Associate Asset Manager

Responsibilities:

Oversee a portfolio of approximately 65 LIHTC properties.

Oversee, analyze, and report on financial performance; monitor budgets (compared to actuals) and review occupancy levels (rent rolls) as necessary, or in the case of Watchlist properties, monthly, according to specified benchmarks.

Monitor overall operational performance of regional portfolio and communicate progress and issues with Watchlist properties on an ongoing basis.

Evaluate property management performance as required.

Conduct all necessary annual site visits (including tracking those outsourced). Concerning properties must be visited more regularly; stabilized properties are to be visited annually or as reflected in the partnership agreement.

Work closely with third party property managers and leasing agents to provide direction for and oversight of business plans, budgets, forecasts, leases, analysis, and approvals.

Maximize total return for each assigned asset through the analysis of property efficiencies and identifying opportunities for improved performance.

Evaluate and monitor LIHTC compliance and other risk factors quarterly, or as needed.

Review partnership agreements, regulatory agreements, financing documents and other sources to determine enforceability of terms, financing structures and constraints, as needed.

Analyze and process partner requests to amend, update, or modify partnership documents, ensuring accuracy, compliance, and timely completion.

Review year-end financial audits for respective LIHTC partnerships.

Analyze quarterly and annual property performance compared to budget and underwriting, and report quarterly to investors through Fund Management.

Ascertain and work to resolve issues through collaboration with general partners, property managers, internal committees, lenders, and governmental/regulatory entities.

Forecast and analyze benefit streams of lower tier partnerships for Fund Management and Accounting.

Management and collection of the partnership asset management fees and cash flow distributions (or Return-to-Owner obligation).

Monitor reserve balances and oversee requests for release of replacement and operating reserves.

Review and process investor capital calls and lower tier capital contributions.

Develop and distribute periodic asset management reports to investors, consultants, and other partners. Complete ad hoc assignments and/or projects required by the Asset Management Department.

Collaborate with team members by providing feedback and contributing to group discussions that drive continuous process improvement and enhance team efficiency.