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Program Associate - Community Investment Initiatives
Masshousing - Boston, MA
posted 2 months ago
About the position
The Program Associate at MassHousing plays a crucial role in supporting the Community Investment Initiatives (CII) unit, which focuses on expanding access to affordable housing while promoting racial and economic equity. This position involves assisting Program Managers in reviewing and underwriting affordable housing proposals, conducting financial analyses, and providing detailed reporting. The Program Associate will contribute to initiatives like the CommonWealth Builder Program, aimed at reducing racial homeownership gaps and financing affordable homeownership units.
Responsibilities
- Assist Program Managers in reviewing and underwriting affordable housing production and preservation proposals.
- Conduct financial analysis and propose alternative financing scenarios as necessary.
- Draft important documents including letters of interest, term sheets, and commitment letters.
- Serve as a liaison to external and internal business partners, obtaining and analyzing mortgage information.
- Communicate with potential borrowers to request necessary information and support Program Managers in loan reviews.
- Administer the underwriting model to ensure accurate analysis and loan structuring.
- Maintain positive rapport with borrowers and stakeholders regarding loan evaluations and approvals.
- Perform special assignments including research on industry metrics and creation of analytical tools.
Requirements
- Bachelor's Degree required, preferably in Finance, Real Estate Management, Business Administration, or related field.
- Two to five years of substantive experience in finance or real estate.
- Knowledge of basic financial and financial analysis principles.
- Strong work ethic and ability to work independently and as part of a team.
- Excellent organizational and analytical skills with attention to detail.
- Proficiency with Microsoft Office Suite, especially Excel for complex spreadsheet tracking.
Nice-to-haves
- Demonstrated history of academic success and professional development.
Benefits
- Tuition reimbursement up to $10,000 per calendar year
- A 35-hour work week and a hybrid work schedule
- Back up Child/Elder Care
- Retirement Savings including a pension and a deferred compensation plan (with a match)
- Comprehensive health, dental and vision plans
- 12 paid Holidays per year and generous sick, vacation, and personal time
- Short-Term Disability
- Central Boston office location, convenient to public transportation and amenities on site
