TDHCA - Senior Asset Manager

GENERAL DESCRIPTION:

Performs highly advanced (senior-level) consultative services and technical assistance work overseeing the construction, lease up and ongoing operations of properties funded through the Department’s Housing Programs. These programs include but are not limited to the Low Income Housing Tax Credit Program, Tax Credit Exchange Program, the Tax Credit Assistance Program, the HOME program, the Neighborhood Stabilization Program, the State of Texas Housing Trust Fund program, and the National Housing Trust Fund program. This position will directly oversee or collaborate overseeing on a portfolio of 500-700 properties to identify, monitor and mitigate the Department’s risk of failure to deliver the required affordability and/or repayment of funds. The work involves communicating with borrowers, lenders, owners, buyers, other Department divisions, governmental agencies, community organizations, and service vendors and responding within prescribed timeframes to their requests; planning, developing, prioritizing, and carrying out action plans for each development; representing the Department’s interests in negotiating resolutions; coordinating more complex workout with senior management; and preparing and presenting information as needed. The position reports to the manager and the director of the division, but the work is performed with extensive latitude requiring initiative, independent judgment and tenacity. May plan, coordinate, review, and assign the work of others.

SPECIFIC JOB RESPONSIBILITIES: 

· Directly perform and review the activities of staff performing work related to Asset Management activities, including the timely completion of review and approval of: 10% Tests, cost certifications, ownership transfers, amendments, LURA originations, LURA amendments, construction status reports, extensions, right of first refusals, qualified contracts, cash flow loan analysis and loan modification requests, including loan workouts; performs quality control procedures related to these activities.

· Represent the Department as the primary point of contact for the ownership of the assigned properties by maintaining regular communication with property ownership/management.

· Oversee the preparation of and/or personally prepare and review reports including financial statement analysis, action plans, construction inspection reports et al. to ensure that properties are constructed timely, completely and within budget and operated effectively.

· With the assistance of the Legal Division, ensure the timely creation, execution and, as necessary, amendment of the Department’s loan and regulatory agreements to achieve compliance with the Department’s rules.

· Collaborate with the division director and division manager on the formation and ensure the long term implementation of resolutions for troubled assets.

· Evaluate, report, and ensure repayment cash flow loans as assigned.

· Process annual rent approvals for direct loan transactions.

· Receive, evaluate and process approval or denial of 10% test, amendments, ownership transfers, satisfaction of right of first refusal, and Qualified Contracts for assigned portfolio of housing tax credit developments in a timely manner.

· Complete the evaluation of final cost certification for assigned housing tax credit developments and ensure that IRS form 8609 are issued in a timely manner by managing the pipeline of anticipated activity and proactively working with tax credit owners and investors for timely submission of documentation.

· Provide technical assistance to other TDHCA personnel and the public.

· Develop and prepare management and productivity reports.

· Remain abreast of the relevant technical developments related to asset management activities.

· Must be able to travel when needed (~ 10%)

· Perform other related work as assigned.

EDUCATION/EXPERIENCE:

· Graduation from an accredited four-year college or university with major course work in a field relevant to this assignment;

· Must have at least eight years of direct experience with the Department’s multifamily housing programs;

· At least five years commercial loan underwriting or asset management experience with a financial institution or housing finance agency;

· Experience above the minimum requirements may be substituted for education requirement on a year by year basis.

· Strong numerical and analytical background and extensive experience in financial analysis.

· Knowledge of the multifamily housing programs administered by the department and the ability to interpret and apply the regulations that govern these programs.

· Ability to review, analyze, evaluate and make recommendations regarding complex financial and real estate issues.

· Ability to negotiate effective solutions with borrowers.

· Knowledge of the principles and practices of public administration.

· Self sufficient computer skills including at minimum, Word, Excel, power Point and Explorer.

· Experience with commercial loan workout, financial analysis, and multifamily underwriting.

· Ability to effectively communicate orally and in writing with diverse groups and individuals.

· Must evidence the desire for continuous growth.

IMPORTANT INFORMATION FOR THE CANDIDATE:
• Official transcripts or other minimum requirement validations will be requested of final applicants.
• Criminal background checks will be conducted before an offer of employment is extended.

We fully recognize, honor and enforce the Uniformed Services Employment and Reemployment Rights Act (USERRA) and encourage opportunities to hire Veterans, Reservists and Guardsmen.

Males born on or after January 1, 1960, between the ages of 18-26, will be required to present proof of Selective Service System registration on the first day of employment or proof of exemption from Selective Service registration requirement.

The U.S. Immigration Reform and Control Act of 1986 requires new employees to present proof of identity and eligibility to work in the United States. Failure to provide this information within the required timeframe will result in the offer being rescinded.

Thank you for considering employment at the Texas Department of Housing and Community Affairs! The Texas Department of Housing and Community Affairs is an Equal Employment Opportunity employer.