Asset Manager, ROC USA Capital

About ROC USA

ROC USA is a 501(c)(3) nonprofit dedicated to preserving and expanding affordable homeownership in manufactured home communities across the United States. Residents in these communities typically own their homes but not the land beneath them. When communities are sold to investors, residents face the risk of displacement, escalating land rent increases, and wealth-stripping.

ROC USA and our Network of nine Certified Technical Assistance Providers (CTAPs) support residents to collectively purchase their communities and govern them as cooperatives, or “resident-owned communities.” This ensures that communities stay affordable, homes appreciate, and land rents are used by the cooperatives to operate and improve the community. To date, we have enabled the formation of 363 ROCs to access over $1 billion in community financing, resulting in the preservation of 24,500 affordable homes across 22 states.

ROC USA Capital

ROC USA Capital is a wholly owned subsidiary of ROC USA and a certified CDFI providing acquisition financing and other capital to ROCs nationwide. Since 2008, ROC USA Capital has provided over $550 million in financing to ROCs. It holds an A+ Aeris rating and three stars for impact performance.

Position Overview

The Asset Manager will perform key functions of portfolio and asset management, loan servicing, compliance, and risk mitigation within ROC USA® Capital. This role will independently oversee a diverse and complex portfolio of resident owned communities (ROCs) to ensure the organization’s portfolio operates efficiently and aligns with strategic goals to maintain and strengthen its position as the leading CDFI lender for resident ownership.

This position combines financial monitoring, compliance, and relationship management to ensure each community’s short-term and long-term stability. The Asset Manager is responsible for monitoring and performance of an assigned portfolio of 35-40 loans and works directly with ROC boards, property managers, Certified Technical Assistance Providers (CTAPs), and ROC USA staff to ensure continued performance with lender covenants and governance requirements.

Key Responsibilities

Loan Servicing - 20%

• Oversee and approve the annual operating and capital improvement budgets for assigned borrowers, ensuring alignment with financial objectives.
• Support the maintenance of the loan management system as the system of record for the lending portfolio. Review, and approve loan modifications, payment adjustments, and other changes, and reconcile them with the Finance Team to keep balances, terms, and servicing records accurate.
• Use the loan management system and portfolio tracking tools to monitor performance, covenant and reporting deadlines, and the completion of assigned action items.

Loan Compliance - 25%

• Conduct financial analyses related to DSCR, budget variances, and reserve adequacy for assigned borrowers, ensuring accuracy and regulatory compliance.
• Review and reconcile borrower financial statements, rent rolls, and operating statements. Normalize financials and flag reporting or accrual issues.
• Monitor covenant compliance (DSCR, reserve funding, debt yield, LTV). Prepare covenant compliance certificates and track cures, waivers, and forbearance terms.
• In cooperation with CTAPs, monitor and ensure timely and complete submission of quarterly and annual reports from borrowers in accordance with Borrower Loan Documents and CTAP Loan Servicing Agreements.
• Coordinate the review and approval of construction loan disbursements and Replacement Reserve Account disbursements for borrower capital improvements, ensuring adherence to approved Capital Improvement Plans and Construction Loan Budgets.
• Engage and coordinate with CTAPs and ROC boards, property managers, loan participants, and subordinate lenders to ensure alignment with ROC USA Capital agreements and maintain full compliance.

Asset Management – 40%

• Conduct portfolio analyses to assess borrower performance against key risk and performance metrics, identifying trends and potential areas of concern.
• Support and participate in monthly Watch List call, tracking and reporting on portfolio performance to ROC USA Capital leadership, partner with key staff to foster collaboration and strategic decision-making.
• In conjunction with partners, promote accountability of standardized methods and processes to apply for assistance prior to a formal default to the lender.
• Foster strong, collaborative relationships that promote transparent communication and proactive problem-solving among ROC boards, property managers, Certified Technical Assistance Providers (CTAPs), and ROC USA staff.
• Within ROC USA Capital, serve as the primary contact for borrowers within assigned portfolio and attend board meetings or conduct site visits as required.
• Underwrite refinance transactions for existing ROC borrowers, including financial modeling and risk analysis.
• Build and maintain financial models for refinance, workout, and restructuring scenarios, including sensitivity analysis and rate reset or amortization changes.
• Present comprehensive recommendations to the Loan Review Committee for communities within the assigned portfolio, including refinance opportunities, annual risk rating adjustments, loan modifications, and workout strategies. Ensure presentations incorporate financial analysis, risk assessments, and action plan updates to support informed decision-making by senior leadership.
• Review and approve changes in property management for post-closing communities, intervening when necessary to ensure compliance with loan agreements and executing updated documentation as required.
• Review infrastructure and capital plans for resident-owned communities (utilities, roads, lot rent adequacy, reserve funding) as they affect cash flow.
• Prepare quarterly and annual portfolio reports highlighting risks, identifying trends and creating action plans to resolve issues.
• Maintain and update loan risk ratings, escalating distressed loans to the Watch List as appropriate.
• Support the quarterly loan loss reserve and allowance process. This includes risk-rating inputs, qualitative factor recommendations, and individually evaluated loan analysis.
• Recommend and document nonaccrual status, interest suspension, impairment, and charge-off. Ensure loan modifications are accounted for and disclosed correctly.
• Prepare and reconcile investor, participant, and funder reporting. Track compliance with covenants in the CDFI’s own debt and participation agreements.

