JOB OPENING Asset Manager JOB STATEMENT SUMMARY Abyssinian Development Corporation ADC a leading

							                                                  JOB OPENING
                                                 Asset Manager
JOB STATEMENT/SUMMARY
Abyssinian Development Corporation (ADC) a leading Harlem based non-profit community development
corporation dedicated to building the human, social and physical capital of Harlem seeks an energetic and highly
motivated Asset Manager to become a member of a dynamic team within the Real Estate Department. The Asset
Manager will be responsible for overseeing all of the owned assets in the ADC portfolio, management of third party
property managers and ensuring ADC's compliance with various regulatory requirements.

ESSENTIAL DUTIES AND RESPONSIBILITIES
          Review the operating and capital budgets prepared by Finance and Property Management Dept’s for
          consistency with historical trends, and industry benchmarks.
          Develop and present portfolio wide analyses on financial, operational, physical, and compliance performance.
          Monitoring of all ADC properties to ensure that an effective management plan is created and being
          implemented by property management department, and that steps and timeline are in place and on schedule.
          Monitor and report all aspects of portfolio performance from reports prepared by Finance and Property
          Management, including financial, operational, physical, and compliance.
          Review financial statements and income tax returns prepared internally, and by external auditors.
          Review operational, financial, physical, and compliance reports to identify areas, patterns, and trends within
          portfolio, and recommend strategies, remedies, and risk mitigation to either sustain, or reverse particular
          trends.
          Inspect and rate properties to ensure corrective action is taken to obtain maximum ratings.
          Develop an understanding of regulatory requirements and other property related agreements to ensure that
          the project is in compliance with all legal and regulatory requirements.
          Ensure that building repairs & maintenance are in compliance with the requirements various regulatory
          agencies (city, state & federal).
          Ensure tenancy compliance with various regulatory agencies.
          Monitor Property Manager and ensure the compliance with terms of Property Management Agreements.
          Monitor leasing of apartments to ensure that they are being leased in accordance with the regulatory
          agreement, and annual budget.
          Establish monthly, quarterly, and annual property management and accounting reporting procedures,
          including format and content of reports.
          Ensure that properties are adequately insured.
OTHER DUTIES
      Other tasks as assigned by Vice President, Real Estate

ESSENTIAL ORGANIZATIONAL RESPONSIBILITIES 
     •    Able to model ADC’s Values and Operating Principles
     •    Able to model ADC guidelines around Accountability
     •    Conducts effective performance evaluations and mentors those with less experience through formal channels.
     •    Suggests areas for improvement in internal processes along with possible solutions.
     •    Challenges others to develop as leaders while serving as a role model and mentor.
     •    Inspires coworkers to attain goals and pursue excellence.
     •    Consistently acknowledges and appreciates each team member’s contributions.
     •    Effectively utilizes each team member to his/her fullest potential.
     •    Motivates team to work together in the most efficient manner.
Posted 3/03/11
Job Title: Asset Manager (pg 2.)

     •    Mitigates team conflict and communication problems.
     •    Facilitates team and client meetings effectively.
     •    Excellent judgment, willingness to make decisions and ability to push back on others (i.e., say no)
          when appropriate. Knows when to ask for help.
     •    Highly reliable to follow through on commitments.
     •    Willingness to work flexible hours.

QUALIFICATIONS
Education and Experience:
Bachelor’s degree in Real Estate, Finance, Accounting, or Economics with six (6) years of work experience in the
field of real estate asset management, commercial development or Graduate Degree in Real Estate Asset
Management, or finance preferred.

Specific Skills:
Knowledge of asset management procedures, low income housing tax credit (LIHTC) regulations, HUD section 8
programs, and DHCR regulations, as it relates to residential real estate ownership and management. Must have strong
quantitative skills (including budgeting, underwriting, and financial statement analysis), excellent communication
skills, be highly organized, and possess good administrative skills. Must be able to appropriately interface with City
Agencies, syndicators, and investors on behalf of ADC.

Supervisory Responsibility:
Third party property managers

Principle Contacts:
Property Management Staff, City, State, and Federal Agencies, Community Boards, tenants, public at large

Physical/Sensory Skills
Ability to frequently visit buildings, meets with lenders, investors, community boards, and elected officials.

Salary Requirements: Competitive and commensurate with experience

Benefits: Attractive benefits package


How to Apply:                                     Submit cover letter and resume to:
                                                           Human Resources
                                                 Abyssinian Development Corporation
                                                      4 West 125th Street, 3rd floor
                                                     New York, New York 10027
                                                   Email: realestatejobs@adcorp.org
                                                         No phone calls please
                      You must indicate job title/position in the subject line of email for which you are applying

                           Abyssinian Development Corporation (ADC) is an equal opportunity employer.




Posted 3/03/11