Risk and Audit Program Manager

It's fun to work in a company where people truly BELIEVE in what they're doing!

We're committed to bringing passion and customer focus to the business.

Job Description

Key Responsibilities

Enterprise Risk Framework

Design, implement, and continuously refine an enterprise-wide risk mitigation framework covering all agency operations, programs, and business lines.

Develop and maintain a risk taxonomy and risk register in partnership with executive leadership. Establish key risk indicators (KRis) and reporting dashboards to monitor emerging risks in real time.

Internal Audit & Controls

Plan and execute a risk-based internal audit program, including scheduling, scoping, fieldwork, and reporting.

Evaluate the design and operating effectiveness of internal controls across lending, servicing, finance, IT, and program compliance functions.

Identify control gaps and partner with business unit leaders to develop corrective action plans; track remediation to closure.

Regulatory & Program Compliance Risk

Assess risks related to compliance with HUD, GSE (Fannie Mae/Freddie Mac), state housing finance regulations, bond covenants, and applicable federal/state fair lending and consumer protection laws.

Monitor changes in regulatory requirements and assess their impact on agency risk posture. Support external audits, regulatory examinations, and rating agency reviews.

Operational & Program Risk Assessment

Conduct periodic risk assessments across both single-family programs (homeownership lending, down payment assistance, mortgage servicing) and multifamily programs (loan underwriting, construction/permanent financing, asset management, rental assistance, bond issuance) to identify vulnerabilities.

Evaluate credit risk exposure and underwriting quality across the single-family and multifamily loan portfolios.

Evaluate third-party and vendor risk, including single-family mortgage servicers and originating lenders, multifamily loan servicers and property management agents, and contracted program administrators.

Assess fraud risk and support investigations as needed across both business lines.

Reporting & Governance

Prepare risk and audit reports for executive leadership, the Board, and/or Audit/Risk Committees.

Present findings, trends, and recommendations in clear, actionable formats for both technical and non-technical audiences.

Maintain documentation supporting audit trails, risk assessments, and control testing in accordance with professional standards (e.g., IIA Standards).

Culture & Training

Promote a strong risk-aware culture across the agency through training, policy development, and cross-departmental collaboration.

Serve as a subject matter resource to program and operations staff on risk identification and mitigation best practices.

Bachelor's degree in Finance, Accounting, Business Administration, Public Administration, or a JD (Master's degree preferred).

7+ years of progressive experience in risk management, internal audit, or compliance, with at least 3 years in a supervisory/managerial capacity.

Experience finance strongly preferred, ideally spanning both single-family (mortgage banking, homeownership programs) and multifamily (affordable housing development, loan underwriting, asset management) business lines, or public finance more broadly.

Working knowledge of HUD, GSE, and/or state housing finance agency regulatory frameworks. Demonstrated experience building or managing enterprise risk frameworks (COSO ERM or similar).

Qualifications

Bachelor of Science, Experience (7-10 years)

Experience

Experience (7-10 years)

EEO Statement

As an employer, PHFA is committed to having a workforce that is diverse and reflects the residents that it serves. We strive to maintain a workplace where all employees and applicants for employment receive equal opportunities in all aspects of employment. There are numerous policies in place at PHFA to help us honor this commitment.

The Pennsylvania Housing Finance Agency is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to age, disability, family status, gender, national origin, political affiliation, race or religion.

Diversity Statement

PHFA values, honors and commits to the equitable treatment and elimination of discrimination in all forms. We are committed to the diversity of all staff, and in all programs and services offered.