Asset Manager (Hybrid/remote)

Overview: Full-time position s tarting at $ 81,900 /Yr (D.O.E) with COMPETITIVE BENEFITS INCLUDE:

• Medical, Dental, Vision, Life Insurance and Long-Term Disability
• Health Savings Account and Flexible Spending Account
• Generous PTO, paid sick time, 15 days of paid vacations, 13 days of paid holidays, plus a personal holiday
• CCS/CHS 403(b) Employee Saving Plan
• Employee assistance program
• Lots of room for advancement

Agency Description Catholic Housing Services believes everyone deserves the right to a safe, affordable place to call home. Inspired by this vision, CHS develops, owns and manages affordable housing programs for low-income families and individuals; currently including 2,100 units of housing in 50 different buildings across Western Washington. We provide supportive services for people who have experienced homelessness, low-income seniors, farm worker families, and those who have special physical and mental needs.
CHS has significant investment in real estate assets that are the foundation of providing stability to individuals in many walks of life. These assets are typically committed to serve their respective communities for a minimum of 40 years. Under the supervision and support of the Director of Asset Management, the Asset Manager works to ensure the integrity of CHS’ physical assets (housing and commercial facilities) and to maximize both the financial and social returns from these assets in accordance with CHS’ mission, vision, policies and objectives. The Asset Manager will apply technical and financial judgement and sound management practices in logistically sustaining the assets over the lifetime of their commitments under the guidance of the Director of Asset Management
Position Description The Asset Manager will be a key support position to the Director of Asset Management in effectively managing the assets. The areas of responsibility include:

• Continual improvement and development of internal processes for managing the assets that focus in logistical support over the asset lifecycle
• In collaboration with Director of Asset Management, develop and implement systemic framework for training and development of staff , in understanding and managing the physical asset
• Effectively manage relationships and communication between top management, asset management, operations and maintenance.
• Apply technical and financial judgement and sound management practices in logistically sustaining the assets over the lifetime of their commitments
• Enter monthly financial data into asset and property management dashboards
• Provide knowledge and input into process of budgeting for capital and operating costs over the whole asset lifecycle
• Analyze property financials and performance metrics in pursuit of maximizing revenue and minimizing expenses
• Provide recommendations and implement changes for property improvements based on thorough analysis and experience
• Develop resources and tools to assist staff in case statements for CAPEX projects
• Awareness and management of regulatory compliance
• Manage and negotiate all housing assistance payment contract renewals; ensure organizational compliance with those contracts through internal processes and training
• Maintain accuracy of the Asset database in relation to the age, physical condition, and financial health of the physical assets
• Provide management support in preparing and responding to HUD REAC and MOR inspections
• Develop project plans and responses for REAC and MOR inspection reports and conduct follow-up activities
• Provide transactional support to Director of Asset Management in carrying out Asset Preservation Plans for the entire portfolio

Responsibilities: ASSET MANAGEMENT

• Provide asset management for all CHS owned properties and managed properties.
• Prepare narratives and financials for investor reporting (review of financial data, variance explanations, compliance reporting, audits, etc.)
• Assist in the development and monitoring of strategies to maximize asset values within the portfolio
• Coordinate with Director of Facilities and Property Management in planning and implementing capital improvement projects in accordance with CHS’ Asset Preservation Plans
• In collaboration with Director of Facilities and Director of Property Management monitor Preventative Maintenance Plans and ensure timely execution and documentation of plans at each property
• Update annual property plans and monitor progress throughout the year; assuring compliance with annual property plans and documenting any variances from those plans
• Input key data into asset management dashboards for financial monitoring
• Evaluate capital need projections and replacement reserve forecasts to ensure forward planning in addressing any deficit in reserves
• In collaboration with Director of Asset Management, develop policy and procedures that support the assets throughout their lifecycle
• Document, track and submit all replacement reserve, residual receipts and Operating Reserve requests; update database with needs assessments with actual costs and uses of replacement reserves; monitor replacement reserve levels
• Develop CAPEX case statements which evaluate the economic life of the assets and provide relevant information in planning for replacements
• Collect, analyze, and create relevant operating, financial & Proforma reports, regulatory compliance reports, and formation documents (partnership agreements, loan documents, regulatory and operating agreements)

PROPERTY MANAGEMENT

• Conduct formal property inspections and prepare inspection reports to monitor condition of property and major systems. Assist in responding to findings and make recommendations to improve future results.
• Participate in annual budgeting process, as requested, prepare relevant schedules related to rent revenue and repair and maintenance expenses.

• Respond to calls and concerns from the property management team, maintenance staff, tenants, neighbors and other concerned parties.
• Problem solve property and portfolio level issues through research, analysis and implementation Bring Asset Management perspective into communications with internal staff and external parties to achieve property goals.

OTHER LEADERSHIP

• Participate on special task forces and committees and provide expertise related to asset management
• Attend monthly property management team meetings
• Mentor property management staff related to HUD and/or Tax Credit regulatory and compliance
• Represent CHS in advocacy efforts with public funders regarding policies, funding priorities, and other issues relevant to affordable housing
• Represent CHS to the communities we serve by participating in industry and professional organizations as appropriate.

OTHER

• Maintain regular, scheduled office hours.
• Develop and maintain partnerships with organizations or agencies to support low-income housing.
• Perform other duties as assigned.

Physical And Mental Acuity Requirements The requirements 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.

• Able to make independent decisions and apply sound judgment in performing job duties.
• Able to hear telephone rings, face-to-face and phone conversation, and emergency alarms.
• Able to speak clearly in person and on the telephone.
• Able to handwrite legibly.
• Able to read normal size print and handwritten notes.
• Mobility/dexterity of hands/arms to enable keying into a unit or other locked area, as well as using a computer and other office equipment.
• Regularly able to perform duties as assigned.
• General office working environment with focus on operational and reporting tasks. Must provide leadership through visibility and interaction with staff at all levels of the organization. Must be able to drive to properties and conduct site visits, work cross departmentally within the organization and interact with all levels of corporate and property staff.

Qualifications:

• Minimum of two years of asset management, property management, finance or real estate experience in affordable housing with regulatory restrictions or rent subsidies.
• Ability to communicate effectively both orally and in writing.
• Highly organized, able to manage multiple priorities and time.
• Experience working with ethnically and economically diverse people.
• Technical knowledge of the affordable housing industry
• Strong computer literacy including fluency with Microsoft Office (Excel, Word, Outlook, Office 365 and PowerPoint) and ability to learn Property Management Software.
• Desire to multi-task in a complex, high-volume environment and competency to work with all levels of management and personnel on critical projects
• Requires current driver’s license, auto insurance, or access to reliable transportation to be able to visit sites occasionally and in case of emergencies. (Mileage reimbursement provided)
• Commitment to working within the mission, goals and values of Catholic Community Services/ Catholic Housing Services.
• Willingness to travel.
• Knowledge of and commitment to the principles of best practices in affordable housing.

Preferred Qualifications

• Knowledge of federal, state and local housing programs (Section 8, HUD, LIHTC, HOME, Housing Choice Vouchers, CDBG).
• Knowledge of multifamily real estate operations; property management; marketing; leasing; budgeting; finance reporting and compliance with financing covenants or regulatory agreements.
• Excellent MS Excel skills
• Experience in analyzing complex financial statements of for-profit and nonprofit organizations and their real estate operations
• Keen analytical skills and proven ability to readily recognize, investigate, interpret, and communicate warning signs of potential problems.