Director, Development Risk Management

This is a fully remote position, open to applicants in Maryland.

📋 Description

• Oversee construction risk management for affordable housing initiatives utilizing Low-Income Housing Tax Credits (LIHTC).

• Track construction progress, identify challenges, and assist in their resolution.

• Ensure the successful completion and ongoing sustainability of low-income housing developments.

• Supervise the collection and analysis of monthly inspection reports.

• Assess proposed change orders and other construction-related information for projects in the development phase.

• Engage in construction-related due diligence, including reviewing contracts, plans, specifications, and evaluating development team qualifications to support underwriting efforts.

• Analyze the construction portfolio to pinpoint projects with current or emerging issues.

• Collaborate with internal teams to evaluate impacts and devise solutions with mitigation strategies and cost considerations.

• Identify potential issues during the construction phase, such as budget overruns, delays, design challenges, stakeholder conflicts, agency concerns, financing obstacles, utility limitations, severe weather impacts, and environmental conditions.

• Facilitate dispute resolution among general partners, general contractors, vendors, and relevant agencies.

• Assist asset management personnel in addressing construction and development challenges on stabilized projects.

• Prepare quarterly written summaries detailing issues and progress in relation to strategy for watchlist projects.

• Communicate with proprietary investors regarding updates on construction risks, project-level inquiries, mitigation strategies, and project performance.

• Collaborate with regional asset management, finance, workouts, credit, accounting, underwriting, and specialized teams throughout the project lifecycle.

⛳️ Requirements

• A Bachelor’s degree in Architecture, Engineering, Construction Management, or a related field is mandatory.

• Preference will be given to candidates who are Registered Architects or Professional Engineers.

• 2 to 6 years of relevant experience with increasing levels of responsibility, ideally including on-site construction oversight.

• At least 2 years of Development Risk Management experience with LIHTC funding.

• Proven ability to manage diverse construction-related individuals, issues, and situations.

• A solid understanding of standards, processes, and challenges specific to affordable housing is preferred.

• Knowledge of and experience with green building standards is advantageous.

• Familiarity with local and regional housing/building agencies and contractors is beneficial.

• Capacity to work effectively in a collaborative team environment.

• Ability to work autonomously.

• Exceptional oral and written communication skills.

• Highest level of professional integrity is required.

• Willingness to travel periodically to job sites across the continental United States, approximately 10% of the time.

• Ability to travel occasionally to company functions 1 to 2 times per year.

🏝️ Benefits

• Annual performance bonuses.

• Generous paid leave programs.

• Comprehensive dental, health, and vision care plans.

• Family-building benefits, including support for adoption and surrogacy.

• Flexible work arrangements.

• Health advocacy services.

• Employee Assistance Program (EAP).

• Mental health benefits.

• Financial education resources.

• Wellness programs.

• Automatic enrollment in the company’s 401(k) plan with employer matching contributions.

• Opportunities for learning and development.

• Tuition reimbursement for job-related courses and certifications.