Senior Asset Manager

Gilbane Building Company; New York (NY); On-site; USD 140,000 - 160,000; Full time

Job summary

An established industry player is on the lookout for a Senior Asset Manager to lead and manage a diverse portfolio of affordable housing assets in the vibrant NYC market. This hands-on role requires a deep understanding of the affordable housing sector, with responsibilities including compliance oversight, financial analysis, and strategic direction for property management. The ideal candidate will thrive in a dynamic environment, maximizing asset value while minimizing risk. Join a forward-thinking company that values employee development and offers a competitive compensation package, including health benefits and a robust retirement program. If you are ready to make a significant impact in the affordable housing sector, this opportunity is for you.

Benefits

Health and Welfare Benefits

Profit-sharing/401k Plan

Employee Education Investment

Training Programs at Gilbane University

Qualifications

• 10+ years of experience in tax credit, HUD, and asset management.
• Strong analytical, organizational, and communication skills are essential.

Responsibilities

• Oversee a diverse portfolio of affordable housing assets in compliance with regulations.
• Lead financial analysis and reporting to optimize operations and cash flow.

Skills

Analytical Skills

Organizational Skills

Critical Thinking

Communication Skills

Negotiation Skills

Multi-tasking

Education

Bachelor’s Degree

MBA

Tools

Property Management Software

Financial Analysis Tools

Job description

Overview

Reporting directly to the VP of Asset Manager, we are seeking a dynamic, experienced, driven Senior Asset Manager to join our team in the affordable housing sector in NYC. The successful candidate will be responsible for overseeing and managing a diverse portfolio of affordable housing assets, ensuring compliance with HUD, Section 8, and LIHTC regulations, maximizing asset value and minimizing risk. This role requires directing, evaluating, and managing all internal and external personnel assigned to his/her supervision (inclusive of third-party property management companies). The ideal candidate will have a deep understanding of the affordable housing market, strong financial acumen, and a proven history in asset management. This position will be hands-on and will be expected to visit properties several times a week and work closely with property management, accounting, and ownership investment teams.

Responsibilities

• Portfolio Management: Oversee a current and growing pipeline of properties and make strategic recommendations regarding operations:
  • Provide strategic direction to 3rd party Property Management Companies to achieve NOI projections and ensure compliance with local agencies, regulations, and stakeholders.
  • Manage a diverse portfolio of affordable housing assets, including Section 8 and LIHTC properties.
  • Ensure compliance with all relevant regulations, including HUD and LIHTC.
  • Develop and implement strategies to maximize asset value and minimize risk.
  • Conduct regular reviews of property performance, including financial analysis and property inspections.
  • Work closely with 3rd party Property Management teams to ensure tenant satisfaction and resident retention.
  • Focus on underperforming assets and collaborate with Asset and Property Management to devise and implement strategies for improvement.
• Financial Analysis and Reporting: Evaluate and analyze property and portfolio level financial performance, identifying ways to improve and optimize operations, cash flow, and long-term value:
  • Lead the overall budget process, including capital repair projects, and play a key role during the year-end process with auditors, management companies, and the accounting department.
  • Conduct bi-annual recapitalization, refinancing, and/or disposition analysis.
  • Provide monthly financial reporting, including an understanding of expenditures not meeting budgeted expectations.
  • Perform a bi-annual physical written assessment of the entire portfolio.
  • Deliver monthly internal portfolio/property-level reporting including projects in construction, lease-up, stabilization, and conversion.
  • Review monthly financial statements including partner distributions, operating statements, rent rolls, delinquency reports, utility reports, and leasing reports to ensure accurate accounting and budget variance approvals.
  • Evaluate property taxes to minimize risk.
  • Participate in and oversee the audit process for each asset.
• 3rd Party Point of Contact: Lead and manage interactions with third-party investors, vendors, and government regulators:
  • Oversee reporting of LIHTC investors, lenders, and on-site property management staff.
  • Attend and lead third-party inspections, financial reviews, and inspections with State Agencies and lenders.
  • Function as Owner’s Representative on matters related to property insurance claims, repairs, tenant needs, and claim closures.
• Portfolio Value Maximization: Identify and manage issues and opportunities for revenue, expense, and capital improvement optimization:
  • Assess and analyze all operational elements as part of a thorough risk assessment.
  • Oversee all capital projects.
  • Ensure assets are managed to the highest industry standards and in compliance with company standards.
  • Proactively analyze economic trends for each specific asset and sub-market, forecasting trends impacting long/short term disposition and exit strategies.
• Internal Organizational Responsibilities:
  • Coordinate activities with other departments, especially Finance and Accounting.
  • Participate in monthly calls with the development team, property managers, and other partners.
  • Review and approve all RFP responses and third-party contracts, ensuring proper bidding and adherence to contract terms.
  • Lead efforts to improve data management and reporting.

Qualifications

• Bachelor’s degree required; MBA a plus.
• Minimum of 10 years of professional tax credit, HUD, and asset management experience.
• Team-oriented with strong analytical, organizational, and critical thinking skills.
• Excellent communication and negotiation skills.
• Proficiency in relevant software, including property management and financial analysis tools.
• Highly organized with the ability to multi-task and set priorities with moving targets.
• Strong verbal and written communication skills.
• Initiative-taker able to work independently, meet deadlines, and maintain composure under pressure.
• Must be willing to travel.

Salary to be determined by education, experience, knowledge, skills, and abilities of the applicant, internal equity, and alignment with market data.

For New York, NY, this ranges from $140,000.00 - $160,000.00 plus benefits and retirement program.

Gilbane offers an excellent total compensation package which includes competitive health and welfare benefits and a generous profit-sharing/401k plan. We invest in our employees’ education and have built Gilbane University into a top training organization in the construction industry. Qualified applicants who are offered a position must pass a pre-employment substance abuse test.

Gilbane is an Affirmative Action/Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to age, color, national origin, race, religion, sex, sexual orientation, gender identity, protected veteran status, or disability status.