Junior Asset Manager - Remote
Volunteers of America - National Services

Chicago, Illinois

This job has expired.


Junior Asset Manager - VOLUNTEERS OF AMERICA NATIONAL HEADQUARTERS

Come make a difference! Volunteers of America is one the nation's largest and most comprehensive human services organizations. Since 1896, our ministry of service has supported and empowered America's most vulnerable groups, including at-risk youth, the frail elderly, men and women returning from prison, homeless individuals and families, people with disabilities, and those recovering from addictions. We are one of the nation's largest nonprofit providers of quality, affordable housing for low and moderate-income households and persons with special needs.

Summary of Essential Functions, Duties & Responsibilities

The Junior Asset Manager represents the owner/sponsor interests in all housing properties sponsored/co-sponsored by Volunteers of America. The objective of this position is to ensure that housing properties owned by Volunteers of America are performing at optimal level (including financial, physical plant and operating systems) and in compliance with financial covenants, regulatory requirements and other reporting and filing requirements as imposed from time to time.

Essential Functions, Duties & Responsibilities

  • The Junior Asset Manager will oversee a portfolio of real estate assets and will work under the direction of the Vice President, Asset Management.

    Reporting

    • Gather, evaluate, interpret and report on the operational performance and condition of assigned real estate assets. Provide analysis, conclusions and recommendations regarding specific properties assigned.

    • Assure timely submission of monthly/quarterly financial reports from management and accounting entities. Review reports and assess actual performance to approved budget and original underwriting assumptions. Obtain further information and clarification, as needed from management entities.

    • Coordinate timely submission of annual operating and capital budgets from properties assigned; review for completeness, accuracy and conformance to performance goals, assuring that adequate funding sources have been identified to accomplish any capital needs to be undertaken.

    • Assure timely submission of audited financial statements. Review and analyze statements; report on any findings or performance issues that require action. Track and compare data from year to year, identifying trends or issues that require action.

    • Recommend market studies, capital needs assessments, engineering studies, or other professional reports as required for assigned portfolio to Vice President, Asset Management; develop implementation plans for any subsequent actions indicated by such professional studies.

    • Review all loan and program regulatory requirements governing properties in assigned portfolio.

    • Track adequacy of required reserves and escrow accounts.

    • Develop and submit investor reports as required.

    • Ensure tax filings and exemption requests are made on a timely basis.

    Maintaining Assets
    • Conduct on-site inspections of assets to evaluate physical condition, effectiveness of management operations, regulatory compliance, external effects on property and market position. Report on findings and conclusions; direct corrective measures to be accomplished and recommend changes or improvements needed.

    • Identify assets that require intervention, changes in management, workouts, refinancing or disposition and work with Vice President, Asset Management to develop plans to carry out such actions.

    • Maintain the system to track financial and operational performance of each asset within assigned portfolio.

    • Maintain the system for tracking and reviewing annual audited statements to ensure tracking and mitigation of audit findings and adjustments.

    • Maintain a system that captures and tracks significant debt/investor equity terms and covenants and compliance with same, and ensures that reporting to lenders/investors occurs in compliance with their requirements.

    • Ensure that the asset management system captures relevant tax information for each corporation and that filings/exemptions are made on a timely basis.

    • Ensure that the system includes current information relating to corporate boards and officers.

    Liaison/Support
    • Provide staff support to Committees and Boards, as directed.

    • Provide assistance or guidance to Administrative support staff and local affiliate offices, as needed.

    • Interface with Lenders and Regulators as directed.

    Other duties as assigned.


Knowledge, Skills and Abilities

• A minimum of 2 years experience in Asset Management, Real Estate Finance, Property Management, Real Estate Development, or Construction Management.

• Experience skilled property management, financial analysis, insurance/risk management, accounting, valuation of income-producing real estate, capital markets, tax management, customer/client/regulator relations, code and law.

• Specific knowledge of HUD housing programs, tax credit programs and tax exempt bonds.

• Interpersonal skills necessary to effectively delegate, manage and motivate other employees and outside contacts in relation with housing development.

• Good vendor management skills, including negotiating skills and ability to influence as needed.

• Good interpersonal skills to work with others. Ability to communicate clearly both in writing and verbally. Capable of developing communications, trainings, and presentations. Able to present or train individuals or large groups in a variety of methods.

• Sound and accurate judgment with an ability to support and explain reasoning for decisions. Includes appropriate people in decision-making process; and ensure timely decisions are made.

• Office including Outlook, Word, Excel and Access.

• Ability to work flexible hours. Ability to travel is required.

EOE M/F/Vets/Disabled

Recommended Skills
  • Property Management
  • Financial Statements
  • Real Estates
  • Underwriting
  • Insurance
  • Reports

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Job Snapshot

Employee Type
Full-Time

Location
Chicago, IL

Job Type
Nonprofit - Social Services

Experience
Not Specified

Date Posted
09/22/2021

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