Senior Asset Manager

TITLE: Senior Asset ManagerREPORTS TO: Director of Asset ManagementDEPARTMENT: Asset ManagementSTATUS: Regular, Full-TimeFSLA: ExemptWAGE RANGE: $115,415 - $125,559/yearGRANT FUNDED: NoUNION POSITION: NoLOCATION: 145 Taylor St, San Francisco, CA 94102SCHEDULE: Monday - Friday; 9:00 am - 5:30 pm; Hybrid; 3 days onsite, 2 days remoteSUMMARYUnder the general direction of the Director of Asset Management, the Senior Asset Manager is responsible for ensuring that a sub-portfolio of TNDC properties achieves the financial, physical, and social goals and standards of the owner, TNDC, and its funders. Of particular importance is planning property and portfolio re-capitalization and execution of partner exits. Overall, there is exposure to many issues with many opportunities for creative problem solving. This is a very good opportunity for professional development in real estate.ESSENTIAL DUTIESFinancial Well-BeingEstablish and monitor financial performance standards for a portfolio of approximately twenty (20) assets within TNDC’s portfolio.Monitor and provide input on annual rent setting goals to meet property financial performance targets; monitor annual income certification process and participate, as-needed, in annual file audit strategy.Contribute to property Watch listing work-out analysis, discussions, and identification of asset-specific solutionsMonitor the current and long-term financial status of TNDC projects by reviewing operating budget variance reports and by preparing long-term operating cash flow projectionsReview and manage asset-level data integrity in Yardi (or equivalent), document management, and Microsoft BI dashboards; standardize chart of accounts mapping for analyticsContribute to preparation of audited financial statements, i.e., related party fees, contingent liabilities, reserves, and surplus cash analysis and distributionAssist Director of Asset Management and Accounting Team in audit tie-out procedures, and provide variance narratives to streamline annual audits and monitoring visits.Review audited financial statement draft reports.Propose solutions to structural deficits and propose disposition of annual surplus/deficitsResponsibility for at least one technical specialization for the portfolio, such as property tax, mortgage, HUD contracts, or insurance management.Physical Well-BeingEnsure portfolio meets owner physical quality standardsApprove specific capital improvement project proposalsEnsure that capital needs assessments are performed on all properties, either internally or from third-party consultants; utilize findings to inform asset management plans, capital improvements prioritization, and/or recapitalization strategiesFor moderate rehabs, serve as owner’s rep in preconstruction, change order control, schedule/cost oversight, and relocation planning coordination (with PM and services)Assist Facilities Team with establishing portfolio decarbonization and resilience targets (electrification, heat pump conversions, envelope upgrades) with facilities team, receive reports from facilities who track energy/water benchmarking, and help direct appropriate team to pursue incentivesComplete property site visits annually, to assess operations and physical conditions, with additional site visits as needed.Portfolio Planning and Re-capitalizationWrite property-specific asset management plans through analysis which finds each properties problems, opportunities and actionsContribute to portfolio long-range planning and lead execution of actions, such as re-finance, partner exits, increasing savings or finding new funding sourcesInvestor/Lender Contract AdministrationMinimize financial risk by ensuring compliance with third party requirements OR Follow the annual compliance calendar (CTCAC/TCAC, CDLAC, HUD, HCD, MOHCD, SF DBI/SFFD where applicable) developed by Director and ensure timely filing—e.g., Annual Owner’s Certifications, monitoring submissions, rent/income limit updates, utility allowances, and affirmative marketing reportingTrack and fulfill city monitoring/reporting obligations specific to SF-funded assets, including compliance with recorded affordability covenants and services commitmentsIn collaboration with Compliance inspection schedule, monitor stakeholder inspections, findings, and close-outsMaintain property asset management plans/deal books that include analysis of most restrictive requirements, services requirements, and other regulatory requirements that need to be tracked annuallyMonitor resident services outcomes that tie to asset KPIs (e.g., tenancy stabilization, reduced arrears/evictions, etc.)Provide timely information to and maintain excellent relationships with lenders, investors, and government agenciesPreparing contract analysis summaries for loan and equity agreementsAdminister loan and equity agreements after initial and final loan closingsResponsibilities Furthering Multiple Owner GoalsAdvance Owner’s main objectives by commenting on Property Management policies plans and proceduresWork with TNDC development staff to create initial operating budgets and project designs that achieve Asset Management goals of long-term financial stability, cost efficiency and well-maintained physical plantParticipate in new project hand-off from development to asset management and operations, understanding the long-term performance objectives and recording regulatory requirementsRecommend for approval management plans which accomplish owner’s asset management goalsAssist Director or VP of Real Estate in preparation of quarterly and annual dashboards and memos for Board/Finance Committee and LPs—performance trends, compliance status, capex progress, risk alerts, and strategy updatesManage welfare tax exemptions, appeals, and valuation negotiations (as needed).Perform other related duties as requiredREQUIRED SKILLSAbility to comprehend and correctly use informational documents including budgets, financial reports, occupancy reports, bids, contracts and meeting minutesAbility to prepare policies, procedures, compliance reports, investor/owner reports and correspondenceAbility to comprehend publications and manuals including HUD and tax credit manuals, industry publications and legal documentsAbility to communicate effectively with coworkers and staff at all levels, residents, government officials, both verbally and in writingAbility to stay informed of changes in policy, methods, operations, etc. as they apply to property and asset management operations and activitiesIntermediate knowledge of MS Excel, Word, and OutlookAbility to work with and sensitivity to a diverse, low-income, multi-ethnic populationSound judgment, excellent analytical and problem-solving skillsStrong time management skillsMINIMUM QUALIFICATIONFour-year college degreeFive years of direct experience in non-profit owner asset management as a full-charge asset manager.Demonstrated abilities in all five of these areas:Property Asset Management Plan writing, including Partner Exit PlansCapital Needs ProjectionsSurplus cash analyses for auditsContract analysisProject managementHigh level specialist knowledge in at least one of these subjects: insurance, property tax, HUD contract renewals/increases, AM design review, or databasingIntermediate knowledge of MS Word and MS Excel.Two years of experience in quantitative analysis.Graduate degree or professional certificates may substitute for experience.PREFERRED QUALIFICATIONSGraduate Degree and/or additional related professional experienceIntermediate knowledge of property management software or accounting softwareTraining or experience in Housing Development and/or Tax Credit programsProfessional certification related to housing development, property or asset managementGraduate Degree and/or additional related professional experienceIntermediate knowledge of property management software or accounting softwareTraining or experience in Housing Development and/or Tax Credit programsProfessional certification related to housing development, property or asset managementTenderloin Neighborhood Development Corporation is an Equal Opportunity Employer.In compliance with the San Francisco Fair Chance Ordinance (August 13, 2014), all qualified applicants with criminal histories will be considered for the position. #J-18808-Ljbffr