Asset Management Portfolio Manager (Development Officer) - Housing

Job Description:

Asset Management Portfolio Manager (Development Officer) - Housing

Description

Our diverse and inclusive workforce of more than 7,000 employees play a key role in the success of San José, the heart of the Silicon Valley. All City of San José employees work together as one team to make San José a vibrant, innovative, and desirable place to live and work. Visit here to learn more about our One Team Leadership Values and Expectations, including quality and excellent customer service and here to learn more about San José.

The City of San José is an equal opportunity employer. Applicants for all job openings will be considered without regard to age, race, color, religion, sex, national origin, sexual orientation, disability, veteran status or any other consideration made unlawful under any federal, state or local laws. The City of San José is committed to offering reasonable accommodations to job applicants with disabilities. If you need assistance or an accommodation due to a disability, please contact us at 408-535-1285, 711 (TTY) , or via email at [email protected] .

About the Department

The City of San José Housing Department is a leader in the development of affordable housing. Its mission is to strengthen and to revitalize our community through housing and neighborhood investment. The Housing Department provides loans for the development of affordable housing and manages a portfolio of over 17,000 housing units with a total value that exceeds $700 million. Over the next five years, the City Council has a goal of creating 25,000 housing units, 10,000 of which will be affordable. The Housing Department has an operating budget of approximately $19 million and 112 employees. The Housing Department is committed to creating and supporting a diverse work environment with a staff that values inclusion.

Position Duties

The Housing Department is currently seeking to fill a full-time vacancy in the Residential Development Division for the Development Officer Classification.

The salary range for this classification is $122,020.08 - $148,643.04.

This salary range(s) includes an approximate five percent (5%) ongoing non-pensionable compensation. Actual salary shall be determined by the final candidates’ qualifications and experience.

Portfolio Manager Duties:

The Development Officer in the Asset Management team will be responsible for overseeing the long-term financial performance, regulatory compliance, and asset strategy of the City’s affordable housing portfolio. The position is responsible for ensuring compliance with financing and affordability agreements, protecting the City’s financial interest, and maintaining the long-term viability of affordable housing developments. The Development Officer should be well versed in real estate finance, have strong financial and technical skills. Candidates must be able to understand, interpret, and enforce financing and development agreements. In addition, they must have a general understanding of finance and accounting, fair housing, rental laws, and rent limits. Tasks may include, but not limited to: Monitoring the financial performance of the City's affordable housing portfolio by reviewing annual operating budgets, audited financial statements, reserve balances, cash flow analyses, loan servicing activities, and project financial performance to identify risks and recommend appropriate strategies to protect both the borrower and the City's investment;

• Administering and enforcing financing agreements, regulatory agreements, affordability restrictions, and other loan documents by interpreting and applying local, state, and federal regulations, negotiating amendments, processing loan modifications, collecting fees and residual receipt payments, and ensuring compliance with City lending requirements;
• Overseeing regulatory compliance activities, including reviewing tenant income certifications, rent schedules, management plans, insurance coverage, physical inspection reports, and other compliance documentation to ensure adherence to affordability requirements, fair housing laws, and applicable federal, state, and local regulations;
• Conducting project risk assessments and portfolio analyses to evaluate the financial and operational health of affordable housing developments, developing asset management strategies, and preparing recommendations, reports, and presentations for executive management and the City Council;
• Managing housing programs or projects, including developing policies and procedures, coordinating with internal staff, property owners, lenders, regulatory agencies, and community partners, providing technical assistance, negotiating agreements, and supporting the implementation of departmental initiatives.

The ideal candidate for this position will be comfortable working in a diverse environment and have extensive experience in affordable housing finance, real estate asset management, banking, lending, or commercial real estate. The successful candidate will possess strong analytical, financial, and regulatory compliance skills; have experience interpreting complex legal and financial documents; and demonstrate the ability to evaluate project performance while balancing risk management with long-term affordable housing preservation objectives. In addition, the ideal candidate will be a team player and have demonstrated values that align with the City of San Jose’s values of: Integrity, Innovation, Excellence, Collaboration, Respect, Celebration and Diversity.

Minimum Qualifications

Education and Experience: Bachelor’s Degree from an accredited college or university in Planning, Housing, Geography, Economics, Business Administration, Public Administration, Political Science, Sociology or related field, and four (4) years of increasingly responsible directly related work experience, including one (1) year performing work of a similar nature and level as Development Specialist with the City of San José.

