Asset Manager

Nevada HAND Inc•Las Vegas, NV

12d

About The Position

The Asset Manager works closely with Real Estate Development, Finance, and Property Management teams to ensure the long-term financial and physical sustainability of the organization’s portfolio. Key responsibilities include interacting with investors, lenders, regulatory and government agencies to fulfill reporting requirements and obtain transaction approvals.

Requirements

Bachelor’s degree in a relevant field of study preferred. In lieu of degree, an additional five years’ experience in the area(s) noted below.
Five years’ experience in financial analysis and reporting, asset management, or affordable housing development including LIHTC.
Proficient oral and written communication skills.
Proficient in financial analysis using Excel spreadsheets.
Proficient in Microsoft Office products.
Real estate acumen, affordable housing preferred.
Advanced financial analytical ability.
Capacity to establish and monitor property performance expectations.
Must possess a valid driver’s license, vehicle and vehicle insurance.

Nice To Haves

Certified Housing Asset Manager (CHAM) Certification preferred.

Responsibilities

Responsible for an assigned property portfolio consisting of new, re-syndicated and stabilized properties acting as primary contact for investors and lenders.
Coordinate all responses to questions and requests from investors/lenders regarding assigned portfolio including coordination of site inspections.
Ensure timely submission of financial reports and other reporting requirements to partners, lenders, regulatory agencies, and other interested parties. Research reporting requirements for new partnerships and update the master reporting calendar.
Create and maintain the monthly unit tracker, tax credit calculation estimates and lease-up reporting on new and re-syndicated projects for internal use as well as investors and 3rd party auditors. Create the unit mapping worksheet for new projects and collaborate with the Director of Compliance and the VP of Asset Management to assign set-asides to each unit.
Collaborate with the Real Estate Development and Property Management teams to create proformas and long-term strategic plans for new properties. Perform analyses comparing actual to proforma.
Collaborate with the Property Management, Finance and Asset Management teams to prepare annual operational budgets for assigned properties focused on optimizing property revenue and managing expenses to maximize cash flow and economic benefits to Nevada HAND, its affiliates, and investors. Ensure timely submission to Investment Committee, investors and lenders as required.
Assist with management of the physical health of the portfolio by participating in property site visits. Assist with the management and dissemination of site inspection reports and analyses to the Property Management team, Executive Leadership Team, and other appropriate parties. Follow up using various methods (e.g., reviewing financial reports for purchases, conducting re-inspections, reviewing documents provided by staff) to ensure that any needed improvements are completed.
In collaboration with the Property Management team, Resident Services team, and other appropriate parties, develop annual capital budgets for each assigned property.
Calculate, review and monitor property cash flow distributions for assigned properties in accordance with each respective limited partnership agreement (LPA). Create cash flow calculations for new or re-syndicated properties following the requirements stated in the Limited Partnership Agreements (LPAs).
In collaboration with appropriate teams, comprehensively analyze ongoing property financial reports to problem-solve and proactively affect necessary changes for under-performing assigned properties.
Develop asset management plans for assigned properties to correct impediments to property cash flows as needed; facilitate plan status updates.
Maintain and utilize asset management systems, tools, and financial models to forecast and communicate long-term outcomes based upon current property results.
Assist in the creation and refinement of the reporting procedures, database, and other informational systems used to collect data, track projects, enhance communication, and disseminate findings and results.
Collaborate with the Real Estate, Property Management, and Finance teams to create, monitor and maintain project deal book information within the shared drive database.
Prepare and submit reserve withdrawal requests for assigned properties. Develop reserve analyses based on long-term capital needs assessments.
Interpret and monitor partnership, lender and interested party documentation to ensure ongoing compliance requirements are met.
Participate in collaboration discussions with Property Management to evaluate policies and procedures that support the best interests of owners/investors as well as Nevada HAND’s mission.
Collaborate with business units throughout the life stage of properties from pre-development to disposition.
Perform various financial and analytical analyses as assigned including but not limited to Yardi Spreadsheet Links (YSLs), Quarterly Operations Reports (QOR), Quarterly Financial Performance Reports, Board Reports/Dashboards, Watchlist Properties, Rent Analyses, and Rent Burden Analyses.
Perform other duties as from time to time may be determined necessary for the well-being of the total operation.
Coordinate specific work tasks with other personnel within the department as well as with other departments in order to ensure the smooth and accurate flow of work and information.
Perform tasks which are supportive in nature to the essential functions of the job, but which may be altered or re-designed upon individual circumstances.