Senior Asset Manager

King County Housing Authority (KCHA) is seeking a Senior Asset Manager to support the Asset Management department in Tukwila, WA. This role oversees a portfolio of tax credit and/or bond-financed affordable housing properties, ensuring financial performance, physical maintenance, and compliance with IRS, HUD, lender, and KCHA requirements.

Responsibilities

• Act as owner’s representative, monitoring third-party property management.
• Review financial statements, prepare reports and forecasts, and manage cash flow and debt service.
• Ensure regulatory compliance for tax credit and bond-financed properties.
• Oversee advanced financial monitoring and reporting division-wide; review financials; provide directions to staff; prepare and assist with preparation of journal entries; manage cash flow reporting and distribution.
• Perform strategic planning related to cash flow, property improvements, acquisitions, partnership transactions, and program initiatives for multi-family housing programs.
• Manage and direct program budgets; determine rent growth/increase policies based on market analysis; create budget guidelines for property-related costs; perform short-term and long-term planning.
• Oversee preparation of financial information; manage review and critique of partnership audits and tax returns to ensure accuracy and timely submission to investor partners and the IRS; recommend and complete adjusting journal entries.
• Review and provide comments for documents related to acquisition of new properties and/or development of existing properties under the LIHTC program; coordinate between asset management, development, construction, and property management staff for LIHTC certification and tenant relocation.
• Recruit, select, assign, direct, train, and inspect the work of divisional personnel; evaluate staff performance; develop staff schedules; recommend personnel actions.
• Provide oversight to property management companies to ensure financial performance, maintenance of safe and sanitary living conditions, and compliance with legal and regulatory requirements; inspect properties regularly; approve plans for property improvements; resolve escalated resident complaints.
• Direct and review preparation and submission of required compliance reporting to state and federal agencies.
• Ensure compliance with debt service coverage ratios for taxable and tax-exempt bond financing.
• Explore funding opportunities, rebates, or long-term cost savings; review physical versus fiscal position of properties; determine special capital projects for long-term savings using cost-benefit analysis.
• Ensure legal issues are addressed to mitigate adverse action; prepare for adverse weather conditions; address life-safety issues at properties; ensure property management companies adhere to hazardous materials plans/procedures.
• Complete, assign, monitor, and review special projects, reporting, and departmental capital projects; maintain and update the departmental operations manual.
• Develop, manage, and create monthly, quarterly, and annual reports for internal or external dissemination.

Requirements

• Bachelor’s degree in accounting, business administration, finance, or a closely related field.
• Extensive experience in a combination of accounting, business administration, compliance, finance, property management, real estate management, and/or real estate development.
• An equivalent combination of experience and education that provides the necessary knowledge, skills, and abilities to perform the essential functions of this position.

Skills

• Demonstrated knowledge of applicable local, federal, and state regulations, policies, and procedures, with the ability to interpret and apply them.
• Practical accounting experience and knowledge of GAAP with the ability to apply relevant skills.
• Experience supervising staff, including coaching and mentoring to support employee goals.
• Proven success in building productive and engaged work teams with a focus on mentoring and staff development.
• Strong verbal and written communication skills; ability to explain complex or technical information clearly.
• Values open-mindedness, inclusion, and diverse perspectives; fosters a respectful and cooperative work environment.
• Strong critical-thinking and analytical skills; ability to evaluate information and make timely, nuanced decisions.
• Ability to establish and nurture relationships with stakeholders; works cooperatively as part of a team.
• Effectively organizes multiple complex assignments and competing priorities to produce accurate and thorough work products on time.
• Adapts to changing business needs, conditions, and work responsibilities; responds positively to change.
• Proficiency with MS Office (Word, Excel, Outlook) and database software.

Special Requirements

• Obtain Fair Housing, Landlord Tenant Law, and Tax Credit Compliance training upon hire.
• Final candidates may be required to complete a driver’s and criminal background check in accordance with applicable law.
• Must be able to travel regularly between work sites; a valid driver’s license may be required for positions where driving is an essential job function.

Pay

The salary range for this position is $133,795.70 - $160,771.25 annually, depending on qualifications and professional experience. The complete salary range extends to $187,565.78 annually. Performance-based merit increases and cost-of-living adjustments (COLAs) are reviewed annually.

Benefits

• Comprehensive health care benefits for you and your dependents, including medical, dental, and vision insurance.
• Life and long-term disability insurance plans.
• Vacation, sick, and personal leave.
• Tuition reimbursement.
• Retirement benefits.

Schedule

After initial onboarding, this role will have the opportunity to work remotely up to 60% in accordance with KCHA's flexible work arrangements. The ability to report to the Central Office in Tukwila will be required. Remote work conditions will be reviewed regularly based on business and program needs.