Affordable Asset Manager

Walker & Dunlop•Bethesda, MD

7d•$100,000 - $110,000•Hybrid

About The Position

As a member of W&D Affordable Equity’s Asset Management Department, the Affordable Asset Manager is responsible for maximizing asset values and limiting risk liabilities across an assigned Low-Income Housing Tax Credit (LIHTC) portfolio. The role manages affordable housing developments by overseeing third-party property management companies, conducting site visits, reviewing financial and compliance information, and maintaining relationships with developer partners. The Asset Manager reviews and analyzes property-level financial data, including annual operating budgets, quarterly financial statements, residual receipts, year-end audited financial statements, and tax returns. The position also supports partnership reporting, strategic workouts, and Year 15 exit strategies, and provides portfolio analysis and recommendations to Senior Management. The role generally requires attendance from 8:30 a.m. to 5:30 p.m. local time, Tuesday through Thursday, with the option to work remotely on Mondays and Fridays.

Requirements

Bachelor’s degree in Business Administration, Finance, Economics, Accounting, or a related field; equivalent experience is considered.
At least 5 years of experience in affordable housing asset management, particularly with LIHTC portfolios.
Strong background in real estate operations, financial analysis, budgeting, reporting, and general accounting.
Experience managing financial performance across a portfolio of properties.
Strong written and verbal communication, presentation, interpersonal, organizational, and negotiation skills.
Advanced analytical and problem-solving abilities, strong knowledge of accounting principles, and ability to interpret financial statements and underwriting models.
Proficiency in portfolio and investment analysis, including IRR, XIRR, NPV, NOI, cap rates, DSCR, sensitivity analysis, equity installment tracking, yield maintenance calculations, and cash flow distributions.
Ability to present complex financial and portfolio analysis to Senior Management and collaborate effectively within a broader asset management team.
Ability to manage multiple priorities in a fast-paced environment while exercising sound judgment and maintaining a positive, team-oriented approach.
Strong attention to detail and ability to oversee portfolio data integrity and reporting accuracy.
Proficiency in Microsoft Office applications.
Ability to take ownership of work, take on challenges, acknowledge growth opportunities, and demonstrate patience when learning new processes.
Courtesy, respect, and thoughtfulness when working with colleagues and other stakeholders.

Nice To Haves

Workout and restructuring experience is strongly preferred.
Familiarity with Access, FileMaker, PowerPoint, and Crystal Reports.

Responsibilities

Partner with Acquisitions during underwriting to evaluate projected operating performance, investment assumptions, partnership structures, sponsor and property management capacity, and relevant market data.
Assess deal structure, risk exposure, and overall investment viability.
Manage the financial and operational performance of an assigned multifamily LIHTC portfolio.
Review monthly property management reports and evaluate key performance indicators, including vacancy, delinquencies, turnover, and budget-to-actual variances.
Analyze annual budgets, quarterly financial statements, audited financials, and K-1 tax returns.
Monitor construction, lease-up, stabilization, ongoing operations, and compliance with Section 42 and applicable state agency requirements.
Evaluate and approve equity installment requests, equity adjustments, yield maintenance calculations, and reserve withdrawals within defined authority limits.
Perform surplus cash calculations and coordinate fee and cash flow distributions.
Monitor guaranty triggers, including completion, operating, and tax credit delivery, and assess guarantor financial capacity.
Strengthen property monitoring and risk management processes, including oversight of third-party property management firms.
Maintain accurate and complete portfolio records and internal databases.
Develop and maintain strong relationships with general partners and sponsors, and implement asset management strategies to enhance investment value.
Provide refinancing, disposition, acquisition, restructuring, and workout support for distressed assets.
Evaluate economic and demographic trends and assess their impact on portfolio performance.
Prepare investor reports and deliver presentations to investors, clients, and Senior Management.
Assist with special projects related to partnership reporting, strategic workouts, and Year 15 exit strategies.
Perform other duties as assigned.

Benefits

Up to 83% subsidized medical payroll deductions.
Competitive dental and vision benefits.
401(k) with match.
Pre-tax transit and commuting benefits.
Health and wellness program with cash rewards and resources promoting health, engagement, and balance.
Paid maternity and parental leave, as well as other family paid leave programs.
Company-paid life, short-term disability, and long-term disability insurance.
Health Savings Account and Healthcare and Dependent Care Flexible Spending Accounts.
Career development opportunities.
Volunteer hours and donation matching.
Discretionary bonus.