Asset Management Associate

Conifer Realty•Rochester, NY

12d•$95,000 - $115,000•Remote

About The Position

ASSET MANAGEMENT ASSOCIATE - AFFORDABLE HOUSING NORTHEAST (Remote, New York or New Jersey Preferred) About Conifer: Conifer Realty, LLC is a dynamic, vertically integrated organization that creates and manages high-quality affordable and work-force housing. Conifer is devoted to growth, to innovation and being a best -in -class developer.Conifer has a 45-year investment and development history with over 15,000 units owned and managed today. Along with its affiliate, Conifer is one of the Top 20 owners in the nation. We currently have an East Coast portfolio and are looking to rapidly expand. At the heart of Conifer is an experienced team of more than 500 highly skilled and passionate professionals. The team’s demonstrated entrepreneurial spirit has secured our leadership role in the affordable housing industry. Visit Conifer's website to understand our history, mission, and values at link: https://coniferllc.com/ OVERVIEW: Under the guidance and supervision of the Vice President of Asset Management, the Associate-Asset Management is responsible for monitoring property performance and maximizing property revenue to ensure optimal value of assets is achieved. This includes providing strategy, direction, oversight and balancing of costs, risks, and opportunities against desired performance of assets in the portfolio.

Requirements

Bachelor’s degree in accounting or finance required.
Minimum 5-7 years relevant Asset Management experience with demonstrated institutional analytical and quantitative skills, ideally within multi-family real estate.
Accounting and Financial Analysis and Budgeting Skills
Advanced Excel knowledge (Macros, Pivot Tables)
Proficiency with MS Office (Word, Excel, Outlook, SharePoint)
Adaptable; flexible to multi-task several projects at one time
Excellent business judgment, professionalism, and practices to handle day-to-day matters.
Demonstrated strong analytical skills and financial modeling experience
Travel to specific Conifer site required

Nice To Haves

Master’s Degree preferred.
Prior experience in Multi-family Real Estate preferred
Multi-Family Affordable Real Estate preferred
Yardi Voyager or equivalent housing software preferred

Responsibilities

Monitor operations of portfolio, analyze data and report to required staff and senior management.
Compare site performance and projections to similar properties in the portfolio and industry data. Utilize per unit cost and consumption comparisons.
Analyze variances and review with property management staff to adjust as deemed appropriate.
Recommend strategies for maximizing value and returns for assets and monitor to ensure performance is meeting ownership objectives
Review assigned properties to gain thorough understanding of the “deal” including financing, regulatory requirements, reporting and owner/investor goals.
Monitor any partnership agreement amendments and understand their impact on operations.
Assist property management staff in decisions that affect the asset long term to determine and understand its relationship to the established goals for the asset and determine methodology to monitor its affect.
Work with property management staff to ensure that the potential of the property’s value and benefit to Conifer is maximized.
Coordinate and oversee monthly/quarterly financial review of portfolio.
Visit assigned sites and participate in site audits, as requested.
Ensure escrow accounts are funded at the proper levels and that tax payments are correctly calculated (including PILOT’s) and made timely.
Monitor reserve balances to ensure appropriate funding and draw down requests are made accurately and timely.
Work with Property Finance in evaluation of possible refinancing, disposition or change of use of assigned properties.
Maintain and foster relationship with lenders and investors post-closing for assigned sites.
Oversee annual budget preparation process for portfolio.
Compare projections to comparable experience in the portfolio and to industry data.
Compare projections to original proforma and analyze variances.
Assist with preparation of pro forma income statements for Development underwriting purposes and coordinate review with Property Management team.
Participate in periodic review meetings for projects transitioning from Development to Operations.
Assist with due diligence on potential acquisition opportunities
Financial analysis, modeling, and portfolio stress testing, as needed
Other special projects and job-related duties, as assigned