Leadership Collaboration – 10%

• Contribute to a culture of inclusivity and respect, ensuring that all team members feel valued and heard.
• Support existing vendor and consultant relationships central to Asset Management, ensuring the selection of qualified service providers, monitoring vendor performance and effectiveness, negotiating contracts, and ensuring that services are delivered within scope, on budget, and meet organizational quality standards.
• Collaborate across teams to ensure alignment on turnaround plans, leveraging insights from portfolio performance metrics to guide decision-making and maintain portfolio performance and integrity. Maintain detailed records of negotiations, decisions, and outcomes, providing transparency to status of workouts.
• Mentor and coach newer staff and interns as needed, sharing best practices in portfolio and asset management
• Provide education on portfolio and asset management concepts to ROCs and CTAP Network, as appropriate.

Strategic Development and Other Responsibilities - 5%

• Drive continuous improvement of loan servicing, compliance, and portfolio management processes to enhance operational efficiency and risk management by identifying systemic challenges and recommending improvements.
• Support the organization’s strategic goal of preserving affordability by identifying refinancing opportunities, evaluating borrower readiness, and collaborating with underwriters on new transactions.
• Develop reporting and monitoring tools that allow staff, boards, and CTAPs to better anticipate financial and operating challenges.
• Contribute to ROC USA Capital’s position for future financial rating by ensuring high-quality data input, reporting systems, and compliance practices.
• Represent ROC USA Capital at industry conferences, training, and ROC convenings to advance best practices in cooperative housing finance and asset management as required.

Required Skills/Abilities

• Strong background in Multifamily Housing Loan Portfolio Management and Associated Loan Accounting/Loan Servicing, including excellent multifamily operating financial analysis skills and experience successfully restructuring long-term loans.
• Advanced proficiency in Excel-based financial modeling and forecasting, with the ability to translate financial projections into clear recommendations to lenders, boards, and senior leadership.
• Working knowledge of accounting and financial statement analysis, including accrual accounting, loan loss reserve methodology, and interpreting borrower financials to forecast performance under stress and workout scenarios.
• Strong skills in written and verbal communications and excellent interpersonal relations.
• Strong proficiency with Microsoft Office applications including Word, Excel, and PowerPoint.
• Demonstrable commitment to ROC USA’s mission of diversity, equity, and inclusion.

Education and Experience

• Three or more years of asset management experience, including real estate portfolio asset management, with a lending institution servicing amortizing loans for an income producing real estate-based loan portfolio, preferably in commercial banking or with another CDFI financing affordable multifamily housing.
• Management of an amortizing income-producing loan portfolio required.
• Demonstrated experience creating and maintaining multi-year financial projections and models, including operating budgets, cash flow forecasts, debt service coverage, and sensitivity analysis.
• Bachelor’s degree required in business, finance, accounting, economics or related field.

Preferred Qualifications

• Background in managing or supporting complex construction or infrastructure projects, with familiarity in evaluating contractor proposals and monitoring project progress.
• Experience with property management oversight, including qualification and contract review, as well as training and coaching related to property management.

Physical Requirements

• Prolonged periods of sitting at a desk and working on a computer.
• Moderate travel (25%) to perform site visits, conduct lender called meetings, and engage with board partners across the assigned portfolio. This also includes occasional evening and weekend travel or work meetings to meet business needs.

What Else You Should Know

This is a full-time, 40-hour-per-week exempt position, remote-based, with candidates located in the Mountain or Pacific time zones preferred. The role requires moderate travel throughout the country to conduct site visits to existing borrowers and participate in ROC USA sponsored convenings and events. The salary for this position is dependent on experience with a range between $90,000 - $110,000. We also offer an excellent benefits package, including a comprehensive Health Plan (medical, dental, and vision), FSA, vacation time, and a 3% retirement match.

ROC USA is an Equal Opportunity Employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender identity or expression, sexual orientation, national origin, disability, age, veteran status, or any other legally protected status.

How to Apply

Interested candidates should submit a resume and cover letter sharing your interest in the position via ROC USA's Application Form.

We offer an excellent benefits package, including a comprehensive Health Plan (medical, dental, and vision), FSA, vacation time, and a 3% retirement match.