Director of Asset Management

Position Overview



Directly responsible for ensuring that the long-term financial health of the properties in the portfolio meets owner, and lender requirements. Involved in all financial aspects of real estate activities from pre-development through operations, repositioning, and limited partner buy-outs. Ensures that established property and financial criteria are met for each property. Works with REM and Facilities staff on capital needs assessments, capital improvements, and use of reserves. Participates in strategic planning and policy development of property assets. Works closely with REM staff on annual budgets to ensure that the properties are performing as originally projected. Ensures clear and concise communication with investors and lenders.



Responsibilities

• Develops and implements Asset Management department goals that will ensure that long-term financial health of all properties meets owner and lender requirements.
• Works with senior management team on company's long range financials and strategic plans.
• Works with REM and RED to create accurate Pro-forma financials and long-term financial plans for new properties.
• Working through Asset Management team, ensures that:
• Capital accounts and losses are reviewed and monitored.
• Limited Partner buyout strategies support established company goals and initiatives.
• Applications for annual and periodic welfare tax exemptions with counties and state agencies are coordinated and monitored.
• General Partners are performing annual duties as defined in partnership agreements.
• Annual operating and 15-Year budgets are reviewed with REM staff.
• Quarterly and annual reporting requirements to agencies are tracked.
• Quarterly P&L reports are reviewed with REM staff and company stakeholders.
• Properties moving into operations are meeting Pro forma performance through first complete fiscal year of full operations.
• Regulatory Agreement and Loan Document compliance related restrictions are reviewed, identified and complied with.
• Proposed property developments are reviewed for marketability and rental rate structures are evaluated against company, owner and lender requirements.
• Develops cross-departmental teams to develop and track cash flow and capital needs.
• Researches databases to refine reporting and data collection and implements Asset Management system with REM, RED, Business Systems and Finance.
• Coordinates special projects such as greening/solar work across portfolio.
• Works with REM and Facilities staff regarding capital assessments, capital improvements and use of reserves including potential energy efficiency options.
• Reviews and analyzes quarterly property financial statements for reports to CEO, CFO, SVP Portfolio and REM Senior Vice President.
• Provides enhanced review and analysis of Watch List properties and properties outside of established benchmarks.
• Oversees training on Asset Management policies and procedures.
• Attends agency/investor-sponsored trainings
• Attends mandatory meetings and trainings
• Actively participates in company's Injury and Illness Prevention Plan
• Regular and predictable attendance.
  
  
  
  

Supervisory Responsibilities

• Supervises, organizes, directs, and monitors daily activities Asset Management and Property Tax Exemption staff.
• Orients new employees to position.
• Trains staff on emergency procedures and employee safety.
• Approves timesheets and time-off requests.
• Sets and oversee employee work schedules.
• Provides performance feedback to employees, including coaching, counseling and disciplining.
• Conducts regular meetings for discussions, problem solving, encouraging, and training.
  
  
  
  
  
  

Qualifications



Bachelors degree in finance, business administration, accounting or related field. 6 - 8 years as an Asset Manager or Project Manager in affordable housing. Experience in reporting to and working with agencies such as HUD, TCAC, CHFA, HOME, USRDA, HCD, RHCP, and investors. 5+ years management/supervisory experience.



Other Requirements

• Must have valid drivers license and DMV clearance.
• Must have access to reliable vehicle and maintain own auto insurance in accordance with Company minimum requirements.