Acceptable Substitutions: Additional related experience may be substituted for the education requirement on a year-for-year basis.

Required Licensing (such as driver’s license, certifications, etc.): Possession of a valid State of California driver’s license may be required for some assignments.

Form 700 requirement: This position requires a disclosure of outside investments, real property interest, income, and business positions. You must complete and file an “Assuming Office Form 700” with the City Clerk’s Office within the first 30 days of employment with the office.

Other Qualifications

The ideal candidate will possess the following competencies, as demonstrated in past and current employment history.

• Job Expertise - Demonstrates knowledge of and experience with applicable professional/technical principles and practices, Citywide and departmental procedures/policies and federal and state rules and regulations. Knowledge of urban renewal, neighborhood preservation, low-income housing programs or affordable housing development.
• Communication Skills - Effectively conveys information and expresses thoughts and facts clearly, orally and in writing; demonstrates effective use of listening skills and displays openness to other people's ideas and thoughts.
• Teamwork and Interpersonal Skills - Develops effective relationships with co-workers and supervisors by helping others accomplish tasks and using collaboration and conflict resolution skills.
• Computer Skills - Experienced with common business computer applications including but not limited to: MS Outlook, MS Word, MS PowerPoint, MS Access, and MS Excel.
• Analytical Thinking - Approaching a problem or situation by using a logical, systematic, sequential approach.
• Collaboration - Develops networks and builds alliances; engages in cross-functional activities.
• Project Management - Ensures support for projects and implements agency goals and strategic objectives.
• Supervision - Sets effective long and short-term goals based on a good understanding of management practices; establishes realistic priorities within available resources; provides motivational support; empowers others; assigns decision-making and work functions to others in an appropriate manner to maximize organizational and individual effectiveness.

Selection Process:

The selection process will consist of an evaluation of the applicant's training and experience based on the application and responses to all the job specific questions. You must answer all questions to be considered, or your application may be deemed incomplete and withheld from further consideration. Applicants are expected to write their own essays/responses. Please be advised that use of AI content in your responses may result in your removal from the hiring process. Only those candidates whose backgrounds best match the position will be invited to proceed in the selection process.

If you have questions about the duties of these positions, the selection or hiring processes, please contact Ellesia Janto at [email protected]. The application deadline is November 30, 2026 at 11:59PM.

Additional Information:

Employment Eligibility: Federal law requires all employees to provide verification of their eligibility to work in this country. Please be informed that the City of San Jose will NOT sponsor, represent or sign any documents related to visa applications/transfers for H1-B or any other type of visa which requires an employer application.

You must answer all job-specific questions to be considered for this vacancy or your application will be deemed incomplete and withheld from further consideration. Applicants are expected to write their own essays/responses.

Please note that applications are currently not accepted through CalOpps or any other third party job board application system.

This recruitment may be used to fill multiple positions in this, or other divisions or departments. If you are interested in employment in this classification, you should apply to ensure you are considered for additional opportunities that may utilize the applicants from this recruitment.

Please allow adequate time to complete the application and submit before the deadline or the system may not save your application. If your online application was successfully submitted, you will receive an automatic confirmation email to the email address you provided. IF YOU DO NOT RECEIVE THE CONFIRMATION, please email [email protected] and we will research the status of your application.

AI and the Hiring Process

We recognize that Artificial Intelligence (AI) is becoming part of daily life and can be a valuable tool for learning, research, and professional growth. We encourage candidates to use AI responsibly as a support in preparing application materials, live assessments, and interviews. However, we value authenticity, accuracy and truthfulness. Application responses and interview answers must reflect your own knowledge, skills, and experiences. While AI can supplement preparation, it cannot replace the originality and judgment we look for in our employees. This ensures fairness, transparency, and equity for all applicants in the hiring process.

The City of San Jose offers a wide range of core health benefits including Medical, Dental, Vision, Employee Assistance Program, Life Insurance, Disability, and Savings Plans. Please visit the City's benefits pagefor detailed information on coverage, cost, and dependent coverage.

For information on the City’s Retirement Plan(pension for full-time employees), please visit the Office of Retirement Services website. You will be able to view information based on different Sworn/Federated job classification.

In additional to the benefits above, there is an additional perks siteto explore further benefits of working for the City of San Jose like paid leave, educational reimbursements, and holiday pay are specific to the job classification and union membership.

Closing Date/Time: 11/30/2026 11:59 PM Pacific

Salary:

$122,020.08 - $148,643.04 Annually