Asset Manager

HACLA; Los Angeles (CA); On-site; USD 155,000 - 190,000; Full time

Benefits offered by this job

Medical/Dental/Vision Plan

PERS retirement

Flexible Work Schedules

Paid Time Off

Job summary

Housing Authority of the City of Los Angeles (HACLA) is seeking an Asset Manager to lead planning, development, and preservation of affordable housing with a focus on special needs populations. You will model full life-cycle financial analysis, supervise staff, and ensure compliance with regulations while coordinating with third-party management and partners.

The role emphasizes strategic budgeting, policy development, and overseeing capital investments across multiple properties to stabilize

Qualifications

• Bachelor’s degree in Finance, Public or Business Administration, or closely related field.
• Five (5) years progressively responsible experience in residential property management and multi-family housing portfolio management with minimum three (3) years supervisory experience.
• CPM (Certified Property Management) certification preferred.

Responsibilities

• Lead asset management activities for HACLA-owned or affiliated developments.
• Develop and implement leasing, management plans, and related documents.
• Oversee capital investments, budgeting, and cash flow for a growing portfolio.
• Coordinate with third-party management, service providers, and contractors.

Skills

Budgeting and financial management

Property management supervision

Team leadership

Education

Bachelor’s degree in Finance / Public or Business Administration

CPM certification preferred

Job description

Special Note

The posted salary is an estimate of the potential annual pay. Final offer will be dependent on qualifications and experience.

Anticipated Hiring Pay Scale: $154,564.80 - $190,112.00 Annually

• POSITION OPEN UNTIL FILLED***

DEFINITION

Under the general direction of the Director of Asset Management, this position performs a wide variety of tasks related to the planning, development, and preservation of affordable housing with a specialization in housing for special needs populations such as homeless, at risk of homelessness and elderly. The Asset Manager will be responsible for conducting the analysis, recommendation, partnership activities, and implementation strategy of a portfolio of developments owned or operated by Housing Authority of the City of Los Angeles (HACLA) or affiliated partnerships, and organizations. The incumbent will be responsible for the financial viability of a significant and growing housing portfolio, including oversight of third-party management, services, government and institutional partnerships, capital investments, market research and analysis, and buy/sells/hold strategies.

• Provides pre-acquisition input and assistance in due diligence process, including review of financial and operational assumptions, and supporting the effort originating and negotiation of debt financing.
• Models full life cycle financial analysis for each asset from acquisition through development and long-term operation.
• Develops all associated policies and documents including leasing and management plans, tenant leases, operation and safety manuals.
• Ensure all properties meet HACLA-imposed, local, state and/or federal building and operation requirements or best practices.
• Assists in negotiations of contracts with all third parties including but not limited to service providers and property management agents; and oversees all details of property readiness and lease up.
• Assesses, approves and oversees implementation of capital investments on an annualized basis and is responsible for property cashflow and stabilization. Lead staff of maintenance, clerical, custodial, paraprofessional and professional personnel with encouragement and innovation; creating a team-based cooperative approach.
• Meets regularly with management, service staff and tenants to ensure properties are functioning well and makes recommendations for any changes in policy or procedure to adapt the building to current and future needs.
• Develops approach to all asset management activities to ensure that HACLA is creating communities of care that value and respect the diversity of resident needs, ensure a safe environment for all tenants, and develop a sense of home.
• Responds effectively to management issues or emergencies.
• Ensures clear lines of communication are established between HACLA and its third parties as well as amongst and between all third-party contractors working within any one development or project.
• Monitors project finances for conformity to budget, negotiates financial restructuring and/or amends regulatory agreements as necessary to stabilize and/or expand operations.
• Develops and updates records of outstanding indebtedness of partnerships; administers partnership funds, including collection of capital contributions, banking, and disbursements of funds.
• Assist Finance in the preparation of tax returns, quarterly and annual financial statements; manage cash flow, distribution analysis and investment projects.
• Works closely with in-house accounting personnel to manage asset performance for a multi-family housing portfolio; monitors operating results and forecasts financial activity.
• Lead and participate in internal and external team meetings; prepare reports and presentations to executives, external partners, and the public; participate in trainings and conferences and regional meetings to ensure HACLA is aligned with regional systems serving homeless, at risk of homelessness, seniors and other special need populations.
• Negotiates third party services and management contracts.
• Implement or evaluate Property Management plans; assist in the preparation and monitoring Asset Management Annual Budget.
• Performs other tasks as may be assigned.

Knowledge, Skills And Abilities

Knowledge of: Principles and practices of organization, administration, budgeting and financial management. Principles and practices of property maintenance and operations. Principles and practices of supervision and training. Principles and practices of real property asset management. Principles and practices of health and human services with an emphasis on housing-based programs. Research methods, statistical analysis and techniques and methods of report preparation and presentation. Principles of budgeting, accounting and finance methods. Applicable Federal, State, and local laws and regulations.
Ability to: Effectively use technology and software to track data, budgets, tenant information, create reports and presentations. Develop long-range plans consistent with established goals, objectives and available resources. Assess and resolve problems effectively and efficiently. Manage and generate resources. Manage personnel, multiple projects and operations simultaneously; effectively prioritize work and ensure timely completion of projects. Perform a broad range of supervisory responsibilities. Adapt to changes in budget and priorities. Use multiple resources, quantitative, and qualitative research methodologies to capture and interpret information. Properly interpret and make decisions or recommendations in accordance with laws, codes, regulations and policies. Present ideas effectively, orally and in writing. Work constructively and maintain effective relationships with a wide range of people and position levels in a manner that reflects well upon HACLA and accomplishes work in an effective and efficient manner.

