Asset Manager

Community Corporation of Santa Monica

Asset Manager

About Community Corporation of Santa Monica

Community Corp is a non-profit organization that restores, builds, and manages affordable housing for working families of modest means. Since our inception in 1982, we have rehabilitated and constructed nearly 2,071 homes. By enhancing and increasing affordable housing, we improve neighborhoods, create an environment where people can thrive, and change thousands of lives. Our work contributes to the distinct character of Santa Monica and the greater Westside region, making these communities more inclusive, caring, and environmentally sustainable.

Position Overview

The Asset Manager will assess Community Corporation. properties to ensure they are financially sound and comply with contractual, regulatory, and statutory requirements. This person will collaborate with all departments including Property Management, Maintenance and Housing Development to ensure that Community Corp. protects its assets and optimizes property performance. Furthermore, the Asset Manager will stay abreast of industry trends and financial opportunities to position Community Corp. to be a sustainable organization and a leader in the field of community development.

-  Seeking an Asset Manager to join our team as we transition to a data-driven environment. Strong analytical skills and a background in data analysis or advanced analytics are highly preferred.

Compensation and Benefits

The compensation ranges between $75,300- $94,100. The Asset Manager is eligible for the following benefits:

• Medical insurance
• Dental and vision insurance
• 403b retirement plan
• 4 weeks of paid vacation
• 120 hours of sick time
• Paid holidays
• Paid sick leave
• Mileage reimbursement
• 9/80 work schedule
• Every other Friday off!
• Sign on Incentive

Essential Position Responsibilities

• Utilize systems such as Yardi to enhance Community Corp.’s real-time reporting and analytical capabilities.
• Develop reports and/or a dashboard to analyze the performance of Community Corp.’s portfolio.
• Make presentations to Community Corp. Staff and Board.
• Monitor and validate compliance with regulatory agreements and funding requirements.
• Contribute to the resolution of operation issues or concerns, including the submittal of replacement and operating reserves for approvals and follow-thru for transfer of funds.
• Facilitate responses to government and/or lending agencies.
• Participate in the annual budgeting process for each property.
• Complete and monitor annual Welfare Tax Exemption preparation, filing, and follow through (billings)
• Create and implement plans for Limited Partners to exit properties financed with Low Income Housing Tax Credits (LIHTC).
• Lead efforts to restructure the debt and equity on individual properties and pools of properties.
• Contribute to decisions regarding maximizing property cash flow and fees paid to Community Corp.

Skills

• Multifamily experience in affordable housing development and/or property management.
• Relevant experience in multifamily property management for a general or limited partner. Specific knowledge of affordable programs, such as IRS Section 42 (LIHTC), HUD, LAHD, HCD, and CDLAC.
• Previous experience must include responsibilities for understanding property budgets, variance analysis, capital improvement plans, investor and lender reporting requirements.
• Detailed knowledge of and ability to interpret legal documents such as loan documents, limited partnership agreements, regulatory agreements and agreements for the provision of resident services.
• Yardi experience preferred.
• Advanced Microsoft Excel skills required.
• Able to render and act upon an opinion decisively and yet be flexible in eliciting other opinions.
• Able to interact with all levels of organization, agencies, and tenants with the correct perspective ranging from prudence to compassion.
• Excellent verbal, written and organizational skills
• Self-motivated and hard worker.
• A team-player who is able to work independently.

Education and Experience

• Bachelor’s Degree preferred
• 3-5 years of relevant job experience preferred
• Familiarity with non-profit multi-funded organization desirable

Supervisory Responsibilities

• No supervisory responsibility

Physical Requirements

This position requires the ability to sit and use office equipment and computers for the majority of the workday. Must be able to lift up to 25 pounds.

Work Environment

The essential responsibilities of this position are performed in a busy office environment. This position must be able to keep focused in an environment with many interruptions and distractions.

Travel Requirements

Occasional car travel, primarily in Santa Monica, to visit properties in the Community Corp. portfolio. Air travel to conferences and trainings will also be required.

Must possess and maintain a valid California driver’s license, insurance as required by law and an acceptable driving record.

Background Check and Driving Record will be Conducted

Community Corp. is an Equal Opportunity Employer