Address
Form of work NOTICE OF VACANCY
THE EXECUTIVE DIRECTOR OF THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY INVITES APPLICATIONS FROM QUALIFIED CANDIDATES FOR THE FOLLOWING:
Job Title:
Director of Asset Management
Issue Date:
Reposted
12/04/2023
01/18/2024
Salary Range:
R16 $94,004 - $161,883
Closing Date:
Updated Closing Date:
12/31/2023
02/1/2024
Division:
Asset Management
Union Status:
Non-Union
FL Status:
Exempt
Employment Status:
Full Time
JOB DESCRIPTION
*Individuals who applied to the previous posting do not need to reapply for consideration *
Under general supervision of the Chief of Multifamily Programs, plan, coordinate, and direct the activities of the Division; direct the Division's monitoring operations of HMFA financed multi-family developments; direct the Contract Administration initiative; continuously seek ways to improve livability and maintenance of HMFA financed developments through the identification and resolution of existing problems; making more effective use of project facilities and community services; assist other Divisions with problem-solving related to troubled developments; perform related duties as required.
1. Provide general supervision to subordinate staff; plan, organize, and direct the activities of the Division; assign, review, establish performance goals for, and evaluate the work of subordinate staff. Assist in the orientation of new Division staff members.
2. Plan and coordinate the development and implementation of administrative policies relative to the daily operation of the Division. Confer with Assistant Directors and Managers to ensure the efficiency of programs.
3. Provide technical and administrative support to the Division in accordance with federal, state, and Agency guidelines. Interpret policies and objectives of the HMFA to staff.
4. Assist on-site management personnel to make more effective use of project facilities and community services. Identify and resolve problems related to livability and maintenance; establish preventive maintenance programs based on analyses of operating problems.
5. Assist the Executive Director and the Chief of Multifamily Programs in evaluating current Agency regulations, policies, and procedures governing the Asset Management Division and recommend revisions as needed.
6. Manage various programs and accounts established for the purpose of assisting Agency-financed projects. Programs and accounts include the Capital Improvement Assistant Program, Portfolio Reserve Account, Community Development Escrow, Development Cost Escrow, and the Project Subsidy Reserve Fund.
7. Provide information and analysis regarding the operations of Agency-financed projects to Executive, Regulatory Affairs, Multifamily, Tax Credits, Audit and Technical Services, and Capital Markets divisions, as requested.
8. Perform final review and approval of rent increase requests; proposed operating expenses included in applications for financing; ROE disbursements; management contracts; requests for disbursal of syndication proceeds; physical inspection reports.
9. Participate in the development of strategies to address projects with significant mortgage arrears and/or physical problems.
10. Notify owners and managing agents of Agency-financed projects of changes to Agency regulations, policies, and procedures.
11. Perform special assignments for the Executive Director or other members of the Executive team as requested; prepare responses to issues, inquiries, and correspondence received by the Executive Director; prepare items requiring approval of the Agency Board of Directors.
12. Assist in the planning and operation of the JAHMA Management Event and the Governor's Conference on Housing and Economic Development.
13. Prepare Divisional Weekly Reports, Benchmarking, Occupancy/Rent-up, and Debt Service Arrears Reports for submission to the Executive Director and other Agency staff within the designated time frame.
14. Oversee the Management Task Force comprised of Agency staff, managing agents, and representatives of HUD to discuss issues, and impending changes to policies, procedures, and/or HUD regulations and standards of the affordable housing industry. Report any critical information to the Executive Director as necessary.
15. Coordinate the annual evaluation of the performance of managing agents of each project, relative to compliance with Property Management Policies and Procedures.
16. Prepare the Divisional budget on an annual basis; research the division's needs, review with the Chief, and submit by the required deadline
17. Direct the activities of the Asset Management Division.
18. Perform related duties as required.
MINIMUM REQUIREMENTS
EDUCATION/EXPERIENCE:
Four (4) year degree in Business Administration or Accounting; extensive experience in multi-family property management; minimum of eight (8) years of supervisory experience or directing the activities of a large operating unit; or any equivalent combination of experience and training which provides the required knowledge, skills and abilities.
