Job Posting: Credit Officer

CA Housing Finance Agency

Credit Officer
C. E. A.

$9,755.00 - $11,807.00 per Month

Final Filing Date: 7/24/2024

Job Description and Duties


At CalHFA we embrace a culture that is diverse, equitable, and inclusive for everyone by building an organization that is as diverse as the communities we serve. CalHFA believes that diversity provides a competitive advantage, strengthens our innovative capacity, and enhances our ability to succeed and grow.

Division Description

The California Housing Finance Agency's (CalHFA), Financing Division is responsible for the Agency’s financing activities. The Financing Division plans and supervises bond and note sales, manages and issues outstanding bonds and other debt obligations, and provides continuing disclosure to bond investors. The Financing Division also manages financial agreements related to variable rate debt including interest rate swap contracts, liquidity agreements, remarketing agreements, the investment of Agency funds, monitoring the cash flow requirements of Agency operating funds and bond indentures, and ensuring the long-term liquidity of the Agency. The Financing Division acts as a resource for financial modeling and reporting for existing programs and future initiatives and provides timely, relevant, and sound financial advice to the Executive Office and the Board of Directors.

Position Summary
Under the administrative direction of the Director of Financing, the Credit Officer is responsible for comprehensive credit management and risk assessment related to the Agency’s various financing and lending programs. The Credit Officer is responsible for maintaining the credit quality of the lending portfolio and recommending strategies for loss mitigation in alignment with the Agency’s overall risk management framework and for credit policy development, implementation, and monitoring.

Please note:
All candidates must submit Examination/Employment Application (STD 678). Candidates who do not thoroughly complete or provide adequate information in the EMPLOYMENT HISTORY SECTION will not be considered for employment.


Please let us know how you learned about this career opportunity by taking a brief

You will find additional information about the job in the Duty Statement.

Working Conditions

CalHFA is a high-rise building conveniently located in downtown Sacramento with access public transportation (light rail and bus) and freeways(I-5, 99, and Business 80). It is a block from Downtown Commons (DOCO), the Golden 1 Center, and many restaurants. CalHFA employees also have access to the gym located in the building.  


Minimum Requirements

This position does not have a Classification Specification. Requirements and qualifications for this position can be found in this announcement. For additional questions, please contact the hiring department listed below.

    Position Details

    Job Code #:
    Position #(s):
    Working Title:
    Credit Officer
    C. E. A.
    $9,755.00 - $11,807.00 A
    # of Positions:
    Work Location:
    Sacramento County
    Job Type:
    Career Executive Assignment - Non Tenured, Full Time

    Department Information

    California Housing Finance Agency (CalHFA)
    Financing Division

    CalHFA has again been certified as a 
    Great Place to Work for 2023. Join CalHFA and help us to advance and continue our mission of investing in diverse communities with financing programs that help more Californians have a place to call home.

    All Californians living in homes they can afford.

    Investing in diverse communities with financing programs that help more Californians to have a place to call home.For more than 45 years, the California Housing Finance Agency (CalHFA) has supported the needs of low- and moderate-income renters and homebuyers by providing financing and programs with a focus on equity. Established in 1975, CalHFA was chartered as the state's affordable housing lender. The Agency's Multifamily Lending Division finances affordable rental housing through collaborations with developers, local, state and federal government partners and more, while its Single Family Division partners with a preferred lender network to provide first-time homebuyers with down payment and closing cost assistance and access to first mortgage loans. CalHFA is a self-supported state agency that doesn't rely on taxpayers dollars for its operational costs but regularly administers various state and federal resources on behalf of the state.

    Department Website:

    Special Requirements


    A Statement of Qualifications (SOQ) describes your experience, knowledge, and abilities as they relate to each item listed below.

    AN SOQ IS REQUIRED AS PART OF THE EXAMINATION PROCESSAND MUST BE SUBMITTEDWITH THE STD. 678 EXAMINATION/EMPLOYMENT APPLICATION TO BE CONSIDERED FOR THIS POSITION.The SOQ serves as the examination for this CEA recruitment and shall be the basis for the candidates final score and rank on the eligibility list.

