Job Summary
KCHA is seeking an Asset Manager to support the Asset Management department in Tukwila, WA. This role oversees a portfolio of tax credit and/or bond-financed affordable housing properties, ensuring financial performance, physical maintenance, and compliance with IRS, HUD, lender, and KCHA requirements.
Responsibilities include acting as owner’s representative, monitoring third-party property management, reviewing financial statements, preparing reports and forecasts, managing cash flow and debt service, and ensuring regulatory compliance. The position also involves constructability reviews, daily reporting, and maintaining accurate records. Work is performed under the general supervision of the Senior Asset Manager.
King County Housing Authority (KCHA), an independent municipal organization, is a high performing nationally recognized leader in affordable housing. To learn more about KCHA and our Mission visit this link.
Essential Functions
The Asset Manager will:
Analyze the overall financial performance of affordable housing portfolios; develop and track property budgets and financial statements; create financial forecasts and evaluate actual performance versus projections on monthly, quarterly, and annual bases; complete regular and special reports as required including spreadsheets demonstrating portfolio analysis and cash flow projections.
Direct property management companies to ensure compliance with partnership agreements, financing covenants and other legal and operational requirements; serve as a representative of the Authority to ensure portfolios adhere to the organization’s mission, policies, and initiatives; oversee cash flow operations to ensure projected incomes/losses are realized by the Authority and/or investors.
Manage obligations pertaining to the organization's role as general partner as mandated in tax credit limited partnership agreements; complete partnership audited financial statements and tax returns (K-1’s) and other general partner responsibilities; assist with tax-credit partnership exits as needed.
Monitor and complete mandatory compliance reporting for local, State, and Federal agencies, bond and tax credit programs, additional funders, lenders, and limited partnerships.
Inspect properties to ensure physical integrity, market competitiveness and desired street appeal; attend monthly property meetings; function as liaison and advisor to property management; make recommendations for needed improvements; determine plans for feasible implementation of improvements.
Participate in cash management efforts, such as monthly operational funding, wire transfer authorization, replacement reserve and debt service funding, distribution of annual excess revenues and cash.
Respond to tenant and/or building emergencies as needed; report emergency situations according to established procedure; address resident related complaints.
Develop capital reserve for replacement schedules and coordinate the scheduling of capital improvement projects with the capital construction team.
Make recommendations and implements procedures for improving internal operational efficiency; undertake special projects, such as sustainability initiatives or security enhancement measures.
Attend professional development seminars and/or workshops to stay abreast of new regulations and legal guidelines related to tax credit compliance and other work-related issues.
Qualifications and Competencies
Required Qualifications:
Bachelor's Degree in accounting, business administration, finance or closely related field AND
Considerable experience in accounting, finance, property management, real estate management, or real estate development OR
An equivalent combination of experience and education that provides the necessary knowledge, skills, and abilities to perform the essential functions of this position.
Required Knowledge, Skills and Abilities:
Demonstrates knowledge of applicable federal, state regulations, and policies and procedures, with the ability to interpret and apply.
Practical accounting experience and knowledge of GAAP with ability to apply relevant skills.
Ability to explain complex or technical information regarding rules, rights, regulations, policies, procedures, programs, or services to answer questions, resolve problems, communicate decisions or actions.
Understands technical aspects of the position and continuously builds knowledge, keeping up-to-date on the technical or procedural aspects of the position.
Proficiency using Microsoft Office programs including Outlook, Word, Excel and other analytical software programs.
Uses critical, creative, and reflective thinking skills to identify problems, analyze and evaluate various solutions, implement solutions, and monitor their effectiveness; ability to analyze data and resolve problems; sees opportunities for creative problem solving while staying within the parameters of good practice; generates unique but workable and useful solutions to difficult problems.
Clearly and effectively communicates both verbally and in writing by actively listening and sharing relevant information.
Establishes and nurtures relationships with stakeholders, regularly inviting feedback and suggestions; works cooperatively with others as an active member of a team.
Accompany stakeholders on site visits; travel to and between assigned properties on an average of a weekly basis. Frequency is dependent on business needs.
Effectively organizes multiple assignments, sometimes of a complex nature or involving competing priorities, to produce work products that are accurate, thorough and on time.
Adapts to changing business needs, conditions, and work responsibilities; responds positively to change, embracing and using new practices or values.
Special Requirements:
Consent to and pass required assessments.
Consent to and pass a driver's and criminal records background check.
Must possess a valid driver's license and own or have access to a vehicle to regularly travel between work sites, or have an alternative reliable mode of transportation.
Position Information and Application Process
Application Requirements:
To be considered for this opportunity, you must:
Complete the online application profile in its entirety.
Upload a cover letter that addresses how your experience and education qualifies you to perform the essential functions listed in the job announcement. (Cover Letter)
Upload a detailed résumé of all educational and professional experience. (Résumé)
Salary & Benefits:
The salary range for this position is $104,794.00 - $129,420.00 annually dependent on qualifications and professional experience. The complete salary range for this position is $104,794.00- $154,046.99 annually. Performance based merit increase opportunities and COLAs are reviewed on an annual basis. A comprehensive health care benefits package for you and your dependents includes medical, dental and vision insurance, life and long-term disability insurance plans, vacation, sick and personal leave, tuition reimbursement, and retirement benefits are also available.
Work Environment:
Incumbent(s) must be able to meet the physical requirements of the classification and have mobility, balance, coordination, vision, hearing and dexterity levels appropriate to the functions performed. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
After initial onboarding, this role will have the opportunity to work remotely up to 60% in accordance with the KCHA's flexible work arrangements; however, remote work conditions will be reviewed on a regular basis based on business and program need. The ability to report to the Central Office in Tukwila will be required.
Physical Requirements:
This work requires the occasional exertion of up to 25 pounds of force; work regularly requires sitting, speaking or hearing, using hands to finger, handle or feel and repetitive motions and occasionally requires standing and walking; work has standard vision requirements; vocal communication is required for expressing or exchanging ideas by means of the spoken word; hearing is required to perceive information at normal spoken word levels; work requires preparing and analyzing written or computer data, operating motor vehicles or equipment and observing general surroundings and activities; work has no exposure to environmental conditions; work is generally in a moderately noisy location (e.g. business office, light traffic).
Equal Opportunity:
King County Housing Authority is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status.