Job Description

Title: Assistant Asset Manager

Reports to: Director of Asset Management

To be considered for this position, please submit a letter of interest and resume to lquintanilla@merrittcap.org with the subject “ Assistant Asset Manager.”

Job Location: Our office is located in Oakland, California / Remote work within California will be considered; Preferred within any of the following metropolitan areas: Los Angeles, Orange County, San Francisco Bay area, or Capital Region.

About Merritt Community Capital Corporation: Merritt is one of California’s leading nonprofit affordable housing funders. Our mission is to invest in affordable housing and people to build a stronger California. For 35 years we have been a trusted partner, investing over $1.5 billion creating over 11,000 affordable homes across California. Merritt invests in affordable housing with mission-aligned developers and funders to make the most challenging affordable housing projects possible and we invest in programs that develop the next generation of affordable housing professionals with a focus on making the industry more equitable, diverse, and inclusive. Merritt is guided by our values: People-First, Solutions-Oriented, Trust, Openness, and Kindness.

Position Overview: Merritt is seeking a mission-driven, detail oriented and collaborative Assistant Asset Manager to join our team. This position will support the operations of a growing portfolio of affordable housing assets across the State. This role will support the asset management team with all asset management activities and lead portfolio-wide initiatives.

Essential Duties and Responsibilities:

Information Gathering:

• Manage all components of the Asset Management database including but not limited to consultant interfacing, troubleshooting, enhancement efforts, technical assistance and all oversight for the platform.
• Perform timely collection and retention of periodic information on investment partnerships, including construction/ leasing progress, financial and operations reports, audits, and budgets.
• Prepare and disseminate quarterly, annual, and ad hoc reporting as directed.
• Input new asset data; assess and resolve incomplete submissions from partners/managers, ensuring data integrity.
• Create or assist in developing reports to investors or other stakeholders.

Tracking and Recordkeeping:

• Track and store key data and documents to various portfolio files in accordance with company policies.
• Track activity and indicators relative to developers’ performance of certain covenants – which may include deposits to and disbursements from restricted reserve accounts, status of property taxes and insurance and with supervisory oversight or as delegated, resolve discrepancies from limited partnership agreement requirements.
• Track partnership audits and tax returns and disseminate status of each item.
• Track collection of portfolio financial and inspection reporting.

Portfolio Management:

• Coordinate and conduct site inspections of the Merritt portfolio.
• Support management of the financial, operational, and compliance performance of Merritt’s portfolio during the rehabilitation and compliance period of a project.
• Support onboarding activities of new projects. Activities may include site visits, lease up monitoring, LIHTC initial qualifying occupancy activities, and collect, review, process, and evaluate financial statements and follow up on variances as needed.
• Support integrity of internal documentation records and file structure implementation.
• Support review of property audits and tax returns.
• Support the drafting, review and analysis of workout plans.
• Undertake special projects or additional tasks assigned.

Ideal Candidate:

• BA/BS in real estate finance, economics, business, accounting, or related field.
• Has technical expertise to ensure the quality and accuracy of data, then process, design, and present it in ways to help make better decisions.
• Strong experience with Excel.
• Collaborative team member who is highly motivated to produce high-quality results.
• Passion to have a positive impact on the community and population served.
• Knowledge of multifamily real estate operations.
• Ability to analyze and solve complex problems and situations.
• Strong organizational skills and detail oriented.
• Flexible and able to adapt to an ever-evolving work environment.

Minimum Qualifications:

• High school diploma.
• 3 years of affordable housing experience.
• 2 years of asset management experience within affordable housing.
• Tax credit certification from recognized affiliation or willingness to obtain within first year of employment.
• Asset Management Specialist Certification via CHAM or willingness to obtain within the first year of employment.

Physical Demands/Working Conditions:

• Willingness and ability to travel: Able to travel by air or car for project site inspections or industry conferences. Travel may be up to 25%.
• Able to travel to corporate office as needed.
• Valid driver’s license required, with own insurance.
• Able to climb stairs at communities during site visits.
• When visiting project sites, you may be exposed to varying environmental conditions (e.g. inclement weather, dirt, dust and other construction work site hazards).

Compensation: Merritt offers a competitive compensation package, including a bonus plan and benefits. This is an exempt, full-time position. The annual salary range for this position is $80,000 to $100,000. Resumes will be reviewed and considered on an ongoing basis. To be considered for this position, please submit a letter of interest and resume to lquintanilla@merrittcap.org with the subject “Assistant Asset Manager.”

Benefits : Merritt offers a collaborative culture with a passionate team focused on our mission. We provide excellent benefits, including medical, dental, vision, and life insurance; 10 sick days; 15 vacation days in 1st year, 20 days thereafter, plus 15 paid holidays; 401(k) with employer contribution; and performance bonuses.

EEO Statement : Merritt provides equal employment opportunities for all employees. All qualified applicants will receive consideration for employment without regard to race, color, ancestry, national origin, religion, creed, age, sex, gender, sexual orientation, gender identity, gender expression, marital status, genetic information, disability status, protected military or veteran status or any other characteristic protected by law. Merritt is committed to creating a diverse, equitable, and inclusive workplace.

Job Tags

Similar Jobs