Sr. Asset Manager

New York State Homes & Community Renewal; Buffalo (NY); On-site; USD 70,000 - 100,000; Full time

Benefits offered by this job

Health Insurance

Pension/Retirement

Promotional opportunities

Work-life balance

Paid Parental Leave

Paid Family Leave

PSLF program

Job summary

New York State Homes and Community Renewal (HCR) seeks an experienced asset manager for statewide LIHTC/HUD program compliance across its existing portfolio. The role focuses on on-site audits, regulatory enforcement, and collaboration with property owners and managers to sustain program integrity.

Applicants must have a bachelor’s degree and LIHTC experience, plus supervisory skills; LIHTC certifications are required. HCR offers extensive benefits, a 37.5-hour week, and growth opportunities.

Qualifications

• Bachelor’s degree and 4 years of LIHTC compliance experience required.
• LIHTC Certifications required.
• 2 years minimum supervisory experience.
• Ability to establish effective working relationships.
• Excellent oral and written communication skills.
• Strong analytical and organizational skills.
• Substitutions: four years of specialized experience may substitute for bachelor’s degree; advanced degrees may substitute for experience.

Responsibilities

• Conduct on-site compliance audits and inspections for LIHTC/HOME/HTF and related programs.
• Enforce agency regulatory requirements on financial reporting and rent set-asides.
• Review financial/operating reports and submit periodic status reports.
• Prepare field reports and correspondence after site visits.
• Maintain Prolink/SHARS/Samis systems and data imports.
• Supervise and mentor asset managers.
• Lead 8609-related compliance reviews and documentation.
• Prepare income limit and rent charts when HUD updates charts.
• Collaborate with owners to improve project performance and compliance.
• Instruct partners on best management practices to ensure compliance.

Skills

LIHTC compliance

Supervisory

Communication skills

Analytical skills

Organizational skills

Education

Bachelor’s degree

LIHTC Certifications

Tools

Prolink

SHARS

Samis

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 Office of Housing Preservation manages HCR programs that maintain and enhance the state's portfolio of existing affordable housing. We enforce the Rent Laws in New York City for over 900,000 housing units, while providing federal and state rental assistance to assist more than 45,000 families across the state. We also monitor 130,000 low income housing units financed with federal and state resources, and provide grant funding to help homeowners and tenants save energy.

Statewide Asset Management Unit is responsible for the asset management and compliance monitoring of the Agency's existing housing loan portfolio. This portfolio has been financed under various loan and subsidy programs including the Secured Loan Rental Program, the Section 8 Mod Program (Allenhurst Apts.) and the Mobile Home Cooperative Program.

DUTIES AND RESPONSIBILITIES:

• Conduct on-site LIHTC/HOME/Housing Trust Fund/Turnkey/SLlHC/HUD 236/Mitchell Lama/HCR financed/supervised property compliance audits/physical inspections for assigned portfolio 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. Review project operations and record keeping for compliance with applicable laws and regulations
• Prepare field reports, correspondence, and corresponding follow-up to site visits in a timely manner
• Maintain Prolink/SHARS/Samis: setup compliance requirements for new projects, establish applicable income limits and rent maximums in system on an annual basis, import Annual and Monthly reports onto the systems
• Supervise, train, and mentor a team of asset managers.
• Pre8609 Reviews: investigate and determine compliance requirements for projects about to be issued 8609s, evaluate annual tenant events in Prolink or any other software used by HCR to ensure that projects are fulfilling all compliance responsibilities as of the issuance date and are performing due diligence in fulfilling federal, state, and local requirements.
• Prepare project-specific income limit and rent charts for assigned portfolio when HUD publishes new MTSP and HERA charts.
• Prepare, evaluate, and import financial data into project's annual risk analysis for assigned portfolio.
• Work with project owners and managers to prepare materials, recommend solutions, action plans, or strategies that will ensure compliance and improve project performance.
• Instructs managing general partners, managing agents and site staff on proper management practices for improving overall operations and compliance with applicable program requirements
• Perform on-going project maintenance activities including review of rent increases, reserve withdrawals, tax and insurance escrows, leases and repair requests. Supervise work assignments, field audits, and schedules of assigned team Assist in other functions/duties of the Statewide Asset Management Unit

QUALIFICATIONS:

• Bachelor’s degree and 4 years of LIHTC compliance experience required*
• LIHTC Certifications required.
• 2 years minimum supervisory experience
• Ability to establish effective working relationships
• Excellent oral and written communication skills.
• Strong analytical and organizational skills.

*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 the 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)