Asset Manager

• Develop and implement tasks to manage assigned Affordable Housing and Commercial Portfolios (“Assigned Portfolio”): 
• Maximize cash flows for distributions, coordinate with Facilities and Development Teams communities for recapitalization, and develop disposition strategies with Director of Asset Management;   
• Proposes solutions with Operations Team to operating deficit cash-flows, underperforming communities, and long-term capital needs; 
• Review audited financial statements and tax returns and uses these to complete waterfall analysis and track balances in Partners tax capital accounts for potential exit taxes; 

• Work with Operations Team to create accurate Proforma financials and long-term financial plans for Portfolio communities; 
• Analyze budgets against projections, benchmarks and goals to ensure properties are meeting affordability, operating expense per unit, reserve funding, and cash distribution goals as required under all agreements or regulations;  
• Closely monitor and consistently report on the operational and financial performance of the portfolio of properties to Internal and External Partners; 

• Be responsible for timely submittal and excellence of data for reporting packages/certifications for all lenders, investors and agencies in your portfolio; 

• Review Regulatory Agreements, Loan Documents and Limited Partnership Agreements to create an Asset Business Plan summarizing property description, guarantees, compliance and financial reporting requirements, compliance related restrictions and cash flow distributions; 

• Conduct scheduled site visits in person and meet with investors and lenders on site to review issues for your Assigned Portfolio; 
• Act as primary contact for lenders, investors, municipalities and other regulatory agencies for reporting, including compliance, budget and replacement reserve withdrawals for EBALDC, as applicable;  
• Coordinate with Internal Partners to outline key tasks and deadlines for reporting and other requirements that require input and lead-times; 
• Meet regularly over phone and in-person at appropriate industry event to build relationships with government regulatory groups and private investors; 

• Coordinate approvals for any new Contractors and vendors contracts with the Director of Asset Management; 

• Review existing Resident Services contracts and monitor compliance with agreements; 
• Review opportunities to make onsite improvements with the Residents Services and Operations Teams to support EBALDC’s residents; 

• Review reasonable accommodation requests with the Compliance and Operations Teams; 
• Coordinate and monitor timely and accurate completion of Property Tax Welfare Exemptions; 

• Prepare funding applications for local government entity rehab loans with the Development Team as needed  

• Coordinate with the Development Team on transition of assets from Development to Asset Management teams after lease-up process is complete including meeting key deadlines, the transition of records, pending applications, and smooth transition of reporting and filing requirements during and after construction lease-up; 

• Coordinate with Facilities Team to plan and develop capital improvement plans that plan around available Replacement Reserves and future need for additional capital fundings; 
• Ensure Replacement and Operating Reserve accounts are funded at required levels based on operational needs and third-party requirements.  
• Prepares and tracks all Reserve and Residual Receipt draw requests and requests for increases to Reserve and Residual Receipt deposits with the Operations and Accounting Teams for capital improvements and operations; 
• Participate in Development Team design review meetings for Assigned Portfolio to share feedback on key design elements that affects Reserve and long-term capital replacements with the Facilities Team, as needed; 

• Review with Commercial Operations Team current insurance requirements, monitor Reserve Deposits for accuracy for the Assigned Portfolio; 
• Review Commercial Operating Budgets for any requirements for increase to Reserves for operations maintenance and capital needs for commercial spaces; 
• Recommend tactical steps to preserve the Commercial Portfolio and support commercial space leasing to local businesses, entrepreneurs, and services that support EBALDC’s residents, when possible; 

• Assist Director of Asset Management in limited partner buy-outs, debt refinancing, re-syndications, and capital planning for the Assigned Portfolio; 

• Recommend new operating policies and procedures to the Operations and Asset Management Teams to improve task effectiveness in meeting competing deadlines; 
• Attend training and education classes to maintain current knowledge on Asset Management best practices and other reporting tools, as needed; 
• Perform other assignments and duties as assigned. 

• Bachelor’s degree and relevant work experience in a related field. 
• Minimum of two to three years of work experience in affordable housing and/or multi-family residential real estate finance, accounting, where detail oriented tasks are critical; 
• Be familiar with partnership agreements, joint venture documents, financing documents, regulatory agreements, tax returns and other property documents in tracking reporting deadlines and other requirements; 
• Ability to prepare high level written summaries and recommendations, perform financial feasibility analyses, and be able to operate with limited oversight in a remote working environment; 
• Competency in Yardi (or similar accounting systems), familiarity with word processing and spreadsheet formulas a must, ability to collaborate quickly using online tools such as Sharepoint and Team preferred; 
• Capability to analyze complex problems and communicate clear recommendations from Board, Executive, Manager, and Site level Operations Teams;  
• Ability to work effectively with development professionals, public officials, and low- income residents in a high pressure and collaborative work environment; 
• Experience with or strong interest in mission driven non-profit organizations. 
• Strong attention to detail; 
• Effective written and oral communication skills with all levels; 
• Effective and independent time management skills and ability to set priorities; 
• Flexible, empathic, and deadline driven; 

Salary : $90,000