135 West 50th Street
The Director of Asset Management ensures the vitality of the Volunteers of America-Greater New York, Inc., mission to provide high quality affordable housing and other program facilities and ensures the accuracy of internal and external financial and compliance reporting for all VOA-GNY and its related entities owned and managed properties. This position is responsible for reporting, property performance analysis, compliance, and property budget, key liaison with property management staff and third-party equity partners and service providers. The Director represents the owner/sponsor interests in all housing properties sponsored/co-sponsored by Volunteers of America-Greater New York, Inc. The objective of this position is to ensure that housing properties owned by Volunteers of America-Greater New York are performing at optimal level (including financial, physical plant and operating systems) and in compliance with financial covenants, regulatory requirements, financial reporting, property management agreements and other reporting and filing requirements as imposed from time to time.
A Master's degree and at least five years' related experience, including demonstrated achievements in progressively responsible positions in the field of Real Estate Finance, Property Management, Real Estate Development or Construction management. Experience and knowledge of property management, financial analysis, insurance/risk management, and 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 work well with others, 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. Ability to communicate clearly both in writing and verbally. Yardi and Office including Outlook, Word, Excel and Access.
- 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 as well as entire real estate portfolio, as required.
- Supervise senior real estate accountant in preparation of and ensure accurate and timely submission of monthly/quarterly financial reports for management and liaison with 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.
- Supervise preparation of and ensure timely preparation and submission of annual operating budget. Understanding of capital budget prepared by Corporate Office Director of Facility Management and ensuring capital budget needs are submitted to Finance Director of Budgeting.
- Ensure timely submission of audited financial statements. Supervise preparation of accurate financial statements and related footnotes in accordance with GAAP and ensure compliance with reporting deadlines. Review and analyze statements; report on any findings or performance issues that require action; conduct follow-up as necessary with auditor or entity and track resolution of issues. Track and compare data from year to year, identifying trends or issues that require action.
- Track adequacy of required reserves and escrow accounts. Track compliance with all loan and program regulatory requirements; institute remedial actions as required to correct non-compliance.
- Prepare / present semi-annual and annual financial reports, analyses, forecasts, and recommendations for action to senior staff or Service Sector offices. Make presentations to public as requested.
- Provide input, analysis and recommendations on proposed projects to Real Estate Development, and assist in transition process from construction to operations.
- Conduct on-site inspections of assets to evaluate physical condition, effectiveness of management operations, regulatory compliance, and 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 develop plans to carry out such actions.
- Ensure that the asset management system captures relevant tax information for each corporation and that filings/exemptions are made on a timely basis. Develop and submit investor reports as required.
- 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. Perform due diligence for operating budgets and pro forma review to ensure long-term sustainability of the property. Ensure that the system includes current information relating to corporate boards and officers. Provide staff support to Committees and Boards, as directed.
- Maintain the system for tracking and reviewing annual audited statements to ensure tracking and mitigation of audit findings and adjustments, tracking of financial and operational performance of each asset to work with accounting and management to create key indicators.
- Interface with Lenders and Regulators to support Strategic Initiatives where needed in case of refinancings / decouplings. Consult with Strategic Initiatives, in its leading effort on ROI analysis on properties.
- Performs other related duties as required.
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Volunteers of America is an Equal Opportunity Employer.
Minimum Education Required