More +
Language

Asset Manager

Department: Blue Horizon Property Management, Inc.

Job Code 1169

Closing Date June 16, 2018

Back to Careers

Responsibilities
1. Maintaining in-depth familiarity with assigned portfolio of properties, including ownership structure; underwritten
investment objectives; financing structure (including maintenance of relationships with various lenders, as
needed); management structure (including maintenance of relationship with third-party management agents);
guarantor structure; underwritten and actual operating results; LIHTC, State Agency and/or HUD/RD-affiliated
regulatory requirements and compliance.

2. Oversight of portfolio performance by ongoing monitoring of the operational, financial, management, regulatory
compliance, and budgetary compliance for all assigned assets, continually comparing actual asset performance to
underwritten expectations.

3. Evaluation of economic, demographic, and multifamily market trends then benchmark such trends against the
assigned portfolio.

4. Performance of periodic on-site inspections to all properties within the assigned portfolio, focusing on physical
condition, local market conditions, overall property administration, and continuing program compliance.

5. Oversees, monitors, develops, and assists in implementing policies and procedures related to eligibility and
compliance with the requirements of a mixed residential portfolio including but not limited to Housing Authority
special programs, Low Income Housing Tax Credits and other affordable and/or market rate programs.

6. Work with internal and external partners in the implementation, review and approval of annual budget process.
Ensure budgets are prepared within established timeframes. Ensure that properties meet or outperform approved
operating budgets. Ensure that the asset’s plans maximize their value given market conditions. Determines
causes of variances and creates an action plan if necessary to insure the financial viability of the asset.

7. For Owned Assets: In conjunction with the property management team, prepare capital plan by property/unit
inspections and identifies the funding sources. Review and approve of RFPs and meets with third party contractors,
partners and managing agent. Facilitates in the construction oversight for all projects.

8. For Non-Owned Assets: Review capital expenditures to insure that assigned properties are maintained in first
class condition at reasonable costs and within budget limits. Assist Owners and property managers to prepare
and maintain a five-year capital expenditures projection for each property and review reserve for replacement
funding requirements necessary to accomplish the capital plan.

9. Completes monthly, quarterly, and annual physical property inspections for early identification of potential issues.
Prepares reports based on inspections, and takes any appropriate actions based on findings.

10. Assists with the review of any new Partnership Agreements, Regulatory & Operating Agreements, Management
Agreements, Loan Agreements, Applicable Contracts, and other Legal Documents; to insure compliance with
HUD, the Lenders, Investors, LIHTC and Housing Authority requirements for each property and take corrective
action with any noted discrepancies.

11. Maximize total return for each assigned asset through the analysis of property efficiencies and identifying
opportunities for improved performance.

12. Reviews and analyzes the financial and operational information and reports provided from the partnerships on a
monthly, quarterly and annual basis. Prepares informative reports on property performance; provides problem
resolution and corrective action strategies when necessary. Conducts analytical analysis (monthly) of the financial
performance of the real estate assets and provide recommendations of project performance and managerial
strategies to ensure the continuous flow of net operating income and cash flow.

13. Conducts short and long-term analysis on historical financials, projected operating cash flows, reserve needs and
cost benefit analysis on varying management decisions.

14. Acts as primary contact for internal and external stakeholders, partners, and investors Develops and maintains
relationships with General Partners, management agents, lenders, contractors, third-party monitors, investors, local
and state housing agencies, and others in the industry to ensure the flow of current and relevant information. Meets
with investors, third party agents and partners to discuss portfolio performance.

15. Responsible for the management and coordination of meetings for the cross functional teams, brought together to
develop new types of housing, which include legal counsel (internal and external), community partners and other
departments within the Housing Authority.

16. Conduct due diligence and analytical analysis of real estate assets and programs for potential investment
opportunities. Conducts financial modeling scenarios to determine ideal operational structure (i.e. unit mix, reserve
requirements and capital needs) and project feasibility and assist with the underwriting.

17. Participates in the closing process (for improved real property); reviews service contracts; reviews closing
statements to ensure accurate pro-rations; finalizes post-closing matters including final pro-rations. Determines how
to seamlessly integrate the potential asset into the Agency’s portfolio.

18. Responsible for mitigating issues that arise from the various active programs within the property portfolio. Includes
being the Agency contact for fielding and resolving resident complaints (on 3rd party managed sites). Addresses
requests to interpret certain language in agreements and/or State, Federal, and HUD regulations.

19. Maintains familiarity with regional and local economic and demographic trends within portfolio markets and
analyzes the results against industry benchmarks useful in evaluating asset and portfolio performance and value.

20. Responsible for continuing education to insure new laws, regulations, and HUD notices are properly addressed
and that a process of implementation is created when needed.

21. Responsible for the subsidy payment process and has final approval on all payments. Responsible for insuring the
correct calculation of annual reconciliations of the subsidy program and for payments based on the reconciliation.

22. Maintains filing system to insure vital documents are recorded and filed correctly for proper retrieval when
needed.

23. Reviews and approves invoices and insures proper billing based on agreements.

24. Foster teamwork with other CHA associates. Treat other CHA departments as asset management’s clients and
customers.

25. Work in a collaborative manner with regional property management teams. Review operations, procedures and
spending, assist in financial analysis.

26. Facilitate quarterly meetings with property managers, case managers, and CHA staff for assigned portfolio to
foster cooperative relationship, ascertain training, share programmatic updates, address effective processes, etc.

