Asset Management Analyst

POSITION : Asset Management Analyst

COMPENSATION : $75,000 to 95,000 / Year DOE

BENEFITS : Health, dental, vision, FSA, EAP, life insurance (LTD), 401(K), paid sick, vacation and holidays.

Charities Housing's mission is to develop, own and manage the highest quality affordable housing for extremely low and very low-income individuals, families, and those in our community with special needs. For nearly 30 years, through service enhanced property management and structured resident involvement, Charities Housing has fostered and supported the highest standards of human dignity in our communities. The culture at Charities embraces a respectful, diverse, and empowered environment. We value a healthy work-life balance and encourage everyone to speak up and step up. Growth, mentorship, and training are priorities for our teammates. We like to think outside the box and keep our entrepreneurial spirit alive and strong as the company continues to grow. We believe in working hard, but also having fun along the way and celebrating our accomplishments.

This position offers a 4% of annual salary sign-on bonus for new hires!

DESCRIPTION OF POSITION : Under the supervision of the Director of Asset Management, the Asset Management Analyst will perform professional, technical and administrative support duties for day-to-day Asset Management functions at Charities Housing (Agency); assists the Director of Asset Management in reviewing financial performance of affordable housing portfolio developed / managed by the Agency and its affiliates; follows -up on areas identified as causes for nonperforming issues and tracks outcomes of solutions proposed to improve financial performance of trouble properties; conducts ad hoc data analysis needed for other operational / developmental decisions; coordinates with due diligence items required at each key milestone of new LIHTC project (Tax Credit application, construction closing and perm conversion, 1st year audit, year 15 buy-out etc.). This position is also responsible for preparing and submitting certain compliance reports, including annual operating budgets and schedule of rental income required by State and Local regulating agencies

PREREQUISITES :

Experience : Must have prior experience with affordable housing financial data review, ability to demonstrate strong analytical background and problem-solving skills. Knowledge of IRS Tax Credit rules, CTCAC Regulations as well as U.S. GAAP are preferred.

Ability : Must show ability to be a quick learner, self-motivated and detail- oriented and enjoy working with others.

Organization : Must be well organized and have the ability to prioritize duties and responsibilities, ability to multitask, and deal effectively and professionally with people and work in a fast-paced office environment.

MINIMUM QUALIFICATIONS : Education : Bachelor's degree with coursework in finance, accounting, economics, business administration or related subjects preferred.

Experience : Minimum two years' experience in affordable housing asset or property management, compliance, risk management, LIHTC housing project auditing or accounting; or any equivalent combination of education, training, and experience, which provides the requisite knowledge, skills, and abilities for this job.

SUPERVISION RECEIVED : Receives direct supervision from the Director of Asset Management and may receive directions from higher level positions. ESSENTIAL JOB FUNCTIONS : The following duties are normal for this position, but this list is not to be deemed all-encompassing. Other duties may be required and assigned.

• Assist Development Team with property transition to stabilized operations, including submitting monthly financials and occupancy reporting package, addressing stakeholders' insurance deficiency inquiries, connecting portfolio team of stakeholders with Agency's accounting and compliance team to ensure smooth transition .
• Gather and file key final legal documents executed at each stage of the affordable housing development life-cycle onto the Perm File network drive; review and abstract major tickler items of each LIHTC deal into a matrix.
• Track partnership capital balances to assist with exercising purchase option at the appropriate time.
• Assist Director of Asset Management with preparation of audit schedules and review of draft audits / tax returns.
• Assist with preparing and submitting certain compliance reports, be available for questions / information as it pertains to investor / lender guidelines.
• Apply for initial state and local welfare exemptions, respond to welfare exemption and property tax related inquiries from other departments, resolve identified issues and provide final updates and / or recommendations
• Assist the Director of Property Management and Director of Asset Management in the monitoring of third-party property management company' policies and practices, including site visits, monthly financial reviews, annual audit preparation and review, maintains direct communication and meets quarterly to discuss issues and concerns.
• Develop replacement reserve analysis based on capital needs assessment to help with capital budget and cash management decision; track status of capital projects to ensure proper pre-approval obtained and replacement reserve requests submitted on time.
• Understand the restrictions of reserve funds held at each partnership level, compile and submit reserve withdrawal requests, take the ownership of following through on each draw request until final approvals are obtained, communicate approved withdrawal details to accounting for funding release
• Monitor financial performance of assigned portfolio, understand surplus cash / waterfall rules, conduct cash-flow analysis and year-end net cash flow forecast, make appropriate decision on distribution of excess working capital
• Review property level cash balances periodically, make proper investment decision of excessive funds to ensure optimal mix of risk and return
• Participate in the development of annual property operating budgets and planning for capital needs; prepares and submits annual operating budgets in specified format required by State and Local regulating agencies.
• Assist Director of Asset Management with developing and updating asset management dashboard; conduct departmental, organizational and operational studies, research, and investigations as needed; participate in the development and implementation of property management policies and financing work-out strategies for watchlist properties, recommend modifications to programs, policies, and procedures as appropriate.
• Perform ad hoc financial data analysis to help evaluate cost benefits of operational / developmental decisions
• Assist with other special projects as requested by Asset Management team, Development team, Finance team and Compliance team.

PHYSICAL REQUIREMENTS :

The above intends to describe the general nature and level of work being performed by people assigned to this job. It is not intended to include all duties and responsibilities. The order in which duties and responsibilities are listed is not significant.

Charities Housing is an equal opportunity employer. Qualified applicants are considered for employment without regard to age, race, color, religion, sex, national origin, sexual orientation, gender identity, disability, or veteran status, or any other classification protected by state or federal law. If you need assistance or a reasonable accommodation during the application process because of a disability, it is available upon request. Charities Housing is pleased to provide such assistance, and no applicant will be penalized as a result of such a request.

We are looking to make an immediate hire to handle upcoming property lease ups. This position will remain open until it has been filled. If we receive resumes from qualified candidates, we reserve the right to start the hiring process at any time.

Principals only. No calls please. We will only respond to those persons who are deemed qualified at the sole discretion of Charities Housing. For more information about Charities Housing, please visit our website www.charitieshousing.org.

No relocation benefits will be provided.

Salary : $75,000 - $95,000