TITLE: Senior Asset Manager

REPORTS TO: Director of Asset Management

DEPARTMENT: Asset Management

STATUS: Regular, Full-Time

FSLA: Exempt

WAGE RANGE: $109,984 - $122,204/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