27. Performs other duties as assigned.

Education and Experience
Bachelor’s degree from an accredited college or university in Business Administration or closely related field with at least
three (3) years of progressively responsible experience in an area related to the position, such as Public or Assisted
Housing, real estate, or property management of an equivalent combination of education and experience sufficient to
perform the requirements of the position

The following certifications must be obtained within twelve (12) months of employment or other allowable period of hire
as authorized by the EVP of Real Estate Management:
* Fair Housing Certification
* IREM Certified Property Manager
* Public Housing Manager or Asset Management for Executives
* HCV Specialist or Developing and Managing Project-Based Vouchers
* Tax Credits – NCP, C3-P or equivalent

Knowledge and Skills
1. Ability to model complex transactions in various software programs.

2. Knowledge of HUD, LIHTC, city, state and Authority regulations, policies, and procedures.

3. Knowledge of real estate property management operations.

4. Knowledge of basic office procedures and practices, grammar, and business English.

5. Knowledge of Fair Housing, Equal Opportunity, and Nondiscrimination laws and regulations.

6. Ability to understand, interpret, explain and apply detailed and complex regulations, policies and procedures
governing the administration of assisted housing program.

7. Strong analytical skills and experienced in financial analysis (NPV, IRR, lease comparison, ROI, DCF modeling,
payback, analyzing financial statements, etc)

8. Advanced verbal and written communication skills and the ability to present effectively to both small and large
groups.

9. Ability to determine, calculate, tabulate, or summarize data/information and includes performing subsequent
actions in relation to these computational operations.

10. Ability to establish priorities in workload and to assure continuity of workflow.

11. Self motivated and proactive with the ability to work both independently and as a team player

12. Strong work ethics and commitment to meeting aggressive deadlines, handle multiple projects, set priorities, think
creatively and bring fresh ideas to the team.

13. Ability to establish and maintain effective working relationships with co-workers and persons outside the Authority.

14. Ability to prepare clear and concise narrative and statistical reports and deal effectively with situations requiring
tact and diplomacy, yet firmness.

15. Considerable skills in operating appropriate Authority computer equipment, applicable software, and general
office machines.

16. Ability to be covered under the Authority’s fidelity bond.

Supervision Controls
The employee receives broad instructions from the Senior Asset Manager and Property & Asset Management Director.
The employee initiates and follows through on activities without supervisory direction. Deadlines, priorities, and objectives
are developed by the employee or in consultation with the supervisor depending on the assignment and/or project.
Problems or situations not covered by instructions are either dealt with independently or in consultation with the
supervisor. The employee produces reports on demand detailing activities completed, progress, obstacles, and expected
completion dates. The employee’s work is spot-checked for progress and finished work is reviewed for attainment of
objectives and compliance with policies and procedures. The employee has no supervisory duties.

Guidelines
Guidelines followed by the Asset Manager include traditional practices, established policies and procedures, applicable
reference materials, published laws, regulations, and handbooks. Materials used vary with the issues involved, and
independent research is necessary depending on the activity and/or program requirements. Exercise of sound judgment
is necessary to ensure appropriate and equitable application of guidelines.

Complexity
Most of the work performed by the employee is complex and varies from issue to issue. The employee identifies work
that needs to be done, prioritizes, coordinates efforts, and performs the tasks. The employee makes decisions regarding
unusual circumstances, conflicting data and non-routine circumstances on a consistent basis. The employee adapts
procedures or develops new approaches to the work within area of expertise and/or consults with the Senior Asset
Manager or other appropriate executive staff when necessary or appropriate. Difficulty may arise in updating program
policies and procedures as a result of frequent changes in relevant regulations and guidelines.

Scope and Effect
As a representative of the Housing Authority the employee's work affects the entire organization its assets, associated
programs, and residents. Successful accomplishment of tasks by the employee will protect the assets of the Housing
Authority and will enhance the Housing Authority's ability to maintain quality standards in all aspects of its operations
which will insure continued achievement of its goal of providing decent, safe, and sanitary housing.

Personal Contacts
Most of the Asset Manager’s contacts are with Authority employees, 3rd party management employees, investor
representitives, partners, applicants, residents, and personell in other agencies/or organizations.. Contact is made to
develop working relationships, obtain information, make decisions, resolve problems, and provide services or asistance
for conflict resolution. Degree of cooperation is largely dependent upon individual characteristics and/or viewpoints.

Physical Requirements
1. Work is principally sedentary, but may involve some physical exertion, such as kneeling, crouching, lifting to
obtain relatively heavy files and records, and eyestrain from working with computers and other office equipment.

2. Must be able to sit and/or stand for up to eight hours at a time while preforming work duties.

3. Must be able to bend, stoop, push, and pull in the performance of office-related duties.

4. Must be able to use fingers bilaterally and unilaterally to operate office equipment.

5. Must have vision and hearing corrected to be able to perform essential job functions.

6. Must be able to perform essential job functions in an environment that will sometimes include increased levels of
work-related stress.

7. Must maintain punctuality and attendance as scheduled.

8. An employee may request a reasonable accommodation to mitigate any of the physical requirements listed
above.

Work Environment
Work involves the normal risks or discomfort associated with an office environment and is usually in an area that is
adequately cooled, heated, lighted, and ventilated.
Other Requirements

Must possess a valid State of North Carolina or South Carolina driver’s license and regularly participate in continuous
improvement and education. Must work with the highest degree of confidentiality.

Related Downloads

View All

Key Contacts

Employee Directory

Join Our Newsletter

Thanks for signing up!