POSITION SUMMARY

The Asset Manager is responsible for evaluating the financial health and coordinating plans for the long-term viability of the affordable housing properties in our portfolio. Responsibilities include reviewing annual budgets and monthly financial operating statements, coordinating reports to investors and regulatory agencies, and overseeing the performance of the property management agent.

ESSENTIAL FUNCTIONS

Performs financial analysis on Plaza Roberto Maestas, and ECR properties and portfolios, under the direction of the Executive Director. Analysis may include, but is not limited to, proforma vs budget tracking, annual budget monitoring, reserve funding/uses, and monthly and annual operating cash flows.
Prepares and/or reviews property reports for the El Centro de la Raza and ECR local board of directors and for external partners including compliance reporting, lender relationships and negotiations, and insurance regulations and adequacy.
Coordinates and/or assists the Property Management company staff with property/portfolio reporting, compliance restrictions, audit reviews, and other requests/projects as required.
Develops external relationships and public activities, as appropriate.
Prepares an annual asset business plan: Each year, prepares annual business plan for strategies, financial goals and physical condition, as well as a five-year plan for all properties. The plan includes the budget, capital expenditure expectations, strategic recommendations, disposition strategies, and a plan for cash flow.
Review of financial statements, develops and tests emergency plans for the properties, develops annual capital budgets in cooperation with property management firm and oversees capital improvements. Replacement reserve projects per the asset management plan.
Sets up initial asset management systems including preparing asset management plans, compliance charts, document binders, financial oversight systems, board report formats and other systems necessary to oversee the housing portfolio.
Reviews and recommends annual budget: Oversees preparation with the property management company and recommends an annual operating budget for all properties.
Financial Results: Achieves targeted results as per the approved annual asset business plan and budget. Monitors closely the debt repayments, AP aging, owner distributions, asset management fee collections, and the quarterly sources and uses of cash. Knows the property’s operation and its position in the market.
Forecasting: Handles cash flow forecasting for each quarter, including capital needs.
Internal Reporting: Maintains and keeps current all required internal periodic reports and keep the asset management system up-to-date on each asset.
Investor/lender reporting: Prepares and submits interim and annual performance reports and information as required by investor’s/lender’s document format. Coordinates with Accounting on information release.
Regulatory Agencies: Builds and maintains relationships with local and regional offices of various regulatory agencies that have a stake in the asset’s performance.
Regular Monthly Oversight: Provides regular portfolio asset management oversight to include but not limited to: replacement reserve draws, insurance claim processing, property tax filing and monitoring, utility allowance studies, monitoring of lender, investor and regulatory agency project inspections.
Mitigates property taxes and handles any necessary appeals or applications for waiver of taxes. The tax exemption application for the non-housing properties within Plaza Roberto Maestas, such as the child development room and the community center, etc.
Negotiate property management agreements, prepare or modify property management policies, oversee performance of the property management company, assure property management firm is complying with all regulatory requirements for the projects.
Property Insurance: Reviews coverages and costs for economic reasonableness and competitiveness.
Occupancy: Achieves targets needed to meet budget with eligible residents, retail, and micro business locations.
Compliance: Works with property management firm to ensure that all residents meet the eligibility requirements as provided by the governing regulatory documents.
Community Relations: Maintains positive community relations in relationship to El Centro.
Risk Management: Assures prompt resolution of life/safety issues, compliance with Fair Housing, OSHA, IRS, and other regulatory requirements. Monitors for any liability issues that could harm El Centro and promptly reports threatened or pending legal action. Promptly notifies the Executive Director of any notices received from lenders, regulators, or other stakeholders indicating default, lack of compliance, etc.

MEASURABLE STANDARDS

Must be able to work with participants from a variety of ethnic and cultural backgrounds.
Must be able to work independently and as part of a team.
Must perform in a professional manner at all times.
Ability to work with people at all levels in the organization.
Ability to motivate, negotiate and persuade diverse groups and individuals.
Self-motivation and self-organization are essential.
Must be able to maintain confidences and handle highly confidential materials.
Ability to work well under pressure and be able to meet deadlines while maintaining a high degree of accuracy.
Must be detail-oriented and have well defined organizational skills.
Proven ability to creatively, flexibly, and independently handle high pressure, multiple, and complex projects.
Ability to understand overall agency operations.

JOB QUALIFICATIONS

Essential minimum skills, education, and experience:

Bachelor’s degree in real estate, finance, or business required.
Prior supervision, property management and asset management or similar relevant experience.
Knowledge of low-income housing tax credits and HUD housing programs.
Working knowledge of asset management functions and willingness to learn more.
Valid driver’s license and evidence of insurability.
Superior verbal, written, analytical, and interpersonal communications skills.
Advanced competency in Microsoft office programs.

Additional Preferences and Responsibilities

Master’s degree preferred.
Bilingual skills in Spanish and English are helpful to this position.

WORKING CONDITIONS/ENVIRONMENT

Works in a general office environment. Generally works a flexible schedule and may be required to work in excess of 40 hours per week. Requires frequent local travel.

NOTES AND SPECIAL REQUIREMENTS

The above duties or working procedures describe the chief function of the job and are not considered to be a detailed description of every duty of the job. This position will require a 6-month evaluation period.

BENEFITS

This position is eligible for the following benefits: vacation, sick leave, medical, dental, vision, life insurance, retirement plan and personal, family, medical, bereavement and military leave.

How to apply

Please send resume and cover letter eortega@elcentrodelaraza.org.