San Francisco, CA, USA
Job Title: Senior Asset Manager, Compliance and Monitoring
Location: San Francisco. Hybrid.
Department: Asset Management
Reports To: Director, Asset Management
Job Status: Exempt, Full-Time
Compensation: $110,000.00 to $125,000.00 per year, DOE; medical, dental, vision & retirement plan To Apply: Send cover letter and resume to firstname.lastname@example.org
Note: Vaccination against COVID-19 is not a requirement of the job, but it is optional and strongly recommended
About the Role
· Ensures that each property developed has legal document summaries, with the financial responsibilities of each partnership and project loan summarized as well as rent restrictions.
· Monitors compliance with governing documents and works with appropriate staff to make sure that compliance is maintained.
· Establishes tickler system for reporting.
· Schedules and coordinates on-going file reviews and ensure files for accuracy and compliance with income limit, rent limit, utility allowances based on regulatory agreements, partnership agreements, other program requirements and resident selection criteria.
· Keeps current on all updates and changes in government agencies’ regulations e.g. TCAC, HUD, MOHCD, HCD etc.
· Manages annual filing requirements, such as SOI, AOP and POP and welfare tax exemption filings.
· Supervises, trains and mentors the Compliance Analyst.
· Monitors the Compliance Analyst’s daily tasks and completes scheduled performance evaluations.
· Assists Asset Management in preparing reports for funders, investors, and regulatory agencies;
· Updates forms, documents, resident selection criteria;
· Maintains ongoing communications regarding compliance issues with Property Management and Asset Management;
· Coordinates with Property Management to ensure that all 1st year tenant files are in compliance;
· Provides compliance status reports for the entire portfolio to Asset Management;
· Participates in lease-up and/or marketing at new and existing properties;
· Assists Property Management in developing corrective action plans based on internal and external audit findings;
· Attends HUD trainings and LIHTC compliance workshops to stay updated;
· Reviews and approves annual property management budgets.
· Monitors property operations results in relation to budgets/ ops reviews.
· Identifies and manages property(ies) on the watch list/critical list.
· Manages construction draws on small scale capital improvement projects for properties in assigned portfolio.
· Creates and updates asset business plans focused on identifying and mitigating property-related risk.
· Performs/monitors property inspections (including annual inspections).
· Identifies opportunities for refinancing.
· Leads commercial tenant lease negotiations and lease execution as applicable.
· Manages capital needs assessments and develops capital plans.
· Works as part of a dedicated and supportive asset management team in the San Francisco office.
· Develops consensus within and between diverse groups.
· Resolves conflicts through negotiations and maintains relationships during difficult situations.
· Represents Mission Housing Development Corporation in a professional manner at all times.
· Understands and commits to the Mission and Philosophy of Mission Housing Development Corporation.
· Meets deadlines and works under pressure, with interruptions.
· Prioritizes effectively with tight time constraints.
· Achieves results for the organization with and through other people utilizing creative and innovative solutions.
· Works successfully in a collaborative manner, with a complex organization.
· Works on several projects at the same time with constant interruptions.
· Reads, interprets, and comments on financial statements and legal documents.
· Makes limited contractual and expenditure decisions within corporate guidelines.
· Treats a variety of people with respect and compassion.
· Performs other duties as assigned.
*This is a brief description summarizing the duties of the position.
Required Skills, Qualifications and Abilities:
· At least five years of experience working in affordable housing and/or residential property management setting.
· Experience working in affordable housing properties with multiple layers of funding.
· Three years of experience in income averaging and in the leasing-up of newly constructed 100% affordable housing buildings.
· Knowledge of HUD, TCAC, HOME, HCD, MOHCD, and other guidelines/programs.
· 504 Compliance Certification required.
· Demonstrated knowledge of Fair Housing Laws as well as other regulations and rules.
· Certified Occupancy Specialist (COS) or Tax Credit Specialist (TCS).
· Relevant experience with HUD, RAD, HSH, bonds, tax credits and layered subsidies.
· Experience working in affordable housing properties with multiple layers of funding.
· Familiarity with affordable housing management principles, including funding and regulatory requirements, landlord/tenant law, and fair housing regulations.
· Sensitivity to challenges facing low-income and monolingual residents.
· Ability to work collaboratively with different levels of management and government agencies.
· Capacity to work independently and exercise own judgment in problem-solving.
· Experience working in the nonprofit sector.
· Excellent organizational, administrative, financial, and communication skills (written and oral)
· Proficient in Microsoft Work, Excel & Outlook and Property Management or data tracking software.
· Advanced proficiency in MS Office suite and property management software i.e. YARDI.
· Ability to negotiate.
· Strong time management and organizational skills with attention to detail, and technical project management.
· Excellent written, verbal communication and relationship management skills.
· Strong interpersonal and communication skills.
· Extensive problem solving and flexibility while remaining focused on solutions.
· Valid California driver’s license.
· Bachelor’s degree in Business, Management, Finance, Planning, Real Estate, or any other fields.
· Certified Property Manager (CPM) of Certified Housing Asset Management (CHAM) designation is strongly preferred.
· While performing the duties of this job, the employee is regularly required to sit; use hands; reach, talk and hear. The employee is occasionally required to stand, walk and drive.
· The employee must occasionally lift and/or move up to 20 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.
· The noise level in the work environment is usually quiet to moderate. However, construction sites may be noisy and appropriate measures should be taken to protect hearing and health on job sites.
**Disclaimer: The employer reserves the right to change or assign other duties including rotating sites if necessary.
Mission Housing Development Corporation is an equal opportunity employer and does not discriminate against any employee or applicant for employment because of race, color, ethnic background, religion, sex, sexual orientation, age, national origin, or disabilities. Please let us know if you need any special accommodations. Pursuant to the San Francisco Fair Chance
Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
Please let us know if you need any special accommodations.
Mission Housing Development Corporation is a drug free work place as required by the “Drug-Free Workplace Act of 1988”
Compensation: $110,000.00 to $125,000.00 per year, DOE; medical, dental, vision & retirement plan
To Apply: Please email resume and cover letter to hr
About the Company
Mission Housing Development Corporation is a private non-profit housing developer founded in 1971. Mission Housing develops high-quality, well-managed, affordable, sustainable communities that promote the self-sufficiency of low- and moderate-income families, seniors, and persons with diverse needs and offers technical assistance to service providers to help them develop affordable housing that meets the needs of special populations with a comprehensive vision of community. We own approximately 43 affordable housing buildings serving over 3,300 families and individuals with diverse ethnic and cultural backgrounds in San Francisco’s Mission District.
The Senior Asset Manager, Compliance and Monitoring, acts as Owner's Representative in relation to the physical and financial status of each property in the assigned portfolio – with a main focus on overall regulatory compliance and monitoring requirements – and to protect the financial health and long-term viability of the portfolio. This position serves as a liaison with agency records and outside contractors to ensure that all issues related to programmatic compliance are met. The Senior Asset Manager, Compliance and Monitoring, will work closely and coordinate with the Asset Management Department and property management firms to ensure Mission Housing’s assets are up-to-date and performing at the highest level possible.