Senior Asset Manager (LIHTC)

Under general direction, plan and manage the asset management function of the Housing Authority’s real estate portfolio including the housing assets owned by affiliates. This classification provides financial performance review; develops and monitors physical capital needs assessment programs; and reviews, recommends and implements financing or refinancing schemes at multi-family and tax credit properties. Provides highly responsible and complex professional assistance to the Directors of Property Operations, and Housing Development in areas of expertise; and performs related work as required. This is an advanced professional class in the Asset Management series. The incumbent is responsible for overseeing and coordinating asset management for current and future properties that are funded through a variety of private, federal, state and local sources. This is distinguished from the Asset Manager position by the complexity of the projects assigned and may substitute for the Director of Property Operations or other senior staff in their absence. It is further distinguished from the Director of Property Operations as they direct and are responsible for the work of the Department. The incumbent organizes and oversees day-to-day implementation of the asset management function with necessary assistance from specialized consultants and agency staff. The Senior Asset Manager also participates in short- and long-term planning of department goals and objective. Successful performance of the work requires skill in coordinating work with that of other departments and outside agencies. Responsible for performance monitoring of the multi-family portfolio through the use of standard performance metrics; will also be assigned to directly asset manage properties. Responsible for ensuring compliance of the assigned portfolio with state, local, and federal regulations as well as lender and investor requirements and reporting. Develop policy, procedure, and timelines and schedules to ensure that related activities are completed accurately and in a timely manner. Prepare and submit reports, monthly expense variance review, welfare tax exemptions, AOCs, budgets, etc. according to deadlines. Develop and maintain a real estate document management system for Housing Authority-owned and affiliate-owned properties. Create and maintain up-to-date property profile summaries and other key documentation. Represent the Authority and the Authority’s interest and provide relevant and timely information to interested parties such as, but not limited to, lenders, equity syndicates, city planners, attorneys, service providers, vendors, housing staff of local, state and federal agencies as well as inter-departmental units. Monitor affiliated tax-credit properties’ partnership balance sheet trends including distribution of surplus cash, soft loans, reserves and capital account balances. Monitor the property management companies’ policies and practices, including conducting regular site visits, tenant file reviews and participation in the watch list meetings. Review debt structure of properties and work with the Director of Property Operations, Director of Housing Development and Director of Finance to develop and implement refinancing strategies as appropriate. Leads financial repositioning as necessary. Ensure long term capital improvement needs are adequately planned for and financed. Work with the Property Operations and Housing Development staff to obtain funds when there is a deficit to cover capital need improvement. Analyze review and update, where appropriate, the development of the property and capital budgets for assigned properties, work with property management staff in the development of the annual property budgets for all properties. Lead in preparing eligible properties for Year 15 buyout; manage the buyout transaction. May be assigned specialized tasks such as Below Market Rent program, bond compliance, land trust work, property management policy, resident services contracting, watch list meeting process etc., as needed. Attend a variety of management, committee, and work group meetings concerning issues of interest to the Authority. Develop and implement necessary departmental procedures, guidelines, and regulations pertaining to those activities and processes undertaken by the Asset Management function. Provide monthly reports to Department Directors of activities; conduct routine meetings to discuss current and future projects and activities; present and resolve various issues and problems. Gather and analyze data needed to complete reports required by HUD, or other regulatory agencies and ensure compliance with current regulatory guidelines. Prepare, review, and present staff reports, various management and information updates, and reports on assigned programs and special projects to a variety of committees, the Board, and the general public. .Provide technical support to lower classifications by reviewing their work; answer questions by researching and interpreting applicable policies and regulations. Other asset management tasks include but are not limited to: Monitor the AHA loan portfolio to all parties, with related and 3rd party entities. Monitor and maintain HOA documents. Order and process regular physical needs assessments. Responsible for ground leases, including with land trust. Undertake legal document review such as the AHA regulatory agreement and HOME documents. Makes recommendations on rent increases and HAP collection for the portfolio. Performs other duties as assigned. QUALIFICATIONS Knowledge of LIHTC and other affordable housing programs and compliance is required. Excellent data management skills. Experience managing property management either directly or through a third-party management company. Yardi affordable housing module Familiarity with affordable housing and real estate finance concepts and practices. Knowledge of accounting principles and practices Financial analytical skills with an in-depth understanding of rental property budgets and performance metrics Property inspection protocol and ability to walk sites and evaluate reports. Techniques of negotiations and contract development. Applicable federal, state, and local regulations, laws and codes as they relate to housing and community development programs and reporting requirements. Modern office practices, methods, computer equipment and applications related to the work. Techniques for effectively representing the Authority in contacts with governmental agencies, community groups, and various business, professional, educational, regulatory, and legislative organizations. Techniques for providing a high level of customer service by effectively dealing with the public, vendors, contractors, and Authority staff. Ability to: Participate in developing and implementing goals, objectives, policies, procedures, work standards, and internal controls for assigned program areas. Review and understand audits, financial reports and projections, and associated legal documents. Lead in preparing and administering program and project budgets; allocate limited resources in a cost effective manner. Effectively administer assigned programs and administrative activities, including the ability to design and implement policies and procedures Interpret, apply, explain, and ensure compliance with federal, state, and local policies, procedures, laws, and regulations. Evaluate and develop improvements in operations and procedures. Prepare clear and concise reports, correspondence, policies, procedures, and other written materials. Research, analyze, and evaluate new service delivery methods, procedures, and techniques. Analyze, interpret, summarize, and present complex technical and financial information and data in an effective, understandable manner. Conduct complex research projects, evaluate alternatives, make sound recommendations, and prepare effective technical staff reports. Establish and maintain a variety of filing, record-keeping, and tracking systems. Organize and prioritize a variety of projects and multiple tasks in an effective and timely manner; organize own work, set priorities, and meet critical time deadlines. Operate modern office equipment including computer equipment and specialized software applications programs. Use English effectively to communicate in person, over the telephone, and in writing. Use tact, initiative, prudence, and independent judgment within general policy, procedural, and legal guidelines. Establish, maintain, and foster positive and harmonious working relationships with those contacted in the course of work; work effectively across departments and with outside agencies, contractors, and consultants. Education and Experience: Any combination of training and experience that would provide the required knowledge, skills, and abilities is qualifying. A typical way to obtain the required qualifications would be: Equivalent to graduation from an accredited four-year college or university plus a minimum of four (4) years of asset management experience in various aspects of an affordable housing agency including finance, development/rehabilitation, management and related real estate issues with an emphasis on asset management financial and regulatory analysis. One (1) year of supervision. Licenses and Certifications: Possession of, or ability to obtain, a valid California Driver’s License by time of appointment. Must be able to be insured under AHA’s owned automobile insurance policy. CHAM certification strongly preferred. #J-18808-Ljbffr