Deputy Director, Development Finance

Job Description and Duties

Note: Effective July 1, 2025, a 3% salary reduction is in place under the Personal Leave Program (PLP), with 5 hours of Personal Leave Credit earned monthly in exchange. This program is subject to change based on union agreements and state budget policy.

This position is located in Sacramento.

Under administrative direction of HDFC executive leadership, and in partnership with the Department of Housing and Community Development (HCD) and the California Housing Finance Agency (CalHFA), the Deputy Director of Development Finance serves as a principal executive responsible for the formulation, implementation, and oversight of the State’s integrated multifamily housing finance system.The position provides strategic leadership for aligning state subsidy, tax credits, and bond financing programs across various departments into a unified system; oversees the development and implementation of housing finance policies and operations; and establishes and oversees the team to plan a statewide strategy to coordinate HDFC's asset management and compliance framework in order to protect long-term state investments. The incumbent advises executive leadership on complex financial, policy, and operational issues and represents HDFC in high-level interagency, legislative, and stakeholder forums in support of the Executive Director. This role requires preparation of executive-ready briefs and recommendations, sustained cross-department and external coordination, participation in the negotiation of agreements, and representation of the organization with partner agencies and stakeholders on high profile initiatives. This role supports the effective governance of HDFC, supervises staff, and builds strong stakeholder relationships to advance housing development goals.

This position requires reporting to an HDFC office a minimum of four days per week. In limited cases, at the Department’s discretion, an employee may be approved to work in a remote centered capacity on a temporary basis until appropriate office- space becomes available. Under California Government Code Section 14200, telework eligible- employees must reside in California. The designated headquarters location will be based on the employee’s primary residence and may be updated if HDFC criteria are met.

You will find additional information about the job in the .

Special Requirements

Confidentiality

Do not include any confidential information on any documents you submit for a job vacancy, such as your State application, resume, or educational transcripts. Confidential information that should be excluded or removed from these documents includes, but is not limited to, your Social Security Number (SSN), birthdate, student identification number, driver’s license number (unless required), basis of eligibility, examination results, LEAP status, marital status, and age. Confidential information on the first page of applications submitted electronically online, such as Easy ID number, SSN, examination related information, and driver’s license number will automatically be redacted upon submission.

Employment Application (STD.678)

It is a requirement to submit work experience, dates, and hours worked, contact names and phone numbers of supervisors on the state application. Resumes or other documents cannot substitute a state application. Applicants who fail to submit a completed STD. 678 will not be considered.

HDFC Disclosure Requirements

Selected candidates may be subject to rules imposed by a Conflict of Interest Code that apply to HDFC employees, which may require filing a Statement of Economic Interest (Form 700).

HDFC utilizes the federal E-Verify system to verify employment authorization in the United States. For additional information, please visit the E-Verify website .

Desirable Qualifications

In addition to evaluating each candidate's relative ability, as demonstrated by quality and breadth of experience, the following factors will provide the basis for competitively evaluating each candidate:

1. Leadership experience in multifamily housing finance or affordable housing policy
   Demonstrated experience leading complex housing finance programs, transactions, or policy functions at a senior management or executive level.
2. Expert knowledge of affordable housing finance programs and state funding structures in California
   Experience with structuring, underwriting, and closing transactions using tax credits, bond financing, and local, state, and federal housing subsidy programs.
3. Experience developing and implementing local, regional, or statewide policy and program frameworks
   Demonstrated ability to design, implement, and oversee complex policy, program, or operational systems involving multiple funding sources, departments, or stakeholders.
4. Supervisory and organizational management experience
   Experience directing managers and staff, setting priorities, managing workload and performance, and building high-performing teams in a complex and evolving environment.

Benefits

We offer competitive benefits and flexible opportunities:

• Excellent health, dental and vision benefits for employee/employee’s family
• 401k program
• Flexible Schedules
• Hybrid telework
• Paid Holidays and vacation/leave
• Tax-advantaged savings and spending accounts
• Free Employee Assistance Program
• Investment in your training and development

Statement of Qualifications

A Statement of Qualifications must be submitted with your application. Applications received without an appropriate Statement of Qualifications based on the instructions below will be disqualified and will not be considered. Resumes, cover letters, and other documents will not be considered as a response to the Statement of Qualifications. The SOQ will serve as documentation of your ability to present written information clearly and concisely.

Responses must not exceed three (3) pages, and must be organized and numbered in the order provided below.

Please describe your experience as it relates to the four areas below. When completing the SOQ, please include all relevant experience, education, and training for each area and explain your answers thoroughly. Please include 1) places of employment; 2) pertinent dates; 3) duties performed, etc. when responding.

1. Leadership experience in multifamily housing finance or affordable housing policy:  Describe your experience leading complex housing finance programs, transactions, or policy functions at a senior management or executive level.
2. Expert knowledge of affordable housing finance programs and state funding structures in California:  Describe your experience with structuring, underwriting, and closing transactions using tax credits, bond financing, and local, state, and federal housing subsidy programs.
3. Experience developing and implementing local, regional, or statewide policy and program frameworks : Describe your experience in designing, implementing, and overseeing complex policy, program, or operational systems involving multiple funding sources, departments, or stakeholders.
4. Supervisory and organizational management experience: Describe your experience directing managers and staff, setting priorities, managing workload and performance, and building high-performing teams in a complex and evolving environment.

Required Application Package Documents

The following items are required to be submitted with your application. Applicants who do not submit the required items timely may not be considered for this job:

• Current version of the State Examination/Employment Application STD Form 678 (when not applying electronically), or the Electronic State Employment Application through your Applicant Account at All Experience and Education relating to the Minimum Qualifications listed on the Classification Specification should be included to demonstrate how you meet the Minimum Qualifications for the position.
• Resume is required and must be included.
• Statement of Qualifications - Please see Statement of Qualifications section below for instructions.