Physical Demands
Ability to lift 10 pounds
Working Conditions
General office environment; some travel is required.
Certificates & Licenses Required
A valid driver's license in the state in which the person resides is required only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essential duties of the position.
SKILLS:
o Thorough knowledge of federal and real state property management standards.
o Thorough knowledge of Federal and State regulations concerning multi-family housing.
o Thorough knowledge of administrative principles and practices of public administration; research methods and techniques.
o Thorough knowledge of principles of capital budgeting.
o Ability to analyze budgets and financial statements.
o Ability to analyze site and feasibility studies.
o Ability to develop work productivity forecasts.
o Ability to effectively plan, develop, and implement comprehensive administrative programs
o Ability to communicate effectively, orally, in writing, and to listen actively.
o Ability to plan, organize, and direct the work activities of subordinate staff.
o Ability to establish effective working relationships with other Agencies, State and Federal officials, Agency employees, professional groups, and the general public.
o Ability to work collaboratively on cross-functional teams and to work effectively with all levels of internal and external organizations
BENEFITS
NJHMFA provides a comprehensive benefit package which includes:
Residency in the State of New Jersey is required of all employees with an agency of the State in accordance with the New Jersey First Act, N.J.S.A. 52:14-7 (L. 2011, Chapter 70). Employees must comply with the "New Jersey First Act" which requires employees hired after September 1, 2011 to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.
The NJHMFA is an Equal Opportunity Employer in compliance with all Federal, State and Local Regulations. NJHMFA provides equal employment opportunity to both individuals with veteran status and individuals with disabilities.
Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.
THE EXECUTIVE DIRECTOR OF THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY INVITES APPLICATIONS FROM QUALIFIED CANDIDATES FOR THE FOLLOWING:
Job Title:
Director of Asset Management
Issue Date:
Reposted
12/04/2023
01/18/2024
Salary Range:
R16 $94,004 - $161,883
Closing Date:
Updated Closing Date:
12/31/2023
02/1/2024
Division:
Asset Management
Union Status:
Non-Union
FL Status:
Exempt
Employment Status:
Full Time
JOB DESCRIPTION
*Individuals who applied to the previous posting do not need to reapply for consideration *
Under general supervision of the Chief of Multifamily Programs, plan, coordinate, and direct the activities of the Division; direct the Division's monitoring operations of HMFA financed multi-family developments; direct the Contract Administration initiative; continuously seek ways to improve livability and maintenance of HMFA financed developments through the identification and resolution of existing problems; making more effective use of project facilities and community services; assist other Divisions with problem-solving related to troubled developments; perform related duties as required.
1. Provide general supervision to subordinate staff; plan, organize, and direct the activities of the Division; assign, review, establish performance goals for, and evaluate the work of subordinate staff. Assist in the orientation of new Division staff members.
2. Plan and coordinate the development and implementation of administrative policies relative to the daily operation of the Division. Confer with Assistant Directors and Managers to ensure the efficiency of programs.
3. Provide technical and administrative support to the Division in accordance with federal, state, and Agency guidelines. Interpret policies and objectives of the HMFA to staff.
4. Assist on-site management personnel to make more effective use of project facilities and community services. Identify and resolve problems related to livability and maintenance; establish preventive maintenance programs based on analyses of operating problems.
5. Assist the Executive Director and the Chief of Multifamily Programs in evaluating current Agency regulations, policies, and procedures governing the Asset Management Division and recommend revisions as needed.
6. Manage various programs and accounts established for the purpose of assisting Agency-financed projects. Programs and accounts include the Capital Improvement Assistant Program, Portfolio Reserve Account, Community Development Escrow, Development Cost Escrow, and the Project Subsidy Reserve Fund.
