Sr Asset Manager (Asset Mngt) chez Opportunity Home San Antonio, TX

About the Department

The Sr Asset Manager will be responsible for high-level portfolio and property-level analysis and strategy for related affordable housing assets within the Opportunity Home San Antonio portfolio.  The successful candidate will be a critical part of monitoring asset performance and bridging all communications with third-party property managers, lenders, and investor partners for Low Income Housing Tax Credit (LIHTC) developments in which Opportunity Home or a related entity owns the general partnership interest.

Position Duties

Essential Duties + Responsibilities

The position duties and responsibilities listed below describe the general nature and scope of work. Other responsibilities, duties, and skills may be required and assigned, as needed. These essential functions require a consistent presence in the work environment on a regular basis and regular attendance must be maintained. 

• Review monthly financial reporting packages from third-party management firms, including operating statements, balance sheet, trial balance, budget variance, rent roll, cash flow statement, tenant receivable, account payable status, and other relevant performance indicators to evaluate the financial health and long-term viability of multifamily assets.

• Partner with property and regional third-party managers to stay abreast of market conditions and operational challenges, and opportunities.

• Serve as a single point of contact and liaison between third-party property managers and other Opportunity Home stakeholders (public housing, Section 8, compliance, security) to ensure that issues are promptly addressed.

• Integrate third-party management reports into a customized report, which provides monthly key performance metrics/analysis and reporting at the property level, management firm level, and overall portfolio level. Including, but not limited to, debt service coverage ratio, occupancy rate, expense per unit, Net Operating Income, and trailing 12 indicators.

• Provide high-level portfolio and property-level analysis and strategy. 

• Proactively inform the Director of Asset Management of concerns affecting property maintenance, operations, revenue, cash flow position, budget variances, and TDHCA compliance deficiencies.

• Discuss asset performance concerns with the Director of Asset Management, including proposed resolution, timeline, and oversight to ensure that corrective action is effectively implemented.  

• Review all post-conversion transaction requests requiring consent or approval of the general partner. Make recommendations to the Director of Asset Management and prepare the required supporting analysis, recommendation, and certification memorandum. 

• Perform quarterly site inspections to assess property condition, operations, capital needs, and adequacy of site staff. Ensure adequate follow-up to address any concerns/deficiencies. Attend all third-party inspections (lender, TDHCA, investor, REAC).

• Review and approve annual budgets (including capital expenditures), reserve reimbursement requests, Annual Ownership Report prior to submission to TDHCA.

• Participate as requested by the Director of Asset Management in the evaluation of new development proposals (including financial pro forma) and review of key transaction-related documents. 

• Ensure that transactional and legal documents for assets transferred from DSNR at the time of conversion are saved to the departmental shared drive using the approved filing convention. Complete standard deal abstract identifying salient terms and conditions and referencing sections of applicable legal documents.

• Engage third parties(CPA firm, appraiser, legal counsel) to assist in the analysis of assets approaching the end of the initial 15-year compliance period. Perform analysis and provide exit strategy recommendations based on provisions contained in the amended and restated partnership agreement and applicable loan documents. 

• Maintain correspondence, documentation, and work product in the shared departmental drive.

• Stay abreast of government housing policies and recommend changes to Asset Management procedures to fully capitalize on programs.

• Collaborate with the Compliance Department to develop and maintain an annual scorecard to rank the performance of assets and third-party management firms.

• Effectively communicate, both internally and externally.

• Monitor correspondence from the Texas Department of Housing and Community Affairs (TDHCA) in the Compliance Monitoring and Tracking System (CMTS). Address issues, review pre-inspection and corrective action documentation with management firms before it is uploaded to CMTS. Ensure that all deficiencies are addressed before the expiration of the corrective action period.

• Field work requires site visits to include property inspections, visiting vacant units and any capital projects underway at a property. 

• Complete all duties as assigned or requested as outlined in operational and procedural guidelines. These guidelines are maintained and issued in the event of an emergency situation that arises at a property or any other location that serves our residents or employees. 

• Participate in Trauma Informed Care (TIC) initiatives to include training, workgroups, project assignments, etc., that are launched or implemented in order to achieve and/or maintain certification as a TIC organization.

• Recognize the significance of a data-driven organization that adheres to expanded policies and practices in the area of data governance. Learn the distinct and different roles to include: Data Trustee, Data Domain Stewards, Data System Custodians, Data Stewards, and Data Users. Effectively collaborate with the various data roles as needed on a daily basis or in a project capacity.

• Employees are expected to use Generative AI solutions ethically and responsibly.

• Other duties as assigned.

This position requires the incumbent to exhibit the following behavioral skills

1. Values Driven | Demonstrates an understanding of the values (Compassion, Equity and Excellence) and embodies the values in their work and interactions with residents, vendors, co-workers, supervisors, board members, community members, and other stakeholders.

2. Leadership | Provides direction to people and/or projects by clearly and effectively setting course of action for the assigned department staff and tasks; manages the planning, execution, and achievement of assigned department goals.

3. Customer Service | Responds with Compassion in a professional manner to the expectations and needs of internal and external customers; is friendly and helpful to all customers, fostering positive relationships while providing Excellent service.

