Connecticut Housing Finance Authority is a self-funded, quasi-public organization. Its mission is to alleviate the shortage of housing for low-to moderate-income families/individuals in this state and, when appropriate, to promote or maintain the economic development of this state through employer assisted housing efforts.
Since 2011, more than 23,200 multifamily units have been built, renovated or are in some phase of construction or development. In total, the state has invested $1.42 billion in affordable housing, leveraging an additional $2.45 billion in total investment from public and private sources, totaling $3.87 billion in direct economic impact. CHFA has a AAA bond rating and over $750 million in assets.
First-time homebuyers play a critical role in the housing market. In 2017, there were 2,967 new homeowners based on CHFA’s first-time homebuyer program. In addition, CHFA’s below-market interest rate loans and Down Payment Assistance Program loans help low to moderate-income borrowers make the transition from renting to home ownership.
Moreover, despite turmoil in the housing tax credit markets, CHFA’s Board of Directors approved financing for more than 2,102 affordable multifamily rental housing units in 2017. By leveraging federal and state tax credit proceeds administered by CHFA with private capital, developers were able to move projects forward in an evolving marketplace.
CHFA seeks a Chief Executive officer who will bring new thinking regarding best practices for maximizing financial resources to create a positive impact in the Connecticut housing market and economy, with an emphasis on creation of affordable housing. The CEO will be tasked with implementing policies and procedures to maximize leveraging of private investment.
The Chief Executive Officer (Executive Director) Position
Reporting to the CHFA Board, the Chief Executive Officer is responsible for implementing the strategic direction for the organization as determined by the Board. It is critically important the Chief Executive Officer is able to act as a catalyst to create energy and excitement among the Board, staff and the state to move CHFA forward.
The Chief Executive Officer is responsible for managing the day-to-day operations, staff and all budget and fiscal matters. The Chief Executive Officer needs to be extremely knowledgeable in the work of CHFA and able to educate Board members, the staff, the legislature as well as the general public on the potential and capabilities of the Authority. Additionally, the Chief Executive Officer will be expected to develop approaches to increase support from the private sector and enhance collaboration with philanthropic and social impact investors in order to generate new revenue streams and programs to further the mission of the Authority.
External Relations and Support
The Chief Executive Officer represents the Authority in its relationships with the Board, the Executive and Legislative branches of State and federal government, partners and the broader public to create awareness and support of the Authority. The role provides creative leadership in identification and cultivation of existing and new partners. S/he should have the skills necessary to protect and grow CHFA’s assets, expand its social mission and work collaboratively with partners and stakeholders.
Financial and Operational Management
Oversees the day-to-day operations of the Authority with an eye toward efficiency and effectiveness in all areas. Manages communication across the Authority. Responsible for all financial operations, including the budget process, financial reporting to the Board and explanation of all development opportunities.
Staff and Leadership Development
Provides leadership to the Authority’s staff. Recruits and retains talent. Communicates the organizational mission to staff members. Provides for developmental growth opportunities and succession planning.
Ensures that the Board is kept fully informed of all important matters relating to the Authority. Develops creative and compelling ways to partner with the Board in external relations and communication and development efforts that further the mission of the Authority. In addition, the CEO, in collaboration with the board and staff will develop a strategic plan.
The ideal candidate will possess a Master’s degree and 10+ years of executive level management experience in an organization of comparable size. S/he will be a creative and entrepreneurial leader with exceptional communication skills. It is important that the successful candidate have an understanding and commitment to the work and mission of the Authority. S/he will have experience leading, developing and working in a setting similar to the Authority.
The compensation package is highly competitive to similar organizations and commensurate with experience.
Interested candidates should apply online at: https://www.chfa.org/careers/.
Application guaranteed consideration date: July 5, 2019.