Status: Full TimeLocation: Koreatown
SUMMARYAs a member of ACOF’s Asset Management Department, the Asset Manager will manage a portfolio of Affordable Housing developments through the oversight of property management companies, semi-annual site visits, regular financial reviews, and compliance review. In addition, the Asset Manager will focus on the review and analysis of property-level financial data for ACOF’s portfolio, including annual operating budgets, quarterly financial statements, residual receipts analysis, year- end audited financial statements and tax returns. The Asset Manager will also assist the department on special projects related to Partnership Reporting, Workouts and Year 15 exit strategies. Theideal candidate will be able to work in a team-building atmosphere and be contributing member in our organization.
ESSENTIAL DUTIES• Be primarily responsible for asset management activities, including oversight of property management agreements, regulatory agreements and requirements; development and oversight of property budgets and financial performance; lender, investor and program compliance reporting; capital needs assessments and planning.• Maintain clear and consistent communications with property management agents regarding housing objectives and operations as they relate to project budgets, lease-up, maintenance, rent collections, annual monitoring and compliance, rent increases, day-to-day procedural issues, and Agency mission.• Work closely with the Chief Financial Officer to initiate and review annual financial statement audits.• Conduct regular analysis of operating statements, budgets and other data relating to asset management. Forecast operating performance and capital needs, and report to Senior Asset Manager as required and needed.• Work proactively to identify property performance issues if they arise. If needed, work collaboratively with housing, finance and property management staff to create and implement a workout plan or other steps to address performance concerns.• Perform physical inspection of assigned properties twice a year.
SUPERVISORY RESPONSIBILITYThis position does not have direct supervisory responsibility at this time.
Job RequirementsThese specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this job. Individual abilities may result in some deviation of these guidelines.
To perform effectively in this position, the incumbent must have:• 2 -3 years’ experience in multifamily real estate development or management with background in affordable housing• Bachelor’s degree from an accredited college or university in accounting, finance, or related field• Minimum 6 years of work experience may be substituted for a college degree• Minimum 3 years of experience working with LIHTC
• Possession of a valid California driver’s license• Access to a personal vehicle to be used to conduct ACOF business• Ability to meet California minimum and ACOF insurance requirements
Preferred Qualifications:• Master’s degree in business administration, finance, economics, or accounting, or equivalent experience• 3 – 5 years experience with operations and analysis, budgeting, compliance reporting, and financial reporting in a non-profit setting.• An entrepreneurial and creative approach to problem-solving in the field of affordable housing and asset management;• Strong written and verbal communication, Excel, and analytical skills• Sense of humor