Affordable Housing Asset Manager

Organization Description

The vision that sparked the creation of the nonprofit Greenville Housing Fund (GHF) in 2018 is of a future in which every neighborhood in Greenville County is thriving, sustainable, and affordable for all. GHF aims to increase quality, affordable rental, and homeownership opportunities across Greenville County. We engage and encourage the broader community to advocate for affordable places to live; we make investments in affordable housing through funding programs and financing, and we acquire land for future development. More information about GHF can be found at www.greenvillehousingfund.com.

Position Overview

The Affordable Housing Asset Manager is a newly created full-time position overseeing the financial and operating performance of GHF’s portfolio of Affordable multifamily properties within 30 miles of downtown Greenville. The ideal candidate will assess key property performance indicators, review financial statements and analyze variances, perform financial modeling to produce cash flow projections, and serve as GHF’s representative in communicating with lenders and third-party property managers in carrying out operational and site functions at each property. This position will report to the Vice President of Real Estate and Capital Markets and work collaboratively with the GHF team.

Primary responsibilities will include:

• Review monthly property operating reports, including financial statements. Monitors performance relative to budgeting, including capital spending, and utilizes findings to identify operational and/or financial issues at property
• Meets with property management teams to ensure alignment on the business plan and understanding of market conditions and, when needed, recommends an alternate strategy to the VP of Real Estate to achieve operational success
• Compiles and regularly tracks key fundamentals for each product type, e.g., occupancy, retention, and pricing in the portfolio, and identifies areas where performance could be improved.
• Manages compliance reporting on all GHF-owned assets as necessary.
• Interfaces with the VP of Operations and accounting on asset-level accounting reports, annual audits, and other financial reports that roll up to GHF.
• Oversees progress of development projects in concert with development partners

• Monitors lease expirations, debt maturities, debt covenants, major tenant exposures, property tax and insurance deadlines, and similar metrics.
• Reviews and assesses (including comparison to historical performance) annual detailed property budgets and forecasts prepared by third-party property managers, identifies departures from the original budget, and suggests means of improvement, including providing feedback on Affordable Housing-related compliance items, such as ensuring compliance with Safe Harbor provision through working with Property Management teams at each property

• Primary contact between GHF and third-party property managers, vendors, and other partners.
• Reviews third-party vendor bids and identifies the best vendor to hire on-site
• Creates and assumes ownership of models for purposes of hold vs. sell analysis and annual corporate deliverables, including budgets, long-term strategic plans, re-underwriting, and valuation
• Leads or participates in special projects as assigned at properties, including coordinating renovation projects onsite with full assistance from the Builder, GC, or Construction Management vendor
• Other projects/duties as assigned for the overall benefit of the organization

Successful candidates will possess the following qualifications:

 Education and Experience:

• Bachelor’s degree in accounting, finance, or related field is required
• Seven years or more of related experience covering accounting, financial analysis, and financial modeling

Skills, Competencies, and Attributes

• Demonstrated proficiency in Microsoft Office, especially Excel
• Clear and effective writing and speaking skills
• Proven ability to read and draw conclusions from financial reports, including the Income Statement, Balance Sheet, and Statement of Cash Flows
• Ability to define problems, research and establish facts, and outline draft solutions for discussion with the VP of Real Estate
• Demonstrated prior experience working in Affordable Housing, including experience such as Income Certifying tenants (though this role will not need to do that at the property)
• Ownership of accuracy and completeness of work product
• Ability to multi-task, self-direct, and prioritize
• Strong work ethic and drive commensurate with an in-place high-caliber team
• Strong understanding of key metrics such as Discounted Cash Flow (DCF), Internal Rate of Return (IRR), Net Present Value (NPV), Net Operating Income (NOI), Capitalization rates, etc.

Certifications & Licenses:

None are required, but please list any current relevant licenses.

Physical Demands

The physical demands described here represent those that an employee must meet to perform the essential functions of this job successfully. Reasonable accommodation may be made to enable individuals with disabilities to perform essential functions.

The candidate must possess close visual acuity and visual acuity to operate a motor vehicle. Sedentary work with the ability to frequently talk, hear, finger, grasp, reach, stand, walk, and perform repetitive motions, and occasionally climb, stoop, crawl, push, and grasp.

Working Environment:

On-site: office setting without being substantially exposed to adverse environmental conditions.

Salary and Application Information:

The annual salary range is $75,000-$95,000, and a comprehensive benefit package is offered. The start date is January 2025 or sooner.

To be considered, applicants need to submit a resume and cover letter. Applicants invited for an interview must provide at least two (2) references, including at least one (1) supervisor and one peer from a recent employer.

If you are interested in this position, please submit a brief cover letter and resume to careers@greenvillehousingfund.com. GHF will contact applicants promptly if an interview is deemed appropriate.

 The Greenville Housing Fund is an Equal Opportunity Employer committed to maintaining a diverse workplace.

To be considered, applicants need to submit a resume and cover letter. Applicants invited for an interview must provide at least two (2) references, including at least one (1) supervisor and one peer from a recent employer.

If you are interested in this position, please submit a brief cover letter and resume to careers@greenvillehousingfund.com. GHF will contact applicants promptly if an interview is deemed appropriate.

 The Greenville Housing Fund is an Equal Opportunity Employer committed to maintaining a diverse workplace.