7. Provide information and analysis regarding the operations of Agency-financed projects to Executive, Regulatory Affairs, Multifamily, Tax Credits, Audit and Technical Services, and Capital Markets divisions, as requested.
8. Perform final review and approval of rent increase requests; proposed operating expenses included in applications for financing; ROE disbursements; management contracts; requests for disbursal of syndication proceeds; physical inspection reports.
9. Participate in the development of strategies to address projects with significant mortgage arrears and/or physical problems.
10. Notify owners and managing agents of Agency-financed projects of changes to Agency regulations, policies, and procedures.
11. Perform special assignments for the Executive Director or other members of the Executive team as requested; prepare responses to issues, inquiries, and correspondence received by the Executive Director; prepare items requiring approval of the Agency Board of Directors.
12. Assist in the planning and operation of the JAHMA Management Event and the Governor's Conference on Housing and Economic Development.
13. Prepare Divisional Weekly Reports, Benchmarking, Occupancy/Rent-up, and Debt Service Arrears Reports for submission to the Executive Director and other Agency staff within the designated time frame.
14. Oversee the Management Task Force comprised of Agency staff, managing agents, and representatives of HUD to discuss issues, and impending changes to policies, procedures, and/or HUD regulations and standards of the affordable housing industry. Report any critical information to the Executive Director as necessary.
15. Coordinate the annual evaluation of the performance of managing agents of each project, relative to compliance with Property Management Policies and Procedures.
16. Prepare the Divisional budget on an annual basis; research the division's needs, review with the Chief, and submit by the required deadline
17. Direct the activities of the Asset Management Division.
18. Perform related duties as required.
MINIMUM REQUIREMENTS
EDUCATION/EXPERIENCE:
Four (4) year degree in Business Administration or Accounting; extensive experience in multi-family property management; minimum of eight (8) years of supervisory experience or directing the activities of a large operating unit; or any equivalent combination of experience and training which provides the required knowledge, skills and abilities.
Physical Demands
Ability to lift 10 pounds
Working Conditions
General office environment; some travel is required.
Certificates & Licenses Required
A valid driver's license in the state in which the person resides is required only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essential duties of the position.
SKILLS:
o Thorough knowledge of federal and real state property management standards.
o Thorough knowledge of Federal and State regulations concerning multi-family housing.
o Thorough knowledge of administrative principles and practices of public administration; research methods and techniques.
o Thorough knowledge of principles of capital budgeting.
o Ability to analyze budgets and financial statements.
o Ability to analyze site and feasibility studies.
o Ability to develop work productivity forecasts.
o Ability to effectively plan, develop, and implement comprehensive administrative programs
o Ability to communicate effectively, orally, in writing, and to listen actively.
o Ability to plan, organize, and direct the work activities of subordinate staff.
o Ability to establish effective working relationships with other Agencies, State and Federal officials, Agency employees, professional groups, and the general public.
o Ability to work collaboratively on cross-functional teams and to work effectively with all levels of internal and external organizations
BENEFITS
NJHMFA provides a comprehensive benefit package which includes:
- Medical, prescription, dental, vision & long term disability
- FSA & HSA
- Public Service Loan Forgiveness and Tuition Reimbursement
- Public Employees' Retirement System (PERS)
- Deferred compensation plans
- Employee assistance services (EAS)
- State employee discounts program
- Paid personal, sick and vacation days
- Paid holidays
- Partial Telework
Residency in the State of New Jersey is required of all employees with an agency of the State in accordance with the New Jersey First Act, N.J.S.A. 52:14-7 (L. 2011, Chapter 70). Employees must comply with the "New Jersey First Act" which requires employees hired after September 1, 2011 to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.
The NJHMFA is an Equal Opportunity Employer in compliance with all Federal, State and Local Regulations. NJHMFA provides equal employment opportunity to both individuals with veteran status and individuals with disabilities.
Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.
