Director Asset Management

A Brief Overview
Reporting to Senior Director of Asset Management, the Asset Manager is responsible for monitoring the performance of affordable housing properties pursuant to project and fund level partnership agreements, oversee compliance with IRC Section 42 and applicable tax codes or all LIHTC and other regulatory guidelines to ensure deliver of tax credits, oversee use of cash to ensure collection of all fees, distributions, and to minimize operating deficits, and ensure the completion of reporting requirements pursuant to project and fund level partnership agreements, and maintain relationships with general partners, lenders, agencies, investors, and third-party management agents to ensure all assets meet their investment objectives.

What you will do

• Reviews monthly books and records at the project level to ensure the property is operating as underwritten.
• Produces a quarterly investor report summarizing the operations for each property including risk rating, review of financial statements, and property operations.
• Collects and reviews the annual audit and tax return for each partnership entity.
• Collects and reviews annual property budgets and identity unusual budget variances.
• Diligently enforces the rights of the Limited Partner under each Property Entity agreement.
• Calculates the annual property cash flow, monitor cash distributions, and ensure the distribution priority of the Property Entity Agreement is followed.
• Reviews and facilitates approval of all requests for consent received from the General Partner or its Affiliates, as applicable, including, reserve withdrawal requests, management company changes, loan refinancing requests, General Partner replacements, etc.
• As necessary, consults with attorneys, accountants, and other professionals for the benefit of the Limited Partners, the Partnership, and the Property Entities.
• Performs a property inspection of each property once each calendar year during the Compliance Period for such property.
• Ensures the compliance of the properties in accordance with the low-income housing tax credit program, Property Entity agreements, state and HUD requirements, including review and support the completion of third-party provider in connection with a Tax Credit compliance audit annually, monitoring and ensuring resolution of 8823s, etc.
• Identifies and analyzes under-performing and troubled assets and prepares and implement work-out strategies (as necessary, consults with attorneys, accountants, and other professionals for the benefit of the Limited Partners, the Partnership and properties).
• Requests appropriate additional information or initiates appropriate corrective action, including consulting with the relevant property managers regarding property management issues, consulting with the General Partner regarding refinancing issues, more frequent on-site visits or, in extreme cases, seeking removal of the General Partner, etc.
• Performs special assignments for the Company's management as well as assisting with preparation and distribution of quarterly reports to investors.
• Reviews 8609s and processes 8609 capital contributions.
• Actively participates in the Asset Management department's initiatives to improve policies and procedures and risk management process.

Qualifications

• Bachelor's Degree from an accredited college or university with a focus in Finance, Business or Real Estate or related field Required.
• Advanced degree Preferred.
• 4-6 years experience with the Low-Income Housing Tax Credit (LIHTC) Program Preferred.
• Industry credential such as HCCP, TCS or C3P certification required.
• Key skills and traits include property and partnership accounting principles, real estate concepts, attention to detail, self-starter, efficient time management, critical thinker, inquisitive, flexible, and strong organizational skills.
• Proficiency in MS Suite Office, especially MS Excel and MS Word, and Adobe Acrobat.
• Excellent verbal and written communication skills.
• Ability to travel extensively.
• Must have a valid driver's license.
• Requires a self-motivated, team player who pays close attention to detail and must be able to adapt to a fast-paced environment and effectively manage a high-volume case load.
• Ability to work independently but also thrive in a dynamic and team-oriented environment.
• Results-oriented with strong project management and execution skills.
• Strong interpersonal, communication and customer service skills with ability to sustain strong relationships with clients, peers, and business partners. Ability to interact with multiple levels in an organization and industry professionals.
• Think critically while balancing business goals with prudent risk management.
• Industry credential such as HCCP, TCS or C3P certification Required.

Benefits
A competitive salary is only one part of your total rewards. We also offer a comprehensive benefits package, including paid time off, medical, dental, life and disability insurance, HSA/FSA accounts, retirement, rewards programs, and so much more!

EEO/ADA
The Company and its affiliates provides equal employment opportunity to all individuals regardless of their race, color, creed, religion, gender, age, sexual orientation, national origin, disability, veteran status, or any other characteristic protected by state, federal, or local law. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.