Asset Manager

About the role

This position is housed within the Asset Management department, which monitors long-term physical, financial, operational, and administrative compliance for IHDA-assisted developments.

Responsibilities

• Implements proactive strategies to resolve properties’ operational condition compliance issues.
• Informally paired with a compliance group for each project inclusive of a Compliance Analyst, Physical Inspector, and Financial Analyst.
• Formally paired with a Compliance Analyst assigned to the same project portfolio to provide coordinated, comprehensive service.
• Collections and contributes data to determine annual operations rating.
• Conducts initial and ongoing on-site and desk monitoring reviews (including tenant file reviews) of assigned portfolio of projects based on prescribed timeframes (to assess and facilitate compliance with applicable Federal, State, local rules and standards).
• Affirmatively assesses the operational compliance (i.e. management, occupancy) against related regulatory requirements so that the related housing remains affordable, decent, safe, and sanitary.
• Prepares and maintains all operational compliance documentation (including compliance monitoring findings, responses, resolutions, reports) as required.
• Serves as primary point of contact and relationship manager between owners/agents and Asset Management department.
• Proactively communicates with the property owner, manager, agent regarding operational issues, compliance requirements, options and deadlines for resolution.
• Appropriately refers troubled properties to the Portfolio Risk Management group.
• Participates in pre-occupancy and post-closing discussions and meetings as appropriate.
• Participates in regular loan monitoring, watchlist, delinquency meetings as appropriate.
• Intakes, responds to, and resolves tenant inquiries or complaints in coordination with owner/agent.
• Intakes, responds to, and resolves owner/agent inquiries or complaints.
• Performs other duties and handles other special projects/initiatives as assigned.

Requirements

• Education: Bachelor’s degree required. Experience may be substituted for education at the discretion of the Asset Management department.
• Experience: At least 2 years’ experience conducting asset management/operational compliance administration for Federally-financed affordable multifamily rental housing developments required.
• Thorough knowledge of the following funding sources/programs desired: LIHTC, HOME, Section 8, Risk Share, Tax Exempt Bonds, and Illinois Affordable Housing Trust Fund.
• Proficiency in Microsoft Office Suite required.
• Training: Certified Occupancy Specialist (COS), Tax Credit Specialist (TCS), Blended Occupancy Specialist (BOS), HOME Compliance Specialist (HCS), training required (completed within one year or earliest available date, whichever is later).
• Certifications: Certified Occupancy Specialist (COS), Tax Credit Specialist (TCS), Blended Occupancy Specialist (BOS), HOME Compliance Specialist (HCS), Housing Credit Certified Professional (HCCP) preferred.
• Valid Driver’s License: Required.
• Access to Personal Vehicle: Required along with appropriate insurance.
• Frequency of Travel: Frequent – 50-75% annually.
• Physical Requirements: Alternating between sitting, standing, and walking. Ascending and descending stairs. Crouching and stooping. Pushing and pulling. Repetitive task movements (filing, keyboarding, copying). Lifting, carrying, and moving objects of up to 10 -15 pounds.

Qualifications

• Must be a resident of Illinois or willing to relocate.
• Flexible scheduling is available, upon completion of a six-month probationary period.

Skills

• Strong organizational and problem-solving skills.
• Excellent communication and interpersonal skills.
• Ability to manage multiple tasks and priorities simultaneously.
• Proficiency in Microsoft Office Suite.
• Knowledge of federal, state, and local regulations related to affordable housing.

Benefits

• Paid time off, plus paid holidays.
• Medical/dental/vision/life insurance plans.
• Short/long term disability.
• Tuition reimbursement.
• Flex spending 401K plan – immediate vesting.

Pay

$69,488 - $86,860

Schedule

Hybrid work arrangement, but candidates must reside in Illinois at time of hire.