Asset Manager- East Region

National Equity Fund•New York, NY

11d•Onsite

About The Position

National Equity Fund, Inc. (NEF), a non-profit syndicator of low-income housing tax credits, is seeking an Asset Manager-East to conduct new business initiatives. The role is part of a Transaction and Asset Operations Team and is responsible for property and asset management issues from investment proposal development through the life of the lower-tier partnership, supporting the ongoing delivery of tax credit benefits and projected passive losses. The Asset Manager evaluates investment proposals and transaction plans, identifies and mitigates risks, manages relationships with General Partners and other project stakeholders, and oversees construction, lease-up, funding, compliance, and ongoing property operations. The role also supervises an assigned Asset Management Analyst and undertakes special projects. The posting lists the New York corporate office as the job location, while also stating that candidates in the western region are sought.

Requirements

Bachelor’s degree in real estate finance, economics, business, accounting, or a related field.
At least 5 years of responsible experience in asset management, property management, or real estate finance.
Strong track record in asset management and knowledge of multifamily real estate operations, including market analysis, property management, finance, marketing and leasing, budgeting, financial reporting, and compliance with financing covenants or regulatory agreements.
Strong analytical and financial analysis skills, including the ability to recognize, investigate, interpret, and communicate warning signs and devise intervention strategies.
Demonstrated success building relationships with colleagues and customers.
Computer skills in word-processing, spreadsheet, and presentation software.
Ability and willingness to travel.
Self-direction and resourcefulness, including the ability to work with minimal direction and day-to-day support and to operate in a multitasking, cross-functional team.
Creative problem-solving skills and the ability to develop solutions and reach workable resolutions among demanding parties.
Collaborative, team-oriented approach and willingness to commit to team goals and accept responsibility and accountability.
Leadership, confidence, perseverance, and ability to influence others.
Strong written, verbal, and presentation skills.
Strong relationship-building and networking skills, with comfort managing company and customer expectations.
Adaptability in a fast-paced, multitasking environment, including willingness to tolerate ambiguity and risk.

Nice To Haves

Master’s degree preferred.
Experience with or technical knowledge of Section 42.

Responsibilities

Analyze investment proposals for financial feasibility from a property and asset management perspective; coordinate review of transaction plans and identify and mitigate risks involving budgets, reserves, and development timelines.
Establish and maintain relationships with General Partner staff and explain management, documentation, and reporting obligations under partnership agreements.
Manage construction, lease-up schedules, cost certification, and execution of IRS Form 8609 to support timely delivery of first-year credits; intervene when appropriate.
Manage disbursements of construction, developer fee, and reserve funding equity payments.
Monitor operations during the compliance period through statistical analysis and on-site inspections; provide technical assistance and seek reliable project information, particularly concerning tax credit benefits and investor reporting.
Assign project risk ratings under NEF criteria and develop action plans to address identified risks when warranted.
Manage assigned Asset Management Analysts; oversee their financial analyses, documentation, data entry in SMT, and other work, and mentor them in risk identification and mitigation.
Assess project and partnership risks related to Section 42 and partnership agreement requirements; oversee compliance reviews and follow up on deficiencies or Form 8823 filings.
Ensure adequate, continuous insurance coverage; monitor mortgage status and non-permitted encumbrances such as mechanic liens; conduct inspections, follow up on code violations and health and safety conditions, and assess future capital needs and their financial impact.
Build productive working relationships with project sponsors, lenders, municipal and allocating agencies, LISC, and other intermediaries; promote information sharing and problem-solving, provide customer service, and seek opportunities to extend NEF’s services.
Undertake special projects as assigned.