- Junior
- Office in Boston
Title: Asset Manager
Organization: MassHousing
Location: One Beacon Street, Boston, MA 02108
Posting Closes: Close of Business on 8/212025
Website: https://www.masshousing.com
The Organization:
MassHousing will confront the housing challenges facing the Commonwealth to improve the lives of its people. A bold mission for an innovative agency. Since its inception in 1966, MassHousing has provided more than $27.5 billion for more than 125,000 apartments and more than 105,000 home mortgage loans. Beyond lending, we also work to promote economic growth and empowerment for families, individuals, and businesses; help communities increase their housing stock; provide hope and homes for vulnerable populations, and look for new, cost-effective ways to provide equitable housing opportunities. We have a relentless determination to confront the Commonwealth's housing challenges and improve lives.
We know that we cannot meet our mission without a workforce that is committed to standing with us in our efforts. We achieve this by making investments in staff development and prioritizing individuals who align with our values including an unwavering dedication to diversity, equity, and inclusion.
As an employee of MassHousing you are offered a great career opportunity which is more than a paycheck. MassHousing’ s total compensation package features an outstanding set of employee benefits which you should consider towards your overall compensation, including but not limited to:
• Tuition reimbursement up to $10,000 per calendar year
• A 35-hour work week and a hybrid work schedule
• Back up Child/Elder Care
• Retirement Savings including a pension and a deferred compensation plan (with a match)
• Comprehensive health, dental and vision plans
• 12 paid Holidays per year and generous sick, vacation, and personal time
• Short-Term and Long-Term Disability
• Central Boston office location, convenient to public transportation and amenities on site
If you’re ready to join our dynamic team of mission driven professionals, this might be the job for you! Interested candidates should send a letter of interest and a resume to MassHousing by logging in to www.masshousing.com/workwithus
Position Summary
The Asset Manager oversees a portfolio of financed developments with strong risk ratings comprising various programs and lending products, along with developments from the HUD PBCA portfolio. The Asset Manager serves as the primary contact for owners, management agents, and residents of their assigned portfolio and responds to federal, state and local partner inquiries in consultation with their supervisor. The Asset Manager also monitors the financial performance and physical condition of developments, as well as compliance with affordability restrictions and housing programs. The Asset Manager is responsible for conducting inspections, and reviewing and understanding underlying loan documents, financial reports, capital needs assessments, and program guidelines. Using the available information and tools, the Asset Manager prepares reports and assesses the risk ratings of each property based on their analysis, which is shared throughout the Rental team. This position reports to Portfolio Manager.
This role requires the ability to negotiate non-compliance issues while effectively delivering messages in a way that maintains and preserves professional partnerships. Accuracy, critical thinking and adherence to deadlines are important to the job. The ideal candidate will demonstrate exceptional critical thinking and problem-solving abilities, along with a strong work ethic and the capability to work both independently and collaboratively within a team. Strong interpersonal and communication skills are essential, as are effective time management and project management skills. The Asset Manager is an energetic team player who takes initiative and maintains a strong focus on delivering high-level customer service.
All positions at MassHousing require a customer service mindset in accordance with our values: Respect, Service, Empathy, Accountability, Collaboration, and Inclusion.
MassHousing operates under a hybrid work model; therefore, employees are expected to work on-site according to a schedule determined in collaboration with their manager and based on the needs of the role. To support effective onboarding, new employees may be required to work in the office more frequently during their first 90 days.
Essential Functions
Compliance and Risk Management
• Reviews underlying loan and program documents to gain proficient understanding of each development’s affordability profile, compliance reporting, and financial requirements. Monitors loans for compliance with affordability requirements.
• Performs property inspections to assess operational performance and fiscal management, and compliance with applicable federal, state and MassHousing programs and loan requirements. Documents the assessment and recommendations in the required format.
• Addresses issues and concerns from residents, applicants and HUD staff following appropriate process and guidelines.
• Determines the financial, physical, and compliance risk ratings as needed to evidence the level of risk associated with the property so appropriate action and decisions can be made as it pertains to the development, management agent, or ownership entity. Provides input to Asset Management Department Watchlist and develops Risk Action Plans, as required.
Financial Analysis
• Analyzes annual budgets and audited financial statements to evaluate performance, identify issues, determine cashflow payments due, and recommends distribution requests for approval to their Portfolio Manager.
• Analyzes Capital Needs Studies and determines sufficiency of replacement reserve escrows and makes recommendations to address shortfalls, as required. Reviews replacement reserve withdrawal requests and makes approval recommendations to the Portfolio Manager.
Cross-Departmental Collaboration
• Participates in Deal Teams and collaborates with the Senior Asset Manager to support rental lending staff by providing comparable developments and conducting operating budget analysis for underwriting. Reviews new management companies, completes Tenant Selection Plans and Management Agreements during underwriting in conjunction with internal and external Deal Team members.
• Collaborates with Business Development regarding potential refinancing opportunities, paying particular attention to pre-payable, balloon, and maturing loans.
• Collaborates with the Senior Asset Managers (Level I and II) to better understand all department guidelines and processes to proficiently complete job duties and expand knowledge and skill set.
• Participates in Department initiatives and committees to achieve All Rental, Department, and individual goals, and further improve procedures.
Security
• Comply with MassHousing’s Information Security Program and all other Agency information security policies and procedures.
• Take responsibility for any Agency assets assigned.
• Promptly report any security events, incidents, or weaknesses to MassHousing’s Information Security Team.
Minimum Qualifications
• Valid driver’s license
• Eligibility to work in, and travel freely to and from, the United States without sponsorship
• Proficiency in Microsoft Office Suite
• Ability to travel to travel to properties throughout Massachusetts
Preferred Qualifications
• Bachelor’s degree in Finance, Real Estate Management, Business Administration, or related field, or equivalent combination of education, training, and/or work experience
• 2+ years of experience in Asset Management or multifamily housing
Salary Range: $80,493.30 - $104,641.29
MassHousing is an Equal Opportunity Employer
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