What are the responsibilities and job description for the TDHCA - Associate Asset Manager position at TEXAS DEPT OF HOUSING AND COMMUNITY AFFAIRS?
Multifamily Asset Management Division
GENERAL DESCRIPTION:
Entry level Asset Manager for multifamily housing properties.
Performs moderately complex consultative services and technical assistance work overseeing the construction, lease up, and ongoing operations of properties funded through the Department’s multifamily housing programs. This includes but is not limited to the equity provided through the Low Income Housing Tax Credit Program and its related programs, the Department’s Direct Loan funds including, but not limited to, the HOME program, the Neighborhood Stabilization Program, the State of Texas Housing Trust Fund program, and the National Housing Trust Fund program. The employee in this position may be assigned a portfolio of up to 300 properties and will directly assist in overseeing a portfolio of 600-1000 multifamily properties to identify, monitor, and mitigate the Department’s risk of failure to deliver the required affordability and/or repayment of funds. The work involves communicating with owners, buyers, other Department divisions, investors, lenders, governmental agencies, community organizations, and service vendors and responding within prescribed timeframes to their requests; planning, developing, prioritizing, and carrying out action plans for each development; representing the Department’s interests in negotiating and implementing resolutions; collaborating on more complex workout with senior management; and preparing and presenting information as needed. The position will work under the general supervision of senior management with moderate latitude for the use of initiative and independent judgment.
SPECIFIC JOB RESPONSIBILITIES:
- Develop operators/owners understanding of and enforce the requirements of funding from the Department’s multifamily housing programs.
- Energetically absorb, evaluate, and apply information acquired.
- Assists with and/or performs the preparation of reports including financial statement analysis, action plans, et al. to ensure that properties are constructed timely, within budget, and operated effectively.
- Perform desk reviews to manage, develop, oversee, and evaluate assigned projects utilizing accepted project management methodologies including using internal and external databases, third party reports and hands on investigation.
- With the assistance of the Legal Division, ensure the timely creation, execution, and as necessary, amendment of the Department’s loan and regulatory agreements to achieve compliance with the Department’s rules.
- Collaborate with senior management on the formation and long term implementation of resolutions for troubled assets.
- Evaluate, report, and ensure repayment cash flow loans as assigned.
- Receive, evaluate, and process approval or denial of 10% Tests, amendments, ownership transfers, satisfaction of Right of First Refusal, and Qualified Contracts for assigned portfolio of Housing Tax Credit developments in a timely manner.
- Complete the evaluation of final cost certification for assigned Housing Tax Credit developments and ensure that IRS Forms 8609 are issued in a timely manner by managing the pipeline of anticipated activity and proactively working with development owners and investors for timely submission of documentation.
- Develop schedules, priorities, and standards for achieving portfolio and division goals; evaluating Department activities; and coordinating program activities within other work units in the agency and external organizations.
- Provide technical assistance to other TDHCA personnel and the public.
- Remain abreast of the relevant technical developments related to asset management activities.
- Perform other related work as assigned.
- Must be able to travel when needed (<10%).
EDUCATION/EXPERIENCE:
- Must have education or experience in math, financial analysis, real estate development, business or a related field.
- Graduation from an accredited four-year college or university with major course work in a field relevant to this assignment preferred but not required. Experience and education may be substituted for one another.
- Experience in the production or financing of affordable housing is preferred.
- Knowledge of the multifamily housing programs administered by the Department is preferred.
- Experience with commercial loan workout, financial analysis, credit reporting, and multifamily underwriting and development is preferred.
- Experience in analyzing state and/or federal laws, regulations and statutes desired.
KNOWLEDGE, SKILLS AND ABILITIES:
- Strong numerical and analytical background.
- Ability to plan, organize, and direct the work of an organization; to gather, assemble, correlate and analyze facts and devise solutions to complex administrative and operational problems.
- Ability to analyze complex financial information.
- Self-sufficient computer skills including at minimum, Word, Excel, Access, and Explorer.
- Ability to effectively communicate orally and in writing with diverse groups and individuals.
- Must have the ability to learn and be trained.
- Must evidence the desire for continuous growth.
- Must be willing to work overtime if necessary.
PHYSICAL REQUIREMENTS:
- This classification functions in a standard office environment. Ability to drive and travel as needed. Will need to move about the office to access file cabinets, use office machinery, attend meetings in various offices and conference rooms, etc. Must be able to communicate and exchange accurate information via phone, computer, and in person. Must be able to observe and evaluate data in a variety of formats, including hard copy, electronic, and various media formats. Must be able to work non-standard hours including the ability to work beyond 40 hours per week as needed and in compliance with the FLSA.
- The employee must be able to lift and/or carry up to 10 pounds. Must be able to push and/or pull up to 10 lbs.
OTHER:
Must be willing to work in a non-smoking environment and adhere to all applicable Department policies and procedures. Must be willing to work overtime if necessary which may include nights and weekends. Must attend work regularly and adhere to approved work schedule.
- Official transcripts or other minimum requirement validations will be requested of final applicants.
- Criminal background checks will be conducted before an offer of employment is extended.
Males born on or after January 1, 1960, between the ages of 18-26, will be required to present proof of Selective Service System registration on the first day of employment or proof of exemption from Selective Service registration requirement.
The U.S. Immigration Reform and Control Act of 1986 requires new employees to present proof of identity and eligibility to work in the United States. Failure to provide this information within the required timeframe will result in the offer being rescinded.
Thank you for considering employment at the Texas Department of Housing and Community Affairs! The Texas Department of Housing and Community Affairs is an Equal Employment Opportunity employer.
