Asset Manager - Stabilized
VP, Asset Management
In the office Tuesday, Wednesday, and Thursday (Flex days: Monday and Friday)
CREA, LLC is a full-service Low Income Housing Tax Credit (LIHTC) syndicator forming long-term relationships with investors and developers that cultivate success and improve lives. As CREA celebrates over 20 years in business, $9.2+ billion has been raised, contributing to the formation of over 73,000 homes within 797 properties. With over 150 employees, we continue to look for talented and passionate individuals who are excited about opportunities to grow with us. We are currently looking to add a talented Business Analyst to the IT – Business Intelligence & Analysis department in the Portland, Oregon CREA office.
This position will play an important role in managing assets in the Development phase within CREA, LLC’s portfolio of Section 42 low-income housing tax credit projects.
Oversee and monitor LIHTC projects from receipt of executed 8609s or final release of equity through the end of the 15-year compliance period
Maintain a detailed working knowledge of each project within the assigned portfolio
Reporting & Compliance
Collect, review, and provide reporting on monthly, quarterly, and annual basis for the lower-tier partnerships
Analyze partnership financial statements and perform risk rating analysis
Perform cash flow analysis and ensure distributions are made timely and in accordance with agreements.
Collect tax returns and audits from the lower tier partnerships and coordinate review and approval through CREA Fund Management Group
Monitor projects for compliance with partnership agreements
Maintain a detailed working knowledge of Section 42 LIHTC program compliance requirements
Verification that real estate property taxes are paid current and insurance coverage is adequate and up to date.
Coordinate annual compliance reviews with third-party compliance consultants and perform some compliance work in-house
Technology & Special Projects
Work with a centralized database system to track project data
Special projects and reporting as requested
Perform annual site visits to each apartment complex and follow up on deferred maintenance comments until corrected.
A minimum of two years of direct experience analyzing Section 42 (low-income tax credit) financial statements in the areas of asset management, public accounting, multifamily property management, or development is required. Bachelor’s degree is preferred, but not required, with a major in accounting, finance, real estate, property management, or business. A working understanding of how to read various legal agreements, compliance of those agreements, and the ability to identify and verbalize issues/concerns are preferred. Must be proficient with Microsoft Office, Adobe, Excel, and Word. Candidate must have excellent communication skills and the ability to comfortably interact with senior management internally and a large external client base. A valid driver’s license is required for overnight travel of up to 20%. Some overtime is required periodically throughout the year. Must possess and be able to demonstrate effectiveness with each of the following Core Competencies:
Strong analytical, organizational, interpersonal, and time management skills
Excellent oral and written communication skills
Ability to efficiently receive, monitor, and follow through on requests, projects, and problems to completion
Ability to multi-task, prioritize and meet deadlines
Ability to effectively manage and administer sensitive and confidential information.
Must have strong initiative and can work with minimal guidance & supervision
Professionalism/Ethics (Trust, Attitude, Commitment, Honesty, Collaboration & Approachability)
We work as a family, investing in each other, worthy causes, and the communities we serve.
We have integrity in all that we do; we embrace differences and treat others with kindness and respect.
We believe that, with teamwork, we can accomplish anything and pursue inventive solutions for our clients.
CREA believes in rewarding the hard work of all those that make our mission possible. Learn about our competitive employee benefits at MyCREABenefits.com.