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Associate Director of Asset Management

Company: East Bay Asian Local Development Corporation
Location: Oakland
Posted on: March 17, 2023

Job Description:

Emphasizing our historic and continuing commitment to Asian and Pacific Islander communities, the -East Bay Asian Local Development Corporation (EBALDC) -works with and for all the diverse populations of the East Bay to build healthy, vibrant and safe neighborhoods through community development. -EBALDC -is a first-generation social enterprise founded in 1975 that has consistently generated > 75% of our revenue from earned income. Our businesses and programs generate revenue to support sustained social impact. We oversee a diverse range of businesses and programs, including real estate development, property management, social services, and professional services, some of which are corporate operations and others are operated as subsidiaries and through partnerships with public and private partners. -EBALDC -is dedicated to building a culturally diverse and pluralistic organization committed to working in multicultural communities, and strongly encourages minorities, people of color and women to apply for our employment opportunities. EBALDC is an equal opportunity employer and makes employment decisions on the basis of merit, including the applicant's ability to champion EBALDC mission, values and organizational culture. EBALDC wants to have the best available persons in every job. EBALDC policy prohibits unlawful discrimination on any basis protected by federal, state or local law or ordinance or regulation. -For more about -our accomplishments -and -our mission, please visit: - - -East Bay Asian Local Development Corporation (EBALDC) -is seeking for a full-time -Associate Director of Asset Management -at the main office in Oakland, CA. -Summary:The Associate Director of Asset Manager is responsible for monitoring the operational and financial performance of EBALDC's portfolio, investor, and lender compliance, and assist the Director of Asset Management in the refinancing and rehabilitation necessary to preserve EBALDC's portfolio. -The Asset Manager works closely with -the Director of Asset Management -to identify and implement long-term strategies to improve property performance to meet organizational objectives. - -Key Duties and Responsibilities:

  • Monitor the current and long-term financial status of properties by reviewing budget variance reports and audited financial statements, and by preparing long-term operating cash flow projections
  • Propose solutions to structural deficits and propose disposition of annual surplus/deficits for assigned portfolio
  • With the Director of Asset Management, develop workout plans for properties that are not performing to standards
  • Responsible for third party property management relationships and monitoring the performance of the properties they manage
  • Work closely with property management to maximize performance of the portfolio
  • Review and monitor capital accounts, reserve accounts, and losses in EBALDC property portfolio to prioritize capital improvements and develop back-end buyout strategies
  • Participate in annual property budget processes to compare the budgets to the original development projections and to ensure rents are increased in compliance with our regulatory agreements
  • Work with Real Estate Development staff to create initial operating budgets and project designs that achieve Asset Management goals of long-term financial stability, cost efficiency, and well-maintained physical plants. - Compare proformas to budgeted rent schedules and actual operating budgets for similar EBALDC buildings
  • Lead Asset Management staff in determining capital needs in coordination with Property Management Department; secure adequate, timely and appropriate financing to meet needs
  • Financial reporting analysis, interpretation, recommendations
  • Other assignments and duties as assigned -Required Knowledge, Skills & Abilities:
    • Capability to analyze complex problems, problem solve, and exercise good judgement
    • Strong quantitative analysis skills
    • Excellent writing and communication skills
    • Strong attention to detail
    • Ability to exercise independent judgment appropriate to the position
    • Excellent time management skills and ability to set priorities
    • Ability to work collaboratively with people in other departments and skill levels
    • Dependability, initiative, and follow-through
    • Ability to work effectively with development professionals and public officials
    • Ability to work with, and sensitivity to, a diverse, low-income, multi-ethnic population -Minimum Qualifications:
      • Bachelor's Degree in accounting, finance, business administration, or related field
      • Ability to prepare financial feasibility analyses, conduct research, and prepare narrative reports and proposals
      • Strong experience in affordable housing and/or multi-family residential real estate finance preferred
      • Familiarity with partnership agreements, financing documents, regulatory agreements, tax returns and other property documents
      • Two years' experience or advanced degree in related academic field, in one or more of the following:
        • asset management
        • residential or commercial property management
        • financial management
        • housing development
        • full-charge accounting
        • internal auditing
        • contract administration
        • Intermediate knowledge of MS Word and MS Excel
        • Two years' experience in quantitative analysis.
        • Experience with or strong interest in non-profit organizations -Preferred Qualifications:
          • Graduate degree in urban planning, accounting, finance, business administration, or related field
          • Familiarity and effectiveness with the fiscal, physical/maintenance, regulatory, and tenant relations aspects of property management
          • Competency in Yardi (or similar), Microsoft Office 365, SharePoint, Salesforce preferred
          • Training and experience in HUD and Tax Credit programs
          • CPM, NAHP, CHAM or other certification related to housing development, property, or asset management -Salary Range:$115,000.00 - $125,000.00 annually -Benefits and Other Information:EBALDC offers excellent benefit. - EBALDC pays 100% of employee premiums and 60% of dependent premiums for Medical, Dental, Vision, LTD and Life, EAP, Retirement, Paid Time Off, CA Paid Sick Leave, Holidays and Wellness Days off for all eligible employees. -**All candidates will be subject to a background check and COVID-19 Vaccination is required as a condition of employment** -Please NO PHONE CALLS! -EBALDC is an EOE/AA Employer - -Powered by JazzHR

Keywords: East Bay Asian Local Development Corporation, Oakland , Associate Director of Asset Management, Executive , Oakland, California

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