Senior Asset Manager

COMMUNITY CORPORATION OF SANTA MONI•Santa Monica, CA

8d•$94,421 - $125,895

About The Position

Community Corporation of Santa Monica Sr. Asset Manager About Community Corporation of Santa Monica Community Corp is a non-profit organization that restores, builds, and manages affordable housing for working families of modest means. Since our inception in 1982, we have rehabilitated and constructed nearly 2,071 homes. By enhancing and increasing affordable housing, we improve neighborhoods, create an environment where people can thrive, and change thousands of lives. Our work contributes to the distinct character of Santa Monica and the greater Westside region, making these communities more inclusive, caring, and environmentally sustainable. Position Overview The Senior Asset Manager is responsible for Community Corp’s property portfolio. The objective of this role is to optimize the performance of the portfolio by thinking mid-term to long-term while accomplishing short term projects. This position is required to provide high level financial, physical, regulatory and administrative services for Community Corp’s multifamily affordable rental communities, while functioning independently, and reporting clearly, with recommendations to the Chief Financial Officer and/or Executive Director. The Senior Asset Manager manages one direct report employee, collaborates with the Property Management, Maintenance and Residential Services department staff and may interact with vendors. - Seeking a Sr. Asset Manager to join our team as we transition to a data-driven environment. Strong analytical skills and a background in data analysis or advanced analytics are highly preferred.

Requirements

Bachelor’s degree in business, finance, accounting, real estate or the equivalent training and experience
Minimum of 5 years of experience in asset managing affordable housing programs.
Knowledge of affordable housing, Low Income Housing Tax Credits, Tax Exempt Bond Programs and HUD Affordable Housing Program requirements
Knowledge of building codes and maintenance and housing quality standards
Understanding of federal, state, municipal code, regulations; contract law; and real estate law
Must possess strong research, project management, organizational, analytical, and math/quantitative skills
Excellent communication skills: both verbal and written and small group presentation
Ability to work collaboratively and foster team spirit
Strong financial and analytical skills
Computer proficiency in financial, property and communication programs (Excel and Word required; Yardi preferred)
Must possess and maintain a valid California driver’s license, insurance as required by law and an acceptable driving record.

Nice To Haves

Preference for experience with Low Income Housing Tax Credit (LIHTC) Housing, and/or Section 8 Project Based Housing Programs
Certified Occupancy Specialist Certification a plus
Strong analytical skills and a background in data analysis or advanced analytics are highly preferred.

Responsibilities

Review budgets, financials, tax returns and audits for each property; ensure surplus distributions are made correctly and promptly
Evaluate and monitor financial performance of buildings by reviewing quarterly financials
Maximize revenues and control expenses; discuss any identified issues and problems with the CFO and other departments and cooperatively develop strategies and actions to correct identified issues and problems
Review property watchlist regularly and provide strategic planning guidance for underperforming or at-risk properties so they are ultimately successful and removed from watchlist and risk to organization is minimized
Advance portfolio-wide initiatives (in collaboration with other departments) such as sustainability, ADA, emergency preparedness, etc.
Create and maintain a portfolio dashboard to measure and report the status of performance through a range of key indicators; report portfolio performance to the Executive Director, Board and financial partners.
Collaborate with property management to ensure compliance with regulatory agreements and funding requirements
Keep informed of trends within industry
Review commercial tenant leases annually and compare to market; evaluate rent structures
With property management, conduct regular site inspections to understand the physical condition as well as the asset’s position in the market, ensuring proper administration, marketing, curb appeal and maintenance are being upheld
Replacement reserve withdrawal approvals; monitor Replacement reserves adequacy
Prep for and attend third-party inspections
Respond to and maintain relationships with lenders/investors on asset management side
Manage low income housing tax credits (LIHTC) capital accounts through annual analysis and exit tax projection
Monitor property taxes and oversee tax appeals where applicable
Collaborate with and advise Housing Development on underwriting, staffing and design aspects of new/upcoming projects
Assist other departments as needed with relationship management of residential and commercial tenants.
Other Duties as assigned