Senior Asset Manager

Eden Housing•Hayward, CA

9d•$119,356 - $139,249•Onsite

About The Position

The Senior Asset Manager is responsible for monitoring the operational and financial performance of Eden’s portfolio, benchmarking, investor and lender relationships, and acquisition, refinancing, and rehabilitation necessary to preserve Eden’s portfolio. The Senior Asset Manager works closely with the Director of Asset Management to identify and implement long-term strategies to improve property performance to meet organizational objectives. The Senior Asset Manager will routinely project manage to lead cross-functional teams focused on the financial health of Eden’s portfolio while working closely with various departments including, but not limited to, Property Management, Facilities, Accounting, Compliance, and Development. This position will routinely interact with outside vendors, Regulatory Agency personnel, lenders, and investors. This position reports directly to the Senior Director of Asset Management.

Requirements

Demonstrated knowledge and experience in Asset Management.
Experience with Low Income Housing Tax Credits (LIHTC), Tax-Exempt Bonds, Department of Housing and Community Development (HCD), California Housing Finance Agency (CalHFA), Department of Housing and Urban Development (HUD) preferred.
Proven ability to direct departmental activities; lead by example; formulate and execute company-wide goals and objectives and assess achievement.
Strong supervisory, personnel management, organizational, analytical and problem-solving skills.
Working knowledge of affordable housing programs, including but not limited to HUD programs, LIHTC, Tax-Exempt Bonds, HCD Programs, CalHFA, and locally administered programs including HOME and CDBG.
Experience in developing asset management business plans.
Ability to project manage building capital planning and implementation of renovation plans.
Knowledge of regulatory agreements and ability to interpret same.
Knowledge of landlord-tenant and fair housing laws and procedures.
Knowledge of basic employment laws as they relate to equal opportunity, hiring, training, promotion, evaluation and termination.
Ability to delegate and communicate property management policies and procedures.
Computer literate.
Proficient in Word and Excel.
Experience with property management software (preferably Yardi) and Asset Management software (preferably Investment Central).
Excellent written and oral communication skills, problem solving, interpersonal and time management skills.
Ability to represent the company to public officials and community groups.
Ability to work under pressure and successfully meet deadlines.
Must be able and willing to travel to all company locations to carry out duties and responsibilities associated with the management of the portfolio.
Ability to handle shifting and multiple priorities in a fast-paced, growth environment.
Commitment to the companies' goals and philosophy.
Proven ability to work with diverse groups in cooperative problem-solving and consensus building.
A passion for housing justice and equity is highly desirable.

Nice To Haves

Experience with Low Income Housing Tax Credits (LIHTC), Tax-Exempt Bonds, Department of Housing and Community Development (HCD), California Housing Finance Agency (CalHFA), Department of Housing and Urban Development (HUD) preferred.
Experience with property management software (preferably Yardi) and Asset Management software (preferably Investment Central).
A passion for housing justice and equity is highly desirable.

Responsibilities

Closely monitor and routinely report on operational and financial performance of the portfolio of properties relative to budgets as well as development proformas, investor and lender expectations.
Serve as a primary point of contact for lenders and investors; develop and maintain good working relationships with all contacts assigned to the portfolio.
Analyze monthly financial statements, identify trends, and recommend actions to increase revenue, control operating expenses, and ensure projected surplus cash distributions are met.
Work with Property Management to ensure annual operating budgets and capital plans support property, portfolio, and organizational objectives by maximizing revenue, controlling expenses, maintaining operating margins, adequate reserves, and covering debt service.
Research partnership agreements, financing documents, regulatory agreements, tax returns, and other sources to determine ownership objectives.
Monitor all aspects of Eden’s portfolio performance, including the status of proforma, LIHTC capital accounts, future limited partner buy-outs, debt refinancing, and capital planning.
Facilitate portfolio analysis to recommend financial restructuring, including new re-syndication opportunities, refinancing old debt, partnership buyouts, and rehabilitation projects.
Negotiate with partners when waterfall agreements need adjustment for long-term financial health.
Facilitate efforts to reposition assets, including limited partner buyouts, debt restructuring, renovation planning, refinancing, and coordination with the Development department on re-syndications.
Lead oversight efforts and problem-solving for the 'Watchlist' of troubled properties.
Oversee third-party property management, as assigned, and monitor the performance of the properties they manage.
Review budgets, financials, and audits, and lead efforts to address operating inefficiencies.
Develop and monitor tracking tools for annual LIHTC capital accounts analysis and exit tax projections.
Facilitate preparations of exit strategies and negotiations for LIHTC properties.
Work with Development and Property Management to create accurate proformas and long-term financial plans for new properties.
Design, implement, and lead the interdepartmental property acquisition coordination process, including developing appropriate toolkits, checklists, process and procedure descriptions, and other duties as assigned to ensure effective and timely implementation of property-level business plans for newly acquired properties.
Lead performance analysis of all acquisition properties.
Draft and maintain reports to share and present key metrics with the Eden Board of Directors.
Facilitate creating material and presenting information and funding requests to Board Committees as assigned.
Lead the development and management of various portfolio-wide initiatives, including portfolio benchmarking, performance reports, and expense analysis.
Lead implementation and maintenance of the asset management database, Investment Central.
Ensure proper design and roll out of reports for company-wide use as needed.
Develop and maintain a compliance and reporting system/tracker/database for the portfolio, including monthly and quarterly financial reports, annual audits, and annual budgets.
Provide support and training to other team members in Asset Management, assisting with ongoing professional development of staff, including direct mentorship and supervision with a specific focus on the development necessary to advance in Asset Management.
Conduct routine site visits and document property condition against Eden standards.
Search for funding opportunities for new subsidy contracts and other financial sources for major capital improvement projects.
Create a positive work environment with a focus on cross-functional collaboration and teamwork.
Other duties as assigned.
Actively participate in our culture of inclusivity.
Directly supervise two or more administrative support employees, analysts, Asset Managers, and others as assigned, in accordance with the organization’s policies and applicable laws. Responsibilities include interviewing and training employees; planning, assigning, and directing work and ensuring completion, appraising performance, rewarding and disciplining employees, and addressing complaints and resolving problems.