Senior Credit Risk Manager

At the Vermont Housing Finance Agency (VHFA), we are on a mission to ensure all Vermonters have access to affordable housing. We are looking for a Senior Credit Risk Manager who is part premier technical authority, part strategic collaborator, and entirely impact-driven.

This isn't just an underwriting job—it’s a high-visibility leadership role that safeguards the financial resilience of our multi-family portfolio. If you excel at evaluating complex capital stacks, mastering layered transaction risks, and mentoring project finance teams, we want you on our team.

The Impact You’ll Make

Advanced Underwriting & Financial Analysis

• Lead the financial, credit, and risk analysis of complex multifamily rental housing, preservation, mixed-income, and homeownership developments.
• Evaluate borrower capacity, development feasibility, operating pro formas, sources and uses, and long-term project sustainability.
• Prepare comprehensive underwriting memoranda and data-driven financing recommendations for internal review, the Credit Committee, and the Board of Commissioners.

Project Finance & Transaction Structuring

• Structure multifaceted financing transactions utilizing Low-Income Housing Tax Credits (LIHTC), tax-exempt bonds, state and federal funding, and public-private capital sources.
• Participate in high-level negotiations with developers, lenders, syndicators, investors, and public agencies to balance deal feasibility with prudent risk management.
• Support loan commitments, closings, and asset preservation workflows while coordinating with Legal, Finance, Compliance, and Asset Management staff.

Credit Policy & Technical Leadership

• Support the Vice President in maintaining, refining, and implementing agency underwriting standards, credit policies, and financial modeling tools.
• Serve as a senior underwriting resource, providing proactive mentoring, training, and constructive peer reviews to project finance staff.
• Monitor emerging pipeline risks, evaluate portfolio trend metrics, and participate in strategic workout or restructuring opportunities to protect Agency resources.