Asset Manager

Essentials

• Reporting
• Gather, evaluate, interpret and report on the operational performance and condition of assigned real estate assets.
• Provide analysis, conclusions and recommendations regarding specific properties assigned as well as entire real estate portfolio.
• Assure timely submission of monthly/quarterly financial reports from management and accounting entities.
• Review reports and assess actual performance to approved budget and original underwriting assumptions.
• Obtain further information and clarification, as needed from management entities.
• Coordinate timely submission of annual operating and capital budgets from properties assigned; review for completeness, accuracy and conformance to performance goals, assuring that adequate funding sources have been identified to accomplish any capital needs to be undertaken.
• Assure timely submission of audited financial statements. Review and analyze statements; report on any findings or performance issues that require action; conduct follow-up as necessary with auditor or entity and track resolution of issues.
• Track and compare data from year to year, identifying trends or issues that require action.
• Order market studies, capital needs assessments, engineering studies, or other professional reports as required for assigned portfolio; develop implementation plans for any subsequent actions indicated by such professional studies.
• Track compliance with all loan and program regulatory requirements; institute remedial actions as required to correct non-compliance.
• Track adequacy of required reserves and escrow accounts.
• Develop and submit investor reports as required.
• Ensure tax filings and exemption requests are made on a timely basis.
• Present financial reports, analyses, forecasts, and recommendations for action as required to senior staff or affiliate offices.
• Make presentations to pubic as requested.
• Provide input, analysis and recommendations on proposed projects to Real Estate Development, and assist in transition process from construction to operations.
• Present financial reports, analyses, forecasts, and recommendations for action to the senior housing, Volunteers of America National Services local offices.
• Maintaining Assets
• Conduct on-site inspections of assets to evaluate physical condition, effectiveness of management operations, regulatory compliance, external effects on property and market position.
• Report on findings and conclusions; direct corrective measures to be accomplished and recommend changes or improvements needed.
• Identify assets that require intervention, changes in management, workouts, refinancing or disposition and develop plans to carry out such actions.
• Maintain the system to track financial and operational performance of each asset, working with accounting and management to create key indicators.
• Maintain the system for tracking and reviewing annual audited statements to ensure tracking and mitigation of audit findings and adjustments.
• Maintain a system that captures and tracks significant debt/investor equity terms, covenants and compliance with same, and ensures that reporting to lenders/investors occurs in compliance with their requirements.
• Ensure that the asset management system captures relevant tax information for each corporation and that filings/exemptions are made on a timely basis.
• Ensure that the system includes current information relating to corporate boards and officers.
• Liaison/Support
• Provide staff support to Committees and Boards, as directed.
• Provide assistance or guidance to Administrative support staff and local affiliate offices, as needed.
• Perform due diligence for properties to be acquired (whether rehab or new construction) to ensure a high likelihood of success.
• Interface with Lenders and Regulators as directed.

Qualifications

• A minimum Bachelor’s degree from an accredited institution is preferred. Acceptable majors include Business, Architecture, Engineering or Finance.
• A graduate degree in Planning, Real Estate Development, Finance, or Business is also desired.
• A minimum of two (2) years experience in Real Estate Finance, Property Management, Real Estate Development, or Construction Management.
• Experience skilled property management, financial analysis, insurance/risk management, accounting, valuation of income-producing real estate, capital markets, tax management, customer/client/regulator relations, code and law.
• Specific knowledge of HUD housing programs, tax credit programs and tax exempt bonds.
• Interpersonal skills necessary to effectively delegate, manage and motivate other employees and outside contacts in relation with housing development.
• Ability to travel occasionally.