Asset Manager

Summary Under the direction of the Director of Asset Management, the Asset Manager is responsible for maintaining a portfolio of assets owned and/or operated by the District of Columbia Housing Authority (DCHA) to ensure physical and financial well-being. The Asset Manager ensures compliance with financial regulations; oversees property operations through third-party management contractors; performs a wide variety of record-keeping, reconciliation, monitoring, reporting and financial support activities. The Asset Manager serves as a liaison regarding financing regulations and property operations with DCHA staff, vendors, contractors, and outside agencies while working independently, exercising judgment and initiative with only occasional instruction or assistance as new or unusual situations arise, and are fully aware of the operating procedures and policies of the work unit. This position plays a key role in supporting the Director of Asset Management to determine the appropriate operational and financing strategies of DCHA owned real estate and recommend actions, based on those strategies, to maximize DCHA and investor returns and values, while ensuring compliance with all regulatory and lender requirements. DCHA's portfolio includes approximately 7,922 public housing units across more than 72 multifamily communities and over 15 scattered site units, and various parcels of vacant land with a DCHA ownership interest. DCHA has a robust development pipeline and may pursue acquisition opportunities as may be necessary, to meet its mission. All activities must support the District of Columbia Housing Authority's strategic goals and objectives and produce results that accomplish the goals of the Office of Asset Management. Salary Range-$120,390 - $157,082Essential Duties and Responsibilities The below statements are intended to describe the general nature and scope of work being performed by this position. This is not a complete listing of all responsibilities, duties and/or skills required. Other duties may be assigned. •Oversees a portfolio of affordable housing properties and works with third party property management firms to ensure compliance with current Federal, District, DCHA and housing program regulations, guidelines and policies. •Applies extensive knowledge of risk management, asset management, real estate finance analysis, regulatory compliance and property management to implement policies and ensure adherence to regulatory requirements and partnership agreements applicable to the assets. •Establishes and maintains good working relationships with all DCHA investors, partners, lenders, funders and other external customers. Serves as primary point of contact for these entities and responds to or coordinates response to all requests after closing. •Oversees all reporting requirements to outside lenders, investors, partners and internal asset management/DCHA personnel. •Ensures compliance with all partnership, lending and regulatory agreements; including but not limited to, affordability requirements, reserve requirements, approvals and operational warranties documented in Management Plans, Regulatory and Operating Agreements, and Property Management agreements. •Oversees third party property management contracts to ensure assets are properly managed and maintained pursuant to the contractual agreements. •Ensures properties are being managed in compliance with all lender, investor, regulatory, state and local regulations and guidelines, and in adherence to the Property Management Agreement and Regulatory and Operating Agreement. •Works with staff to develop and implement a system of quality controls to ensure compliance with federal, state and local requirements regarding tenant eligibility, income recertification and file compliance. •Conducts regular site visits including unit and file inspections for compliance with site specific programs; coordinates and may attend compliance inspections with outside monitoring agencies as needed; notifies staff of pending inspections; and ensures sites are prepared for audit and responds to any questions or items sited during the inspection. •Works closely with DCHA Office of Property Management to help ensure the long term structural and financial feasibility of DCHA- managed properties. •Reviews and ensures compliance with contracts for property management and social services, including monitoring and managing key property indicators such as budget process, cash flow, net operating income (NOI), debt service coverage ratio (DSCR), occupancy and collections. •Develops and implements file, index, tracking, and record-keeping systems; researches records within areas of assigned responsibility to prepare reports and provides follow-up information to inquiries. •Ensures compliance to all Low-Income Housing Tax Credit (LIHTC) requirements, where applicable. •Prepare and present memos to approve budgets, audits and tax returns. •Works closely with the DCHA real estate development team to prepare pro forma financial statements and other supporting documents to support acquisition and/or repositioning of assets. •Reviews the financial structure and underwriting of all DCHA development projects in order to develop familiarity with the terms of each deal and make recommendations regarding the terms and conditions to ensure future workability. •Actively participates in acquisition and preservation efforts, including collection of due diligence, reviewing and analyzing historical operating and expense data, identifying solutions for capital needs and increased cash flow, and assisting in meeting transactional deadlines and milestones. •Assists with applications for funds; pursues new or alternate financing and other resources for project funding such as tax credits, multi-family bonds, grants, outside loans, property trades, subsidy repositioning (i.e. RAD, Section 18 and RAD/Section 18 Blend) etc.; ensures a viable financing plan is approved for each project. •Assists with execution of buy-out strategies and partnership exits. This could entail assisting with procurement of contracts (eg. appraisals) and reviewing partnership legal documents and purchase option contracts. •Assists development team with property lease-ups and smooth transition to stabilized operations. •Interprets, applies, and explains federal, state, and local laws and regulations, and policies, procedures, and practices of assigned position. •Organizes and prioritizes a variety of projects and multiple tasks in an effective and timely manner; organizes own work, sets priorities for self and others, and meets critical timelines/deadlines. •Uses tact, initiative, prudence, and independent judgment within general policy, procedural, and legal guidelines. •Establishes, maintains, and fosters positive and effective working relationships with those contacted in the course of work. •Prepares and presents complex items for review by DCHA leadership and DCHA Board of Commissioners. Qualifications To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions Job Competencies •In-depth knowledge and understanding of the mission, objectives and policies of the District of Columbia Housing Authority (DCHA) •Extensive knowledge and progressive hands-on working experience in the area of asset management, property management, local and federal housing programs, and/or housing development; •Extensive knowledge of financial management to include accounting month-end close and preparing owner's reports; •Strong working knowledge of financial underwriting and modeling to create/manipulate/review Pro Forma, budgets, cash flow analysis, and forecasting reports; •Ability to plan and implement activities to ensure long-term affordability and preservation of the residential assets; •Knowledge of government/public sector protocols and processes •High proficiency with common office software tools, such as spreadsheets, word processing and presentation tools (e.g. Excel, Word and PowerPoint, or the equivalent). •Demonstrated ability to learn and quickly develop facility with software commonly used in real estate and financial reporting, such as Yardi, MRI, RealPage, etc. •Has or is willing to obtain the Asset Management Specialist (AMS) designation from the Consortium for Housing and Asset Management (CHAM), or other similar certification. •Team leadership skills; •Experience working with the public, elected officials and government agencies; •Ability to manage multiple tasks simultaneously; •Strong written, verbal and presentation communication skills, and •Self-starter, detail-oriented, quick learner with strong analytical and problem-solving skills. Education and/or Experience A bachelor's degree from an accredited four-year college or university with major coursework in community development, business, economics, urban planning, civil engineering, architecture, or a related field and four (4) years of progressively responsible experience performing asset management, real estate development, property management, and/or construction management functions. Low Income Housing Tax Credit (LIHTC) experience is desirable. The equivalent combination of education and experience which meet the minimum qualifications requirement may be substituted. Technical Skills To perform this job successfully, an individual should have knowledge of personal computer and software such as (MS Word and MS Outlook); and must be able to learn other computer software programs as required by assigned tasks. Physical Demands The work requires no unusual physical demands. The 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 frequently required to sit and talk or listen. The employee is occasionally required to stand and walk. Work Environment The work is performed in the normal office setting, and in meeting and conference rooms. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Created: 2025-03-10