Position Summary:
The Asset Manager is responsible for the financial, compliance, and physical performance of the cumulative housing portfolio of both South Mississippi Housing Authority (SMHA) and its non-profit instrumentality, South Mississippi Housing and Development Corporation (SMHD). The position is tasked with ensuring all properties and housing programs meet industry standards and serve the Agency’s Mission, Vision, and Core Values. Responsible for assessing property performance and leading solutions to both routine and complex challenges, analyzing financial performance, assisting in in the development of new capital projects, and ensuring SMHA continues to provide quality housing for current and future generations of residents. The position is directly responsible for continual performance evaluation of each property site, strict compliance with all LIHTC, HUD, and other affordable housing requirements, and assuring resident access to services and programming. The position will also directly supervise the internal compliance, fraud investigations, and process improvement teams.
ESSENTIAL POSITION DUTIES
The statements contained here reflect general details as necessary to describe the principal functions of this job, the level of knowledge and skill typically required and the scope of responsibility but should not be considered an all-inclusive listing of work requirements. Individuals may perform other duties as assigned including work in other functional areas to cover absences or relief, to equalize peak work periods or otherwise balance the workload.
1. Financial Performance: Provide financial oversight of SMHA/SMHD-owned properties to include drafting of operating budgets, monthly financial review of all properties (owned and other) to include performance against budget. Acts swiftly to address budget variances that exceed 5% and identifies corrective actions in such cases.
2. Capital Planning & Management: Works closely with the finance department and the Construction and Capital Projects Manager to create an annual Capital Projects Budget for SMHD-owned properties. Maintains Property Condition Needs Assessment (PCNA) reports for all SMHD properties. Reports should be updated every 5 years. Ensure adequacy of capital reserves and make recommendations to the President and Treasurer. In coordination with third party Property Management and the Construction and Capital Projects Manager, oversee capital projects including scoping, selection of consultants and contractors, securing necessary approvals, completion of construction and monitoring of budgets.
3. Property Management & Operations: In collaboration with both internal and third-party Property Management, ensure the properties are managed and operated to industry standards. Ensure that regular and accurate reports are provided as necessary to evaluate performance. Periodically review and update lease policies and procedures and ensure compliance. Work strategically to implement cross department and property specific changes to improve operational efficiency. Facilitate coordination and collaboration between third party Property Management and Resident Services to support housing stability, lease enforcement and community building. Make regular onsite inspections. Ensure the development and collection of an annual satisfaction survey.
4. Compliance: Manage relationship with funding agencies and lenders. Implement procedures to ensure compliance with all federal, state, and local funding and requirements to include LIHTC, HUD, and all other affordable housing programs. Maintain regulatory and loan documents and records. Works with the Director of Finance to review and approve annual audits and tax returns for Low-income Housing Tax Credit (LIHTC) properties. Develop and maintain a file review system that assures all voucher program and unit files are checked for applicable compliance requirements on an annual basis.
5. Risk Management: Develop overall risk management strategies for the portfolio, identification of risks, insurance structuring, emergency preparedness, training, compliance, and property management policies. Review submission of insurance claims and participate in annual insurance renewal negotiations.
6. Development/Redevelopment: Working cooperatively with other staff/departments and third-part development partner(s), prepares periodic property inspection reports on status of new construction and or rehabilitation project activities and maintains those records related to the work.
7. Pre-Development Planning: Assist the Executive Director/President in evaluating potential developments and provide input on design and operating budget proformas for projects in various stages of the pipeline. Manage initial lease-up activities for new properties. Coordinate delivery of all required documents to third-party development partner(s) for LIHTC and other funding applications.
8. Other duties as assigned.
LEADERSHIP EXPECTATIONS
- As a member of the senior leadership team, the Asset Manager promotes a positive, diverse, equitable and inclusive work environment for all staff; promoting and exemplifying the Agency’s Mission, Vision, and Core Values.
- Participates in cross department coordination and collaboration to ensure that programs, policies, and procedures are consistently applied and reach maximum efficiency.
- Staff liaison with Executive Director/President to Board as necessary.
- Serves as organizational representative to greater community, partner agencies, constituent groups, and government agencies.
KNOWLEDGE/SKILLS/ABILITIES:
· Ability to model complex financial transactions in various software programs.
· Knowledge of HUD, LIHTC, city, state, and the Agency's regulations, policies, and procedures.
· Knowledge of real estate property and asset management operations.
· Knowledge of Fair Housing, Equal Opportunity, and Nondiscrimination laws and regulations.
· Ability to understand, interpret, explain, and apply detailed and complex regulations, policies, and procedures governing the administration of assisted housing programs.
· Strong analytical skills and experience in financial analysis (NPV, IRR, lease comparison, ROI, DCF modeling, payback, analyzing financial statements, etc.)
· Advanced verbal and written communication skills and the ability to present effectively to both small and large groups.
· Ability to determine, calculate, tabulate, or summarize data/information and includes performing subsequent actions in relation to these computational operations.
· Ability to establish priorities in workload and to assure continuity of workflow.
· Self-motivated and proactive with the ability to work both independently and as a team player.
· Strong work ethic and commitment to meeting aggressive deadlines, handling multiple projects, setting priorities, thinking creatively, and bringing fresh ideas to the team.
· Ability to establish and maintain effective working relationships with co-workers and persons outside of SMHA.
· Ability to prepare clear and concise narrative and statistical reports and deal effectively with situations requiring tact and diplomacy, yet firmness.
· Considerable skills in operating appropriate computer equipment, applicable software, and general office machines.
EXPERIENCE & EDUCATION
· BA/BS degree in finance, real estate, economics, or another related subject
· A minimum of 10 years’ experience in asset management and property management.
· A minimum of 5 years of management or supervisory experience.
· Proficient in Excel and other Microsoft Office products.
· Knowledge of property management software; Yardi preferred.
· Certification in LIHTC Compliance from an organization approved by the Mississippi Home Corporation. Must obtain this certification within six (6) months and maintain throughout employment.
· Valid driver's license
The position requires use of an agency vehicle, and the employee must possess and maintain a current Mississippi state driver’s license in good standing with a good driving record. However, an applicant with a valid out of state driver’s license that is a current military dependent or resides outside the state of Mississippi will not be required to have an in-state driver’s license.
Physical Requirements:
The physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. The employee is regularly required the ability to sit and walk, to periodically adjust and focus vision, to use arms, hands and fingers to manipulate files, folders, reach with hands and arms, talk and hear. Employee must be able to physically lift and/ or move materials, boxes, or folders weighing up to 25 pounds. Employee may encounter stress and must be able to handle stress. Employee must be physically able to work in various locations, conditions and conduct various activities at various public housing sites. Also, during the workday must be able to maintain a sitting position while driving or as a passenger to distances in the regional area without stopping. The employee may be exposed to unfavorable conditions during the inspection process.
SMHA is fully committed to abiding by all equal opportunity employment standards. Our employment policies strictly prohibit all forms of discrimination on any of the grounds in relevant laws. All our employment practices are solely based on individual merit and our organization's needs at the time.
Pay: $55,000.00 - $65,000.00 per year
Benefits:
- Dental insurance
- Employee assistance program
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Professional development assistance
- Retirement plan
Work Location: In person
