DescriptionTitle: Asset Manager
Organization: MassHousing
Location: One Beacon Street, Boston, MA 02108
Website: https://www.masshousing.com
Position SummaryThe Asset Manager oversees the financial performance and physical condition of financed housing developments. This role ensures ongoing compliance with affordability requirements and program regulations for strong-risk properties and developments within the HUD PBCA portfolio. The Asset Manager is a primary point of contact for owners, management agents, and residents and responds to inquiries from federal, state and local partners. This position reports to the Portfolio Manager.
All positions at MassHousing require a customer service mindset in accordance with our values: Respect, Service, Empathy, Accountability, Collaboration, and Inclusion.
MassHousing operates under a hybrid work model; therefore, employees are expected to work on-site according to a schedule determined in collaboration with their manager and based on the needs of the role. To support effective onboarding, new employees may be required to work in the office more frequently during their first 90 days.
Essential FunctionsCompliance and Regulatory Oversight- Conduct and document property inspections to evaluate operational efficiency, financial management, and adherence to applicable federal, state and MassHousing program and loan requirements
- Monitor loan compliance and assess financial, physical, and regulatory risk ratings to accurately represent a property's overall risk profile ensuring informed decision-making and appropriate action plans
- Update Asset Management watchlist and develop risk mitigation plans as needed
Financial Analysis- Evaluate annual budgets and capital improvement plans provided by ownership or management agents
- Analyze audited financial statements to assess performance, identify issues, confirm cash flow obligations, and recommend distribution approvals to Portfolio Manager
- Analyze capital needs studies to evaluate adequacy of replacement reserve escrows and recommend strategies to address funding shortfalls to Portfolio Manager
Relationship Management- Serve as an active member of Deal Teams by collaborating with the Senior Asset Manager and providing comparable development data and operating budget analyses for Rental Lending and Underwriting staff
- Collaborate with Business Development and identify potential refinancing opportunities with a focus on prepaid, balloon, and maturing loans
- Partner with Senior Asset Managers to develop proficiency in key asset management functions and subject matter expertise
- Support departmental initiatives and participate in designated subcommittees to advance strategic objectives
Security- Comply with MassHousing's Information Security Program and all other Agency information security policies and procedures
- Take responsibility for any Agency assets assigned to you
- Promptly report any security events, incidents, or weaknesses to MassHousing's Information Security Team
Minimum Qualifications- Proficiency with Microsoft Office Suite
- Valid driver's license and ability to travel to Massachusetts properties as needed
- Eligibility to work in, and travel freely to and from, the United States without sponsorship
Preferred Qualifications- Bachelor's degree in Finance, Real Estate Management, Business Administration, or related field
- 2+ years of asset management or multifamily housing experience
Essential Characteristics- Energetic team player who has exceptional interpersonal skills, takes initiative, and has a dedicated focus on high-level customer service
- Strategic thinker with the dual capacity to see the big picture and attend to details
- Effective and resourceful problem solver
- Exceptional oral and written communication with comfortability in communicating at all levels of the Agency
- Comfortable multitasking, adjusts quickly to shifting priorities, and manages time efficiently in a fast-paced environment with limited supervision
Salary Range: $80,493.30 - $104,641.29 
