Investment Officer I - MaineHousing - Augusta, ME |
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Investment Officer I

MaineHousing | Augusta, ME

The Employer has temporarily removed this posting

Primary Purpose of Position:  The Investment Officer I is responsible for the oversight and management of $400 million in investments, and administers all accounting functions connected with investments.  This position provides support to the Treasurer and serves as backup for the Investment Officer II position.

Education/Experience:  Bachelor’s Degree in Accounting and two years of experience in formulation, implementing, and administering accounting policies and procedures with a comparable size organization or a combination of education, training, and experience preferred.

 Core Functions:

  • Coordinate and prepare MaineHousing’s Investments for the Mortgage Purchase Program Resolution (MPP), the Maine Energy, Housing and Economic Recovery Fund Revenue Bonds (MEHER) and all Non-Trusteed funds
    • Monitor cash needs and verify funds maturing in specific accounts
    • Track the movement of internal funds, incoming and outgoing wire transfers
    • Collaborate closely with Development, Asset Management and Legal staff to make funds available for multi-family closings, and Homeownership for single family loan purchases
    • Verify the reallocation of funds and schedule investments for future cash needs 
  • Solicit bids for Investments
    • Contact banks, brokerage firms and other sources for bids on specific investment types
    • Notify the winning firm, confirm the investment amounts, dates and rates
  • Serve as Liaison to the Bond Trustee
    • Contact the Trustee with daily investment transactions, movement of funds for single family purchases and multi-family closings, mortgage pledged receipts, debt service, swap and bond call payments, and new bond issues
    • Fulfill Trustee reporting requirements as outlined in the Bond Resolutions
  • Monitor Investment Collateral
    • Review collateral confirmations to confirm dates, rates and adequate coverage 
    • Monitor collateral substitutions, ensuring adequate coverage
    • Coordinate with the Trustee when margin calls require collateral to be returned prior to maturity
  • Maintain the Investment Management System (IV)
    • Enter investment maturities, purchases, sales and transfers into the IV system
    • Generate confirmation letters to Trustee, Bankers and Brokers for investments
  • Mark-to-Market of Investments
    • Post outstanding investment securities to the online RaymondJames e-folio system to obtain current market prices
    • Enter market prices into IV system and reconcile balances
  • Perform all accounting functions for Investments including preparation of journal entries, account analysis, and reconciling Investments with General Ledger (GL)
    • Prepare journal entries for the movement of funds, SF purchases, MF closings, new bond issues, bond calls, debt service and swap payments, and enter or import journal entries to the GL system
    • Reconcile Investments with GL.  Analyze, research and resolve any variances
  • Reconcile IV balances with Trustee Bank Statements
  • Coordinate/Initiate Electronic Wire Transfers and serve as backup on Banking Systems
    • Process wire transfers for investments, MF closings, and escrow accounts
    • Sign checks and provide secondary authorization for ACH payments
  • Prepare and distribute Financial Reports
    • Monthly Investment Report, Housing Reserve Fund and Miscellaneous Notes, Original Bond Proceeds Report and MEHER Tracking
    • Provide investment information for quarterly Financial Statements; Bond Proceeds, Reserve Requirements, and Investment Activity

 Other Duties:

  • Respond to Bond and Financial Inquiries
  • Serve as backup/assist with Loan Committee processes, Debt Service functions and Continuing Compliance on the bonds
  • Document imaging and archiving, and Records Retention for Treasury
  • Prepare audit schedules, work papers, and documentation for annual external audit
  • Other duties as assigned

Skills and Knowledge: 

  • Excellent analytical skills, high degree of accuracy, and attention to detail
  • Strong project management, time management, problem solving, and organizational skills
  • Strong PC skills using various software (spreadsheet, word processing, databases) and automated accounting systems
  • Ability to establish and maintain good working relationships with internal and external partners
  • Excellent communication skills – oral, written, listening
  • Ability to take initiative, work independently, and utilize creative and analytical skills to resolve issues

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:  Treasurer
Supervises:  No one
The starting salary for this position is $52,562, plus a great benefits package.  Please visit our site at for details.


Posted On: 2018-07-26 09:19:44
Closing Date: Open Until Filled
Telecommute: No
Categories: Accounting, Banking, Finance
Job Type: Regular
Pay Type: Annual Salary
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