Title - Asset Manager

Schedule - In office and ability to travel about 50% the first year. Travel will go down in subsequent years.

POSITION SUMMARY / PURPOSE

Asset Managers ensure that each affordable housing community is being developed and maintained in accordance with IRS Section 42 regulations. The Asset Manager must minimize the risk of tax credit recapture through the identification and notification of potential problems that may lead to recapture. The Asset Manager will be responsible for monitoring a portfolio of affordable housing partnerships and loans to maximize long term performance and the annual delivery of tax credit benefits are being met.

ESSENTIAL FUNCTIONS

• Establish and maintain an excellent working relationship with stakeholders of the property
• Maintain a detailed working knowledge of each project within assigned portfolio
• Reviewing and understanding limited partnership agreements, regulatory agreements, financing documents, and other sources to determine enforceability of terms.
• Manage construction schedules, lease up schedules, cost certification, and 8609 executions to ensure timely delivery of first year credits

• Performs quarterly construction site visits to properties under construction within their portfolio

• Review and approve documentation submitted to satisfy requests and process capital call payments to properties in portfolio
• Monitor, analyze, review and report on financial performance of the assets, including quarterly and annual statements, income and expense analysis, and balance sheet analysis, budgets and occupancy in assigned portfolio financials ensuring accuracy.
• Analyze property performance, valuation, market trends and operational strengths and weaknesses to inform strategies for maximizing value to the company.
• Identify watchlist properties and develop strategies to overcome all issues
• Work to resolve problems through collaboration with asset management team, general partners, property managers, lenders and governmental agencies.

• Analyze financial performance of collateral, borrowers, guarantors, key principals and other stakeholders.
• Performing risk assessments of the investments, markets, and partners, and managing corrective strategies when performance issues are detected

• Review the published list of properties that should be considered for refinance and disposition.
• Provide operational feedback to inform of design, leasing, financing and disposition strategies for new development projects.

MINIMUM EDUCATION/EQUIVALENT EXPERIENCE REQUIREMENTS

Bachelor's degree is required, preferably in business administration, public policy, finance, economics, or related field.

3 - 5 + years of profession experience is required, preferably in affordable housing, property management, public finance, government, or a related field is required.

Ability to read income and expense statements preferred.

Core competencies and experience in property management and real estate finance strongly preferred.

Proficiency in real estate terminology and concepts is required; basic knowledge with affordable housing programs at the City, State, and Federal elvels encouraged such as low-income tax credit (LIHTC), HOME, Section 8 preferred.

Strong verbal and written communication and public presentation skills is a requirement

Strong organization skills and ability to coordinate complex activities, prioritize conflict demands and meet deadlines

Strong computer skills with a thorough knowledge of MS Word, Excel, and Outlook.

Ability to travel about 50% the first year. Travel will go down in subsequent years.

#LI-MW1