Careers at MassHousing

Assistant Risk Manager, Mortgage Insurance Fund

Organization: MassHousing

Location: One Beacon Street, Boston, MA 02108

Posting Closes: Close of Business on December 27, 2024

Website: www.masshousing.com

MassHousing recently affirmed its longstanding commitment to diversity and inclusion in its 5-year Strategic Goals.

All positions at MassHousing require a customer service mindset, in accordance with our values: Integrity, Excellence, Collaboration, Respect, Accountability and Service. Inherent in these values is our commitment to diversity, equity, and inclusion for all.

The Organization

MassHousing will confront the housing challenges facing the Commonwealth to improve the lives of its people. A bold mission for an innovative agency. Since its inception in 1966, MassHousing has provided more than $27.5 billion for more than 125,000 apartments and more than 105,000 home mortgage loans. Beyond lending, we also work to promote economic growth and empowerment for families, individuals, and businesses; help communities increase their housing stock; provide hope and homes for vulnerable populations, and look for new, cost-effective ways to provide equitable housing opportunities. We have a relentless determination to confront the Commonwealth's housing challenges and improve lives.

We know that we cannot meet our mission without a workforce that is committed to standing with us in our efforts. We achieve this by making investments in staff development and prioritizing individuals who align with our values including an unwavering dedication to diversity, equity, and inclusion.

As an employee of MassHousing you are offered a great career opportunity which is more than a paycheck. MassHousing’ s total compensation package features an outstanding set of employee benefits which you should consider towards your overall compensation, including but not limited to:

• Tuition reimbursement up to $10,000 per calendar year
• A 35-hour work week and a hybrid work schedule
• Back up Child/Elder Care
• Retirement Savings including a pension and a deferred compensation plan (with a match)
• Comprehensive health, dental and vision plans
• 12 paid Holidays per year and generous sick, vacation, and personal time
• Short-Term Disability
• Central Boston office location, convenient to public transportation and amenities on site

If you're ready to join our dynamic team of mission driven professionals, this might be the job for you! Interested candidates should send a letter of interest and a resume to MassHousing by logging in to https://prd01-hcm01.prd.mykronos.com/ta/6003873.careers?CareersSearch

Position Summary

Under the direct supervision of the Director of the Mortgage Insurance Fund (MIF), the Assistant Risk Manager, MIF will support both external and internal customers. The Assistant Risk Manager will be responsible for mortgage insurance servicing functions such as: general ledger reconciliations, risk analysis, reinsurance matters, claim reviews, and ad-hoc, daily, monthly, and quarterly reporting to GSEs and reinsurers. The Assistant Risk Manager will work closely with management and MIF team members to ensure the systems and portfolio remain accurate and up-to-date and will also collaborate with internal departments to provide input and complete servicing activities and organizational initiatives. The Assistant Risk Manager will work with outside actuaries on MI pricing maintenance, quantitative financial analytics, and PMIERs reporting to the GSEs. The Assistant Risk Manager will work on reinsurance negotiations and contract maintenance with reinsurance brokers and reinsurers.

The Assistant Risk Manager, Mortgage Insurance Fund is a flex position under MassHousing's Hybrid Work model. Flex positions require a minimum of 4 days in the office per month.

Specific Duties and Responsibilities

• Collaborate with Financial Reporting department ensuring that all general ledger transactions regarding the MIF are reconciled.
• Work closely with reinsurance partners on reporting and contractual issues.
• Work closely with actuarial partners on quantitative risk analysis and reporting needs.
• Help to develop, implement, and maintain a risk management framework.
• Make recommendations upon fact-based analysis using internal and external data sources based on risk expectations and prior segment performance.
• Conduct research, gather information, and maintain awareness of business environment, government events and regulatory changes.
• Identify and investigate impacts of market and loan risk factors, such as regional economic indicators, competitive intelligence, and housing policy changes.  
• Ensure payments of all MIF obligations are handled promptly.
• Provide information to Accounting and MassHousing’s audit firm to produce the annual MIF financial audit, and quarterly review.
• Partner with IT staff in working through system enhancements, issues, and resolution. Ensure systems logic aligns with operational processes. Recommend enhancements as needed.
• Perform default servicing activities, develop, and maintain documentation for default servicing processes. 
• Review for accuracy and coordinate processing of all claim requests.
• Provide updates to MassHousing’s Information Statement and other bond-related documents.
• Prepare monthly, quarterly, and annual servicing reconciliations and discuss trends with management.
• Coordinate and prepare standard and ad hoc reporting using data analysis tools.
• Perform other tasks and duties as assigned.

Knowledge, Skills and Abilities Required

• Exceptional critical thinking and problem-solving skills.
• Strong work ethic and the ability to work independently with minimal supervision, and as a member of a team.
• Strong interpersonal and communication skills.
• Effective time management and project management skills.
• Proficiency with Microsoft Office Suite and competence in a variety of technological platforms and processes. Highly proficient with Statistical Analyst Software and Excel.