4. Effective Use of Information | Communicates important information to those who need to know clearly, securely, effectively, orally and/or in writing; proactively exchanges accurate and timely information.

5. Commitment and Continuous Improvement | Sets the standard for Excellence by proactively pursuing innovation through systematic experimentation and learning.  Corrects mistakes by assessing appropriate processes, proposing adjustments, and prioritizing long-term solutions.

6. Teamwork | Balances team and individual responsibilities; exhibits Compassion, objectivity and openness to others' views; gives and welcomes feedback; contributes to building a positive team spirit; supports everyone's efforts of Excellence; attends, supports, and participates in the organization’s team building events.

7. Responsiveness and Accountability | Demonstrates a high level of Excellence and holds oneself personally responsible for one's own work; complies with procedures and directives and understands the importance of maintaining and managing confidential information; recognizes and anticipates issues and provides a responsive resolution in a timely manner.

Minimum Qualifications

Education

Required

• Bachelor’s Degree in Business Administration, Management, Finance, Real Estate, or related field.

Experience

Required

• Eight (8) years of experience as an asset manager or oversight of multifamily (2000+) units.

• Experience working with property managers and owners alike with proven results. 

• Must have the ability to learn and use cloud applications such as the Google GSuite applications to include but not limited to: Google Chrome Browser, Gmail, Drive, Calendar, Docs, Sheets and Slides. Understanding document sharing and collaboration in the cloud. Experience and proficiency with Microsoft Office 365, cloud accessible applications to include but not limited to: One drive, Outlook, Word, Excel and Powerpoint or MAC or PC desktop equivalent is acceptable. 

• Successful completion of a criminal history background check, education, and work history verification, and drug screening test.

Preferred Education and Experience 

• Ability to learn cloud technologies such as LucidChart for diagram, workflow and chart drawing.  Experience with Vizio or equivalent is acceptable. Basic understanding of Virtual Private Network (VPN) access to connect to internal business systems.

Required

• Texas Class “C” driver’s license at the time of placement and insurable by the organization’s fleet and liability insurance carrier.

• Must have the ability to earn certifications as required by assigned tasks.

Technical Skills

To perform this job successfully, the employee should have

• Passion for real estate, strong ownership mentality and ability to quickly grasp complex topics.

• Working knowledge of tax credit programs,deal structure, legal, and partnership documents, etc.

• Experience with development or redevelopment and/or construction preferred.

• Knowledge of real estate debt structures and applicable legal documents.

• Superior analytical skills.

• Ability to travel.

• Ability to work with complex information, policies and procedures.

• Must have the ability to think and work from both the macro and micro levels.

• Ability to perform a variety of duties and responsibilities with a high standard of accuracy, attention to detail, and speed under the pressure of time-sensitive deadlines.

• Ability to multitask and cope with competing priorities.

• Investor/owner mentality.

• Strong communication skills, both written and verbal.

• Excellent communication skills, team orientation, creativity.

• Keen attention to detail.

• Ability to multi-task and shift direction easily.

• Self-starting personality that can work well with limited direction.

• Personal style that is easily adaptive to different cultures and styles of transacting business.

• Excellent oral and written skills.

• Unquestioned integrity.

• Strong proficiency with MS Office, Google Docs, Sheets, slides.

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

To perform this job successfully, the employee is frequently required to remain in a stationary position. Daily movements include sitting; standing; operating computers and other office equipment; walking and moving about the office and/or community property, and attending onsite and offsite meetings. The employee must be able to complete data entry, utilize various portals and communicate via email and verbally via telephone. The employee must occasionally transport up to 25 pounds. 

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Office Environment

• The noise level in the work environment is usually moderate.

• High level of interaction with external/internal clients. 

• May be transferred or be required to work at different properties or sites for interim periods in order to support business needs. 

• Subject to environmental elements when conducting visits to various sites or participating in outside events. 

In compliance with the Americans with Disabilities Act, the organization will make reasonable accommodation to the known disability of a qualified applicant or employee to enable people with disabilities to enjoy equal employment opportunities, if it would not impose an “undue hardship” on the operation of the employer’s business.

As a public agency, the organization is committed to maintaining the highest of ethical standards. Applicants selected for employment are expected to perform work responsibilities with the highest degree of integrity, professionalism and honesty, to merit the respect of our co-workers, clients, partners, vendors and the general public. Applicants selected for employment are also expected to serve the public with dedication, concern, courtesy and responsiveness.  

Equal Employment Opportunity Statement 

Opportunity Home is an Equal Opportunity Employer that does not discriminate on the basis of actual or perceived race, color, religion, gender (including pregnancy, gender identity and sexual orientation), national origin, age (40 or older), disability, or genetic information, marital status, veteran status, arrest record or any other characteristic protected by applicable federal, state or local laws. Opportunity Home is dedicated to this policy with respect to recruitment, hiring, placement, promotion, transfer, training, compensation, benefits, employee activities and general treatment during employment.

The above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job. This position specification is not an employment agreement or contract. Management has the exclusive right to alter this position specification at any time, without notice.