Asset Management Associate

Asset Management Associate

The Asset Management Associate works closely with the Real Estate Development, Finance, and Property Management teams to ensure the long-term financial and physical sustainability of assigned properties in the organization's portfolio. Key responsibilities also include interacting with investors, lenders, and regulatory and government agencies to fulfill reporting requirements, and obtain transaction approvals.

The following essential functions of this position are performed personally, in cooperation with the supervisor, and/or in coordination with other staff. Additional work functions and duties may be assigned.

• Responsible for an assigned property portfolio consisting of stabilized properties acting as primary contact for investors and lenders.
• Coordinate all responses to questions and requests from investors/lenders regarding assigned portfolio including coordination of site inspections.
• Facilitate reporting to investment partners and lenders to ensure compliance with partnership and loan agreements for assigned properties.
• Collaborate with the Property Management, Finance and Asset Management teams to prepare annual operational budgets for assigned properties focused on optimizing property revenue and managing expenses to maximize cash flow and economic benefits to Nevada HAND, its affiliates, and investors. Ensure timely submission to Investment Committee, investors and lenders as required.
• Assist with management of the physical health of the portfolio by participating in property site visits. Assist with the management and dissemination of site inspection reports and analyses to the Property Management team, Executive Leadership Team, and other appropriate parties. Follow up using various methods (e.g., reviewing financial reports for purchases, conducting re-inspections, reviewing documents provided by staff) to ensure that any needed improvements are completed.
• Calculate and monitor property cash flow distributions for assigned properties in accordance with each respective limited partnership agreement (LPA).
• In collaboration with appropriate teams, comprehensively analyze ongoing property financial reports to problem-solve and proactively affect necessary changes for under-performing assigned properties.
• Assist with developing asset management plans for assigned properties to correct impediments to property cash flows as needed; facilitate plan status updates.
• Maintain and utilize asset management systems, tools, and financial models to forecast and communicate long-term outcomes based upon current property results.
• Assist in the creation and refinement of the reporting procedures, database, and other informational systems used to collect data, track projects, enhance communication, and disseminate findings and results.
• Collaborate with the Real Estate, Property Management, and Finance teams to create, monitor, and maintain project deal books within the shared drive database.
• Prepare and submit reserve withdrawal requests for assigned properties.
• Interpret and monitor partnership, lender, and interested party documentation to ensure ongoing compliance requirements are met.
• Participate in collaboration discussions with Property Management to evaluate policies and procedures that support the best interests of owners/investors as well as Nevada HAND's mission.
• Collaborate with business units throughout the life stage of properties from pre-development to disposition.
• Perform various financial and analytical analyses as assigned, including but not limited to monthly Yardi Spreadsheet Links (YSLs), Quarterly Operations Reports (QOR), Quarterly Financial Performance Reports, and Board Reports.

Other Functions and Work Duties:

• Perform other duties as from time to time may be determined necessary for the well-being of the total operation.
• Coordinate specific work tasks with other personnel within the department as well as with other departments in order to ensure the smooth and accurate flow of work and information.
• Perform tasks which are supportive in nature to the essential functions of the job, but which may be altered or re-designed upon individual circumstances.

Qualifications and Skills Required:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. Requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience:

• Bachelor's degree in a relevant field of study preferred. In lieu of degree, an additional three years' experience in the area(s) noted below.
• Three years' experience in financial analysis and reporting, asset management, or affordable housing development including LIHTC.

Other Skills and Abilities:

• Real estate acumen, affordable housing preferred.
• Advanced financial analytical ability.
• Capacity to establish and monitor property performance expectations.
• Must possess a valid driver's license, vehicle, and vehicle insurance.

Physical Requirements:

• Stooping - frequently bending body downward and forward by bending spine at the waist, requiring full use of the lower extremities and back muscles.
• Reaching - frequently extending hand(s) or arm(s) in any direction.
• Handling - frequently seizing, holding, grasping, turning or otherwise working with hand or hands.
• Ability to transport files up to approximately 20 pounds.
• Ability to lift files up to 20 pounds from the ground level to 4 feet in height, and move them from shelf to shelf in storage.
• Able to talk or hear using telephone.
• Able to sit at desk for extended periods of time.
• Specific vision abilities required by this job include close vision, depth perception and ability to adjust focus.
• Walking- moving about on foot to accomplish tasks, particularly walking a property. The worker is subject to both environmental conditions inside and outside.