Reporting directly to the VP of Asset Manager, 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 of 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 a several times a week and work closely with property management, accounting, and ownership investment teams. 

• Portfolio Management: Oversee a current and growing pipeline of properties and make strategic recommendations regarding operations: 
  • Responsible to provide strategic direction to 3^rd party Property Management Companies with the goal of achieving NOI projections and keeping the assets in-compliance with the respective local agencies, applicable regulations, and stakeholders.
  • Oversee and 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 3^rd party Property Management teams to ensure tenant satisfaction and resident retention.
  • Focus on underperforming assets and work closely with Asset and Property Management to devise and carry-out property strategies to bring assets performance back-on track.

• 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 including: 
  • Lead the overall budget process including capital repair projects and play a key role during the year-end process with auditors, management companies, and Gilbane accounting department.
  • Bi-annual recapitalization, refinancing, and/or disposition analysis
  • Monthly financial reporting to include a thorough understanding and reporting of expenditures not meeting budgeted expectations.
  • Required to perform a Bi-annual physical written assessment of entire portfolio.
  • Monthly internal portfolio/property-level reporting including project in construction, lease up, stabilization and conversion.
  • Monthly financial statement review including partner distributions, operating statements, rent rolls, delinquency reports, utility reports, leasing reports, etc. to ensure correct accounting and budget variance approvals.
  • Evaluate and analyze property taxes to minimize risk.
  • Participate and oversee the audit process for each asset.
• 3^rdParty Point of Contact: Lead and manage interactions with third-party investors, vendors and government regulators including:
  • 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 Rep on matters related to property insurance claims, repairs, tenants’ needs, and anything required to close-out claim. 

• Portfolio Value Maximization: Identify and manage issues and opportunities for revenue, expense and capital improvement optimization including:
  • 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; sub-market and forecasts trends that impact long/short term disposition and exit strategies.
• Internal Organizational Responsibilities:
  • Coordinates activities with other departments especially Finance and Accounting
  • Participates in monthly calls with the development team, property managers, and other partners.
  • Review and approve all RFP response and third-party contracts and ensure proper and consistent bidding and ultimate adherence to the contract terms.
  • Take the lead on assessing room for improvement regarding data management and reporting.

• 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, organization, 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 and able to work independently with the ability to meet deadlines, accomplish work in order of priority, professionally maintain composure and effectiveness under pressure.
• Must be willing to travel.

Salary to be determined by the 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.

Note to Recruiters, Placement Agencies, and Similar Organizations: Gilbane does not accept unsolicited resumes from agencies. Please do not forward unsolicited agency resumes to our jobs alias, website, or to any Gilbane employee. Gilbane will not pay fees to any third party agency or firm and will not be responsible for any agency fees associated with unsolicited resumes. Unsolicited resumes received will be considered property of Gilbane and will be processed accordingly.