Senior Asset Manager

JOB DESCRIPTION SENIOR ASSET MANAGER Salary Range: $105,000 - $115,000 Annually Hybrid Telework Eligible After 3 MonthsWHO WE AREHomeRise believes that home has the power to stabilize a person's life. Built on a simple - but powerful idea called supportive housing, we provide people experiencing homelessness with a place to call home combined with support services, like mental health services and job training, so they can rise up and transform their lives. We organize our residents and supporters to advocate for local and state policies, like permanent supportive housing, to help people still on the streets or at risk of homelessness. Together, we're building a new future for our neighborhoods and the city we love.BENEFITSHomeRise provides an excellent comprehensive benefits package including: 100% employer-paid employee healthcare options (Kaiser or Sutter), dental, vision, life & disability insurance; FSA for childcare, medical and commuter expenses; a 403(b) retirement investment plan with employer match; Employee Assistance Program; paid on-the-job training, career advancement within a growing organization and professional development opportunities with an annual Education Benefit that includes paid time off. We also include PTO (2 weeks accrued for the first 12 months and 3 weeks accrual from 13-36 months of continuous service); 14 paid holidays with one floating day for your birthday and of course sick time accrual. Other advantages of working for us are: Employee Referral Program, our HERO Award recognizing outstanding performance in the line of duty, and sabbatical leave after 5 years of service.POSITION OVERVIEWThe Senior Asset Manager is responsible for leading the development and execution of strategies to preserve and enhance the value, performance, and condition of permanent supportive housing properties. This role ensures compliance with federal, state, and local regulations while meeting or exceeding asset performance targets. The ideal candidate will have a strong background in multi-family housing property management and advanced financial reporting and analysis expertise. The Senior Asset Manager will foster proactive communication and collaboration with Internal Partners, including executive leadership, team leaders, finance, accounting, and other program areas. This position oversees key areas such as Budgeting & Financial Reporting, Operations Oversight, Acquisitions & New Construction Support, Capital Improvements & Reserve Draw Administration, Relationship Management, Year 15 Buyout Planning, and the development and implementation of Operating Policies, Procedures, and Staff Training.ESSENTIAL FUNCTIONS Asset Management Portfolio Oversight: Responsible for a portfolio of approximately 16 multi-family properties. Provide long-term strategic oversight and guidance on operations for each property in assigned portfolio. Serve as primary Asset Management contact for external partners, i.e., lenders, syndicators, tax credit allocators, third-party inspection companies, HUD, co-GPs, etc.Monitoring: Monitor the portfolio's financial and operational performance; communicate any potential operational risk to management. Act as point person for site inspections related to occupancy and compliance requirements, i.e., federal, state, and local agencies. Work closely with Housing Operations staff to complete pre-visit checklists or questionnaires, as needed.Financial Reporting Reporting: Review and oversight of periodic investor reporting, quarterly asset management reports, distributions and monitoring of cash and reserve utilization.Budgeting: Benchmark property operating including, but not limited to, net operating income, gross revenue, operating expenses, investment projections, return of investment, cash flow and distribution analysis.Forecasting & Benchmarking: Evaluation of market trends, forecasting cash flow and benchmarking these trends against the portfolio.Variance Analysis: Oversee the collaborative efforts with the Finance and Housing Operations property management teams to analyze variances in operating performance against industry benchmarks. Develops and presents solutions to structural deficits and disposition of annual surplus/deficits.Document Management: Organize and file ownership, loan, and regulatory agreement amendments and periodic reporting sent to investors or reporting agencies in a timely manner.Acquisitions, New Construction, & Financing Acquisitions: Review budget and proposed impacts to operating expenses for property acquisitions. Work with Real Estate Development staff to provide input on any potential operational risk.New Construction: Communicate and follow-up on expectations with other cross-functional teams that include the evaluation of properties for development, property management, lease-up, construction management, risk management, welfare exemption filings, and accounting.Financing: Lead in loan restructuring requests with support from the Real Estate Development and Finance Department teams.Capital Improvements & Reserve Draws Administration Capital Improvements: Establish long-term capital needs plans and preventative maintenance plans with Property Management teams.Reserve Draws Administration: Coordinate with Maintenance Operations Managers, Housing Operations Supervisor, and Staff Accountants on pre-approvals for budgeted long-term capital plan improvements.Operations Oversight Program Compliance: Ensurea high standard of compliance across portfolio, i.e., LIHTC and all federal, state, and local compliance-related regulations. Where deficiencies are identified, works directly with appropriate parties to timely resolve issues.Portfolio Performance: Analyze portfolio and develop economic strategies that mitigate underlying risks, assign risk-ratings and prepare watch-list report narratives including the identification and analysis of under-performing assets, hurdles in cash flow, rental vacancy rate, delinquency losses, debt service, and NOI. Create and monitor action plans working closely with Housing Operations.Relationship Management External Partner Engagement: Build relationships with local partners including City and State staff, lenders, investors, and the general public in a professional manner.Internal Partner Engagement: Develop positive working relationships with Internal Partners from other teams through collaboration, proactive communication, and empathy.Year 15 Buyout Planning Low-Income Housing Tax Credits: Deliver low-income housing tax credits to limited partner investors, repay any deferred developer fees, and plan for the exit of investor limited partners for low-income housing tax credit assets at Year 15.Tax Capital Accounts: Monitor changes in general partner and investor limited partner tax capital accounts for potential exit taxes and cash distribution at dissolution of the limited partnership.Purchase Option/ROFR: Review legal agreements, understand rights with those agreements in consultation with third-party consultants or legal counsel to purchase the limited partner interests or property from investors within the purchase option or right of first refusal (ROFR) period.Tax-Credit/RAD Portfolio:Represent HomeRise's operational interests in joint venture partnerships, ensuring compliance with tax credit and RAD regulatory requirements.Oversee the annual budgeting process for tax credit and RAD properties, conducting regular financial assessments with joint venture partners.Coordinate with property management teams to optimize operational efficiency and ensure alignment with long-term objectives.Conduct site visits and inspections to assess the condition of properties and ensure they meet regulatory and operational standards.QUALIFICATIONSMinimum of five (5) years of professional experience in multi-family compliance and/or multi-family real estate asset management, property management, finance, or related field; OR, three to five years of experience working with a developer."of professional experience in multi-family compliance and/or multi-family real estate asset management, property management, finance, or related field; OR, three to five years of experience working with a developer specializing in tax credit properties.Undergraduate degree or equivalent supportive housing industry experience and/or certifications.Ability to utilize spreadsheet tools and word processing to analyze and communicate information.Supervisory experience with strong skills in program development and policy and procedures.Strong organizational, detail-orientated, and time-management skills.Proven ability to work independently, and effectively as an individual and part of a team.Ability to meet the geographic range of the position.Strong ability to represent the agency's interests, interact effectively with a diverse population, and be comfortable building successful collaborative relationships with tenants, staff, and community and resource building.Strong understanding and belief in Housing First Philosophies.Additional duties as assignedPOSITION DETAIL Location: 251 Post Street, Suite 200 San Francisco, CACurrently 5 days in officeStatus: Full-Time / ExemptSchedule: Generally, Monday through Friday 9 am - 5 pmReports to: Chief Financial Officer

Created: 2025-01-07