Asset Manager II

Job Description

Job Description

Overview:

The Asset Manager II (AM II) oversees a portfolio of high-risk and workout affordable housing properties, serving as a relationship manager, decision maker, and problem solver. The AM II reports directly to the Vice President of Asset Management and collaborates closely with other internal departments.

In this role, the AM II is responsible for developing and implementing comprehensive workout plans through resolution, ensuring strategies are designed to preserve value and restore financial and operational stability. The AM II will prepare and present these plans in committee meetings, providing analysis, recommendations, and progress updates to leadership.

Key responsibilities include conducting detailed reviews and financial analyses, scheduling and executing site visits, and working closely with joint venture partners, lenders, and property managers to drive performance and long-term viability of the assets. The AM II will also focus on enhancing CPP’s relationships with vendors, partners, and investors, while managing asset-level concerns from development through sale or disposition.

The AM II plays a critical role in ensuring the delivery of appropriate tax credits, optimizing cash flow, and safeguarding the integrity and value of CPP’s portfolio.

Position Responsibilities:

·         Manage a portfolio of approximately 15 assets, including Tax Credit, HUD, Bond, HOME, and Rural Development properties, serving as the primary point of contact for the assigned management companies.

·         Oversee financial and operational performance by monitoring budgets vs. actuals, occupancy levels, rent rolls, and monthly/quarterly/annual financial statements; review and approve annual budgets, reserve withdrawals, and year-end audits.

·         Develop and implement Action Plans for high-risk properties in collaboration with partners and property management, tracking effectiveness on an ongoing basis.

·         Conduct required site visits, with greater frequency for high-risk properties, and provide follow-up reporting to ensure compliance and progress.

·         Evaluate management company performance and provide feedback on a quarterly, annual, or as-needed basis.

·         Review governing agreements, financing documents, and regulatory requirements to assess structures, obligations, and constraints.

·         Identify and resolve issues by collaborating with partners, property managers, lenders, and governmental/regulatory entities.

·         Calculate and collect the annual Return-to-Owner (RTO).

·         Participate in portfolio review discussions with internal teams, stakeholders, and management companies.

·         Complete special projects and assignments as directed by the department.