FINANCIAL PLANNING ANALYST - EXCLD (Underwriting)

at City of Chicago in Chicago, Illinois, United States

Job Description

Description:

JOB ANNOUNCEMENT

FINANCIAL PLANNING ANALYST – EXCLD (Underwriting)

DEPARTMENT OF PLANNING & DEVELOPMENT

Bureau of Economic Development

Number of Positions: 3

(additional vacancies possible pending budget approval)

Starting Salary: $86,520.00

Applications for this position will be accepted until 11:59pm CDT on 08/02/2024

Under direction, performs financial analysis, prepares recommendations, and leads legislative approval for the City’s economic development incentives, including Tax Increment Financing (TIF), Neighborhood Opportunity Fund (NOF), property tax abatement projects, and new project development. This will include underwriting individual projects, evaluation qualitative and quantitative metrics, reviewing developer and project financial data, preparing internal and public briefings of incentive recommendations, predevelopment management and associated community engagement, negotiation of redevelopment agreements (RDA), and progressing awarded projects through the legislative processes.

ESSENTIAL DUTIES

+ Performs financial analysis of proposed development projects by reviewing applications and evaluating the financial feasibility of projects, the amount of public funds required, and the economic benefits to the public sector

+ Manages project development for some City-led development projects, including developing financial estimates, overseeing pre-development planning, and collaborating with other stakeholders

+ Negotiates redevelopment agreements detailing the terms of the project, including the financing mechanism for the City’s payment of eligible costs, and collects all project documentation necessary for redevelopment agreement execution and closing

+ Makes recommendations regarding the City’s participation in private development projects as well as resolve projects with compliance issues, and works to ensure projects achieve resolution

+ Responsible for the day-to-day management of incentive project pipeline, progressing each project through the internal review and legislative processes, while communication with supervisor(s) until project closing

+ Provide feedback to developers and applicants regarding applications, projects, and program requirements prior to and following incentive submission deadlines

+ Assists in proposing, developing, and operationalizing new policies, strategies, or processes that improve the performance of the City’s financial incentives

+ Meets with community and local elected officials to explain proposed redevelopment projects and/or designations in their communities and obtain their support. Meetings may occasionally take place in the evening or on a weekend

+ Represents the department at various public hearings, special task forces, or other committee meetings to give presentations and explain capital structuring, development finance, and general commercial real estate development or discuss economic development, individual projects, and designation as required

+ Collaborates with other sections of the department to conduct various reviews (e.g., architectural, construction, compliance) to ensure plans activities are in accordance with the City’s plans and policies

Additional duties may be required for this position

Location: City Hall, 10 th Floor

Days: Monday – Friday (occasional weekend hours may be required)

Hours: 9:00am – 5:00pm (occasional evening hours may be required)

THIS POSITION IS IN THE CAREER SERVICE

Qualifications:

MINIMUM QUALIFICATIONS

+ Graduation from an accredited college or university with a Bachelor’s degree in Finance, Business Administration, Accounting, or a directly related field, plus three (3) years of experience in financial analysis, OR

+ Graduation from an accredited college or university with a Master’s degree in Finance, Business Administration, Accounting, or a directly related field, plus two (2) years of experience in financial analysis.

SELECTION REQUIREMENTS

This position requires applicants to complete an interview which will include a skills assessment as part of the interview. The interviewed candidate(s) possessing the qualifications best suited to fulfill the responsibilities of the position, based on the oral and written parts of the interview will be selected.

Preference will be given to candidates possessing the following:

+ Previous experience evaluating commercial real estate development projects and associated financials

+ Previous experience reviewing pro forma in relation to commercial real estate loan underwriting

+ Previous experience in a client facing or relationship management capacity within the financial services industry

APPLICATION EVALUATION: Initial evaluation will be based on the information provided on the application and the documents submitted. Department of Human Resources staff will review applications after the final posting date. Staff will follow all required employment/hiring plan provisions, federal, state, and local laws, and collective bargaining agreements when applicable. Staff will apply hiring preferences as required by the municipal code. Placement on an eligibility list is not an offer or guarantee of an interview nor employment with the City of Chicago

COMMITMENT TO DIVERSITY: To further our commitment to hiring applicants with diverse experience, the City of Chicago has adopted ordinances 2-74-020 and 2-74-075. The ordinances provide a preference to applicants who meet the minimum qualifications and who are veterans of the Armed Forces of the United States, residents of Socio-Economically Disadvantaged Areas (SEDA), and/or Chicago Public School (CPS) high school graduates. These hiring preferences do not apply to bidders. For positions covered by a collective bargaining agreement, bidders will be considered before external candidates. The learn more about our hiring processes click here. (https://www.chicago.gov/city/en/depts/dhr/provdrs/emp.html)

ALL REFERENCES TO POLITICAL SPONSORSHIP OR RECOMMENDATION MUST BE OMITTED FROM ALL APPLICATION MATERIALS SUBMITTED FOR CITY EMPLOYMENT.

The City of Chicago in an Equal Employment Opportunity and Military Friendly Employer.

City of Chicago

Brandon Johnson, Mayor