Senior Asset Manager

Position Summary

The Senior Asset Manager 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.

Essential Duties And 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.
• A primary point of contact for lenders and investors; develops and maintains good working relationships with all contacts assigned to portfolio.
• Analyze monthly financial statements. Identify trends and recommend action where appropriate with the ultimate goal of increasing revenue in accordance to Eden’s policy, controlling operating expenses and ensuring projected surplus cash distributions are being met.
• Work with Property Management and to ensure that annual operating budgets and capital plans support property, portfolio and organizational objectives by maximizing revenue and controlling expenses to maintain operating margins, adequate reserves and to cover 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, but not limited to status of proforma, LIHTC capital accounts, future limited partner buy-outs, debt refinancing and capital planning.
• Facilitate portfolio analysis to recommend financial restructuring as appropriate, including new re-syndication opportunities, refinancing old debt, partnership buyouts and rehabilitation projects.
• Negotiates with partners when waterfall agreements need adjustment for long-term financial health.
• Facilitate efforts to reposition assets including limited partner buy outs, debt restructuring, renovation planning, refinancing and coordination with Development department on re-syndications.
• Lead oversight efforts and problem solving for ‘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 where applicable.
• 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 financials 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 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 reports for company-wide use as needed.
• Develop and maintain compliance and reporting system/tracker/database for the portfolio, including monthly and quarterly financial reports, annual audits, and annual budgets.
• Provides 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 standard.
• Create a positive work environment with a focus on cross-functional collaboration and teamwork.

Other duties as assigned.

Supervisory Responsibilities

Directly supervises 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.

Qualifications

• DEMOGRAPHIC AND/OR EXPERIENCE: 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.
• PREFERRED SKILLS AND/OR ABILITIES: 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.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to sit and use hands to finger, handle, or feel. The employee is occasionally required to reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision and ability to adjust focus. Physical demands include writing/typing, use of computer and paper files, answering phones, attending meetings.

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. The noise level in the work environment is usually moderate.