Job description

A healthy community begins at home. REACH provides quality affordable housing
_ and opportunities for individuals, families, and communities to thrive._
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Job Description

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Title:* Portfolio Asset Manager Department: Asset Management
FLSA Status: Exempt Reports to: Director of Asset Management
Flex Status: Flexible Effective: September 2016
Salary Range: $69,992 -$94,1620

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REACH is an equal opportunity employer that strives to create a_*
diverse workforce and an inclusive culture.

REACH believes that each employee makes a significant contribution to our success. That contribution should not be limited by the assigned responsibilities. Therefore, this job description is designed to outline primary duties, qualifications and job scope, but not limit the employee nor the organization to just the work identified. It is our expectation that each employee will offer his/her services wherever and whenever necessary to ensure the success of our endeavors.
All REACH staff share a commitment to anti-racism; the identification and elimination of racism by actively changing oppressive systems, structures, policies, and attitudes so that historic and future harm can be eliminated for communities of color.

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Position Summary:*
This position is responsible for maintaining project and partnership compliance requirements, and helping to provide for the long term health of REACH’s real estate portfolio. The position works to ensure that all properties maintain a strong financial position, comply with all contractual, regulatory and statutory requirements, and fulfill all internal and external reporting requirements in an accurate and timely manner. This position reports to the Director of Asset & IT Management. This position serves as a primary contact for investors, lenders and regulatory agencies for the purposes of compliance and reporting.

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Essential Functions/Major Responsibilities*
Compliance and Reporting

• Management of a portfolio of LIHTC and HUD financed properties, as well as other similarly rent/income restricted units. Includes providing regulatory oversight of properties and preparation/submission of required reporting.
• Management of property files, loan documents, partnership agreements, operating manuals, property management plans, tenant files, etc. Ensure protocols for storage and archiving of all documents are met.
• Provide reports, performance dashboards and other similar materials for use by REACH board and staff, as well as outside stakeholders, as required.
• Maintain compliance with partnership agreements, financing documents, regulatory agreements and other sources of financial, statutory and regulatory reporting requirements, including submittal of compliance reporting to investors, lenders, monitoring agencies and other project stakeholders.

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Property Taxes & Insurance*

• Compile resident income data for support of annual tax exemption application.
• Work with Director of Asset Management in processing tax exemption applications and management of any necessary appeals to real estate tax assessments.
• Process insurance certificate requests, and update/maintain project information with insurance provider.
• Work with property management staff to implement risk mitigation best practices.

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Project Files, Property Profiles & Entity Registrations*

• Upkeep and maintenance of project files and deal books, both hard copy and electronic. Includes real estate transaction documents, partnership agreements and other regulatory agreements.
• Transition property files from Housing Development to Asset & Property Management, as projects reach stabilization.
• Maintain, update and add project information as required across multiple platforms; includes energy monitoring program, member organization platforms and any applicable databases/systems.

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Property Performance and Condition*

• Monitor of property performance and regularly measure property performance against benchmarks and watch list criteria.
• Monitor utility performance utilizing energy consumption tracking technology against target benchmarks, and for negative trending and consumption anomalies.
• Assist in creation of annual building operating budgets.
• Work with property management to limit expenses as able, and maximize project financial performance.
• Recognize performance and project issues as they arise; negative financial condition or trending, utility consumption outliers, adequacy of reserve funding, etc. Recommend and implement strategies to correct.
• Processing reserve transfer requests and long term reserve analysis.

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Refinances, Restructures, Retrofits, Rehabs and LIHTC Year 15 Transitions*

• Review portfolio for refinancing opportunities and strategies for pay off of expiring debt.
• Work directly with stakeholders and Finance Department on any modification/restructuring of project debt as necessary.
• Identify opportunities to retrofit building for energy efficiency upgrades; includes analysis of reserves, working to secure grant and financing opportunities, and monitoring/responding to Organizational energy efficiency goals.
• Early analysis and operational strategy for expiring Year 15 LIHTC deals. Work with Director of Asset Management to achieve favorable transaction terms. Work directly with Limited Partner, project funders and regulatory bodies to secure necessary approvals for acquisition of Limited Partner’s interest in the project.
• Work with appropriate parties, based on scale of project rehabilitation, to manage/coordinate rehab work; may include Housing Development, Facilities or General Contractor.

