Federal Home Loan Bank of Boston Housing & Community Investment Analyst in Boston, Massachusetts

Housing & Community Investment Analyst

Location: Boston

Job Code: 262

of openings:



The Federal Home Loan Bank of Boston is a leading provider of wholesale funding for housing and community finance in New England serving more than 440 financial institutions across the region. The Federal Home Loan Bank of Boston is committed to making New England a better place to live and do business, and our employees are integral to our success. As a cooperative, we are owned by more than 440 banks, credit unions, insurance companies, and community development financial institutions that access tens of billions of dollars of our reliable, wholesale funding each year. Our funds are a vital resource that helps our members succeed, provide families with safe, decent affordable housing, and generate economic development that creates jobs in communities throughout our region.

Our highly skilled team of 200 is diverse, innovative, collaborative, and passionate about the work we do. We seek other professionals excited to share their knowledge, talent, and passion for our mission to join our team. We offer opportunities for career development, robust benefits, and a work-life balance.

Position Summary

The HCI Analyst is responsible for the completion of reviews, analysis, and reporting of projects funded through FHLBank Boston’s special programs for affordable housing and community development to ensure compliance with federal regulations, program policies, and Bank procedures. This position requires the incumbent to perform functions with a high degree of attention to detail and independence. This role primarily supports two of our core programs – the Equity Builder Program (EBP) and the Affordable Housing Program (AHP).,

This role is ideal for someone with limited experience in a related field that enjoys using their financial acumen, analytical and customer service skills in a highly collaborative team environment. Minimal travel may be necessary for this role.

This role is responsible for assisting with the primary review, analysis, and recommendation of EBP homebuyer qualification and household income calculations and subsidy disbursement transactions, including communications with the member financial institutions on issues and clarifications. He/she will perform EBP and AHP backup responsibilities for the Equity Builder Program Manager, which may include, but not limited to, monthly HCI program reconciliations and AHP project modification rescoring, preparation of training materials and leading training sessions, system testing for enhancements and fixes, and assistance with updating policies and procedures. When not reviewing EBP transactions as a primary reviewer, this position will assist with the compliance review, analysis, and approval of those transactions.

This role will support the Affordable Housing Program (AHP) with compliance responsibilities for the review and analysis of AHP initiative monitoring reports, project monitoring review at project completion, and review, analysis, and recommendation of subsidy disbursement transactions.

During the annual AHP funding round, the incumbent will perform the same or similar functions as the other team members and will assist in the online application testing and other round preparation and during the round will review and analyze AHP applications for recommendation for funding. He/she will also prepare individual application recommendation reports and assist department management in the analysis and reporting of the round recommendations for senior management and the Board.

The position may also be responsible for other program reporting, such as to the Board of Directors or Advisory Council, management, or the department. This position will cross-trained to support additional positions and processes within the department. The incumbent will be assigned other duties as needed.

Principal Accountabilities

45% Equity Builder Program – Review for compliance with AHP regulation and department policies and procedures of the following:

  • Review EBP household income calculations and enrollments and make a recommendation to the secondary reviewer

  • Review and recommend of EBP subsidy disbursement requests

  • Review and processing of EBP subordination requests, net gain/recapture calculations, and foreclosure notifications

  • Preparation and presentation of member and staff trainings

  • Effectively support members with program technical assistance

45% Affordable Housing Program - Review for compliance with AHP regulation and department policies and procedures of the following:

  • Review, analysis, and recommendation of AHP modifications, as needed

  • Review, analysis, and recommendation of AHP subsidy disbursement requests

  • Review and analysis of AHP completion monitoring

  • As a member of the team, prepare for AHP funding round, review scoring and financial feasibility of AHP applications, prepare individual application recommendation reports, assist with management and Board AHP round/application recommendations analysis and reporting

10% Other Analyst work

  • Cross-training to support additional positions and processes within the department

  • Assist with the preparation/maintenance of program foreclosure review and reporting

  • Assist in monthly reconciliation of AHP/EBP program subsidies to accounting records

  • Assist in preparation of periodic FHFA reporting and assistance with FHFA requests

  • Assist in preparation/distribution of all monthly AHP portfolio/staff-monitoring reports

  • May be required to perform site visits within New England

  • Other tasks and special department projects, including special research and/or reports related to affordable housing and community economic development

  • Participation in department outreach, training, and educational activities

  • Provide other assistance to team members

  • Other duties as assigned



  • A minimum of 3 years’ work experience in a related field, preferably affordable housing, community development, and/or financial services/banking is required.

  • Training in or knowledge of national, state, and local affordable housing and community development programs, agencies, and organizations is preferred.

  • Experience with financial statements, construction budgets/operating proformas is desired.

  • Ability to read and interpret legal documents is a plus.

  • Experience in working with affordable homeownership programs and homebuyer income qualification is a plus.


  • Bachelor’s degree, preferably in a related field, or equivalent work experience. Master’s degree is a plus.


  • Strong interpersonal skills are required, including the ability to work well on team-based projects and the ability to work independently.

  • Strong time management and organizational skills are required.

  • Strong analytical skills and excellent attention to detail are required.

  • Proficiency in effective written and oral communication is required.

  • High degree of customer service to ensure a positive member experience.

  • Diligence in adherence to policies, while seeking process improvements.

  • Strong computer proficiency is required, including Microsoft Excel and Word.

The Federal Home Loan Bank of Boston is committed to building and sustaining a diverse workforce that reflects the communities that we serve. As an Equal Opportunity

Employer, we strongly encourage applicants from every ethnicity, color, religion, gender, age, national origin, disability, veteran or parental status and sexual orientation.

Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.