Financial Analyst
Location: Raleigh, NC
About the Employer
Harmony Housing Affordable Development Inc. (HHAD) is among the largest real estate developers of affordable rental housing in the United States. The organization's mission is to positively impact communities by creating and preserving quality affordable housing for low wealth households. HHAD is a wholly owned subsidiary of Harmony Housing, a 501c3 not-for-profit owner and operator of affordable housing.
Role Summary
The Financial Analyst will join the expanding Finance team and be an integral part of HHAD's affordable housing development business. This detail-oriented position is responsible for managing the financial aspects of affordable housing projects, ensuring compliance with regulatory requirements, and providing accurate financial reporting to stakeholders. The role works in close coordination with HHAD's Accounting, Business Development, Construction, Development, and Executive teams, reporting to the Director of Finance. The position requires leading all efforts related to underwriting, financing, and closing transactions for the company's multi-family affordable development platform (new construction, rehabilitation, mixed-use, and Rural Development).
What You'll Do
Project Finance
- Support execution of the multi-family affordable development platform by leading underwriting, financing, and closing projects
- Collaborate with cross-functional Project Team (Finance, Development, and Construction) to successfully execute multiple development projects
- Facilitate collection, organization, review, and analysis of financial due diligence materials
- Prepare, update, and maintain detailed project-level and portfolio-level financial models using Excel macros and various data analysis techniques
- Prepare financial analyses and supporting materials for presentations to senior leadership, Investment Committee, external development partners, and other stakeholders
- Provide regular status reports on projects to senior leadership
- Monitor and drive project schedules to ensure financial milestones are achieved as scheduled
- Track pre-development costs and cash needs for assigned projects
- Lead efforts to raise debt and equity by preparing investment packages, soliciting proposals from potential lenders and investors, responding to questions, and negotiating terms
- Identify potential sources of soft funding and update financial models with unique associated financing terms
- Work closely with the Development Team to prepare applications for tax credits, tax-exempt bonds, and other sources of funds
- Assist in monitoring project budgets, ensure development sources and uses remain balanced, and provide insights into cost management and financial performance
- Participate in project meetings and contribute to financial decision-making processes
- Prepare closing draws and facilitate project financial closing and funding requests; review closing statements for accuracy
Regulatory Compliance
- Ensure continuous adherence to local, state, and federal regulations (including state QAPs) related to affordable housing financing and reporting
- Review project partnership and financial documents and ensure funding terms and conditions are consistently maintained
Stakeholder Engagement
- Effectively and timely communicate with bank representatives, lenders, investors, housing agencies, market analysts, appraisers, auditors, clients, and other external deal participants
- Establish, cultivate, and maintain strategic relationships with potential and existing partners, brokers, institutional and equity partners, owners, lenders, and other key stakeholders in various markets
- Lead meetings with external clients, financial partners, government agencies, and pertinent officials as needed
- Collaborate with financial analysts, developers, project managers, and other stakeholders to provide financial insights and support
Team Leadership
- Foster a collaborative environment that encourages continuous improvement and innovation
- Identify and implement process improvements to enhance the efficiency and effectiveness of the Finance and Underwriting functions
- Stay updated on industry trends and best practices in affordable housing finance
- Ensure individual and departmental goals and objectives are achieved
Required Qualifications
- Bachelor's degree in accounting, business, finance, real estate, mathematics, or a related field
- Minimum of two (2) years of progressive professional experience with a successful track record in real estate development, real estate finance, or low-income housing tax credit syndication, with an in-depth understanding of real estate fundamentals and transaction structuring
- Exceptional financial modeling skills with the ability to create, update, maintain, understand, and audit complex financial models using Microsoft Excel (advanced levels)
- Experience reviewing real estate financial information (operating statements, rent rolls, audits, loan documents, etc.); ability to process information including gathering, assessing, coding, organizing, auditing, and verifying data
- Experience in advanced multi-family real estate underwriting with LIHTC and tax-exempt bond financing, FHA mortgage insurance programs, Agency debt products (Fannie/Freddie), and familiarity with other affordable housing funding programs and compliance regulations
- Demonstrated excellent analytical, problem-solving, and decision-making skills
- Ability to recognize and mitigate investment risks
- High-energy, accurate, organized, highly detailed, and results-oriented professional with demonstrable ability to successfully manage multiple projects and work under pressure of strict deadlines
- Excellent written and oral communication skills with ability to clearly and concisely express ideas, thoughts, and concepts in writing and verbally
- Strong financial and analytical skills, as well as advanced computer skills (Microsoft Office Suite, Adobe, SharePoint, SmartSheets, and similar programs)
- Ability to handle daily responsibilities and projects with minimal direction, while working in close collaboration with a team to provide solutions
- Ability to maintain a "big picture" focus while attending to very detailed work and providing thorough documentation
- Resourceful, flexible, and able to react and respond quickly towards positive outcomes
- Strong personal standards and values consistent with HHAD's core values (entrepreneurial, integrity, caring, and excellence)
Preferred Qualifications
- Master's degree in a related field
Additional Information
A satisfactory background check will be required as part of the selection process.
This job description is not inclusive of all responsibilities, skills, requirements, efforts or working conditions associated with this position. While this job description is intended to be an accurate reflection of the current position, management reserves the right to modify the position or to require that other or different tasks be performed when circumstances change.
Equal Opportunity Statement
HHAD is an EEO employer and believes that finding creative solutions comes from the collaboration of people with diverse backgrounds and perspectives.
