New York State Homes & Community Renewal · 3 months ago
Restructuring and Due Diligence Associate
New York, NY
Full-time
Onsite
New Grad, Entry Level
$90K/yr - $90K/yrNew York State Homes and Community Renewal (HCR) is the State’s affordable housing agency, with a mission to build, preserve, and protect affordable housing and increase homeownership throughout New York State. The Due Diligence Audit Associate will support the Statewide Asset Management Unit (SAMU) by conducting compliance reviews and operational audits related to special transactions within the affordable housing portfolio.
FinanceProperty ManagementReal Estate
Responsibilities
Act as HCR point of contact, interacting with investors, owners, and other stakeholders while advancing special transactions to closing
Assess whether the proposed transactions align with HCR preservation goals and regulatory requirements
Review mortgage loan documents and regulatory agreements associated with transactions
Develop a timeline and approach needed to bring each transaction from intake to completion. Lead and coordinate calls, meetings, and discussions in connection with the proposed transactions
Provide regular progress reports to senior Agency staff
Conduct internal audits of housing developments across the SAMU portfolio, with a focus on LIHTC, HOME, HTF, Section 8, RAD, and Mitchell-Lama program compliance
Review agency files, financial records, regulatory agreements, and management procedures to ensure adherence to applicable laws and agency policies
Identify non-compliance trends, systemic issues, and internal control gaps; develop and track corrective action plans
Prepare detailed audit reports and maintain documentation of findings, responses, and resolution timelines
Support the development and refinement of audit tools, SOPs, and compliance frameworks
Support the annual review and revision of field inspection forms, audit checklists, and compliance procedures
Monitor team adherence to established policies and escalate inconsistencies or gaps in execution to the VP
Support enterprise-wide risk assessments and help prioritize audits based on performance trends and regulatory exposure
Generate dashboards and summary reports for executive leadership highlighting audit results, outstanding issues, and compliance status
Provide guidance to unit on compliance documentation, audit preparedness, and proper use of file checklists and tracking tools
Contribute to internal training materials and sessions to ensure consistent understanding of audit procedures and regulatory obligations
Collaborate with management to develop and monitor corrective action plans for non-compliant projects
Ensure follow-through and documentation of resolution steps in alignment with HCR policy
Oversee site visit logs to ensure all protocols have been followed and all data is properly logged in all platforms and notices are issued in a timely manner
Liaise with external partners (HPD, HDC, HUD, other HFAs) to share policy updates, compliance guidance, and best practices
Contribute to team-wide understanding of federal and state compliance changes and their impact on HCR protocols
Serve as a resource to team members seeking clarification on legal, financial, or regulatory documentation relevant to asset performance and compliance
Qualification
Required
Bachelor's degree in a related field such as finance, business administration, or public policy
Minimum of 3 years of experience in compliance, auditing, or asset management within the affordable housing sector
Strong understanding of federal and state housing programs, including LIHTC, HOME, HTF, Section 8, and RAD
Excellent analytical skills with the ability to identify trends and issues in compliance and operational performance
Proficient in Microsoft Office Suite, particularly Excel, for data analysis and reporting
Strong written and verbal communication skills to effectively interact with internal and external stakeholders
Ability to work independently and manage multiple projects simultaneously while meeting deadlines
Detail-oriented with strong organizational skills and the ability to maintain accurate documentation
Preferred
Master's degree in a related field
Experience with compliance monitoring and risk assessment in a government or nonprofit setting
Familiarity with audit tools and compliance frameworks
Knowledge of New York State housing laws and regulations
Experience in training and providing technical assistance to staff
Company
New York State Homes & Community Renewal
Welcome to New York State Homes and Community Renewal (HCR)! New York State Homes and Community Renewal is your statewide housing resource.
501-1000 employees
Funding
Current Stage
Late StageLeadership Team
Betsy Mallow
Executive Deputy Commissioner & COO
Jenna Pastor
Human Resources Business Partner
Recent News
Rochester Business Journal
2025-01-10
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