Asset Manager

MassHousing • Full-time • Boston, MA • $80k - $105k / year • 2d ago

Asset Manager

Location: Boston, MA

About the Employer

MassHousing confronts the Commonwealth's housing challenges to improve the lives of its people. Since its inception in 1966, MassHousing has provided more than $29 billion for more than 125,000 apartments and more than 105,000 home mortgage loans. The organization works to promote economic growth and empowerment for families, individuals, and businesses; help communities increase their housing stock; provide hope and homes for vulnerable populations; and look for new, cost-effective ways to provide equitable housing opportunities.

Role Summary

The Asset Manager oversees the financial performance and physical condition of financed housing developments. This role ensures ongoing compliance with affordability requirements and program regulations for strong-risk properties and developments within the HUD PBCA portfolio. The Asset Manager is a primary point of contact for owners, management agents, and residents and responds to inquiries from federal, state and local partners. This position reports to the Portfolio Manager.

MassHousing operates under a hybrid work model; therefore, employees are expected to work on-site according to a schedule determined in collaboration with their manager and based on the needs of the role. To support effective onboarding, new employees may be required to work in the office more frequently during their first 90 days.

What You'll Do

Compliance and Regulatory Oversight

Conduct and document property inspections to evaluate operational efficiency, financial management, and adherence to applicable federal, state and MassHousing program and loan requirements
Monitor loan compliance and assess financial, physical, and regulatory risk ratings to accurately represent a property's overall risk profile ensuring informed decision-making and appropriate action plans
Update Asset Management watchlist and develop risk mitigation plans as needed

Financial Analysis

Evaluate annual budgets and capital improvement plans provided by ownership or management agents
Analyze audited financial statements to assess performance, identify issues, confirm cash flow obligations, and recommend distribution approvals to Portfolio Manager
Analyze capital needs studies to evaluate adequacy of replacement reserve escrows and recommend strategies to address funding shortfalls to Portfolio Manager

Relationship Management

Serve as an active member of Deal Teams by collaborating with the Senior Asset Manager and providing comparable development data and operating budget analyses for Rental Lending and Underwriting staff
Collaborate with Business Development and identify potential refinancing opportunities with a focus on prepaid, balloon, and maturing loans
Partner with Senior Asset Managers to develop proficiency in key asset management functions and subject matter expertise
Support departmental initiatives and participate in designated subcommittees to advance strategic objectives

Security

Comply with MassHousing's Information Security Program and all other Agency information security policies and procedures
Take responsibility for any Agency assets assigned to you
Promptly report any security events, incidents, or weaknesses to MassHousing's Information Security Team

Required Qualifications

Proficiency with Microsoft Office Suite
Valid driver's license and ability to travel to Massachusetts properties as needed
Eligibility to work in, and travel freely to and from, the United States without sponsorship

Preferred Qualifications

Bachelor's degree in Finance, Real Estate Management, Business Administration, or related field
2+ years of asset management or multifamily housing experience

Physical Requirements & Working Conditions

All positions at MassHousing require a customer service mindset in accordance with our values: Respect, Service, Empathy, Accountability, Collaboration, and Inclusion. Candidates should be energetic team players with exceptional interpersonal skills, demonstrate initiative, and maintain a dedicated focus on high-level customer service. The ideal candidate is a strategic thinker with the dual capacity to see the big picture and attend to details, is an effective and resourceful problem solver, and has exceptional oral and written communication with comfortability in communicating at all levels of the Agency. Success in this role requires comfortable multitasking, the ability to adjust quickly to shifting priorities, and efficient time management in a fast-paced environment with limited supervision.

Compensation

$80,493–$104,641

Benefits

Tuition reimbursement up to $15,000 per calendar year, 35-hour work week with hybrid schedule, backup child/elder care, retirement savings including a pension and deferred compensation plan with match, comprehensive health, dental and vision plans, 12 paid holidays per year with generous sick, vacation, and personal time, short-term disability, and central Boston office location convenient to public transportation with on-site amenities.

How to Apply

Interested candidates should send a letter of interest and a resume to MassHousing by logging in to www.masshousing.com/workwithus.

Equal Opportunity Statement

MassHousing is an Equal Opportunity Employer. The organization is committed to standing with a workforce dedicated to diversity, equity, and inclusion.