Asset Manager

New York State Homes & Community Renewal; City of Syracuse (NY); On-site; USD 65,000 - 95,000; Full time

Benefits offered by this job

Health Insurance

New York State Retirement System

Paid Parental Leave

Paid Family Leave

Promotional Opportunities

Paid Time Off (vacation, sick, etc.)

Flexible scheduling

Job summary

New York State Homes and Community Renewal (HCR) seeks an Asset Manager within the Housing Trust Fund Corporation unit to monitor compliance for a portfolio of affordable housing projects funded by HTF, TKEY, HOME, LIHC and related programs. The role involves on-site inspections, financial review, and coordination with owners and managers to ensure regulatory adherence.

You will analyze reports, implement corrective actions, and contribute to sustaining long-term project health while traveling

Qualifications

• Bachelor’s degree in real estate finance, accounting, or business administration.
• Minimum of 2 years’ experience in property management of affordable housing.
• Excellent analytical, organizational, problem-solving, and written/oral communication skills.
• Certification and/or proficiency with HUD 4350 Requirements and LIHC compliance preferred.
• Proficiency in Microsoft Office (Word, Excel, PowerPoint) is essential.
• Occasional overnight travel and a valid NYS driver's license are required.
• Physical capacity to perform unrestricted travel and on-site inspections.

Responsibilities

• Comprehensive compliance monitoring of a designated portfolio of projects for regulatory compliance, physical and financial status and habitability standards.
• Conduct on site file reviews and physical inspections of LIHTC/HOME/Housing Trust Fund/Turnkey/SLIHC/HUD236 projects.
• Interact with Owners and property managers regarding operation and management of properties; perform site inspections and evaluations.
• Implement and enforce regulatory requirements regarding financial reporting, use restrictions, lease analysis and set-aside requirements.
• Develop recommendations to enhance long-term financial and physical health of projects.
• Review financial and operating reports submitted by project owners and submit periodic status reports.
• Prepare field reports, correspondence, and follow-up to site visits.
• Instruct managing general partners and site staff on best management practices for compliance.

Skills

Analytical skills

Organizational skills

Problem-solving

Written & verbal communication

Education

Bachelor’s degree in real estate finance, accounting, or business administration

Tools

HUD 4350 compliance

LIHC compliance

Microsoft Office

Job description

New York State Homes and Community Renewal (HCR) is the State’s affordable housing agency, with a mission to build, preserve, and protect affordable housing and increase homeownership throughout New York State.

This position is with HCR's Housing Trust Fund Corporation (HTFC).This is not a civil service position and does not require a civil service exam. Candidates must meet the minimum qualifications outlined below to be considered.

NYS Homes and Community Renewal (HCR) is committed to fostering a culture of diversity, equity, inclusion, and accessibility. Our work would not be possible without the diverse backgrounds, experiences, ideas, and abilities of our employees. HCR is committed to developing a workforce that represents the diverse population of New York State. HCR embraces a diverse and inclusive work environment by encouraging all individuals, including those with disabilities, to apply to open positions at the agency.

The Asset Management Unit

is responsible for the asset management and compliance monitoring of the Agency’s existing affordable housing portfolio. This portfolio has been financed under various loan and subsidy programs including HTF, TKEY, HOME, LIHC and SLIHC.

DUTIES AND RESPONSIBILITIES:

• Comprehensive compliance monitoring of a designated portfolio of projects in the Asset Management portfolio financed by the HTFC and/or DHCR including HTF, TKEY, HOME, LIHC and SLIHC for regulatory compliance, physical and financial status and habitability standards.
• Conduct on site file review and physical inspections of LIHTC/ HOME/Housing Trust Fund/ Turnkey/ SLIHC/HUD236/Mitchell Lama/HCR projects.
• Interact frequently with Owners and property managers regarding the operation and management of the property; perform periodic site inspections and management evaluations as required by the project’s regulatory agreements and Agency policy.
• Implement and enforce the Agency’s regulatory requirements regarding financial reporting, property use restrictions, lease analysis and the low-income unit set aside requirements;
• Develop recommendations to enhance the long term financial and physical health of projects assigned to the Asset Manager
• Review financial and operating reports submitted by project owners; upon request, submit periodic Physical and Financial Status reports. Reviews project operations and record keeping for compliance with applicable laws and regulations;
• Prepare field reports, correspondence, and corresponding follow-up to site visits;
• Instructs managing general partners, managing agents and site staff on proper management practices for improving overall operation and compliance with applicable program requirements.
• Develop, implement and manage corrective action to resolve project non-compliance issues and enhance physical and financial performance of portfolio projects;
• Perform on-going project maintenance activities including review of rent increases, reserve withdrawals, insurance, leases and repair requests.

QUALIFICATIONS:

• Bachelor’s degree in real estate finance, accounting, or business administration, preferred. *
• Requires minimum of 2 years’ experience in property management of affordable housing or closely related field, which may include real estate finance and/or accounting or business administration.
• Excellent analytical, organizational, problem-solving, computer & communication (oral & written) skills are essential.
• Certification and/or proficiency with HUD 4350 Requirements and Low-Income Housing Tax Credit Program Compliance, preferred.
• Proficiency in Microsoft Office (Word, Excel, and PowerPoint) are essential.
• Occasional overnight travel and a valid NYS driver’s license are required.
• Physical capacity to perform unrestricted travel and conduct building, unit inspections and on-site regulatory compliance audits.

*Substitutions: four years of specialized experience or associate degree and two years of specialized experience may substitute for bachelor’s degree; J.D. or master’s degree may substitute for one year of specialized experience; Ph.D. may substitute for two years of specialized experience.

This job description is not intended to be all inclusive and employee will be expected to perform other reasonably related duties as assigned.

APPLICANTS MUST INCLUDE A RESUME

WHAT WE OFFER AT NYS HCR:

• Extensive benefits package including participation in New York State’s Health Insurance Program and New York State & Local Employees’ Retirement System.
• Promotional opportunities for dedicated professionals.
• Work-life balance benefits including a 37.5-hour work week, opportunity for compressed scheduling, and paid time off benefits (vacation, sick, personal days, and federal holidays).
• 12 weeks of Paid Parental Leave.
• Paid Family Leave.
• As a New York State employee, you may qualify to participate in the Federal Public Service Loan Forgiveness Program (PSLF). The PSLF Program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under an accepted repayment plan and while working full-time for an eligible employer.

ABOUT NEW YORK STATE HOMES AND COMMUNITY RENEWAL:

Under the leadership of Governor Kathy Hochul and Commissioner RuthAnne Visnauskas, HCR is a vibrant, innovative agency that integrates and leverages New York State’s housing resources. We have offices in New York City, Albany, Buffalo, and Syracuse, and employ a diverse workforce of professionals who are hard-working and committed to serving low- and moderate-income families. Our mission is far-reaching, encompassing single and multifamily housing finance, home improvement, rent regulation, housing subsidies, and community development. We partner regularly with a variety of public and private stakeholders.

Achieving this mission requires a wide range of skills and backgrounds in public policy, administration, real estate, construction, finance, law, and many other areas of expertise. We seek to provide a workplace environment that is productive, flexible, accountable, ethical, and caring. Our employees are empowered to make a difference where they live and work. We offer competitive pay and a comprehensive benefits package, including paid leave, health, dental, vision, retirement, and family-friendly policies.

New York State is an Equal Opportunity Employer (EOE)