Qualifications

Bachelor’s degree from an accredited college or university in Finance, Public or Business Administration, or a closely related field, AND a minimum of five (5) years progressively responsible experience in residential property management and multi-family housing portfolio management with a minimum of three (3) years of supervisory experience in the fields of Asset or Property Management. CPM (Certified Property Management) certification preferred.

Possession of, or ability to obtain, an appropriate, valid California driver’s license. Employees must maintain a driving record, which meets the insurability requirement of the Housing Authority’s carrier.

APPLICATION PROCESS

Applications will be reviewed for relevant experience, education, and/or training. Applications must be detailed and complete for proper evaluation. Resumes may be included but may not be submitted in lieu of application content. Only the most-qualified applicants will be considered and may be invited to the interview and selection process.

SELECTION PROCEDURE

Applications will be reviewed for relevant experience, education and training. The application must be detailed and complete for proper evaluation.

HIRING INFORMATION

All job offers are contingent upon successful completion of a pre-employment evaluation, which includes: a post-offer medical examination (includes drug and alcohol screening), criminal records check, employment history and education verification, and documentation of the right to work in the United States.

CANDIDATES will start at step one of an eight step salary range unless there are special exceptions in accordance with agency Personnel Rules.

DISABILITY ACCOMMODATION

Testing Accommodations: If you require an accommodation due to a physical, mental or learning disability, please call [phone] for special assistance. Special testing accommodations may be arranged if verification of the disability is provided by a physician, rehabilitation counselor, or other authority.

Candidates who require a reasonable accommodation in any portion of the selection process should state their need in writing when submitting an application.

NOTE: The provisions of this announcement do not constitute an expressed or implied contract and any provisions contained in this announcement may be modified or revoked without notice.

We are an Equal Opportunity/Affirmative Action Employer.

Required

Pursuant to the Housing Authority of the City of Los Angeles' Conflict of Interest Policy, new and existing employees are required to refrain from participating in activities, employment or enterprises, which are in conflict with public interest and/or with his or her duties as an employee of the Authority. A copy of the Conflict of Interest Policy may be obtained by visiting our website at: http://www.hacla.org/Portals/0/Attachments/Others/ConflictofInterestPolicy.pdf

HACLA Benefits

• Medical/Dental/Vision Plan: HACLA will provide up to 100% of the CalPERS medical premium rate for Los Angeles, San Bernardino & Ventura Counties Kaiser rates for employee only, employee + one dependent, and employee + multiple dependents as applicable
• HACLA will provide 100% of basic Dental HMO rates for employee only, employee + one dependent, and employee + multiple dependents as applicable
• HACLA will provide 100% basic Vision coverage for employee only, employee + one dependent, and employee + multiple dependents as applicable
• $250 OPT OUT payment is available for employees with a qualifying health plan outside of the employer network.
• Employees have the option to choose additional optional insurance such as Dental PPO, Custom Vision, additional medical coverage, and voluntary additional life insurance.
• HACLA will provide 100% of STD/LTD/Mandatory Life premiums for all eligible employees to maintain the IRS 125 Plan
• HACLA retirement plan is the Public Employees' Retirement System (PERS). Vesting is five (5) years.
• For Classic members, the pension formula is 2.7% at 55 with members contributing 8% of their wages towards their retirement.
• For PEPRA members, the pension formula is 2% at 62, with members contributing 7.75% of their wages towards their retirement.
• CalPERS will make the determination regarding the type of membership for which the eligible employee will qualify.
• Annual leave accruals vary, depending upon the type of job/position (membership in employee organizational group) and years of service. Length of service increases accrual rates by employee organizational group when service requirements are met.
• Newly Hired Annual Accruals:
  • At-Will/Non-Represented accrual per pay period 5.23 hours (17 days annually)
  • Council of Housing Professionals-Management accrual per pay period 4.15 hours (14 days annually)
  • Council of Housing Professionals-Administration accrual per pay period 6.78 hours (22 days annually)
  • Service Employees International Union (Local 721) accrual per pay period 6.78 hours (22 days annually)
  • Los Angeles County Building and Construction Trades Council accrual per pay period 5.23 hours (17 days annually)
  • American Federation of State, County and Municipal Employees accrual per pay period 6.78 hours (22 days annually)
• 14 Observed Holidays:
  • New Year's Eve; New Years Day; Martin Luther King Jr’s Birthday; President's Day; Cesar Chavez Day; Memorial Day; Juneteenth; Independence Day; Labor Day; Veteran’s Day; Thanksgiving Day; Day After Thanksgiving; Christmas Eve, and Christmas Day.
• 12 Floating Holiday hours annually
• Opportunity to earn up to 160 hours of Paid Time Off (PTO) for eligible exempt employees as comp time per calendar year. Employees may cash out up to 160 hours of accrued and unused PTO annually.
• Pre-Tax Deferred Compensation 457 Plan
• Group term life insurance
• Flexible Spending Account Options
• Tuition Reimbursement Program
• Employee Assistance Program
• Flexible Work Schedules
• Partial Telework Program
• Kaiser Medical Insurance - 50% employer covered medical through Kaiser Permanente if working 30 hours or more per week.
• Paid Sick Time - At least 40 hours or 5 days of sick leave after 90 days of employment.
• Eligible casual employees may enter as Classic or PEPRA members if qualifying requirements are met.
• Per-Diem employees are not eligible for the Public Employee Retirement System (PERS).
• Availability of benefits are dependent upon employment eligibility status with HACLA