Financial Risk Manager - MaineHousing - Augusta, ME |
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Financial Risk Manager

MaineHousing | Augusta, ME

The Employer has temporarily removed this posting

Primary Purpose of Position:  The Financial Risk Manager will supervise the Risk Management Group and the HUD Contracts Group and will provide the Asset Management Department with technical, financial and analytical expertise, including the areas of identifying and working with troubled Assets.  The Financial Manager will oversee the review of annual financial statements, budgets, insurance coverage, and project escrows for the assets in the multifamily portfolio, and manage portfolio data collection and reporting systems related to properties on Watch Desk. This position will also manage the HUD rental contract activity including contract renewals, rent increases, reporting and processing requirements and technical assistance.


Education /Experience:  Bachelor’s Degree and 6 years of experience in financial statement analysis, budget preparation review or a combination of 10 years of experience, training, and education.  Two years of supervisory experience is preferred.


Core Functions:


Supervise, coach, and develop staff

  • Provide guidance to staff in performance of their job responsibilities and resolving problem situations
  • Assist employees with performance and work habit issues
  • Conducts regular coaching sessions with staff
  • Work with staff to develop individual goals
  • Determine training needs of staff and ensure necessary training is provided


Risk Management Group

Manage the following functions:

  • The Review of audited financial statements for properties in the multi-family portfolio
  • The Review of budgets for Section 8 and Rental Loan Program projects
  • Oversee the evaluation of risks within the portfolio and work with troubled projects in order to improve project cash flow
  • Property Insurance evaluation and compliance
  • Manage the administration of project escrows held by MaineHousing in the Federated accounts


HUD Contracts Group

Manage the monthly HAP payment report to owner and MaineHousing Finance Department

  • Maintain user administration role in both HUD on-line data systems and MaineHousing’s software(HDS)
  • Update mortgage payment information
  • Work with Finance Department to reconcile bank accounts and prepare information for 1099s
  • Oversee the process for requests for rent increases for Traditional Contract Administration Section 8 Properties (TCA) in MaineHousing’s portfolio
  • Manage the process for owner requests for HAP contract renewals(PBCA) and rent increases

Project-Based Contract Administration (PBCA)

  • Assure timelines are met by using various tracking systems
  • Prepare error tracking log
  • Prepare monthly invoice and reports to HUD for administrative fees
  • Oversee annual HUD PBCA compliance reviews


Attend training and conferences

  • HUD conferences and workshops regarding TRACS and Contract Administration are held in    Washington D.C. on a quarterly basis
  • HDS users conferences are held out of state (Florida) on an annual basis
  • Various industry group provide training or ask for MaineHousing participation on a regular basis
  • Owner requests for one-on-one training as needed


Other Duties:

Supervise or participate in the following:

  • Track Notices of Violation issued by Asset Management
  • Track Letters of Credit
  • Assist in the financial analysis of the strength of borrowers that apply for loans through the Asset Management Department
  • Assist in developing, organizing, and managing Watch Desk tracking and reports
  • Log and follow-up on liens – tax, water, sewer
  • Calculate escrow funding for new loan closings and existing projects as needed
  • Establish a working knowledge of subsidy processing and the processing of escrows, reserve accounts and rehabilitation escrow activity
  • Assist in maintaining Multi-family databases
  • Be available as a resource to internal MaineHousing staff 
  • Participate in special projects as requested
  • Attend internal and external meetings
  • Participate and present in training opportunities
  • Other duties as assigned
    Skills and Knowledge: 
  • Ability to effectively lead and supervise others
  • Understanding of Multi-family insurance requirements
  • Experience working with multi-family real-estate
  • Strong project management, time management, and organizational skills
  • Strong financial analysis skills
  • Strong PC skills using various software (spreadsheet, word processing, database)
  • Ability to establish and maintain good working relationships with business partners
  • Experience communicating effectively in front of groups
  • Excellent communication skills – oral, written, listening
  • Ability to take initiative, work independently, and utilize creative and analytical skills to resolve issues
  • Ability to process accurate work under tight deadlines
    Working Conditions:  Fast paced environment with multiple priorities, interruptions & deadlines.  The majority of the responsibilities will be performed within the MaineHousing facility.  MaineHousing office hours are Monday – Friday from 8:00am to 5:00pm.
    Reports To:  Director of Asset Management
    Supervises:  Staff of 6
    The starting annual salary for this position is $60,725, plus a comprehensive benefits package.

Posted On: 2018-06-04 10:10:42
Closing Date: Open Until Filled
Telecommute: No
Categories: Accounting, Finance, Management
Job Type: Regular
Pay Type: Annual Salary
Salary: $60,000 - $65,000
Similar Jobs: Within 25 miles of 04330, Accounting, Finance, Management

Additional Contact Info

353 Water Street
Augusta, Maine 04330
Contact: Jane Whitley