Asset Manager

Found in: Resume Library US A2 - 1 week ago

Philadelphia Pennsylvania, United States Pennrose Management Full time
Overview:
At Pennrose, the Asset Manager is responsible for monitoring the physical condition, measuring the financial performance, and managing the key relationships of the Pennrose Portfolio to optimize value for investors, lenders, partners, ownership, and the communities we serve. The Asset Manager position provides an opportunity to work with a growing and dynamic Asset Management & Analytics department within the established Pennrose organization.

 

The Asset Manager will report to the Director of Asset Management & Analytics and will work closely with other departments within Pennrose and various third-party management companies. The Asset Manager will work out of the Pennrose Philadelphia office.

 

Pay range: $90,000/year+ depending on experience.

 

Responsibilities:
Duties and Responsibilities:

 

Portfolio Oversight & ReportingResponsible for analyzing and measuring property financial and operating metrics and providing recommendations to property management to improve performance.

Establish measurable standards for property and portfolio performance.

Monitor and report on third-party property management companies’ performance

Understand financing, affordable programs, and regulatory requirements

Provide oversight for the Portfolio to remain in good standing with the applicable file & physical compliance requirements in governing documents such as loan agreements, operating agreements, tax credit programs, affordability restrictions, etc.

Understand all investor, lender, and agency reporting requirements and work collaboratively with other departments and third-party management companies to ensure requirements are met.

Monitor the physical condition of the Portfolio through regular inspections & site visits. Work with Capital Planning teams to ensure the long-term preservation and physical standards of Pennrose are maintained.

Establish metrics for the evaluation and development of long-term business strategies for all Pennrose properties

Develop a thorough understanding of each property and its challenges.

Collaborate with site-level operations teams to formulate and implement strategies for improvement.

Anticipate & prevent liability risks through monitoring of critical events, operational activity, & financial matters.

Manage ancillary revenue contracts and maximize financial benefit for Pennrose

Maintain processes for the review real estate tax assessments and management of tax appeals as necessary.

Portfolio Financial AnalysisResponsible for the aggregation and reporting of property level and portfolio financial performance to ownership

Review monthly, quarterly, and annually prepared operating statements.

Measure & manage property financial performance against projections & annual budgets.

Provide oversight of annual budgeting process for the Portfolio

Review tax returns & audits for the Portfolio

Respond to questions from lenders, investors, ownership, or other agencies on property financials.

Develop project operating forecasts to determine potential operational challenges, propose corrective actions, and identify opportunities for improvement.

Understand & analyze investment models and cash flow forecasts.

Portfolio Relationship ManagementInternal RelationshipsWork cross-functionally with other departments at Pennrose to develop and implement asset management plans, set operating benchmarks, and achieve defined property goals consistent with Pennrose strategic plans.

Participate in process improvement projects within and outside of the Asset Management & Analytics department

Prepare ownership reports on Portfolio performance, trends, goals, events, etc.

External RelationshipsDirect third-party managers in all areas of operations as Pennrose’s ownership representative.

Connect with funders, investors, and local partners as owner representative for Pennrose, developing trust and building consistent & constructive problem solving approaches.

Coordinate responses to questions from lenders, investors, and agencies

Qualifications:
Required Education and Experience:

 

Bachelor’s degree in accounting, finance or real estate preferred

5-7 years multifamily real estate/financial analysis experience; Affordable Housing sector experience highly desirable

Knowledge and experience with the Low-Income Housing Tax Credit Program gained from asset management, operations or development work experience a plus

Knowledge and experience other affordable housing programs centered on HUD, Rental Assistance Demonstration (RAD), public housing and other programs which support affordable housing a plus

Yardi experience a plus

Power BI experience a plus

Ability to learn quickly and desire to constantly learn about the complexities of the affordable housing business

Ability to multi-task and run projects simultaneously

Excellent communicator with proven ability to interface with a broad array of employees, stakeholders, and housing partners.

 

Knowledge, Skills, and Abilities:

 

Strong analytical skills, both quantitative and qualitative

Must be able to compile, monitor, examine various financial and performance reports

Ability to provide recommendations for changes or improvements to current processes

Excellent verbal and written communications skills to present to and work with senior management and ownership

Strong relationship management & problem solving abilities

Advanced Microsoft Excel; Strong Word, PowerPoint and Outlook skills

Strong work ethic, attention to detail, and commitment to meeting deadlines

Experience with accessing information from a GL Accounting System, Yardi preferred

 

Additional Requirements:

 

Requires the ability to travel

Valid driver’s license required

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