Wesley Housing Development Corp - Asset Management Analyst at Wesley Housing Development Corp

Location: Hybrid (Remote approximately 75% + On Site approximately 25%)

Company Overview

Wesley Housing, a leading nonprofit developer throughout Virginia and the District of Columbia, has worked to provide affordable rental housing for individuals and families for more than 50 years. Since its founding, Wesley Housing has emerged as a premier developer of affordable housing with current ownership in 4,300+ units. Wesley Housing supplements housing with supportive services to build up the lives of its ~4,500 residents living across its owned and operated communities, including low- and moderate-income families, older adults, and individuals with disabilities and/or chronic disease. Wesley Housing’s headquarters are located in Alexandria, VA (Fairfax County). For more information, please visit www.wesleyhousing.org and follow @WesleyHousing on social media.

To apply, please visit our careers website at https://wesleyhousing.org/about-us/careers/. Click on Open Positions. Select the position you are interested in. Then click the Apply button to submit your application.

Job Summary

Wesley Housing is seeking an Asset Management Analyst to play a key role in protecting and advancing the long-term success of our affordable housing portfolio. Our Asset Management team oversees 48 properties and more than 3,100 units, ensuring they remain strong community assets for years to come.

In this role, you’ll partner with internal teams and external stakeholders to analyze property and portfolio performance, solve problems, and develop strategies that align with our mission and strategic goals. You’ll take ownership of reporting, compliance, and performance for a regional portfolio while gaining exposure to every stage of a property’s life cycle. Guided by the Vice President of Asset Management & Compliance, you’ll make a measurable impact on the sustainability and growth of Wesley Housing’s affordable housing developments.

Essential Functions

• Review monthly financial statements and variance reports, annual budgets and audits, assign quarterly risk ratings, and conduct site inspections for an assigned portfolio of affordable properties.
• Measure and manage property performance against projections and annual budgets.
• Prepare monthly, quarterly, and annual reports for external stakeholders; respond to investor and lender requests and produce investor-specific reports.
• Review and summarize key provisions of partnership agreements, regulatory agreements, and loan documents.
• Enter financial data for third-party managed properties into Wesley Housing’s data management system.
• Assist in assessing whether properties achieve breakeven operations.
• Review and recommend approval for replacement reserve requests, HUD and HAP contract renewals, and cash flow      distributions.
• Conduct market analyses.
• Forecast and model project operations to identify performance deficiencies and opportunities for improvement.
• Contribute to the preparation of annual asset management plans.
• Analyze and model investor exit terms from LIHTC deals in collaboration with the VP of Asset Management.
• Maintain integrity and quality of data in the property database.
• Monitor and resolve property tax issues.
• Collaborate with internal staff across all departments and levels, as well as with external stakeholders (investors, lenders, regulators, auditors, etc.), to achieve property goals.

Knowledge, Skills and Abilities:

• Excellent verbal and written communication skills
• Proficient with Microsoft Office, Real Page, One Site, Business Intelligence and Power Bi or similar business analytics software.   
• Familiarity with real estate, the LIHTC program and other affordable housing programs
• Ability to read, understand, and abide by partnership agreements
• Ability to interpret and analyze the business terms included in legal documents and financial projections
• Strong financial, analytical and spreadsheet skills
• Ability to work collaboratively across the Real Estate Development and Finance departments to achieve corporate and property-level goals
• Ability to communicate effectively and establish strong relationships with external stakeholders including lenders, investors and regulatory agencies
• Strong organizational and time management skills
• Demonstrated ability to effectively reprioritize work to respond to difficult property-level issues or organizational change
• Ability to work in a fast-paced work environment while managing conflicting priorities. 

Education & Experience:

Bachelor’s degree required; focus in real estate, finance or urban planning strongly preferred. 

Two-plus (2+) years of real estate or related financial experience in an analytic role required OR a graduate degree in real estate, finance or urban planning may substitute for work experience.

Physical Job Requirements 

· Able to remain in a stationary (standing and/or seated) position more than half the time 

· When on site, may need to move about central office or property sites about 30% of the time 

· Able to regularly maneuver (lift, move, carry, slide, etc.) up to 15 pounds 

· Able to operate machinery and equipment that requires the constant use of hands/fingers/wrists (ex.’s: typing, filing, etc.) 

· Able to spend more than half the time viewing computer monitors

· Rarely exposed to outdoor weather conditions 

· Rarely exposed to non-climate controlled workspace(s) 

· Rarely required to be able to identify and distinguish between colors 

Travel Requirements:

This position will travel to local site locations occasionally (up to 20% of the time). If operating own vehicle, must possess a current driver’s license and personal car insurance and maintain a safe driving record.

Benefits

Wesley Housing offers a generous benefits package to full-time employees that includes a competitive salary, health insurance, disability insurance, paid time off, flexible work schedule, opportunities for training, and a retirement plan with a company match.