Senior Asset Manager

TENDERLOIN NEIGHBORHOOD DEVELOPMENT CORPORATION•San Francisco, CA

10d•Hybrid

About The Position

Under the general direction of the Director of Asset Management, the Senior Asset Manager is responsible for ensuring that a sub-portfolio of TNDC properties achieves the financial, physical, and social goals and standards of the owner, TNDC, and its funders. Of particular importance is planning property and portfolio re-capitalization and execution of partner exits. Overall, there is exposure to many issues with many opportunities for creative problem solving. This is a very good opportunity for professional development in real estate.

Requirements

Ability to comprehend and correctly use informational documents including budgets, financial reports, occupancy reports, bids, contracts and meeting minutes
Ability to prepare policies, procedures, compliance reports, investor/owner reports and correspondence
Ability to comprehend publications and manuals including HUD and tax credit manuals, industry publications and legal documents
Ability to communicate effectively with coworkers and staff at all levels, residents, government officials, both verbally and in writing
Ability to stay informed of changes in policy, methods, operations, etc. as they apply to property and asset management operations and activities
Intermediate knowledge of MS Excel, Word, and Outlook
Ability to work with and sensitivity to a diverse, low-income, multi-ethnic population
Sound judgment, excellent analytical and problem-solving skills
Strong time management skills
Four-year college degree
Five years of direct experience in non-profit owner asset management as a full-charge asset manager.
Demonstrated abilities in all five of these areas: Property Asset Management Plan writing, including Partner Exit Plans Capital Needs Projections Surplus cash analyses for audits Contract analysis Project management
High level specialist knowledge in at least one of these subjects: insurance, property tax, HUD contract renewals/increases, AM design review, or databasing
Intermediate knowledge of MS Word and MS Excel.
Two years of experience in quantitative analysis.
Graduate degree or professional certificates may substitute for experience.

Nice To Haves

Graduate Degree and/or additional related professional experience
Intermediate knowledge of property management software or accounting software
Training or experience in Housing Development and/or Tax Credit programs
Professional certification related to housing development, property or asset management
Graduate Degree and/or additional related professional experience
Intermediate knowledge of property management software or accounting software
Training or experience in Housing Development and/or Tax Credit programs
Professional certification related to housing development, property or asset management

Responsibilities

Establish and monitor financial performance standards for a portfolio of approximately twenty (20) assets within TNDC’s portfolio.
Monitor and provide input on annual rent setting goals to meet property financial performance targets; monitor annual income certification process and participate, as-needed, in annual file audit strategy.
Contribute to property Watch listing work-out analysis, discussions, and identification of asset-specific solutions
Monitor the current and long-term financial status of TNDC projects by reviewing operating budget variance reports and by preparing long-term operating cash flow projections
Review and manage asset-level data integrity in Yardi (or equivalent), document management, and Microsoft BI dashboards; standardize chart of accounts mapping for analytics
Contribute to preparation of audited financial statements, i.e., related party fees, contingent liabilities, reserves, and surplus cash analysis and distribution
Assist Director of Asset Management and Accounting Team in audit tie-out procedures, and provide variance narratives to streamline annual audits and monitoring visits.
Review audited financial statement draft reports.
Propose solutions to structural deficits and propose disposition of annual surplus/deficits
Responsibility for at least one technical specialization for the portfolio, such as property tax, mortgage, HUD contracts, or insurance management.
Ensure portfolio meets owner physical quality standards
Approve specific capital improvement project proposals
Ensure that capital needs assessments are performed on all properties, either internally or from third-party consultants; utilize findings to inform asset management plans, capital improvements prioritization, and/or recapitalization strategies
For moderate rehabs, serve as owner’s rep in preconstruction, change order control, schedule/cost oversight, and relocation planning coordination (with PM and services)
Assist Facilities Team with establishing portfolio decarbonization and resilience targets (electrification, heat pump conversions, envelope upgrades) with facilities team, receive reports from facilities who track energy/water benchmarking, and help direct appropriate team to pursue incentives
Complete property site visits annually, to assess operations and physical conditions, with additional site visits as needed.
Write property-specific asset management plans through analysis which finds each properties problems, opportunities and actions
Contribute to portfolio long-range planning and lead execution of actions, such as re-finance, partner exits, increasing savings or finding new funding sources
Minimize financial risk by ensuring compliance with third party requirements OR Follow the annual compliance calendar (CTCAC/TCAC, CDLAC, HUD, HCD, MOHCD, SF DBI/SFFD where applicable) developed by Director and ensure timely filing—e.g., Annual Owner’s Certifications, monitoring submissions, rent/income limit updates, utility allowances, and affirmative marketing reporting
Track and fulfill city monitoring/reporting obligations specific to SF-funded assets, including compliance with recorded affordability covenants and services commitments
In collaboration with Compliance inspection schedule, monitor stakeholder inspections, findings, and close-outs
Maintain property asset management plans/deal books that include analysis of most restrictive requirements, services requirements, and other regulatory requirements that need to be tracked annually
Monitor resident services outcomes that tie to asset KPIs (e.g., tenancy stabilization, reduced arrears/evictions, etc.)
Provide timely information to and maintain excellent relationships with lenders, investors, and government agencies
Preparing contract analysis summaries for loan and equity agreements
Administer loan and equity agreements after initial and final loan closings
Advance Owner’s main objectives by commenting on Property Management policies plans and procedures
Work with TNDC development staff to create initial operating budgets and project designs that achieve Asset Management goals of long-term financial stability, cost efficiency and well-maintained physical plant
Participate in new project hand-off from development to asset management and operations, understanding the long-term performance objectives and recording regulatory requirements
Recommend for approval management plans which accomplish owner’s asset management goals
Assist Director or VP of Real Estate in preparation of quarterly and annual dashboards and memos for Board/Finance Committee and LPs—performance trends, compliance status, capex progress, risk alerts, and strategy updates
Manage welfare tax exemptions, appeals, and valuation negotiations (as needed).
Perform other related duties as required