Job description
POSITION ANNOUNCEMENT
Job Title: Asset Manager
Location: Los Angeles, CA
Department: Asset Management
Reports To: Executive Director
Hours: M-F plus some evening, weekends, and holidays
Pay Rate: DOE/DOQ plus flexible benefits
FLSA Status: Exempt
Category: Administrative
Supervision Responsibilities: None
Summary: Clifford Beers Housing ("CBH") seeks a full time Asset Manager ("AM") to oversee the portfolio management and administration of CBH's operating properties to ensure long term performance, regulatory and investor compliance, and quality of life for CBH's housing development projects and its tenants. The AM will be responsible for all asset management and compliance reporting associated with CBH's portfolio which includes 7 completed projects totaling 310 units primarily throughout Los Angeles County. Additionally, CBH is under construction on 25 units and another 76 units are in predevelopment.
Essential Duties and Responsibilities: This is not an exhaustive task list, and other duties may be assigned as deemed appropriate or necessary by the supervisor or program director.
Works hand in hand with the Housing Development Director during submittal of housing development applications as related to operating budgets and proformas, rent restrictions, welfare tax exemptions, fair housing issues, supportive service plans
- Acts as liaison to the service provider and other operational issues as necessary
- Transitions projects from construction to completion and turnaround underperforming properties
- Responsible for all asset management and compliance reporting associated with CBH's portfolio which includes 7 completed projects totaling 310 units primarily throughout Los Angeles County
- Responsible for overseeing an independent property management company responsible for the property management of CBH's portfolio, conducts periodic building and tenant file inspections, prepares annual operating budgets, prepares projections of cash flow and residual receipts calculations, prepares needs assessment and capital budgeting
- Coordinate with independent accountants in the preparation and review of audited financial statements as well as performing other financial analysis as required
- Oversees all leasing activities
- Research, as necessary, partnership agreements, financing documents, regulatory agreements and other sources to determine financial, statutory, and regulatory reporting requirements
- Prepares and ensures all regulatory, lender and investor compliance
- Prepares and submit initial and on an annual basis, all documentation to ensure welfare tax exemption
- Ensures approval of annual property and liability insurance to all respective parties involved in transactions as well as minimize risk to CBH's portfolio
- Ensures that required building's business licenses and permits are obtained and remain current
- Presents the status of housing development projects to CBH's Board of Directors
Education and Experience Matrix--one of the following combinations is required:
EDUCATION
EXPERIENCE
Bachelor's degree in Urban Planning, Finance, Real Estate, or related field.
Minimum 1 year of direct, hands-on experience performing asset management functions, or 2 – 4 years of related/comparable work experience.
Other Position Requirements:
- Knowledge of public and private housing finance programs, including HUD, HOME, particularly Section 8 programs, low income housing tax credits and IRS Section 42
- Professional demeanor in representing the organization to colleagues, constituents, funders and public officials
- Strong attention to detail and the ability to manage multiple projects, establish workload priorities, and meet deadlines
- Excellent written and verbal communication skills, with strong emphasis on financing
- Experience in underwriting proformas, particularly operating cash flows
- Understanding of dispositions, capital accounts, and recommending exit strategies for projects
- Ability to handle sensitive and confidential materials
- Proficient in Microsoft Office, Word, Excel, and Outlook
- Driving with current class C driver's license, a vehicle for transportation, proof of valid automobile insurance, the ability to be insured by MHALA liability insurance are conditions of employment
How to apply
How to Apply: Email Resume to kpark@cbhousing.orgEOE. Please reference Asset Manager in subject line. Please submit cover letter and resume as an attachment in Word Document or PDF format only.