Position Summary: This position works closely with the Real Estate Development, Finance, and Property Management departments to ensure the long-term financial sustainability of the operating portfolio and new affordable housing developments. This position also works closely with regulatory bodies, government agencies and funders.
Location: This position will work at SAHA’s Main Office in Berkeley.
Compensation: The pay range for this position begins at $70,000 annually. Starting pay rates depend on candidate experience, skill, comparisons to current staff, and the needs of the specific position hired for.
Essential Duties & Responsibilities include but are not limited to the following:
Information Management: Maintains up-to-date legal and financial documentation for every property; Tracks property performance.
- Maintains property regulatory agreements, financing documents, warranties, as-built drawings, capital needs assessments, lease agreements with commercial tenants, and other basic documents.
- Coordinates hand-over of documents and ensures the organization’s Project Transition policies and procedures are followed as properties transition from development to operations.
- Tracks debt obligations and develops strategies for financial restructuring and/or amendments of regulatory agreements as needed.
- Maintains up-to-date Real Estate Owned schedule for the organization.
- Monitors the cash flow, managing general partner guarantees, and equity accounts for each property.
- Ensures that regulatory and statutory requirements are followed.
- Monitors the performance of SAHA’s joint venture properties managed by third party management agents and coordinates with partners to resolve any issues that may arise.
Reporting: Coordinates organization-wide compliance with reporting requirements.
- Maintains master reporting calendar.
- Ensures timely filing of financial and other reporting requirements to investors, regulatory agencies, grantors and other interested parties for all SAHA’s properties, including properties managed by third parties.
- Reviews annual budget for each property and ensures that budget is transmitted to lenders and partners as required.
- Coordinates and monitors timely and accurate completion of Property Tax Welfare Exemptions and other annual filings required by regulatory agencies.
Analysis: Provides analysis of property and portfolio issues and manages the implementation of projects as assigned to enhance the quality and performance of the organization’s portfolio.
- Develops reserve analysis based on long-term capital needs assessments.
- Compares property financial performance with pro-forma projections to maximize the performance of each property; updates projections for Year 15 transactions.
- Develops operating budgets for new developments in collaboration with housing development staff and property management.
- Prepares financial assessments and recommendations for any portfolio-wide initiatives.
- In the event of a workout situation, works closely with property management as well as with other parties in the transaction to resolve financial difficulties.
- Represents the organization, and interacts, with regulatory bodies, government agencies and funders on an ongoing basis.
- Additional duties as assigned by management..
Education and/or Experience Requirements
- Bachelor’s degree or comparable professional certificates in finance, accounting, construction management, asset management, property management, or related field.
- At least five years experience in affordable housing with understanding of HUD and Tax Credit programs is preferred.
Abilities and Attributes
- Ability to handle daily responsibilities with minimal direction.
- Ability to work collaboratively with different levels of management, funders and government agencies.
- Excellent analytical and problem-solving skills.
- Excellent written and oral communication & presentation skills.
- Ability to prepare and analyze financial statements and development pro formas.
- Ability to review/interpret loan documents and regulatory agreements.
- Ability to work independently as well as in team structure.
- Must be highly skilled in MS Office, specifically Excel & Word.
- Must be accurate and highly detail-oriented with follow-through skills.
- Must be pro-active in identifying and proposing solutions with the ability to exercise sound judgment in all matters.
- Strong financial skills with the ability to develop, manipulate and monitor pro formas, loan documents, budgets and other finance documents.
- Understanding of asset management systems.
*Satellite Affordable Housing Associates is an Equal Opportunity Employer*