    The answers should be singled-spaced, 12-point font, and no more than four (4) pages. The answers must clearly and concisely provide relevant experience, education,and/or training. Please include the questions with the responses and they must be numbered and answered in the same order as below.

    Be sure to review the duty statement carefully to ensure that your experience aligns with the position. Responses should clearly demonstrate how your experience meets the requirements of this position.

    1. CalHFA’s typical multifamily loan consists of over 40 units. In this context, describe and provide examples of your direct experience and/or knowledge of the multifamily lending marketplace and multifamily loan underwriting standards.

    2. Describe a complex multifamily (of over four units) lending transaction you have underwritten. Address how you ensured that the debt was underwritten in compliance with applicable lending policies, explain what risk factors impacted the transaction and how those risks were mitigated.

    3. Provide examples of your experience presenting to decision makers and share how you believe credit analysis such as project exceptions, weaknesses, and mitigations should be communicated.

    4. Describe your experience developing new or updating existing lending processes, policies, and procedures.

    Application Instructions

    Completed applications and all required documents must be received or postmarked by the Final Filing Date in order to be considered. Dates printed on Mobile Bar Codes, such as the Quick Response (QR) Codes available at the USPS, are not considered Postmark dates for the purpose of determining timely filing of an application.

    Final Filing Date: 7/24/2024

    Who May Apply

    Individuals who are eligible to be appointed to this Career Executive Assignment (CEA) by the State of California.

    How To Apply

    Complete Application Packages (including your Examination/Employment Application (STD 678) and applicable or required documents) must be submitted to apply for this Job Posting. Application Packages may be submitted electronically through your CalCareer Account at When submitting your application in hard copy, a completed copy of the Application Package listing must be included. If you choose to not apply electronically, a hard copy application package may be submitted through an alternative method listed below:

    Address for Mailing Application Packages

    You may submit your application and any applicable or required documents to:

    CA Housing Finance Agency
    Attn: Human Resources
    P. O. Box 4034
    Sacramento, CA 95812-4034

    Address for Drop-Off Application Packages

    You may drop off your application and any applicable or required documents at:

    CA Housing Finance Agency
    Mai Mai
    500 Capitol Mall, Suite 1400
    Sacramento, CA 95814
    08:00 AM - 05:00 PM

    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 - A Statement of Qualifications (SOQ) is required and serves as the examination for this CEA recruitment and must be included with your application. Please see the SPECIAL REQUIREMENTS SECTION above for instructions.
    Applicants requiring reasonable accommodations for the hiring interview process must request the necessary accommodations if scheduled for a hiring interview. The request should be made at the time of contact to schedule the interview. Questions regarding reasonable accommodations may be directed to the EEO contact listed on this job posting.

    Examination Qualification Requirements

    All applicants must possess the knowledge and abilities, and any other requirements, described in this announcement.

    Note: Eligibility to take a CEA examination does not require current permanent status in the civil service.

    General Qualifications

    State civil service employees must possess essential general qualifications including integrity, initiative, dependability, good judgment, and ability to work cooperatively with others.

    Knowledge and Abilities

    Applicants must demonstrate the ability to perform high administrative and policy – influencing functions effectively. Such overall ability requires possession of most of the following more specific knowledge and abilities:

    Knowledge of the organization and functions of California State Government including the organization and practices of the Legislature and the Executive Branch; principles, practices, and trends of public administration, organization, and management; techniques of organizing and motivating groups; program development and evaluation; methods of administrative problem solving; principles and practices of policy formulation and development; personnel management techniques; the department's or agency's equal employment opportunity objectives; and a manager's role in the equal employment opportunity program.

