Illinois Housing Development Authority (IHDA), one of the Nation’s preeminent Housing Finance Agencies and one of the State’s ten largest financial institutions, is currently seeking a Deputy Chief Financial Officer (“DCFO”) to build upon their 50+-year leadership in housing finance.
IHDA has financed 250,000+ units of affordable housing for both multifamily developments and single-family homeownership opportunities, in every county of the state. With the support of the Chief Financial Officer (“CFO”), the DCFO will oversee and direct the financial plans and policies, the execution of structured finance arrangements, the issuance of taxable and tax-exempt bonds (conduit, general obligation, MBS pass-through and others, as prudent) and manage and grow relationships with the investment and banking community. The DCFO will work to maintain their excellent credit rating (recently upgraded from A+ to AA-) and spearhead the development of new financial product lines to meet the affordable housing finance needs of the state. The DCFO also manages the organization’s credit and financial risk, including the Single Family/Multi-Family transaction pipeline, the investment portfolio, operations and cash flow needs.
Excellent benefits package, including 401 (k); immediate vesting.
This individual is expected to have 10 years of experience in a financial leadership role as a DCFO or managerial experience at the Director (or comparable) level, within a complex financial institution or Housing Finance Agency. Additional experience qualifications include:
MBA in Finance/Economics/Accounting preferred
Experience with housing or real estate finance, including financing large residential projects utilizing multiple funding sources; extensive affordable and multifamily housing and related financing experience and/or municipal finance, including 5 years reporting to CEO and Boards of Directors or audit committees
Structured finance and debt issuance experience required
Significant knowledge of governmental finance, tax exempt financing, including swaps, derivatives, and other sophisticated financial tools is required
Municipal Bond experience (taxable/tax exempt bonds, conduit, general obligation, MBS pass-through) experience required
Experience in a diverse political and legal environment along with prior experience with Housing Financing Agencies preferred
About Illinois Housing Development Authority
In 1967, the Illinois Housing Development Authority (IHDA) was created as a self-supporting authority by the state legislature to finance quality affordable housing across Illinois. We connect qualified Illinois residents and communities with state and federal financial tools to stimulate affordable housing opportunities.
IHDA works as a bank with a public mission: To finance the creation and preservation of affordable housing across Illinois. We partner with lenders, developers, local government, not-for-profits, community groups, and others to deliver low-cost financing programs. Our financing spurs construction jobs to keep Illinois residents working.