Job Title Asset Manager (Must Work in jobsWashington, DC office)
Supervisor’s Title: Director of Asset Management
OT Status: Exempt Total Compensation: Up to $86,000 Send Resume To: Ted Potts (email@example.com) WORK
OBJECTIVES: The National Trust Community Investment Corporation (NTCIC), a tax credit subsidiary of the National Trust for Historic Preservation that provides real estate financing to culturally diverse and economically distressed urban communities, seeks an Asset Manager to have primary asset management responsibilities of a portfolio of historic and new markets tax credit equity investments from closing through the compliance period as well as the exit process.
DUTIES: • Important: Must have experience and technical knowledge of Section 47(or Section 42), historic certification application process, real estate syndication, and community development. 1. Under the direction of the Director of Asset Management, oversee multiple investments and/or Investor relationships within NTCIC’s portfolios of closed equity investments. Those tasks include: a. Participate in the ongoing relationships with the managing member/developer partner, construction lender, SHPO/Historic Consultant, property management and accounting staff for each project. b. Provide oversight to the Asset Management team in the collection and analysis of all required reports for each project, including construction progress and change order reports, draw requests, development sources and uses flow of funds, lease-up reports, monthly quarterly and annual reporting, and audited financial reports and tax returns. c. Perform site visits as needed and ensure compliance of each project with The Secretary of the Interior’s Standards and the terms and conditions of the project operating agreement; d. Monitor the collection of priority return, asset management fee and tax payments required of each project; e. Manage the exit strategy of each project. f. Identify potential problems, and develop and implement measures to address such problems, including potential non-compliance and workout situations. g. Monitor and follow-up on all post-closing terms and requirements for each project, including outstanding closing items. h. Proactively guide managing member through the collection of the benchmarks necessary to facilitate additional equity payments, timetables for project completion and tax credit delivery, establishment of reserves, and loan conversion or refinancing requirements; i. Collaboratively work with NTCIC’s accounting department to provide all necessary criteria to Investor to effectuate the post-closing equity payments, as needed. 2. Assist the New Markets Compliance Manager in regards to maintaining NTCIC’s CDE status. This will include making sure the qualifications for NMTC have been met during underwriting, ensuring acquisitions and underwriting staff provide all necessary information for compliance prior to closing, and assisting in the oversight of the compliance during the NMTC recapture period as well as review all Investor, IRS, and CDFI reporting material. 3. Supervise the maintenance of the asset management systems, including: files; databases; reports; tickler systems; and electronic integration of asset management systems with closing projections, project-level reporting (including audits and tax returns), and upper tier fund-level reporting (including assisting accounting with the Fund audits and tax returns) and other systems. 4. Responsible for quarterly investor reporting and annual audits and tax returns for assigned portfolios. 5. Collaborating with acquisitions and underwriting staff in evaluating potential investments, if necessary, by providing actual project and market feedback. 6. Such other and future duties as assigned. QUALIFICATIONS: • 2 years responsible experience in asset management in a real estate development company, community development corporation, real estate banking group, tax credit syndicator, or other real estate or community development institution. • Bachelor’s degree in real estate, finance, business, accounting or related fields. Master’s Degree preferred. • Real estate experience and knowledge, including market analysis, construction and rehabilitation process, property management, financial reporting and analysis, and/or compliance with financing covenants or regulatory agreements. • Knowledge of New Markets Tax Credit Program preferred. • Strong analytical skills and attention to detail, including ability to recognize, assess and mitigate risk. • Proven ability to work collaboratively with other members of a small team in a fast-paced environment. • Must be a self-starter with strong drive and organizational skills, able to “think and act on one’s feet”. • Proficiency in word-processing, spreadsheet, database and presentation software, including Microsoft Excel. • Strong written and oral presentation skills • Ability and willingness to travel.