AVP Multifamily Agency Asset Management
About The Position
The Community Preservation Corporation (CPC) believes stable and sustainable affordable housing is the foundation of strong communities and we strive to contribute to comprehensive neighborhood revitalization through our lending and partnerships. A nationally recognized leader in affordable housing finance, CPC has provided a consistent source of capital to underserved housing markets throughout New York State since our inception in 1974. Today, CPC stands as the largest CDFI solely committed to investing in multifamily housing, having invested more than $15 billion to finance the creation and preservation of more than 230,000 units of quality housing in neighborhoods across New York State and beyond. CPC has a robust construction lending platform, a mortgage bank, and equity and impact investment platforms that focus on our three goals: Expanding Affordable Housing, Closing the Racial Wealth Gap and Investing in the Green Economy. As a member of our team, you'll have the opportunity to work on impactful projects that make a real difference in people's lives. We're looking for talented individuals who are passionate about our mission and share our values of commitment, respect, excellence, accountability, and collaboration. Role Summary: This role is responsible for implementing the strategic direction set by the Director of Servicing and Asset Management while maintaining strong relationships with stakeholders across CPC’s loan portfolio. The position oversees a team of Asset Managers tasked with identifying and mitigating credit, financial, operational, physical, and market risks impacting properties collateralizing the portfolio. The role requires close collaboration with internal teams and external partners—including borrowers, guarantors, government agencies, developers, owners, managers, Fannie Mae, Freddie Mac, FHA, and other industry groups—to preserve the value of housing financed by CPC mortgage loans.
Requirements
- Bachelor’s degree required. Master’s in Business, Finance or Real Estate preferred.
- 5 - 7 years' relevant experience in a leadership role within real estate asset/portfolio management, finance, development, or underwriting ideal.
- Understanding of multifamily rental housing development, ownership, operational and management.
- Familiarity with federal, state and local affordable housing programs.
- Demonstrated ability to manage multiple projects and assignments, meet deadlines, coordinate and communicate effectively and cultivate professional relationships.
- Excellent oral and written communication skills.
- Superior presentation skills and problem-solving skills.
- Ability to travel, as necessary.
Nice To Haves
- Experience with agency multifamily asset management requirements preferred.
Responsibilities
- Lead and manage a team of Asset Managers responsible for identifying, monitoring, rating, and mitigating financial, credit, operational, physical, and market risks impacting properties collateralizing mortgage loans within CPC’s portfolio.
- Oversee the review, analysis, and submission of loan and property-level asset management consent requests.
- Monitor borrower compliance with loan documentation and CPC’s risk exposure requirements.
- Ensure timely and accurate communication with borrowers, principals, and sponsors, deliver exceptional customer service and respond promptly to inquiries.
- Review and approve reserve withdrawal requests for eligible expenditures.
- Collaborate with internal and external partners to strengthen CPC’s risk management framework, inform stakeholders of portfolio risks and issues, and assist in quantifying CPC’s risk exposure.
- Work closely with stakeholders to mitigate portfolio risks and ensure adherence to servicing and asset management requirements.
- Supervise, train, and mentor Asset Management staff, fostering professional development and team effectiveness.
Benefits
- Competitive compensation
- 401(k) retirement plans with employer match
- Medical, dental, and vision benefits for employees and their dependents
- Commuter benefits
- PTO for vacation, personal days, sick leave, holidays, jury duty, bereavement, parental leave, and disability
- Tuition assistance program
- Two “work from anywhere” weeks per year
- Summer Fridays
- Collaborative working spaces
- Service days to support our communities
- Employee development and engagement events
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What This Job Offers
Job Type
Full-time
Career Level
Manager
