Affordable Asset Manager

Department: Affordable Housing | Equity - Asset Management

We are Walker & Dunlop. We are one of the largest providers of capital to the commercial real estate industry, enabling real estate owners and operators to bring their visions of communities — where people live, work, shop, and play — to life. We are committed to creating meaningful social, environmental, and economic change in our communities.

Department Overview

W&D Affordable Equity (formerly Alliant Capital) is a leading tax credit firm focused on tax credit syndication for the development and financing of affordable multifamily rental housing. As a syndicator of Low-Income Housing Tax Credits (LIHTC), W&D Affordable Equity raises corporate equity and monitors the development, construction, lease-up, and permanent financing phases of its investments. With a dedicated team of experienced real estate, asset management, legal, and tax professionals, we provide the highest level of fully integrated real estate and investment support services.

The Impact You Will Have

As a member of WDAE’s Asset Management Department, the position is responsible for maximizing asset values and limiting risk liabilities for the assigned Low Income Housing Tax Credit portfolio. The Asset Manager will manage a portfolio of Affordable Housing developments through the oversight of a third-party management company, site visits, financial review, compliance review, as well as maintaining relationships with developer partners. In addition, the Asset Manager will focus on the review and analysis of property level financial data for their portfolio, including annual operating budgets, quarterly financial statements, residual receipts analysis, year-end audited financial statements, and tax returns. The Asset Manager will also assist the department on special projects related to partnership reporting, strategic workouts and “Year 15” exit strategies. The position requires the ability to apply portfolio analysis and provide in-depth decision-making recommendations to Senior Management.

Primary Responsibilities

• Partner with Acquisitions during underwriting to evaluate projected operating performance, investment assumptions, partnership structures, sponsor and property management capacity, and relevant market data.

• Assess deal structure, risk exposure, and overall investment viability.

• Manage the financial and operational performance of an assigned multifamily LIHTC portfolio.

• Review monthly property management reports and evaluate key performance indicators, including vacancy, delinquencies, turnover, and budget-to-actual variances.

• Analyze annual budgets, quarterly financial statements, audited financials, and K-1 tax returns.

• Monitor construction, lease-up, stabilization, ongoing operations, and compliance with Section 42 and applicable state agency requirements.

• Evaluate and approve equity installment requests, equity adjustments, yield maintenance calculations, and reserve withdrawals within defined authority limits.

• Perform surplus cash calculations and coordinate fee and cash flow distributions.

• Monitor guaranty triggers (completion, operating, and tax credit delivery) and assess guarantor financial capacity.

• Strengthen property monitoring and risk management processes, including oversight of third-party property management firms.

• Maintain accurate and complete portfolio records and internal databases.

• Develop and maintain strong relationships with general partners/sponsors and implement asset management strategies to enhance investment value.

• Provide refinancing, disposition, acquisition, restructuring, and workout support for distressed assets.

• Evaluate economic and demographic trends and assess their impact on portfolio performance.

• Prepare investor reports and deliver presentations to investors, clients, and Senior Management.

• Other duties as assigned.

• Attendance is generally required from 8:30 am – 5:30 pm local time, Tuesday through Thursday, with the option to work remotely on Mondays and Fridays.

Education and Experience

• Bachelor’s degree in Business Administration, Finance, Economics, Accounting, or a related field; equivalent experience considered.

• 5+ years of experience in affordable housing asset management, particularly LIHTC portfolios.

• Strong background in real estate operations, financial analysis, budgeting, reporting, and general accounting.

• Experience managing financial performance across a portfolio of properties required.

• Workout and restructuring experience strongly preferred.

Knowledge, Skills and Abilities

• Strong written and verbal communication, presentation, interpersonal, organizational, and negotiation skills.

• Advanced analytical and problem-solving abilities, with strong knowledge of accounting principles and the ability to interpret financial statements and underwriting models.

• Proficiency in portfolio and investment analysis, including IRR, XIRR, NPV, NOI, cap rates, DSCR, sensitivity analysis, equity installment tracking, yield maintenance calculations, and cash flow distributions.

• Ability to present complex financial and portfolio analysis to Senior Management and collaborate effectively within a broader asset management team.

• Ability to manage multiple priorities in a fast-paced environment while exercising sound judgment and maintaining a positive, team-oriented approach.

• Strong attention to detail and ability to oversee portfolio data integrity and reporting accuracy.

• Proficiency in Microsoft Office applications; familiarity with Access, FileMaker, PowerPoint, and Crystal Reports preferred.

• Ability to show ownership of your work, take on challenges and acknowledge growth opportunities, and demonstrate patience when learning new processes.

• Courtesy, respect, and thoughtfulness in teaming with colleagues and other stakeholders

This position has an estimated base salary of $100,000 - $110,00 plus a discretionary bonus. An employment offer is based on the applicant’s relevant work experience, applicable knowledge, skills, abilities, internal equity, and alignment with market data.

We are accepting applications until November 30, 2026.

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What We Offer

• The opportunity to join one of Fortune Magazine’s Great Places to Work winners

• Comprehensive benefit options* that have earned Walker & Dunlop the gold level of the 2025 Cigna Healthy Workforce Designation™, some of which include:
  - Up to 83% subsidized medical payroll deductions
  - Competitive dental and vision benefits
  - 401(k) + match
  - Pre-tax transit and commuting benefits
  - A robust health and wellness program – earn cash rewards and gain access to resources that
  promote health, engagement, and balance
  - Paid maternity and parental leave, as well as other family paid leave programs
  - Company-paid life, short and long-term disability insurance
  - Health Savings Account and Healthcare and Dependent Care Flexible Spending

• Career development opportunities

• Empowerment and encouragement to give back – volunteer hours and donation matching

*Eligibility may vary based on average number of hours worked

Equal Employment Opportunity Statement

We are committed to equity in all steps of the recruitment and employment experience. We believe in equal access to opportunities in our workplace. We do not tolerate discrimination, including harassment, based on any characteristic protected by applicable law, such as race, color, national origin, religion, gender identity, sexual orientation, sex, age, disability, veteran or military status, and genetic information, or any other characteristic protected by applicable law. We strive to be a safe place to ask questions, build professional relationships, and develop careers.

SPAM
Please be wary of recruitment scams. An indication of a scam might be a request for sensitive or bank information at the time of application or emails coming from a non walkerdunlop.com email address. Please call us at View phone number on aiapply.co, if you have any concerns about information requested during or after the application process.

Fair Chance Hiring

Background checks, including any questions related to infractions, arrests, or conviction records, will not be conducted until after a conditional offer of employment has been accepted. We will consider for employment qualified applicants regardless of arrest and conviction records, in accordance with federal, state, and local laws.