Asset Manager

Community Housing Development Corporation

Asset Manager

Department: Executive

Reports to: CFO

Supervises: None

Status: Full-time, Exempt

Work Hours: General office hours

JOB SUMMARY: The Asset Manager works closely with Housing Development and Property Management.  The primary focus of this position is to monitor portfolio operations; set operational benchmarks; track financing milestones and initiate plans for refinancing and rehabilitation as necessary to ensure long term viability of the projects; and to facilitate transition of new projects to Accounting and Property Management.  Tasks include portfolio analysis, budget monitoring including quarterly financial review.   The position requires an analytical, numbers-oriented and systems-oriented person, with experience in affordable housing, dedicated to sustaining affordable housing in the community.

ESSENTIAL DUTIES AND RESPONSIBILITIES include, but are not limited to, the job specifications contained herein.  Additional duties or job functions that can be performed safely may be required as deemed necessary by supervisory personnel.

JOB DUTIES:

• Work closely with property management staff to assess financial performance, to monitor budgets to corporate benchmarks and monitor operational performance relative to long term strategic plan.

• Annually monitor project performance relative to proforma, update the limited partner buyout criteria and incorporate into long term plan.  Plan limited partnership buyout and negotiate sources of funds to facilitate buyouts. Develop strategies for financial restructuring and/or amend regulatory agreements as necessary to stabilize operations.

• Work closely with housing development staff to ensure long-term sustainability of new affordable housing developments.

• Develop and monitor project cash flow projections, reserve accounts, and capital plans.

• Assist in the development of new affiliate corporations and analyze the terms of proposed partnership agreements.

• Research partnership agreements, financing documents, regulatory agreements, tax returns and other sources to determine financing structures and constraints.  Develop long term debt plan including amortization of soft debt, refinancing parameters, recapitalization of reserves and cash proceeds for acquisition or distribution.

• Ensure compliance with financial lenders and governmental regulators.

• Review reports prepared by property management to investors and regulatory agencies.

• Advocate for local, state, and federal policies to ensure that affordable housing developments can be sustained as community assets.

• Ensure corporate entities’ compliance with governing documents.

• Ensure appropriate and adequate insurance coverage at all times on housing developments.

• Represent organization with government agencies and private lenders.

MINIMUM QUALIFICATIONS/REQUIREMENTS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.  The requirements listed below are representative of the knowledge, skills, and/or abilities required to perform the job successfully.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the job.

REQUIRED SKILLS:

• Familiarity with affordable housing development in the public or nonprofit sector. Knowledge of public and private housing finance programs, including HUD’s 202, HOME, and Section 8 programs; State RHCP, CHRP, and MHP programs; and low-income housing tax credits preferred

• Ability to prepare and analyze financial statements and development proformas

• Ability to read/interpret loan documents and regulatory agreements

• Ability to work independently as well as in team structure

• Ability to be flexible and perform varied work activities

• Strong financial, analytical, communication, and organizational skills

• Good conflict resolution and problem-solving skills

• Excellent verbal and written communication skills

MINIMUM QUALIFICATIONS:

• BA degree and/or five (5) years experience in accounting, real estate development/finance or property management

PHYSICAL DEMANDS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.  Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.   While performing the duties of the job, the employee is regularly required to use hands to finger, handle, or feel, reach with hands and arms and talk or hear.  The employee requires dexterity in using telephone, computer keyboard, mouse and calculator while seated at a desk.  The employee is frequently required to stand, walk, site and stoop.  The employee must regularly lift and/or move up to 15 pounds.  The employee frequently moves within the building and travels throughout the community.  Specific vision abilities required by this job include close vision, depth perception and ability to adjust focus.

Disclaimer: The employer reserves the right to change or assign other duties to this position.

The CHDC is an AA/EEO Employer.  We are committed to creating an environment that values and supports diversity, equity and inclusiveness across our community and encourage applications from qualified individuals who will help us achieve this mission.