Asset Manager (37 views)

Berkeley, CA
June 13, 2018 2018-08-12
Job Description

Asset Manager

About SAHA: Satellite Affordable Housing Associates (SAHA) is a leader in the affordable housing industry and is driven by the fundamental belief that every person deserves a home. We take pride in providing quality affordable homes that empower people and strength neighborhoods. Our philosophy of embracing sustainability, initiative, financial responsibility and diversity makes us one of the preeminent affordable housing development/management providers and employers in the Bay Area. With a staff of over 170, we take pride in offering our employees work/life balance, opportunities for growth and development and an excellent benefit package including several plans with 100% employer paid, employee coverage.

Position Summary: This position works closely with the Housing Development 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. 

Benefits/Perks: We are proud to offer our employees a comprehensive benefits package and work/life balance. Here are some of the highlights:

  • Medical HMO- $10 copays. Free for employees, less than $60 / month for employees + children. 
  • Dental HMO or PPO. Free for employees, less than $60 / month for employees + children. 
  • Paid Time Off- 14 days in first year, 19 second year, 24 third year and beyond. 
  • Paid Holidays- at least 9 per year. 
  • Regular Schedule- M-F 8:30 – 5:00.
  • Retirement- 401k plan with 4% employer match. 
  • Life, AD&D, LTD Insurance- basic plan free for employees, option to purchase additional coverage, including for spouse or dependent.

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.

General

    • 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 

  • 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.

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.

Mathematical Skills 

  • 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*