Asset Manager

Job Description

The Community Preservation Corporation (CPC) believes stable and sustainable affordable housing is the foundation of strong communities and we strive to contribute to comprehensive neighborhood revitalization through our lending and partnerships. A nationally recognized leader in affordable housing finance, CPC has provided a consistent source of capital to underserved housing markets throughout New York State since our inception in 1974.

Summary of Position:

The Asset Manager will implement the day-to-day risk management activities on the CPC loan portfolio. This person will identify and mitigate the credit, financial, operational, physical and market risks impacting the properties collateralizing the loans within the portfolio. They will work with CPC team members, borrowers; guarantors; local, state and federal government agencies; developers; owners; managers; Fannie Mae; Freddie Mac; FHA and other industry groups to preserve the value of the housing financed by the mortgage loans.

Roles and Responsibilities:

Perform ongoing asset management and surveillance activities to identify, monitor, rate and mitigate the financial, credit, operational, physical, ownership and market risks impacting the multifamily properties collateralizing the portfolio, as assigned

Review, analyze and report on property and principal-level financial statements

Conduct property inspections and site visits, as assigned, and identify mitigation strategies for all safety and deferred maintenance issues

Review reserve withdrawals to reimburse Borrowers for eligible expenditures and recommend approvals to the Senior Asset Manager

Assist with processing of borrowers’ post-closing requests and coordinate the updating of all systems with the Asset Management Analysts

Monitor borrowers’ compliance with the loan documents and mitigate risks by communicating all asset management requirements to borrowers

Inform management and other internal stakeholders of risks and issues in the portfolio as they arise

Provide excellent customer service to all stakeholders by responding promptly and accurately to questions and information requests

Represent team on systems development and process improvement efforts to maximize efficiency and enhance issue identification capabilities

Perform other duties, as directed or required.

Skills and Experience:

Bachelor’s degree required

Minimum 3 years of relevant experience in real estate asset / portfolio management, finance, development or underwriting

Ability to work effectively in a diverse environment with for profit, non profit, public and private organizations

Ability to manage multiple assignments, meet tight deadlines, coordinate and communicate effectively and cultivate new and existing relationships

Understanding of multifamily development, construction, ownership, management and finance

Experience with New York State Agency, Fannie Mae, Freddie Mac Multifamily Asset Management requirements preferred

Knowledge of affordable housing programs and regulations, including Fair Housing, HUD, and LIHTC guidelines preferred

Good analytical, oral and written communication and presentation skills

Ability to travel, as necessary.

This is a hybrid role where you will work from the Chappaqua office two – three days a week. The salary range is $88,000 – $105,000, dependent on experience.

The Community Preservation Corporation is an Equal Opportunity Employer and all employment-related decisions including recruitment, selection, evaluation, promotion, compensation, training and termination are made without regard to race, creed, color, national origin, sex, disability, marital status, status as a veteran, sexual orientation or gender identity, or any other protected status.