Senior Asset Manager

Job Summary: The Senior Asset Manager will join CCDC’s Asset Management team to promote and preserve the financial and fiscal health of the organization’s substantial and diverse affordable housing portfolio. CCDC builds housing and community, and our organizing and activism around the well-being of low-income residents city wide informs everything we do – including asset management. The Senior Asset Manager will participate in the development of policies that reflect this integration.

The Senior Asset Manager primary responsibilities are for financial, physical, regulatory and administrative oversight of a group of buildings within CCDC’s portfolio as well as discreet projects across the portfolio. For properties that are trending downward financially, the Senior Asset Manager will develop recommendations for how to turn the property around.

The Senior Asset Manager will maintain excellent relations with CCDC’s lenders and partners and provide timely and accurate reports. Internal relations will also be important, as this position works very closely with CCDC’s Housing Development, Property Management, and Fiscal departments.

Status: Full-time, Exempt, Regular
Location: Chinatown Neighborhood, San Francisco
Hours: Monday through Friday; general business hours some nights and weekend
Salary: $123,500 - $130,000 annually; Comprehensive benefits
Schedule: Weekly Schedule. Hybrid (1-2 days remote).

Job Responsibilities:

The Sr. Asset Manager may participate, assist or lead in the following areas:

Financial Well-Being:

• Monitor, analysis & evaluate financial proformas of projects in development and/or rehab through perm conversion for internal and external reporting
• Budget analysis & evaluation to of projects in development and/or rehab to ensure specific properties are meeting affordability, operating expense per unit, & reserve funding
• Monitor the current and long-term financial status of CCDC projects by reviewing budget variance reports and audited financial statements, and by preparing long-term operating cash flow projections.
• Propose solutions & develop workout plans to structural deficits and analysis disposition of annual surplus/deficits for assigned portfolio.
• Produce, analysis and evaluate Monthly Portfolio Dashboard, Annual Asset Management Plan, and ad-hoc/ extemporaneous reports
• Budget administration and coordination of the portfolio annual budget process.
• Subsidy Contract Administration and analysis, this includes annual renewals, and RCS reporting
• Monitor welfare tax exemptions on across the portfolio and their respective ownership entities, this includes tracking property tax bills and resolving property tax billing issues.
• Insurance administration claims coordination and coordination of annual policies renewals.
• Work closely to support or oversee non-CCDC operated assets in conjunction with third party property management teams.

Physical Well-Being:

• Monitor physical condition of CCDC properties through periodic inspections; recommend capital improvements and/or specific maintenance enhancements where needed.
• Assist Property Management in the coordination of capital needs analyses, participate in evaluation inspections, obtain verification and agreement on the content of the report.
• Assist in capital project planning for assigned portfolio
• When repairs or rehabilitation require the participation of CCDC’s Housing Development Department, work closely with the assigned Project Manager to develop plans for scope of work and financing, and to ensure a successful project.

Regulatory Administration for group of buildings within CCDC property portfolio:

• Responsible for the documentation for each property is complete and well-organized, especially during predevelopment and at final loan closings.
• Development of the most restrictive analyses of over-lapping regulatory restrictions and requirements.
• Preparation or maintenance of deal books that summarize the details of a project’s structure and obligations.
• Manage financial regulatory administration, including but not limited to, loan closings, annual contract rent increases, loan renewals, renegotiations, limited partner buyouts, and other end of contract term matters.

Responsibilities Furthering Specific Owner Goals:

• Manage the departments Asset Management Plan production.
• Monitor Owner’s main objectives are adequately expressed in Property Management policies plans and procedures.
• Work collaboratively to create and refine reporting procedures, database, and other informational systems to collect data, track projects, enhance communication, and provide needed information to management and Board of Directors.
• Coordinate with CCDC development staff to create initial operating budgets and update the operating budget through the development process so that the project achieve Asset Management goals of long-term financial stability, cost efficiency and well-maintained physical plant.
• Work with Housing Development and Fiscal departments to identify opportunities for rehab and re-syndication of existing projects.
• Recommend for approval management plans and management agreements and other property management contracts with respect to accomplishment of owner’s asset management goals.
• Perform and coordinate risk assessments and risk management related to position’s portfolio. Perform other related duties as required.

Team Leadership and Mentorship:

• Serve as a role model and resource for Asset Management team members by demonstrating sound judgment, accountability, collaboration, and high-quality work.
• Mentor and support less-experienced Asset Management staff by sharing technical knowledge, providing constructive guidance, and helping them develop their analytical, organizational, and professional skills.
• Promote consistent asset management practices across the team by sharing tools, lessons learned, and effective approaches to portfolio oversight.
• Provide peer review and informal coaching on financial analyses, reports, recommendations, and other work products, as requested.
• Contribute to a collaborative team environment in which staff are encouraged to ask questions, exchange knowledge, and continuously improve.

Other:

• Embody organization values (respect & compassion, empowerment, teamwork) to a safe and pleasant work environment
• Follow policies, procedures, and safe work practices
• Other duties as assigned

Business Contacts (Internal & External):

• Deputy Director
• Director of Asset Management and Asset Management Department staff
• Director and staff of Housing Development Department
• Chief Financial Officer and Fiscal Department staff
• Director and staff of Property Management Department
• Resident Services
• Investors
• Governmental entities
• Lenders
• Vendors
• Third Party Property Management
• Insurance Broker

Knowledge, Skills, and Experience

• Dependability, initiative, and follow-through with a high attention to detail and effective prioritization skills
• Strong computer and math skills including proficiency with Microsoft Excel
• Ability to work with time sensitive material and meet multiple deadlines
• Excellent writing and communication skills
• Work collaboratively with people in other departments and skill levels
• Demonstrated ability to mentor colleagues, share technical knowledge, provide constructive feedback, and contribute to the professional development of less-experienced staff.
• Engage diplomatically and effectively with lenders and regulators
• Ability to work with, and sensitivity to, a diverse, low-income, multi-ethnic population.

Education and Experience (Minimum Qualifications):

• Five (5) years of experience in asset management with significant experience in the moderate to low-income housing field
• Four-year college degree
• Intermediate knowledge of MS Word and MS Excel or comparable word processing or spread sheet programs.
• Two years of experience, or partial experience, in quantitative analysis.

Preferred Qualifications

• Graduate Degree and/or additional financial or property management experience
• Familiarity and effectiveness with fiscal, physical/maintenance, regulatory, and tenant relations aspects of property management
• Familiarity with MOHCD, HCD, HUD, Tax Credit programs
• CPM, NAHP, CHAM or other certification related to housing development, property or asset management

EQUAL OPPORTUNITY EMPLOYER

Chinatown Community Development Center (CCDC) is an equal opportunity employer. We are committed to building a diverse and inclusive workplace and do not discriminate on the basis of race (includes hairstyle and hair texture), color, religion (includes dress and grooming practices), age, sex (including pregnancy, childbirth, breastfeeding or related medical condition and reproductive health decision making), national origin (includes language restrictions), ancestry, citizenship, disability, medical condition (cancer or genetic characteristic), genetic information or characteristic, marital status, sexual orientation, gender identity or expression, veteran or military status, or participation in an EEO protected activity or any other characteristic protected by federal, state, or local law.

Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.

SAN FRANCISCO FAIR CHANCE ORDINANCE

All final candidates will undergo a background check. For certain positions this will include a fingerprint check. Qualified applicants with criminal histories will be considered for employment in accordance with the San Francisco Fair Chance Ordinance.