Senior Asset Manager

Senior Asset Manager

Position Summary

The Senior Asset Manager provides owner-level oversight of CHAI's affordable housing portfolio, analyzing financial, operational, compliance, capital, and physical performance; overseeing third-party property management; and identifying risks, opportunities, and strategies to support long-term portfolio sustainability and preservation. The position serves as CHAI's day-to-day owner representative and collaborates with Housing Development, Finance, and Resident Services.

Essential Responsibilities

Portfolio Performance, Financial Analysis & Property Management Oversight

• Analyze monthly financial statements, occupancy, delinquency, budget variances, compliance, and other key performance indicators; identify trends, exceptions, and emerging risks.
• Monitor and evaluate third-party property management performance against CHAI ownership standards, approved budgets, management agreements, and performance expectations.
• Lead regular asset management meetings with third-party property management companies, establish performance expectations, and monitor follow-through on identified issues.
• Develop and maintain dashboards, watchlists, and performance tracking tools.
• Identify underperforming properties and material performance issues; recommend corrective actions and monitor resolution.
• Review annual operating and capital budgets and evaluate property and portfolio performance against approved budgets and owner goals.
• Conduct periodic property inspections and site visits and monitor physical condition standards and management plan implementation.
• Coordinate with Resident Services and property management regarding operational or property issues affecting resident experience and CHAI's mission objectives.

Strategic Planning, Capital Planning & Portfolio Preservation

• Develop and maintain asset management plans for each property.
• Monitor reserves, capital needs, debt obligations, and long-term replacement requirements.
• Review capital needs assessments, reserve studies, and other physical asset planning tools.
• Develop data-driven recommendations for recapitalization, refinancing, preservation strategies, and asset repositioning.
• Monitor debt maturities, regulatory milestones, subsidy contract renewals, and other critical events.
• Support portfolio cash flow forecasting, capital planning, and long-range portfolio planning.

Compliance, Risk Management & Reporting

• Oversee the maintenance of deal books, compliance calendars, ownership entity records, required filings, and critical portfolio documentation.
• Monitor compliance with regulatory agreements, loan documents, partnership agreements, management agreements, HAP contracts, LIHTC requirements, and lender/investor obligations.
• Oversee required owner, lender, investor, regulatory, and stakeholder reporting and coordinate responsibilities with property management, Finance, and other partners.
• Track audit, management review, REAC/NSPIRE, compliance, and other findings; identify recurring issues and ensure corrective actions are implemented and closed.
• Monitor property insurance coverage and requirements, identify potential gaps or issues, and escalate significant insurance or legal matters to the Vice President.
• Identify and escalate significant financial, operational, compliance, physical, and ownership risks.

Development, Preservation & Operational Transition Support

• Serve as Asset Management's representative in development, acquisition, refinancing, recapitalization, rehabilitation, and preservation activities and transactions.
• Provide an ownership and operations perspective on proposed scopes of work, operating and reserve assumptions, and management plans throughout the development and redevelopment process.
• Support transitions from development or rehabilitation to property operations.
• Participate in lease-up, stabilization, post-construction reviews, and other transition activities.
• Identify operational risks and lessons learned to inform future development and preservation activities.

Qualifications

• Bachelors degree in Finance, Accounting, Real Estate, Business Administration, or related field
• Minimum five years of progressively responsible experience in affordable housing asset management, housing finance, multifamily real estate or real estate development
• Demonstrated experience with HUD, LIHTC, PRAC, HOME, or other affordable housing programs and regulatory requirements
• Strong financial analysis skills, including property financial statements, operating budgets, variance analysis, cash flow, and capital planning
• Advanced Excel proficiency
• Experience working with third-party property management companies, lenders, investors, auditors, regulatory agencies, and other affordable housing stakeholders
• Experience with affordable housing refinancing, recapitalization, rehabilitation, or preservation transactions preferred

Core Competencies

• Financial and analytical acumen
• Strategic thinking and sound judgment
• Portfolio and risk management
• Accountability and follow-through
• Organization and prioritization
• Problem solving and decision-making
• Written and verbal communication
• Relationship management and cross-functional collaboration