    Ability to plan, organize, and direct the work of multidisciplinary professional and administrative staff; analyze administrative policies, organization, procedures, and practices; integrate the activities of a diverse program to attain common goals; gain the confidence and support of top level administrators and advise them on a wide range of administrative matters; develop cooperative working relationships with representatives of all levels of government, the public, and the Legislative and Executive Branches; analyze complex problems and recommend effective courses of action; prepare and review reports; and effectively contribute to the department's or agency's equal employment opportunity objectives.

    These knowledge and abilities are expected to be obtained from the following kinds of experience with substantial participation in the formulation, operation and/or evaluation of program policies (experience may have been paid or volunteer; in State service, other government settings, or in a private organization):

    CEA Level A - Responsible for broad administrative and program activities, including the execution and/or evaluation of program policies.

    CEA Level B - Responsible for extensive managerial and program administration or broad program manager experience with substantial participation in the formulation, operation, and/or evaluation of program policies.

    CEA Level C - Responsible for extensive highly professional influence and contributes to program, policy, and the methods to provide professional services needed to set policies, to meet the mission of the State department and often exercising technical and or professional skills that are required at this level.

    Examination Information

    This examination will consist of an evaluation of your Statement of Qualifications (SOQ) weighted 100% using pre-determined criteria based on the minimum qualifications for the position. 

    In addition, this examination may also utilize each candidate’s experience, education and/or training. For this reason, it is especially important that each candidate accurately and completely fill out the STD. 678 Examination/Employment Application and answer the SOQ questions. 

    Resumes do not take the place of the required SOQ or STD. 678 Examination/Employment Application. Referring to the resume for information (i.e., “See Resume”) will eliminate you from the examination process and will not be scored.

    If you meet the requirements stated in this announcement, you may take this competitive examination. Possession of the Examination Qualifications requirements does not assure a place on the eligible list. Your performance in the examination will be compared with the performance of others who take this examination, and all successful candidates will be ranked according to their scores.

    A minimum rating of 70% must be attained in the Examination to obtain list eligibility for this position. All candidates will receive written notification of their examination results.

    The results of this examination will only be used to fill this position. Applications will be retained for twelve months.

    Hiring interviews for the Job may be conducted with the most qualified candidates.

    The examining Department reserves the right to revise the examination plan to better meet the needs of the service, if the circumstances under which this examination was planned change. Such revision will be in accordance with civil service law and rules and all competitors will be notified.

    Special Testing Arrangements

    If you have a disability and need special testing arrangements, answer the Reasonable Accommodations question appropriately on your Application (STD 678). You will be contacted to make specific arrangements. Questions regarding reasonable accommodations may be directed to the EEO contact listed on this announcement.


    Benefit information can be found on the CalHR website and the CalPERS website.

    Contact Information

    The Human Resources Contact is available to answer questions regarding the position or application process.

    Department Website:
    Human Resources Contact:
    Mai Mai
    (916) 326-8015

    Please direct requests for Reasonable Accommodations to the interview scheduler at the time the interview is being scheduled. You may direct any additional questions regarding Reasonable Accommodations or Equal Employment Opportunity for this position(s) to the Department's EEO Office.

    EEO Contact:
    Jennifer LeBoeuf
    (916) 326-8075
    California Relay Service: 1-800-735-2929 (TTY), 1-800-735-2922 (Voice) TTY is a Telecommunications Device for the Deaf, and is reachable only from phones equipped with a TTY Device.

    Equal Opportunity Employer

    The State of California is an equal opportunity employer to all, regardless of age, ancestry, color, disability (mental and physical), exercising the right to family care and medical leave, gender, gender expression, gender identity, genetic information, marital status, medical condition, military or veteran status, national origin, political affiliation, race, religious creed, sex (includes pregnancy, childbirth, breastfeeding and related medical conditions), and sexual orientation.

    It is an objective of the State of California to achieve a drug-free work place. Any applicant for state employment will be expected to behave in accordance with this objective because the use of illegal drugs is inconsistent with the law of the State, the rules governing Civil Service, and the special trust placed in public servants.

    Application Methods:
    Electronic (Using your CalCareer Account)
    By Mail