Asset Manager

SUMMARY STATEMENT

The role is responsible for comprehensive portfolio oversight and reporting, focusing on identifying communities for the Watch List. The position involves collaboration with IT, Accounting, and Operations to develop system tools for tracking portfolio performance.

Portfolio Oversight and Reporting

• Cash Flow and Fees

  • Drive initiatives to enhance cash generation from operations.
  • Understand Limited Partnership Agreements (LPA), waterfall structures, and General Partner responsibilities to ensure timely distributions to Limited and General Partners, including residual receipt lenders.

• Reporting Requirements

  • Collaborate with various departments to meet reporting obligations.

• Affordable Financing Programs

  • Ensure the portfolio adheres to regulatory requirements and remains compliant with applicable filings and physical compliance related to governing documents, including loans, partnership agreements, tax credit allocations, and affordability restrictions.
  • Relevant Programs: LIHTC, Historic Credits, HUD Programs, State and Local programs, HOME, TIF, REAC, RAD, Public Housing, Housing Choice Vouchers.

• Property Management Monitoring

  • Monitor and report on property management capacity and performance.
  • Organize and oversee data and workflow systems at the corporate office and sites to manage critical events, ensuring data integrity in the property database.

Financial Analysis

• Review financial statements at both a high-level and granular level to assess portfolio and community performance.
• Measure property performance against projections and annual budgets.
• Develop operating forecasts to identify operational challenges and opportunities for improvement.
• Review and approve annual property budgets.
• Analyze monthly and quarterly operating statements, tax returns, and audits for portfolio properties.
• Respond to inquiries from lenders, partners, and other approving agencies regarding property financials.
• Provide insights for internal, board, and external presentations concerning property and portfolio performance, including strategic long-term operations outlook.

Risk Management and Assessment

• Conduct comprehensive analyses of properties across various dimensions (proforma, physical condition, program compliance, market strength) to articulate project strengths, weaknesses, opportunities, and threats (SWOT) and report on the portfolio as necessary.

• Asset Management Plans

  • Identify watch list properties, create, and monitor action plans.
  • Understand and apply industry best practices.
  • Proactively mitigate liability risks by monitoring operational and financial matters, including legal issues, contracts, insurance, property tax issues/exemptions, utility consumption, and neighborhood concerns.

TYPICAL DUTIES AND RESPONSIBILITIES

Management reserves the right to modify, add, or remove duties from specific jobs and to assign other duties as necessary.

EDUCATION AND EXPERIENCE REQUIRED

• Bachelor’s Degree required.
• Minimum of ten years of experience in affordable housing asset management.
• Proven ability to lead a team and strong capability to work independently.
• Experience with Low Income Housing Tax Credits and HUD financing.
• Excellent proficiency in Excel.
• Familiarity with computerized accounting and property management systems.
• Exceptional interpersonal skills.
• Strong written and oral communication skills.

COMPENSATION:

Actual base salary is determined based on several factors, including but not limited to geography, job-related knowledge, experience, and budget considerations. The starting salary within the range is typically aligned with the minimum experience required for the role.

The role is considered exempt, so it is not eligible for overtime pay in accordance with federal and state law. The anticipated base pay range for the position is $120,000- $141,000 annually.

BENEFITS:

• Competitive pay
• Health, dental, and vision insurance
• Paid time off and holidays
• Retirement savings plan
• Opportunities for professional development

Why RHF?

At RHF, we believe in creating a caring and respectful environment for our residents and staff. As the Environmental Services Director, you will play a vital role in maintaining this standard, ensuring that our senior and low-income residents live in a safe, clean, and comfortable environment. We offer competitive compensation, comprehensive benefits, and opportunities for professional growth within a mission-driven organization.