Connecticut Housing Finance Authority · 11 hours ago
Director of Multifamily Asset Management
Rocky Hill,CT,US
Full-time
Hybrid
Senior Level, Lead/Staff
$132K/yr - $216K/yr
10+ years expConnecticut Housing Finance Authority (CHFA) is a self-funded, quasi-public organization focused on creating affordable housing opportunities in Connecticut. The Director of Multifamily Asset Management leads the multifamily portfolio management program, ensuring compliance and financial health of the portfolio while providing strategic guidance to the department's initiatives.
FinanceFinancial ServicesLending
Responsibilities
Advise Deputy Managing Director and Managing Director on strategic goals and vision for Asset Management including programming, staffing, budget and development
Manage a team of asset managers and other staff to assess the performance of CHFA's multifamily developments by assessing financial performance, review of annual budgets and audited financial statements, other deliverables, conducting secondary reviews, compliance with covenants, including calculating cash flow share or additional interest due to CHFA, residual receipts or other forms of escrow held by the Authority. Review the performance of properties over time to identify trends, implement reporting tools to track performance and strategies such as effective risk rating management tools to provide effective oversight
Serve as the point of contact with CHFA's third party contractor regarding tax credit compliance, addition of new properties to the contractor's portfolio, hosting educational workshops for owners and agents, reporting non-compliance to the IRS, and other functions as necessary to maintain compliance with federal, state and CHFA policies and procedures
Conduct or review staff's required periodic management reviews, site visits, and unit observations, review of rent increases for properties in CHFA's portfolio to ensure compliance with rules and regulations of all relevant federal, state, local and CHFA policies and procedures. Evaluate the physical condition and administrative policies of the development; follow up on physical inspections for any health and safety issues found during the inspection. Ensure compliance with reporting requirements per the governing documents. Respond to residents, owners, management agents, legislative and constituent inquiries, collaborating with the government relations director
Coordinate with the development team regarding compliance feedback for new applications. Respond to inquiries such as affordability and reporting requirements. Review of management plan, tenant selection plan, marketing plan for multifamily developments. Review and approve development team, including proposed management agent for new and existing customers
Provide exceptional customer service at the site level solving problems related to applicants, tenants, and other occupancy related issues. Meet with owner/agents to assist with resolving cash flow concerns, compliance and other matters to bring properties back into compliance
Serve as the point of contact with owners and agents in reviewing assumptions, reserves processing, payoff requests, ownership transfers and other actions as needed in accordance with the terms and conditions of the governing documents, and CHFA policies and procedures. Host trainings and workshops, including representing CHFA at conferences, trade associations, to present relevant topics. Present at internal committees and Board of Directors action items that require approval. Strengthen relationships with external customers by hosting meetings, providing technical assistance, and developing training
Responsible for mitigating the impact of under-performing, delinquent, and defaulted multifamily loans by implementing timely and appropriate steps to address credit quality issues. Collaboration with Finance, Legal, and other areas of CHFA regarding delinquent borrowers and follow up action as necessary. Collaborate with the workout officer and other areas of CHFA to transition troubled debt for recovery and other action as necessary to mitigate the Authority's financial exposure
Collaborate with Compliance Officer on responding to internal audit findings and implement process improvements
Maintain awareness of statewide economic and vacancy market conditions affecting multifamily properties and keeping staff and senior management apprised on a regular basis, including implementation of effective reporting tools and dashboards. Perform regular reviews to identify preservation opportunities for multifamily customers
Develop, implement and manage a Preservation of Affordable Housing program to ensure the retention of affordable and subsidized units and the extension of affordability commitments
Support CHFA's goals and objectives by coordinating/reviewing staff goals and objectives, authoring performance reviews and evaluations; conduct associated performance reviews with staff. Maintain updates to policies, procedures, guidelines, manuals, forms/templates as necessary
Support and promote Policy Initiatives and Strategic Plan goals through the analysis and review of key department status reports and benchmarks. Lead in reviewing internal department processes and requirements to streamline and promote efficiency within the Authority overall to better position CHFA with external partners and future customers to gain a greater market share, improve customer loyalty and strengthen CHFA's reputation as a superb financial lender
Act as budget manager for Multifamily, drafting department budget and approving expenditures
Assist with other functions and duties assigned to this position by the Managing Director of Multifamily
Qualification
Required
BS/BA degree in business, accounting, finance, or related field
Minimum of seven (7) years of direct supervisory experience
Minimum of ten (10) years of experience in multifamily rental housing, program compliance, auditing, portfolio management, HUD programs such as Section 8, the low-income housing tax credit, tax exempt bonds and other resources used to develop and monitor affordable housing for compliance
Minimum of three (3) years of experience in the preservation of affordable assets
Experience in the management of a large portfolio of affordable multifamily rental properties
Proven ability to manage, provide leadership, meet deadlines, and work effectively and efficiently in a busy work environment
Experience with strategic planning and developing organizational priorities
Knowledge of federal tax credit and state programs, HUD Section 8, servicing, and program compliance
Ability to interpret legal documents, conduct feasibility analysis, capital needs analysis, HUD regulations, Section 42, multifamily tax-exempt housing bond guidelines and other federal and state regulations
Five to seven years of management or supervisory experience in the multifamily housing industry
Excellent verbal and written communication skills to interact with professionals from a wide variety of disciplines
Strong analytical skills and attention to detail
Proven experience working with monitoring real estate portfolios, including knowledge of federal and state programs
Demonstrated ability to implement initiatives, provide accurate and detailed information, provide guidance to staff and be a decision-maker
Detail oriented with eye on quality, strong organizational skills, and ability to multi-task
Strong ethical decision-making skills demonstrating a high level of integrity in all situations
Ability to demonstrate and promote a high level of commitment to customer service
Ability to work effectively with a diverse customer base
Computer skills including Microsoft Word™ and Excel™, cash flow software and other database programs
Preferred
CPM designation
Benefits
Competitive salaries
Tuition reimbursement
457 deferred compensation
State sponsored pension plan
Comprehensive health, dental, life, and disability plan
Paid vacation
Sick, and holidays
Hybrid work schedule
Ongoing training
Career development
If qualified, employee may be eligible for student loan forgiveness under Federal Loan assistance program
Company
Connecticut Housing Finance Authority
Connecticut Housing Finance Authority is a housing finance agency.
51-200 employees
Funding
Current Stage
Growth StageTotal Funding
$2MKey Investors
Community Development Financial Institutions Fund
2024-10-23Grant· $2M
Leadership Team
Rosie Armstrong
Executive Assistant to Chief Executive Officer
Recent News
Hartford Business Journal
2026-01-16
Hartford Business Journal
2026-01-11
Hartford Business Journal
2026-01-09
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