Asset Manager

Summary

Under the direction of the Director of Asset Management, the Asset Manager is responsible for maintaining a portfolio of assets owned and/or operated by the District of Columbia Housing Authority (DCHA) to ensure physical and financial well-being. The Asset Manager ensures compliance with financial regulations; oversees property operations through third-party management contractors; performs a wide variety of record-keeping, reconciliation, monitoring, reporting and financial support activities. The Asset Manager serves as a liaison regarding financing regulations and property operations with DCHA staff, vendors, contractors, and outside agencies while working independently, exercising judgment and initiative with only occasional instruction or assistance as new or unusual situations arise, and are fully aware of the operating procedures and policies of the work unit.  

This position plays a key role in supporting the Director of Asset Management to determine the appropriate operational and financing strategies of DCHA owned real estate and recommend actions, based on those strategies, to maximize DCHA and investor returns and values, while ensuring compliance with all regulatory and lender requirements.

DCHA’s portfolio includes approximately 7,922 public housing units across more than 72 multifamily communities and over 15 scattered site units, and various parcels of vacant land with a DCHA ownership interest.  DCHA has a robust development pipeline and may pursue acquisition opportunities as may be necessary, to meet its mission.

All activities must support the District of Columbia Housing Authority's strategic goals and objectives and produce results that accomplish the goals of the Office of Asset Management.

 

Salary Range-$120,390 - $157,082

 

Essential Duties and Responsibilities

The below statements are intended to describe the general nature and scope of work being performed by this position.  This is not a complete listing of all responsibilities, duties and/or skills required. Other duties may be assigned.

 

· Oversees a portfolio of affordable housing properties and works with third party property management firms to ensure compliance with current Federal, District, DCHA and housing program regulations, guidelines and policies.

· Applies extensive knowledge of risk management, asset management, real estate finance analysis, regulatory compliance and property management to implement policies and ensure adherence to regulatory requirements and partnership agreements applicable to the assets.

· Establishes and maintains good working relationships with all DCHA investors, partners, lenders, funders and other external customers. Serves as primary point of contact for these entities and responds to or coordinates response to all requests after closing.

· Oversees all reporting requirements to outside lenders, investors, partners and internal asset management/DCHA personnel.

· Ensures compliance with all partnership, lending and regulatory agreements; including but not limited to, affordability requirements, reserve requirements, approvals and operational warranties documented in Management Plans, Regulatory and Operating Agreements, and Property Management agreements.

· Oversees third party property management contracts to ensure assets are properly managed and maintained pursuant to the contractual agreements.

· Ensures properties are being managed in compliance with all lender, investor, regulatory, state and local regulations and guidelines, and in adherence to the Property Management Agreement and Regulatory and Operating Agreement.

· Works with staff to develop and implement a system of quality controls to ensure compliance with federal, state and local requirements regarding tenant eligibility, income recertification and file compliance.

· Conducts regular site visits including unit and file inspections for compliance with site specific programs; coordinates and may attend compliance inspections with outside monitoring agencies as needed; notifies staff of pending inspections; and ensures sites are prepared for audit and responds to any questions or items sited during the inspection.

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