Massachusetts Jobs

Position Statement The Financial Asset Manager works closely with the Chief Financial Officer and Asset Management Team to ensure the long-term sustainability and financial viability of our affordable housing real estate portfolio. Essential Responsibilities - Oversee the performance of affordable housing properties, ensuring they meet financial and operational goals. - Develop a thorough understanding of each property and partnership, including but not limited to, Limited Partnership Agreements, loan documents, housing subsidy covenants and other legal documents. - Develop a thorough understanding of the challenges at each property to develop and implement strategies to improve performance. - Identify potential risks and develop mitigation strategies. Ensure proper insurance coverage for all properties, collaborate with Property Management Team to manage claims, and work with insurance providers to minimize risk exposure. - Supervise portfolio accounting staff. - Monitor financial performance, including budgets, expenses, and revenue. Prepare and review financial reports, variance analyses, and forecasts. - Prepare and review monthly property financial dashboard and operational report with Asset Management Team. Select properties that should be on the watchlist and provide a narrative as to the reason why and corrective action being taken to address issues causing watch list status. - Develop and present annual operating budgets for Board, partner and/or investor approval. - Manage outgoing communication regarding portfolio finance with Boards, partners, investors, local agencies, housing authorities and government entities. - Lead portfolio accounting staff in conducting annual audits, ensuring they are completed on time and result in the issuance of unqualified audit reports. - Work closely with Management and the Real Estate Development Team to property structure property rents, utility schedules, operating expense budgets, and reserve deposits and withdrawals to prepare a property for recapitalization and/or refinancing. Required Skills or Abilities - Strong understanding of affordable housing programs, including HUD, LIHTC, and other federal, state and local regulations. - Working knowledge of tax laws and generally accepted accounting principles - Strong financial analysis and budgeting skills - Strong communication skills, both written and verbal - Proficiency in Microsoft Office - Exceptional organizational skills including multi-tasking, prioritization, and meeting high priority deadlines. - Mission-driven and able to maintain strong values and seek creative solutions in a positive, team-oriented and judgement free environment. Education and Experience - Bachelor\'s degree in Accounting, Finance or Real Estate required. - 5+ years\' experience in asset management, property management, or a related field, preferably in affordable housing. Physical Requirements - Stationary work. Exerting up to 10 pounds of force occasionally to lift, carry, push, pull or otherwise move objects. - Repetitive motion. Substantial movements (motions) of the wrists, hands, and/or fingers. - The team member is required to have close visual acuity to view and work on a desk computer/laptop/iPad. - Work is performed in an office environment and requires the ability to operate standard office equipment (phone, fax machine, copy machine, postage machine, etc). - Must have the ability to walk short distances.