Minimum Education and Training

• Bachelor’s degree in accounting, finance, risk management, banking, economics or related field. A background in mortgage, insurance or financial services analytical support is preferable.
• Minimum of 5 years of increasing responsibilities in accounting/finance/risk management/mortgage-related business.
• Technologically savvy and able to demonstrate competence in a variety of data analytics and data analysis tools.

Salary Range: $119,344.00 to $155,147.00

This position has been designated as Flex under MassHousing's Alternative Work Schedule (AWS)-hybrid work model. During the first 90 days, the employee may be expected in the office more frequently for training and onboarding.

MassHousing is an Equal Opportunity Employer

Financial Accountant

Organization: MassHousing

Location: One Beacon Street, Boston, MA 02108

Posting Closes: Close of Business on January 10, 2025

Website: www.masshousing.com

MassHousing recently affirmed its longstanding commitment to diversity and inclusion in its 5-year Strategic Goals.

All positions at MassHousing require a customer service mindset, in accordance with our values:  Integrity, Excellence, Collaboration, Respect, Accountability and Service.  Inherent in these values is our commitment to diversity, equity, and inclusion for all.

The Organization

MassHousing will confront the housing challenges facing the Commonwealth to improve the lives of its people. A bold mission for an innovative agency. Since its inception in 1966, MassHousing has provided more than $29 billion for more than 125,000 apartments and more than 105,000 home mortgage loans. Beyond lending, we also work to promote economic growth and empowerment for families, individuals, and businesses; help communities increase their housing stock; provide hope and homes for vulnerable populations, and look for new, cost-effective ways to provide equitable housing opportunities. We have a relentless determination to confront the Commonwealth's housing challenges and improve lives.

We know that we cannot meet our mission without a workforce that is committed to standing with us in our efforts. We achieve this by making investments in staff development and prioritizing individuals who align with our values including an unwavering dedication to diversity, equity, and inclusion.

As an employee of MassHousing you are offered a great career opportunity which is more than a paycheck. MassHousing’ s total compensation package features an outstanding set of employee benefits which you should consider towards your overall compensation, including but not limited to:

• Tuition reimbursement up to $10,000 per calendar year
• A 35-hour work week and a hybrid work schedule
• Back up Child/Elder Care
• Retirement Savings including a pension and a deferred compensation plan (with a match)
• Comprehensive health, dental and vision plans
• 12 paid Holidays per year and generous sick, vacation, and personal time
• Short-Term Disability
• Central Boston office location, convenient to public transportation and amenities on site

If you're ready to join our dynamic team of mission driven professionals, this might be the job for you! Interested candidates should send a letter of interest and a resume to MassHousing by logging in to https://prd01-hcm01.prd.mykronos.com/ta/6003873.careers?CareersSearch

Position Summary

The Financial Accountant is the entry level position in the Financial Reporting Department and reports directly to the Financial Accounting Supervisor. He/she is responsible for assisting with the accurate and timely preparation of MassHousing’s (MH) financial statements, which is the primary tool that allows MH to borrow funds, participate in government programs (GNMA, FNMA, FFB) and develop creative strategies to enable the Agency to further its mission.

Specific Duties and Responsibilities

• Perform assigned monthly reconciliations of Cash, Cash Equivalents, Loans Receivable and Debt.
• Propose accounting journal entries to the General Ledger as necessary.
• Prepare, analyze, and reconcile various assigned monthly and quarterly program package deliverables including balance sheet account proofs, Statement of Cash Flow, Income Statement,
• Statement of Net Position, quarterly flux analysis.
• May prepare fund or program cash flow projections.
• Will collaborate with staff in other Departments within Finance and throughout the Agency to research variances in reconciliations.
• Perform other duties as assigned by the Financial Supervisor or Manager. 

Knowledge, Skills and Abilities Required

• Exceptional critical thinking and problem-solving skills.
• Strong work ethic and the ability to work independently with minimal supervision, and as a member of a team.
• Strong interpersonal and communication skills.
• Effective time management and project management skills.
• Proficiency with Microsoft Office Suite, especially Microsoft Excel.
• Understanding of accounting concepts. 

Minimum Education and Training

• Bachelor's Degree in Business or Accounting or similar work experience.
• 0-4 years of accounting experience, Fund Accounting, or banking preferred.
• Experience with automated General Ledger systems a plus. 

Salary Range: $74,415.00 to $96,739.00

This position has been designated as Hybrid under MassHousing’s Alternative Work Schedule (AWS)-hybrid work model. However, during the first 90 days, the employee may be expected in the office more frequently for training and onboarding.

MassHousing is an Equal Opportunity Employer