Job Description

Job Description

Job Description

Position Summary

The Senior Asset Manager is to assist in all aspects of the administrative, financial, capital and operations of the organization’s LIHTC/affordable portfolio. This full-time position includes occasional travel throughout Colorado to tour properties, attend meetings, and support organizational expansion, including developing and evaluating Rocky Mountain Communities (“RMC”) staff, and supporting new real estate partnerships.

About

RMC is a nonprofit organization that owns, manages, and develops affordable housing across Colorado. The organization’s mission is to build brighter futures by investing in resident-focused affordable housing and services, empowering individuals, and families to thrive. At RMC, we believe that offering supportive and life enhancing services is at the root of our communities. The Sr. Asset Manager will be a strategic partner in the organization assisting in determining the long-term vision and setting the course for the future of residents at RMC.

Responsibilities

• Maintaining a detailed working knowledge of each project within the portfolio.
• Monitor asset performance by collecting, reviewing, analyzing, and reporting on asset financials, including monthly financial reviews, monthly and quarterly portfolio reporting, internal cash flow modeling and forecasting, annual budgeting of revenue, and expenses and capital expenditures.

• Monitoring the achievement of benchmarks such as construction completion, qualified occupancy, stabilization, and permanent loan conversion of LIHTC projects. Develop, analyze and prepare meaningful reports for investors and senior management.
• Advise property management on decision-making based on budgets, cash balances, development processes, and business plans.

• Work closely with our VP or Resident Services to ensure resident and community goals and objectives are met.

• Prepare financial evaluations and recommendations for portfolio-wide initiatives, including the development of proforma budgets, benchmarking and utility analysis.
• Fully understand portfolio compliance requirements and monitor all aspects of partnerships, including the status of proformas, equity accounts, future buyouts, debt financing and capital planning.

• Ensuring compliance of portfolio by tracking property management department filings including state, lender, and investor reporting, as well as tax exemptions as a non-profit entity.
• Manages the annual insurance renewals for all properties and corporate office. Handles any insurance claims by working directly with the insurance company, RMC maintenance staff, and contractors.

• Oversee the operating and replacement reserves and determine whether any work at the properties should be paid for using operating or reserve funds. Work directly with lenders and comply with HUD rules at our HUD properties when it comes to withdrawals.
• Other duties as assigned.

Knowledge, Skills, and Abilities:

• Strong written and verbal communication skills, allowing for clear and succinct communication in a variety of settings (phone, in-person, and email), and with people of various backgrounds and levels, both internally and externally.
• Thorough understanding of MS Office, with advanced knowledge of MS Excel.
• A strong customer focus, with a dedication to meeting the expectations, needs, and requirements of internal and external customers, successfully gaining their trust and respect.

• Flexible, pragmatic problem-solver with ability to analyze and understand complex issues.

• Ability to work successfully both independently and with others, building professional working relationships based on mutual trust and respect.
• Comprehensive understanding of financial statements, including Operating Statements, Rent Roll, Balance Sheet, and Aged Receivables.
• A strong understanding of development, finance, operations, or affordable housing.
• Strong planning and organizing skills, with the ability to work on multiple projects simultaneously while adhering to deadlines.

• Strong attention to detail.

Qualifications

• Bachelor’s degree in accounting, real estate, finance, economics, or a related field or equivalent required. Master’s Degree preferred.
• Minimum of 5-years’ experience as an asset manager or regional property manager in affordable housing and/or affordable multi-family residential real estate finance.

• Experience with Limited Partnership agreements, loan documents, regulatory agreements, and other legal documents relating to affordable real estate transactions.

• Experience or strong interest in non-profit organizations.
• Experience with multifamily financial modeling a plus.

Essential Job Functions: Must be able to perform the position’s essential functions with or without reasonable accommodation.

• This position operates in a professional office environment. This role constantly operates a computer and other office productivity machinery, such as a calculator, copy machine, and computer printer.
• The person in this position frequently communicates . Must be able to exchange accurate information as the situation dictates.
• Ability to operate personal computers and office equipment; read, record, and interpret information at least 6-7 hours per day.
• Must be able to remain in a stationary position 80-90% of the time.
• The person in this position needs to occasionally move about inside the office to access file cabinets, office machinery, etc.
• Occasional travel within Colorado during business hours, however, some out of area and overnight travel may be expected.

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