Asset Manager - Affordable Housing

Job Description

Job Description

Volunteers of America National Services (VOANS) is seeking an Asset Manager to represent owner and sponsor interests across our housing portfolio. This role plays a critical part in ensuring our properties operate at optimal performance while remaining fully compliant with financial, regulatory, and reporting requirements.

Asset Manager - Remote  - in the local area of DMV hybrid (3 days in 2 remote)

Schedule: M-F 8:00 AM-5:00 PM 

Salary: $84,000-$92,000 (Based on years of experience)

The Asset Manager represents the owner/sponsor interests in all housing properties sponsored/cosponsored by Volunteers of America National Services. The objective of this position is to ensure that housing properties owned by Volunteers of America National Services are performing at optimal level (including financial, physical plant and operating systems) and in compliance with financial covenants, regulatory requirements and other reporting and filing requirements as imposed from time to time.

Benefit Highlights:

• 403(b) Retirement Plan
• Career scholarships;
• Continuing career education and leadership programs;
• Medical, Dental and Vision Insurance
• Paid Time Off (Vacation, Holiday & Sick Days)
• NetSpend – Get paid early: Tap into 50% of your earnings before payday

Essentials:

Reporting

• Gather, evaluate, interpret and report on the operational performance and condition of assigned real estate assets. Provide analysis, conclusions and recommendations regarding specific properties assigned as well as entire real estate portfolio.
• Assure timely submission of monthly/quarterly financial reports from management and accounting entities. Review reports and assess actual performance to approved budget and original underwriting assumptions.
• Obtain further information and clarification, as needed from management entities.
• Coordinate timely submission of annual operating and capital budgets from properties assigned; review for completeness, accuracy and conformance to performance goals, assuring that adequate funding sources have been identified to accomplish any capital needs to be undertaken.
• Assure timely submission of audited financial statements. Review and analyze statements; report on any findings or performance issues that require action; conduct follow-up as necessary with auditor or entity and track resolution of issues. Track and compare data from year to year, identifying trends or issues that require action.
• Order market studies, capital needs assessments, engineering studies, or other professional reports as required for assigned portfolio; develop implementation plans for any subsequent actions indicated by such professional studies.
• Track compliance with all loan and program regulatory requirements; institute remedial actions as required to correct non-compliance.
• Track adequacy of required reserves and escrow accounts.
• Develop and submit investor reports as required.
• Ensure tax filings and exemption requests are made on a timely basis.
• Present financial reports, analyses, forecasts, and recommendations for action as required to senior staff or affiliate offices. Make presentations to pubic as requested.
• Provide input, analysis and recommendations on proposed projects to Real Estate Development, and assist in transition process from construction to operations.
• Present financial reports, analyses, forecasts, and recommendations for action to the senior housing, Volunteers of America National Services local offices.

Maintaining Assets

• Conduct on-site inspections of assets to evaluate physical condition, effectiveness of management operations, regulatory compliance, external effects on property and market position. Report on findings and conclusions; direct corrective measures to be accomplished and recommend changes or improvements needed.
• Identify assets that require intervention, changes in management, workouts, refinancing or disposition and develop plans to carry out such actions.
• Maintain the system to track financial and operational performance of each asset, working with accounting and management to create key indicators.
• Maintain the system for tracking and reviewing annual audited statements to ensure tracking and mitigation of audit findings and adjustments.
• Maintain a system that captures and tracks significant debt/investor equity terms, covenants and compliance with same, and ensures that reporting to lenders/investors occurs in compliance with their requirements
• Ensure that the asset management system captures relevant tax information for each corporation and that filings/exemptions are made on a timely basis.
• Ensure that the system includes current information relating to corporate boards and officers.

Liaison/Support

• Provide staff support to Committees and Boards, as directed.
• Provide assistance or guidance to Administrative support staff and local affiliate offices, as needed.
• Perform due diligence for properties to be acquired (whether rehab or new construction) to ensure a high likelihood of success.
• Interface with Lenders and Regulators as directed.

Qualifications:

• A minimum Bachelor’s degree from an accredited institution is preferred. Acceptable majors include Business, Architecture, Engineering or Finance.
• A graduate degree in Planning, Real Estate Development, Finance, or Business is also desired.
• A minimum of two (2) years experience in Real Estate Finance, Property Management, Real Estate Development, or Construction Management.
• Experience skilled property management, financial analysis, insurance/risk management, accounting, valuation of income-producing real estate, capital markets, tax management, customer/client/regulator relations, code and law.
• Specific knowledge of HUD housing programs, tax credit programs and tax exempt bonds.
• Interpersonal skills necessary to effectively delegate, manage and motivate other employees and outside
  contacts in relation with housing development.
• Ability to travel occasionally 

At VOANS, we celebrate sharing, encouraging and embracing diversity. Equal employment opportunities are available to all without regard to race, color, religion, sex, pregnancy, national origin, age, physical and mental disability, marital status, parental status, sexual orientation, gender identity, gender expression, genetic information, military and veteran status, and any other characteristic protected by applicable law. We believe that blending individual strengths and unique personal differences nurtures and supports our organizations’ shared commitment to our mission and creates an inclusive and diverse environment where everyone feels valued and has the opportunity to do their personal best 

Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.