Senior Asset Manager, Special Assets (Distressed Multifamily Loans)

The Community Preservation Corporation•Chappaqua, NY

2d•Hybrid

About The Position

The Community Preservation Corporation (CPC) is seeking a Senior Asset Manager, Special Assets to oversee, analyze, and resolve a portfolio of high-risk, delinquent, and non-performing multifamily loans. This role focuses on affordable housing, LIHTC, Agency, and Non-Agency products. The Senior Asset Manager will independently manage complex distressed assets, develop workout recommendations, and collaborate with Legal, Credit, and Servicing teams on restructures, enforcement actions, and loss-mitigation strategies. Additionally, this role will provide guidance to junior team members to ensure consistency in credit practices and documentation.

Requirements

Bachelor’s degree required (Finance, Real Estate, or related field preferred).
5–7+ years of experience with strong knowledge of multifamily asset management and non-performing loans, including Agency and Non-Agency products (experience with LIHTC preferred).
Proven ability to manage complex assets and deliver clear, well-supported credit recommendations in a dynamic environment.
Proficiency in financial analysis, valuation concepts, and risk assessment, including experience evaluating cash flow, collateral performance, and business plans.
Strong communication, organizational, and negotiation skills, with the ability to effectively engage borrowers, investors, legal counsel, and internal stakeholders.
Ability to manage multiple priorities and drive outcomes in a fast-paced, high-accountability environment.
Travel required as needed.
Applicants must be authorized to work in the United States.
The Community Preservation Corporation does not provide employment sponsorship of any kind.
Candidates are responsible for ensuring they meet all minimum qualifications for the position at the time of application.

Nice To Haves

Experience with LIHTC

Responsibilities

Manage a portfolio of high-risk, delinquent, watchlist, and non-performing multifamily assets, ensuring proactive monitoring of performance, covenant compliance, and collateral condition.
Evaluate borrower financial strength, property performance, and business plans to assess credit risk, identify potential issues, and determine appropriate risk mitigation strategies.
Develop and execute asset-level workout strategies, including forbearance agreements, loan restructurings, repayment plans, and, where necessary, enforcement actions.
Partner with Legal and external counsel to manage enforcement processes such as receiverships, foreclosure, litigation, and negotiation of workout and restructuring documentation.
Serve as the primary point of contact for complex and distressed assets, leading borrower discussions, managing investor communications, and coordinating with internal stakeholders.
Prepare clear and concise credit memos, risk assessments, and recommendations to support decision-making by senior leadership and credit committees.
Maintain accurate and timely asset-level data and reporting within servicing systems, ensuring transparency and consistency across tracking tools and dashboards.
Monitor portfolio performance to identify early warning indicators and escalate emerging risks with recommended actions.
Support portfolio-level reporting and analysis, including identification of trends, risk concentrations, and performance insights.
Provide guidance and support to junior team members, promoting consistency in analysis, documentation, and overall asset management practices.

Benefits

Stable and sustainable affordable housing focus
Opportunity to work on impactful projects
Commitment to comprehensive neighborhood revitalization
Nationally recognized leader in affordable housing finance
Largest CDFI solely committed to investing in multifamily housing
Robust construction lending platform
Mortgage bank
Equity and impact investment platforms
Focus on Expanding Affordable Housing, Closing the Racial Wealth Gap and Investing in the Green Economy
Equal Opportunity Employer