Asset Manager

MassHousing; Boston (MA); Hybrid; USD 80,000 - 105,000; Full time

Benefits offered by this job

Tuition reimbursement

Hybrid work schedule

Back up Child/Elder Care

Pension + 401(k) match

Paid holidays & time off

Short-Term Disability

Central Boston office

Job summary

MassHousing in Boston seeks an Asset Manager to oversee the financial performance and physical condition of financed housing developments, ensuring affordability and program compliance within the HUD PBCA portfolio.

The role serves as a primary contact for owners, management agents and residents, coordinating with Portfolio and Senior Asset Managers on budgets, capital plans, risk assessments, and regulatory requirements.

Qualifications

• Proficiency with Microsoft Office Suite.
• Valid driver’s license and ability to travel to Massachusetts properties.
• Eligibility to work in, and travel freely to and from, the United States without sponsorship.

Responsibilities

• Oversee the financial performance and physical condition of financed housing developments.
• Ensure ongoing affordability compliance and program regulations for properties in the HUD PBCA portfolio.
• Act as a primary contact for owners, management agents, and residents; respond to inquiries from partners.

Skills

Microsoft Office Suite

Travel to MA properties

US work authorization

Education

Bachelor’s degree in Finance/Real Estate/Business

Job description

Website: www.masshousing.com

The Organization

MassHousing will confront the Commonwealth’s housing challenges to improve the lives of its people. A bold mission for an innovative agency. Since its inception in 1966, MassHousing has provided more than $30 billion for 92,000+ rental units and 90,000+ 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 $15,000 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)
• 12 paid Holidays per year and generous sick, vacation, and personal time
• Short-Term Disability
• Central Boston office location, convenient to public transportation and amenities on site

Position Summary

The Asset Manager oversees the financial performance and physical condition of financed housing developments. This role ensures ongoing compliance with affordability requirements and program regulations for strong-risk properties and developments within the HUD PBCA portfolio. The Asset Manager is a primary point of contact for owners, management agents, and residents and responds to inquiries from federal, state and local partners. This position reports to the Portfolio Manager.

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 Regulatory Oversight

• Conduct and document property inspections to evaluate operational efficiency, financial management, and adherence to applicable federal, state and MassHousing program and loan requirements
• Monitor loan compliance and assess financial, physical, and regulatory risk ratings to accurately represent a property’s overall risk profile ensuring informed decision-making and appropriate action plans
• Update Asset Management watchlist and develop risk mitigation plans as needed
• Evaluate annual budgets and capital improvement plans provided by ownership or management agents
• Analyze audited financial statements to assess performance, identify issues, confirm cash flow obligations, and recommend distribution approvals to Portfolio Manager
• Analyze capital needs studies to evaluate adequacy of replacement reserve escrows and recommend strategies to address funding shortfalls to Portfolio Manager

Relationship Management

• Serve as an active member of Deal Teams by collaborating with the Senior Asset Manager and providing comparable development data and operating budget analyses for Rental Lending and Underwriting staff
• Collaborate with Business Development and identify potential refinancing opportunities with a focus on prepaid, balloon, and maturing loans
• Partner with Senior Asset Managers to develop proficiency in key asset management functions and subject matter expertise
• Support departmental initiatives and participate in designated subcommittees to advance strategic objectives

Security

• Comply with MassHousing’s Information Security Program and all other Agency information security policies and procedures
• Take responsibility for any Agency assets assigned to you
• Promptly report any security events, incidents, or weaknesses to MassHousing’s Information Security Team

Minimum Qualifications

• Proficiency with Microsoft Office Suite
• Valid driver’s license and ability to travel to Massachusetts properties as needed
• Eligibility to work in, and travel freely to and from, the United States without sponsorship

Preferred Qualifications

• Bachelor’s degree in Finance, Real Estate Management, Business Administration, or related field
• 2+ years of asset management or multifamily housing experience
• Energetic team player who has exceptional interpersonal skills, takes initiative, and has a dedicated focus on high-level customer service
• Strategic thinker with the dual capacity to see the big picture and attend to details
• Effective and resourceful problem solver
• Exceptional oral and written communication with comfortability in communicating at all levels of the Agency
• Comfortable multitasking, adjusts quickly to shifting priorities, and manages time efficiently in a fast-paced environment with limited supervision

Salary Range: $80,493.30 - $104,641.29

MassHousing is an Equal Opportunity Employer