Asset Manager, REM
San Rafael, CA 94901
Position is for a full-time (37.5 hrs/wk) Asset Manager – REM to work at the Corporate Offices of EAH Housing in San Rafael, CA. Qualified Candidates will have a bachelor’s degree or equivalent combination of education/training/experience. 5 years in affordable housing. Experience in reporting to and working with agencies such as HUD, TCAC, CHFA, HOME, USRDA, HCD, RHCP, and investors. Knowledge of YARDI & CRM preferred. Accounting and/or Finance Education preferred. Pay is commensurate with experience.
EAH Housing has been developing, managing and promoting affordable housing since 1968. We are one of the largest and most respected nonprofit housing development and management organizations in the western United States. With a staff of over 450, EAH develops multi-family housing, manages over 100 properties in California and Hawaii, and plays a leadership role in local, regional and national housing advocacy efforts. At EAH, we put our core values into action on a daily basis. We recognize that training is a critical investment in the success of our employees and in the continued excellence of EAH. Please visit our website to learn more about our culture and read employee comments to learn more about what it would be like to work at EAH. For immediate consideration, please apply to requisition #18-0105 on our website at www.eahhousing.org/careers
The REM Asset Manager is directly responsible for ensuring the long-term financial health of EAH properties and that the properties meet EAH, owner and lender requirements. Acting on own initiative, the REM Asset Manager is responsible for reviewing and analyzing the portfolio against benchmark performance and assisting in the development of corrective action plans to address Watch List property issues. This position is integrally involved in monitoring budget-to-actual variances and communicates issues and proposed solutions to REM Property Directors/Supervisors and Facilities Managers, RED Asset Manager, CFO, COO and Vice President of REM. RESPONSIBILITIES
• Acts as primary contact for lenders, investors and regulatory agencies for budget approvals.
• Reviews and distributes annual audits to lenders, investors and regulatory agencies.
• Coordinates monthly, quarterly and annual reporting as required by lenders, investors and regulatory agencies.
• Works with REM Directors/Property Supervisors to analyze budgets against EAH benchmarks and goals and proposes creative solutions to operating cash-flow, financial ratio issues, and long-term capital needs.
• Works with Compliance Director to confirm Maximum Rent, establish rent burden policies and set goals for annual rent adjustments/increases.
• Reviews budgets and participates in budget review meetings to ensure properties are meeting rent increase objectives, affordability, operating expenses per unit, reserve funding, EAH affiliate fees, and surplus cash distribution goals required under all agreements or regulations.
• Assists the Budget Committee to refine current procedures and workflow.
• May provide budget, asset management and other trainings as required to Property Supervisors.
• Reviews the Property Supervisor’s completed Property Management Contract Renewal packets and Management Certifications prior to submission.
• Reviews and tracks all reserve draw requests.
• Reviews long-term capital plans for portfolio properties.
• Monitors portfolio to ensure that operating expenses are in-line with budget and that variance explanations meet EAH and investor/lender requirements.
• Ensures that all financial plans and regulatory agreements meet asset management requirements
. • Reports monthly in the Asset Management meeting with any issues.
• Provides enhanced review and analysis of Watch List properties and properties outside of established benchmarks.
• Monitors that properties moving into operations are meeting Pro forma performance through first complete fiscal year of full operations. Prepares DCR worksheets for perm loan closing.
• Completes portfolio analysis and summary reports as required.
• Maintain and update fields and information in CRM including important dates and loan information as required.
• Identifies and creates reports in Yardi and CRM to help assist Property Supervisors and upper management.
• Creates a positive work environment with a focus on cross-functional collaboration and teamwork.
• Attends agency/investor-sponsored training.
• Attends mandatory meetings and trainings
• Actively participates in EAH’s Injury and Illness Prevention Plan
• Regular and predictable attendance.
• Work collaboratively with RED Asset Manager on projects of mutual interest to REM and Development.
• Ability to write reports, business correspondence and procedure manuals in layperson language.
• Possesses the ability to effectively present information, complex regulations and requirements and respond to questions from managers, clients, customers, regulatory representatives and the general public.
• Possesses the demonstrated ability to work mathematical concepts such as probability and statistical inference. Ability to apply concepts such as fractions, percentages, ratios and proportions to practical situations.
• Excellent problem solver – one who enjoys complexity.
• Able to deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram or schedule form.
• Self-motivated; able to work well independently
• Ability to use computer/adapt to different software. Advanced level of Excel proficiency
• Requires a high level of mental concentration, despite frequent interruptions.
• Proven ability to create and manage performance database (CRM).
Bachelor’s degree or equivalent combination of education/training/experience. 5 years in affordable housing. Experience in reporting to and working with agencies such as HUD, TCAC, CHFA, HOME, USRDA, HCD, RHCP, and investors. Knowledge of YARDI & CRM preferred. Accounting and/or Finance Education preferred.
We offer a comprehensive benefits package that includes medical, dental, vision, disability and life insurance, as well as a 403(b) retirement plan with company match. We also offer a generous vacation accrual, holiday schedule and work schedule flexibility.
EAH Housing is an AA/EEO/Veterans/Disabled Employer. CA BRE #00853495 | HI RB-16985