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TITLE:                    Senior Asset Manager 

REPORTS TO:        Director of Asset Management 

DEPARTMENT:        Asset Management 

STATUS:                   Regular, Full-Time 

FSLA:                        Exempt 

WAGE RANGE:         $115,415 - $125,559/year  

GRANT FUNDED:     No

UNION POSITION:    No 

LOCATION:                145 Taylor St, San Francisco, CA 94102 

SCHEDULE:               Monday - Friday; 9:00 am - 5:30 pm; Hybrid; 3 days onsite, 2 days remote 

SUMMARY

Under the general direction of the Director of Asset Management, the Senior Asset Manager is responsible for ensuring that a sub-portfolio of TNDC properties achieves the financial, physical, and social goals and standards of the owner, TNDC, and its funders. Of particular importance is planning property and portfolio re-capitalization and execution of partner exits. Overall, there is exposure to many issues with many opportunities for creative problem solving.  This is a very good opportunity for professional development in real estate.

ESSENTIAL DUTIES

Financial Well-Being

• Establish and monitor financial performance standards for a portfolio of approximately twenty (20) assets within TNDC’s portfolio. 

• Monitor and provide input on annual rent setting goals to meet property financial performance targets; monitor annual income certification process and participate, as-needed, in annual file audit strategy. 

• Contribute to property Watch listing work-out analysis, discussions, and identification of asset-specific solutions 

• Monitor the current and long-term financial status of TNDC projects by reviewing operating budget variance reports and by preparing long-term operating cash flow projections 

• Review and manage asset-level data integrity in Yardi (or equivalent), document management, and Microsoft BI dashboards; standardize chart of accounts mapping for analytics  

• Contribute to preparation of audited financial statements, i.e., related party fees, contingent liabilities, reserves, and surplus cash analysis and distribution 

• Assist Director of Asset Management and Accounting Team in audit tie-out procedures, and provide variance narratives to streamline annual audits and monitoring visits. 

• Review audited financial statement draft reports. 

• Propose solutions to structural deficits and propose disposition of annual surplus/deficits 

• Responsibility for at least one technical specialization for the portfolio, such as property tax, mortgage, HUD contracts, or insurance management.   

Physical Well-Being

• Ensure portfolio meets owner physical quality standards 

• Approve specific capital improvement project proposals 

• Ensure that capital needs assessments are performed on all properties, either internally or from third-party consultants; utilize findings to inform asset management plans, capital improvements prioritization, and/or recapitalization strategies  

• For moderate rehabs, serve as owner’s rep in preconstruction, change order control, schedule/cost oversight, and relocation planning coordination (with PM and services) 

• Assist Facilities Team with establishing portfolio decarbonization and resilience targets (electrification, heat pump conversions, envelope upgrades) with facilities team, receive reports from facilities who track energy/water benchmarking, and help direct appropriate team to pursue incentives 

• Complete property site visits annually, to assess operations and physical conditions, with additional site visits as needed. 

Portfolio Planning and Re-capitalization

• Write property-specific asset management plans through analysis which finds each properties problems, opportunities and actions 

• Contribute to portfolio long-range planning and lead execution of actions, such as re-finance, partner exits, increasing savings or finding new funding sources  

Investor/Lender Contract Administration

• Minimize financial risk by ensuring compliance with third party requirements OR Follow the annual compliance calendar (CTCAC/TCAC, CDLAC, HUD, HCD, MOHCD, SF DBI/SFFD where applicable) developed by Director and ensure timely filing—e.g., Annual Owner’s Certifications, monitoring submissions, rent/income limit updates, utility allowances, and affirmative marketing reporting 

• Track and fulfill city monitoring/reporting obligations specific to SF-funded assets, including compliance with recorded affordability covenants and services commitments 

• In collaboration with Compliance inspection schedule, monitor stakeholder inspections, findings, and close-outs 

• Maintain property asset management plans/deal books that include analysis of most restrictive requirements, services requirements, and other regulatory requirements that need to be tracked annually 

• Monitor resident services outcomes that tie to asset KPIs (e.g., tenancy stabilization, reduced arrears/evictions, etc.) 

• Provide timely information to and maintain excellent relationships with lenders, investors, and government agencies 

• Preparing contract analysis summaries for loan and equity agreements 

• Administer loan and equity agreements after initial and final loan closings 

Responsibilities Furthering Multiple Owner Goals

• Advance Owner’s main objectives by commenting on Property Management policies plans and procedures 

• Work with TNDC development staff to create initial operating budgets and project designs that achieve Asset Management goals of long-term financial stability, cost efficiency and well-maintained physical plant 

• Participate in new project hand-off from development to asset management and operations, understanding the long-term performance objectives and recording regulatory requirements 

• Recommend for approval management plans which accomplish owner’s asset management goals 

• Assist Director or VP of Real Estate in preparation of quarterly and annual dashboards and memos for Board/Finance Committee and LPs—performance trends, compliance status, capex progress, risk alerts, and strategy updates 

• Manage welfare tax exemptions, appeals, and valuation negotiations (as needed). 

• Perform other related duties as required

REQUIRED SKILLS

• Ability to comprehend and correctly use informational documents including budgets, financial reports, occupancy reports, bids, contracts and meeting minutes 

• Ability to prepare policies, procedures, compliance reports, investor/owner reports and correspondence 

• Ability to comprehend publications and manuals including HUD and tax credit manuals, industry publications and legal documents 

• Ability to communicate effectively with coworkers and staff at all levels, residents, government officials, both verbally and in writing 

• Ability to stay informed of changes in policy, methods, operations, etc. as they apply to property and asset management operations and activities 

• Intermediate knowledge of MS Excel, Word, and Outlook 

• Ability to work with and sensitivity to a diverse, low-income, multi-ethnic population 

• Sound judgment, excellent analytical and problem-solving skills 

• Strong time management skills 
   

MINIMUM QUALIFICATION

• Four-year college degree 

• Five years of direct experience in non-profit owner asset management as a full-charge asset manager.  

• Demonstrated abilities in all five of these areas: 

• Property Asset Management Plan writing, including Partner Exit Plans 

• Capital Needs Projections 

• Surplus cash analyses for audits 

• Contract analysis 

• Project management 

• High level specialist knowledge in at least one of these subjects:  insurance, property tax, HUD contract renewals/increases, AM design review, or databasing 

• Intermediate knowledge of MS Word and MS Excel. 

• Two years of experience in quantitative analysis. 

• Graduate degree or professional certificates may substitute for experience. 

PREFERRED QUALIFICATIONS

• Graduate Degree and/or additional related professional experience 

• Intermediate knowledge of property management software or accounting software 

• Training or experience in Housing Development and/or Tax Credit programs 

• Professional certification related to housing development, property or asset management 

• Graduate Degree and/or additional related professional experience
• Intermediate knowledge of property management software or accounting software
• Training or experience in Housing Development and/or Tax Credit programs
• Professional certification related to housing development, property or asset management

Tenderloin Neighborhood Development Corporation is an Equal Opportunity Employer. 
In compliance with the San Francisco Fair Chance Ordinance (August 13, 2014), all qualified applicants with criminal histories will be considered for the position.