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Commercial Leasing*

• Work with Director of Asset Management on lease up of vacant commercial space. Work with Broker as necessary in marketing commercial space.
• Work with commercial tenant on lease renewals, extensions and other servicing requests.
• Collect commercial rent from appropriate Community Managers. Post rents into Property Management software. Review commercial ledger and resolve outstanding balances.
• Will be ongoing point person for communication with commercial tenants.
• Monitor leases for compliance to terms. Work with Director of Asset Management on resolution/enforcement of lease violations.

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Support for New Construction and Acquisition/Rehab Properties*

• Attendance and participation in development team meetings for new project acquisitions. Includes creation and execution of department-specific task lists.
• Expected to provide a sound owner perspective on how project elections at acquisition impact ongoing management and operations.
• Assist in setup and maintenance of entity registrations.
• Coordinate setup and operations for ongoing management at project stabilization.

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Ongoing Training and Skill Development*

• Expectation to attend trainings, as required, for updates to regulatory compliance and stake holder reporting.
• Encouraged to improve skill development through industry and member organization training and learning opportunities.
• Participate in ongoing efforts to reduce utility usage across the organization; will require some participation in broader greening efforts and increasingly technical components to utility consumption and monitoring efforts.

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Leadership, General Management & Board Governance*

• Organize and staff the semi-annual board meetings of the HUD sub-corporation board of directors.
• Maintain effective relationships with community and industry groups, including partners, investors, lenders and regulatory bodies.
• Facilitate communications and work flow with cross-departmental peers to meet owner obligations and ensure appropriate compliance and regulatory oversight of projects.
• May be asked to present on Asset Management related topics at REACH Board/Committee meetings, industry support meetings, sponsor and peer member organization conferences, or other.
• Ability to practice cultural humility when interacting with co-workers and clients of diverse ethnic, religious, political, and cultural backgrounds and sexual or gender identities, treating everyone with respect and dignity.

REACH employees are expected and required to behave in a courteous and collaborative manner in doing REACH business and dealing with other staff, residents, and all contacts inside and outside the organization. Profanity, derogatory and abusive language will not be tolerated.

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Knowledge, Skills and Abilities*

• Knowledge of public and private housing finance programs and related compliance requirements, including HUD, HOME, Section 8, IRS Section 42 and other programs.
• Excellent working knowledge of software programs Excel and Word; Access skills preferred.
• Experience with utility monitoring software and databases strongly preferred.
• Ability to provide financial analysis, cash flow projections and operating budgets for projects; strong understanding of operating pro formas.
• Ability to understand, and to seek explanation of, complex written regulations from various government agencies.
• Working experience with Limited Partnership agreements, loan documents, regulatory agreements other legal documents relating to affordable real estate transactions.
• Office 365 familiarity
• Strong analytical skills, as well as an understanding of accounting principles.
• Excellent verbal, written and interpersonal communication and organizational skills.
• Ability to work with wide range of entities and people, including government agencies and investors.
• Ability to organize efficiently and prioritize tasks appropriately.
• Ability to cope with deadline pressures.
• Ability to work in team environment.

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Scope & Accountability*

• Operates from established procedures. Decisions are made within established organization guidelines with occasional variation from the norm.
• Performs duties independently, but guidance and direction are available for unusual or critical situations.
• Position involves a moderate degree of complexity in dealing with recurring work situations. Work is verified on the basis of outcomes and results.

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Supervisory Responsibility*

• Position is not supervisory in nature.

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Education and/or Experience*

• Bachelor’s Degree in business, real estate development or related field preferred.
• Minimum 3 years of experience in asset management and/or related LIHTC/affordable experience.

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Work Environment and Physical Demands*
The work environment and physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to stand; walk; use hands and reach with hands and arms; and readily and effectively communicate. The employee must lift and/or move up to 25 pounds. Vision abilities required by this job include ability to effectively see within an office work environment, which may include long term computer exposure, and to adjust focus accordingly. There is some exposure to noise in the work environment, which is usually mild to moderate.

• Must have a valid driver’s license and valid liability insurance
• Requires use of personal vehicle
• May require periods of walking, standing, or working in confined spaces
• May require the need for frequent shifting of priorities and deadlines

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Disclaimer*
The above statements are intended to describe the general nature and level of work being performed by people in this role. They are not intended to be a complete list of all responsibilities, duties and skills required of staff in this role. All employees may be required to perform duties outside of their normal responsibilities from time-to-time, as needed. The job requirements are subject to change to reasonably accommodate qualified disabled individuals. REACH may modify or interpret this job description.

This job description is not an employment contract, implied or otherwise. REACH is an at-will employer; you retain the right to resign, with or without notice or cause. REACH reserves the same right in respect to termination.

Job Type: Full-time

Pay: $69,992.00 - $94,162.00 per year

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