Job Description
Job Description
About Us :
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.
Today, CPC stands as the largest CDFI solely committed to investing in multifamily housing, having invested more than $15 billion to finance the creation and preservation of more than 230,000 units of quality housing in neighborhoods across New York State and beyond.
CPC has a robust construction lending platform, a mortgage bank, and equity and impact investment platforms that focus on our three goals : Expanding Affordable Housing, Closing the Racial Wealth Gap and Investing in the Green Economy.
As a member of our team, you'll have the opportunity to work on impactful projects that make a real difference in people's lives.
We're looking for talented individuals who are passionate about our mission and share our values of commitment, respect, excellence, accountability, and collaboration.
Role Summary :
The Asset Manager is responsible for implementing day-to-day risk management activities on the CPC loan portfolio. This role will identify and mitigate the credit, financial, operational, physical and market risks impacting the properties collateralizing the loans within the portfolio.
This role 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.
What You’ll do :
- 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 Coordinator.
- 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 with 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, ownership, management and finance.
- Experience with New York State Agency, Fannie Mae, Freddie Mac Multifamily Asset Management requirements preferred.
- Good analytical, oral and written communication and presentation skills.
- Ability to travel, as necessary.
What We Offer :
- Competitive compensation
- 401(k) retirement plans with employer match
- Medical, dental, and vision benefits for employees and their dependents
- Commuter benefits
- PTO for vacation, personal days, sick leave, holidays, jury duty, bereavement, parental leave, and disability
- Tuition assistance program
- Two work from anywhere weeks per year
- Summer Fridays
- Collaborative working spaces
- Service days to support our communities
- Employee development and engagement events
- More about our offerings and culture here
This is a full-time, hybrid role where you will work from the Chappaqua office two - three days a week. The salary range is $85,000 $100,000, 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.