Development Risk Management, Director

Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $92.0 billion and created 1.1 million homes across all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands – all to make home and community places of pride, power and belonging.

Join us at enterprisecommunity.org  

Working at Enterprise  

At Enterprise, you’ll be part of a diverse, committed team making a difference every day. You will collaborate with some of the smartest minds and biggest hearts in our field. You’ll be empowered to drive systems change and take bold steps to advance racial equity. And you will find a career home where you’re valued and supported in your growth journey. 

Enterprise offers career opportunities in our offices across the country with an exceptional benefits package.

Job Description Summary

The Development Risk Management, Director will manage construction risk for affordable housing projects developed with Low-Income Housing Tax Credits (LIHTC). The principal goal is to monitor construction progress, identify and help resolve issues as they arise, and support the successful completion and long-term viability of projects as low-income housing.

Preferred location is Columbia, MD; however, other locations may be considered based on the candidate’s experience and specific job responsibilities.

Job Description

Requirements

• Bachelor’s degree in Architecture, Engineering, Construction Management, or equivalent experience is required; master’s degree a plus.
• Registered Architect or Professional Engineer preferred.

• 2–6 years of related experience with increasing levels of responsibility, preferably including on-site construction oversight.
• 2 or more years of Development Risk Management experience with LIHTC funds.

• Demonstrated ability to manage a wide variety of construction-related individuals, issues, and situations.
• Solid understanding of the standards, processes, and challenges specific to the development of affordable housing preferred
• Knowledge of and experience with green building standards helpful.
• Familiarity with local and regional housing/building agencies and contractors.
• Ability to work effectively in a team environment.
• Highly motivated with the ability to work independently.
• Advanced oral and written communication skills.
• Highest level of professional integrity.

Job Description

• Oversee the collection and review of monthly inspection reports, evaluation of proposed change orders, and review of other construction information for projects in the development phase.
• Participate in the preparation and upfront review of construction-related due diligence, including contracts, plans and specifications, and development team qualifications, to support underwriting.
• Continually evaluate the construction portfolio to identify projects with emerging or existing issues. Coordinate with internal teams to assess impacts and develop solutions that incorporate appropriate mitigation strategies, including cost considerations.
• Proactively identify issues that may arise during the construction phase, including cost overruns, construction delays, design problems, sponsor/general partner issues, contractor concerns, governmental agency matters, financing difficulties, utility constraints, severe weather, environmental conditions, and other development-related issues.
• Facilitate resolution of disputes among stakeholders (General Partner, General Contractor, vendors and agencies).
• Provide support and guidance to asset management staff, as needed, to help resolve construction and development issues on stabilized projects.
• Provide written quarterly summaries of issues and progress against strategy for development projects identified as on, or potentially headed for, the watchlist.
• Interface with proprietary investors to communicate construction risk updates, address project-level questions, and support alignment on mitigation strategies and project performance.
• Work collaboratively with internal teams, including regional asset management, finance, workouts, credit, accounting, underwriting, and other specialized teams, to address problem projects across all stages of the project life cycle.

Please note this position requires periodic travel to job sites throughout the continental United States (approximately 10%) and intermittent travel to company functions (1–2 times per year).

Salary Transparency

You will be joining a team of talented professionals motivated by serving the community and addressing the need for affordable housing.

Enterprise offers a comprehensive total rewards package for you and your family. The pay range for this position is $135,000-$160,000. The salary range represents the low and high end of what may be paid for this position. It is not typical for an individual to be hired at or near the top of the pay range, and compensation decisions may be influenced by a variety of factors, including skills, qualifications, experience, and location.

Total Rewards at Enterprise

This range is just one component of our total rewards package, which also includes annual performance bonuses and generous paid leave programs.

Our benefits form a major part of the total rewards package. These include dental, health, and vision care plans, as well as family-building benefits such as adoption and surrogacy support. Enterprise supports flexible work arrangements to promote work-life balance and offers health advocacy, an Employee Assistance Program (EAP), and mental health benefits. We round out our package with financial education, wellness programs, and auto-enrollment in the company’s 401(k) plan with employer matching contributions.

Finally, you will have access to learning and development opportunities, including tuition reimbursement for job-related courses and certifications. Thank you for your interest in joining the Enterprise team and contributing to our mission to serve others.

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