Senior Asset Manager, Equity

Description

The Senior Asset Manager will assist a team in managing the portfolio of multifamily properties syndicated through the Low-Income Housing Tax Credit “LIHTC” program. The main responsibilities include asset monitoring, financial analysis, risk assessment and reporting. The Senior Asset Manager will implement proactive strategies to maximize investment benefits. The position is ideally suited for an individual with strong analytical, financial and communication skills. This position requires travel. 

A successful Senior Asset Manager will effectively monitor the financial and operational performance of assigned LIHTC assets, proactively identify risks and under-performing properties, and execute strategies that protect and enhance portfolio value. 

Requirements

• Lead a small team of Asset Managers or Analysts, assisting in the oversight of their portfolios, along with managing your own assigned properties. 
• Review and analyze property operations to evaluate performance and risk factors. 
• Prepare quarterly investor reports and risk ratings based on review of financial statements, updated projections, and status reports. 
• Proactively identify under-performing assets or property concerns and implement workout strategies to maximize value. 
• Monitor construction and lease-up progress through the collection of construction draws, inspection reports, rent rolls and qualified occupancy reports. 
• Collect and analyze audited financial statements and tax returns and benchmark against initial projections.
• Oversee stabilization and loan conversion. 
• Maintain post-closing financial models. 
• Evaluate management companies’ experience, marketing plans, and compliance strategies prior to closing. 
• Develop and maintain strong relationships with general partners, lender representatives, management agents and local officials.
• Ensure properties are in compliance with the LIHTC program and engage third party compliance when necessary. 
• Facilitate the release of capital contributions.
• Conduct annual property site inspections. 
• Provide clear and concise communication to colleagues and clients when required.

Expected Experience, Skills and Education

• Requires strong analytical skills for reviewing and analyzing financial statements. 
• Requires the ability to use Microsoft Office & Outlook. 
• Requires strong written and verbal communication with colleagues and clients and the ability to work collaboratively.
• Requires excellent time management and organizational skills and a detailed approach to completing daily tasks. 
• 3+ years of relevant professional work experience with an emphasis in LIHTC asset management, and/or real estate development financial management. 
• Experience managing and training others in LIHTC Asset Management preferred. 
• Experience working in MRI Solutions (Investment Central/Integratec) a plus. 
• Bachelor’s degree from an accredited institution accepted with 3 to 5 years of relevant professional work experience with an emphasis in financial analysis, asset management, and/or real estate development financial management.

Our Benefits

Merchants offers a comprehensive package of benefits for eligible employees, including, but not limited to: 401(k) employer contributions; employee stock ownership plan (ESOP); medical, dental and vision insurance; various types of leaves of absence, including paid time off, paid holidays, paid leave as provided under state and local paid leave laws, and short-term and long-term disability; health savings accounts (HSAs), flexible spending accounts (FSAs), dependent care and commuter reimbursement accounts, employee and dependent life insurance and supplemental life and AD&D insurance; telehealth, optional ancillary insurance policies, education assistance, and an employee assistance program. Eligibility for benefits is governed by the applicable plan documents and policies.

ABOUT MERCHANTS CAPITAL

With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multifamily housing nationwide. Our licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways. Recognized as a top five affordable lender, Merchants Capital pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners. To learn more about Merchants Capital, visit www.merchantscapital.com.