Senior Asset Manager

Position Summary The Senior Asset Manager provides owner-level oversight of CHAI’s affordable housing portfolio, analyzing financial, operational, compliance, capital, and physical performance; overseeing third-party property management; and identifying risks, opportunities, and strategies to support long-term portfolio sustainability and preservation. The position serves as CHAI’s day-to-day owner representative and collaborates with Housing Development, Finance, and Resident Services. Essential Responsibilities Portfolio Performance, Financial Analysis & Property Management Oversight Analyze monthly financial statements, occupancy, delinquency, budget variances, compliance, and other key performance indicators; identify trends, exceptions, and emerging risks. Monitor and evaluate third-party property management performance against CHAI ownership standards, approved budgets, management agreements, and performance expectations. Lead regular asset management meetings with third-party property management companies, establish performance expectations, and monitor follow-through on identified issues. Develop and maintain dashboards, watchlists, and performance tracking tools. Identify underperforming properties and material performance issues; recommend corrective actions and monitor resolution. Review annual operating and capital budgets and evaluate property and portfolio performance against approved budgets and owner goals. Conduct periodic property inspections and site visits and monitor physical condition standards and management plan implementation. Coordinate with Resident Services and property management regarding operational or property issues affecting resident experience and CHAI’s mission objectives. Strategic Planning, Capital Planning & Portfolio Preservation Develop and maintain asset management plans for each property. Monitor reserves, capital needs, debt obligations, and long-term replacement requirements. Review capital needs assessments, reserve studies, and other physical asset planning tools. Develop data-driven recommendations for recapitalization, refinancing, preservation strategies, and asset repositioning. Monitor debt maturities, regulatory milestones, subsidy contract renewals, and other critical events. Support portfolio cash flow forecasting, capital planning, and long-range portfolio planning. Compliance, Risk Management & Reporting Oversee the maintenance of deal books, compliance calendars, ownership entity records, required filings, and critical portfolio documentation. Monitor compliance with regulatory agreements, loan documents, partnership agreements, management agreements, HAP contracts, LIHTC requirements, and lender/investor obligations. Oversee required owner, lender, investor, regulatory, and stakeholder reporting and coordinate responsibilities with property management, Finance, and other partners. Track audit, management review, REAC/NSPIRE, compliance, and other findings; identify recurring issues and ensure corrective actions are implemented and closed. Monitor property insurance coverage and requirements, identify potential gaps or issues, and escalate significant insurance or legal matters to the Vice President. Identify and escalate significant financial, operational, compliance, physical, and ownership risks. Development, Preservation & Operational Transition Support Serve as Asset Management’s representative in development, acquisition, refinancing, recapitalization, rehabilitation, and preservation activities and transactions. Provide an ownership and operations perspective on proposed scopes of work, operating and reserve assumptions, and management plans throughout the development and redevelopment process. Support transitions from development or rehabilitation to property operations. Participate in lease-up, stabilization, post-construction reviews, and other transition activities. Identify operational risks and lessons learned to inform future development and preservation activities. Qualifications Bachelor's degree in Finance, Accounting, Real Estate, Business Administration, or related field Minimum five years of progressively responsible experience in affordable housing asset management, housing finance, multifamily real estate or real estate development Demonstrated experience with HUD, LIHTC, PRAC, HOME, or other affordable housing programs and regulatory requirements Strong financial analysis skills, including property financial statements, operating budgets, variance analysis, cash flow, and capital planning Advanced Excel proficiency Experience working with third-party property management companies, lenders, investors, auditors, regulatory agencies, and other affordable housing stakeholders Experience with affordable housing refinancing, recapitalization, rehabilitation, or preservation transactions preferred Core Competencies Financial and analytical acumen Strategic thinking and sound judgment Portfolio and risk management Accountability and follow-through Organization and prioritization Problem solving and decision-making Written and verbal communication Relationship management and cross-functional collaboration