Asset Manager

ASSET MANAGER

The Community Housing Improvement Program has an opening for an Asset Manager. The Asset Manager is responsible for monitoring the operational and financial performance of CHIP’s portfolio, benchmarking, investor and lender relationships, and acquisition, refinancing, and rehabilitation necessary to preserve CHIP’s portfolio. The Asset Manager works closely with the Chief Operating Officer/Chief Financial Officer and the Director of Property Management to identify and implement long-term strategies to improve property performance to meet organizational objectives.

 ABOUT THE OPPORTUNITY

The role of the Asset Manager is to work across multiple departments to ensure the health and growth of CHIP’s portfolio. This is an opportunity for a strategically minded, organized, results-driven, creative individual who is up for a challenge. It is a fast-paced ever-changing environment. Working remotely with visiting the corporate office several times a year is a possibility with this position.  CHIP has a solid 50-year history and the benefit of stable leadership at all levels of the organization. Many of CHIP’s 65 employees attribute their reason for staying to its overall great work environment and belief in its mission.

 ESSENTIAL JOB FUNCTIONS

Expertise in using proformas to evaluate options for refinancing, buy-outs, and syndication/re-syndication of existing owned properties that meet company financial objectives.

Closely monitor and consistently report on the operational and financial performance of the portfolio of properties relative to budgets as well as development proformas.

Responsible for monitoring the performance of the CHIP-owned properties.  Will review budgets, financials, and audits and seek improvements to be in line with projections and owner objectives.

Work closely with property management to ensure the financial performance of budgets meets organizational objectives.

Prepare financial evaluation and recommendation for any portfolio-wide initiatives including development proforma budgets, benchmarking, and utility analysis. 

Monitor all aspects of partnership performance of CHIP’s Tax Credit portfolio including but not limited to the status of proforma, equity accounts, future buyouts, debt refinancing, and capital planning. 

Research partnership agreements, financing documents, regulatory agreements, tax returns, and other sources to determine ownership objectives.

Provide constructive input to Property Management when adverse performance trends arise and actively participate in developing corrective management plans.

Work closely with direct supervisor on refinancing opportunities and partnership buyouts.

 ESSENTIAL JOB FUNCTIONS

Responsible to coordinate and implement all aspects of refinancing or partnership buyouts up to and including rehabilitation, refinancing, and re-syndication from funding through construction and final investor payment.

Prepare and submit financing packages to funding sources and represent the corporation before the agencies to secure approvals.

Respond to various requests for information from Regulatory Agencies, lenders, and investment partners.

Coordinate and monitor timely and accurate completion of Property Tax Welfare Exemptions

Coordinate transition from development to operations including document transition, creation of property binders, regulatory compliance, budgeting, LP payment, and 8609 processing.

Perform other duties as assigned.

 WORKING RELATIONSHIPS

Internal:    

The Asset Manager reports to the Chief Operating Officer/Chief Financial Officer. They work closely with all Property Management personnel (off-site as well as on-site) and all staff in the central office. 

 External:

The Asset Manager will routinely interact with outside vendors, Regulatory Agency personnel, lenders, and investors. 

 QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential function satisfactorily.  The requirements listed below are representative of the knowledge, skill, and /or ability required. 

Bachelor’s Degree or graduate degree in finance, business administration, accounting or related field, or related work experience preferred.   

Strong experience in affordable housing and/or multi-family residential real estate finance preferred.

Ability to prepare financial feasibility analyses, conduct research, and prepare narrative reports and proposals.

Experience developing and implementing long-term planning.

Capability to analyze complex problems.

Ability to work effectively with development professionals, public officials, and low-income tenants.

Experience with or strong interest in non-profit organizations.

Strong attention to detail.

Excellent written and oral communication skills.

Excellent time management skills and ability to set priorities.

Flexible, pragmatic, problem-solver.

Strong computer skills primarily in Excel, Word, and Access software (or comparable).

Experience with property management affordable housing software (MRI, Bostonpost or Yardi) preferred.

Abila MIP Fund Accounting software experience is a plus. 

For travel in the course of employment: One must have a reliable vehicle, a current valid Driver's license, and be insurable under the criteria established by CHIP’s general liability carrier.  Must provide current proof of insurance at the levels specified by the CHIP travel policy.

 PHYSICAL REQUIREMENTS

Reasonable accommodations as required by the Americans with Disabilities Act (ADA) will be made available, as necessary.

DEPARTMENT:         Asset Management

REPORTS TO:           Chief Operating Officer/Chief Financial Officer

TYPE OF POSITION: Full Time, Exempt 

Employment with CHIP is at will for the employee and the employer.

CHIP is an equal-opportunity employer.