• Asset Manager

    Posted Date 2 weeks ago(9/30/2019 10:35 AM)
    Req ID
    2019-17363
    Dept
    Neighborhood Development
    Position
    Regular Full-Time
    Location
    CITY OF BOSTON: DEPT OF NEIGH DEV (DND)
    Salary Min
    55,581.82
    Salary Max
    81,636.77
    Union
    SU2
    Openings
    1
    Posting End Date
    10/21/2019
    Contact Email
    CATHLEEN.COLEMAN-FIUMARA@boston.gov
  • Overview:

    The mission of the Department of Neighborhood Development (DND) is to make Boston the most livable city in the nation by working with communities to build strong neighborhoods through the strategic investment of public resources.  DND oversees programs that create and preserve affordable housing, support homeowners and renters, provide housing and services to homeless individuals and families, and dispose of city-owned property.  

     

    Much of the financial assistance DND provides to affordable housing developers and homeowners is in the form of loans.  The Loan Management Unit within DND is responsible for managing DND’s loan portfolio, including billing and disbursements, as well as processing new loans, loan modifications, subordinations, and discharges.

     

    Brief Job Description (essential functions of the job):

     

    Under the supervision of the Assistant Director for Loan Management, the Asset Manager performs various functions related to the maintenance of the department’s loan portfolio and performs special projects as directed.  The Asset Manager is a key member of DND’s Finance Division, ensuring that existing loans are in good standing and that new loans are set up in accordance with departmental policies and procedures.

     

    Responsibilities:

    • Assists the Assistant Director for Loan Management in developing processes to maintain or improve real estate assets in a cost-effective manner.
    • Reviews the operating budgets and financial documents provided by developers to monitor the financial accountability of DND’s partners.
    • Reviews and responds to annual financial audit confirmations requested by developers’ accountants.
    • Creates, reviews and mails invoices for active repayment loans on a monthly basis.
    • Tracks loan payments for active repayment and cashflow loans.
    • Identifies past due/delinquent loans, mails out past due notices, and communicates with borrowers or escalates to Assistant Director as needed.
    • Assists the Assistant Director for Loan Management in identifying potential areas of savings on capital costs required to preserve and rehabilitate aging properties.
    • Monitors compliance with DND loans terms and conditions, operating and syndication agreements (if applicable), and/or follow up with Compliance regarding rental of units to low and moderate income tenants.
    • Reviews and determines loan payoff amounts for housing and commercial loans.
    • Reviews/processes loans/grant disbursement requests.
    • Maintains loan/grant documentation for audit purposes using an electronic filing system.
    • Performs related work as required. 

    Minimum Entrance Qualifications:

    • At least three (3) years of fulltime, or equivalent part-time experience in asset management, loan operations or related field. A degree in a related field (finance, accounting, real estate) can be substituted for one year of experience.
    • Strong organizational, problem solving and communication skills.
    • Knowledge of Real Estate Finance, loan disbursement/repayment tracking preferred.
    • Ability to read and interpret complex loan documents.
    • Demonstrated proficiency with administrative software applications, programs and data systems including but not limited to Microsoft Office, Salesforce, and PeopleSoft.
    • Ability to exercise good judgment and focus on detail as required by the job.

     

     

    BOSTON RESIDENCY REQUIRED.

     

    Terms:

    Union/Salary Plan/Grade: SEIU 888/N-21

    Hours Per Week: 35

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