Asset Manager

Asset Manager

Under the general direction of the Director of Asset Management, this position performs a wide variety of tasks related to the planning, development, and preservation of affordable housing with a specialization in housing for special needs populations such as homeless, at risk of homelessness and elderly.

The Asset Manager will be responsible for conducting the analysis, recommendation, partnership activities, and implementation strategy of a portfolio of developments owned or operated by Housing Authority of the City of Los Angeles (HACLA) or affiliated partnerships, and organizations. The incumbent will be responsible for the financial viability of a significant and growing housing portfolio, including oversight of third-party management, services, government and institutional partnerships, capital investments, market research and analysis, and buy/sells/hold strategies.

Provides pre-acquisition input and assistance in due diligence process, including review of financial and operational assumptions, and supporting the effort originating and negotiation of debt financing.

Models full life cycle financial analysis for each asset from acquisition through development and long-term operation.

Develops all associated policies and documents including leasing and management plans, tenant leases, operation and safety manuals.

Ensure all properties meet HACLA-imposed, local, state and/or federal building and operation requirements or best practices.

Assists in negotiations of contracts with all third parties including but not limited to service providers and property management agents; and oversees all details of property readiness and lease up.

Assesses, approves and oversees implementation of capital investments on an annualized basis and is responsible for property cashflow and stabilization. Lead staff of maintenance, clerical, custodial, paraprofessional and professional personnel with encouragement and innovation; creating a team-based cooperative approach.

Meets regularly with management, service staff and tenants to ensure properties are functioning well and makes recommendations for any changes in policy or procedure to adapt the building to current and future needs.

Develops approach to all asset management activities to ensure that HACLA is creating communities of care that value and respect the diversity of resident needs, ensure a safe environment for all tenants, and develop a sense of home.

Responds effectively to management issues or emergencies.

Ensures clear lines of communication are established between HACLA and its third parties as well as amongst and between all third-party contractors working within any one development or project.

Monitors project finances for conformity to budget, negotiates financial restructuring and/or amends regulatory agreements as necessary to stabilize and/or expand operations.

Develops and updates records of outstanding indebtedness of partnerships; administers partnership funds, including collection of capital contributions, banking, and disbursements of funds.

Assist Finance in the preparation of tax returns, quarterly and annual financial statements; manage cash flow, distribution analysis and investment projects.

Works closely with in-house accounting personnel to manage asset performance for a multi-family housing portfolio; monitors operating results and forecasts financial activity.

Lead and participate in internal and external team meetings; prepare reports and presentations to executives, external partners, and the public; participate in trainings and conferences and regional meetings to ensure HACLA is aligned with regional systems serving homeless, at risk of homelessness, seniors and other special need populations.

Negotiates third party services and management contracts.

Implement or evaluate Property Management plans; assist in the preparation and monitoring Asset Management Annual Budget.

Performs other tasks as may be assigned.

Knowledge of: Principles and practices of organization, administration, budgeting and financial management. Principles and practices of property maintenance and operations. Principles and practices of supervision and training. Principles and practices of real property asset management. Principles and practices of health and human services with an emphasis on housing-based programs. Research methods, statistical analysis and techniques and methods of report preparation and presentation. Principles of budgeting, accounting and finance methods. Applicable Federal, State, and local laws and regulations.

Ability to: Effectively use technology and software to track data, budgets, tenant information, create reports and presentations. Develop long-range plans consistent with established goals, objectives and available resources. Assess and resolve problems effectively and efficiently. Manage and generate resources. Manage personnel, multiple projects and operations simultaneously; effectively prioritize work and ensure timely completion of projects. Perform a broad range of supervisory responsibilities. Adapt to changes in budget and priorities. Use multiple resources, quantitative, and qualitative research methodologies to capture and interpret information. Properly interpret and make decisions or recommendations in accordance with laws, codes, regulations and policies. Present ideas effectively, orally and in writing. Work constructively and maintain effective relationships with a wide range of people and position levels in a manner that reflects well upon HACLA and accomplishes work in an effective and efficient manner.

Bachelor's degree from an accredited college or university in Finance, Public or Business Administration, or a closely related field, AND a minimum of five (5) years progressively responsible experience in residential property management and multi-family housing portfolio management with a minimum of three (3) years of supervisory experience in the fields of Asset or Property Management. CPM (Certified Property Management) certification preferred.

Possession of, or ability to obtain, an appropriate, valid California driver's license. Employees must maintain a driving record, which meets the insurability requirement of the Housing Authority's carrier.