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Director of Asset Management

Director of Asset Management

JOB DESCRIPTION: Director of Asset Management

POSITION SUMMARY: This position is responsible for overseeing all asset management activity, thus ensuring that all owned assets are managed, financed, operated, and physically maintained to optimum potential.

ESSENTIAL FUNCTIONS:

  • Ensure optimal operation and performance of each asset through development and execution of strategic business plans, ongoing management reviews, accounting forensics, and operating expense trends.
  • Maintain in-depth knowledge of HUD, RD, tax credit, and state HFA regulatory policies and procedures, and provide internal technical training and assistance with budgets and regulatory compliance, as necessary.
  • Manage capital needs assessments, including understanding the physical condition of properties, forecasting capital plans and budgets, and monitoring reserve levels.
  • Ensure positive financial plans through the review, approval, and analysis of annual operating budgets.
  • Establish performance benchmarks for properties, monitor ongoing performance, and compare results against initial projections and market forces.
  • Development and maintain the integrity and quality of property data systems.
  • Monitor, analyze, and report on audited financial statements, financial performance, and current and historical financial and program performance, including providing periodic updates.
  • Develop and implement exit strategies for tax credit properties at or near year 15, making recommendations for dispositions as necessary.
  • Prepare updates for third party investor reports and client reporting, as applicable.
  • Through market research and periodic site visits, maintain an understanding of the rental market in general, and Avesta properties in relation to the market.
  • Coordinate asset management departmental activities with internal and external customers and vendors.
  • Supervise, train, and evaluate Asset Management Associate.

ADDITIONAL FUNCTIONS:

  • Participate on committees as assigned.
  • Other duties as assigned.

QUALIFICATIONS:

  • Bachelor’s Degree in related field, or commensurate combination of education and work experience.
  • Minimum of 5-10 years of real estate and asset management experience with focus on affordable housing.
  • Strong organizational skills with exceptional attention to detail, ability to multi- task, and think systematically and strategically in developing and refining procedures and systems to meet business objectives.
  • Extensive knowledge of HUD, RD, state HFA, and tax credit regulatory compliance.
  • Demonstrated expertise and knowledge of property management policies, procedures and systems.
  • Experience with HUD, RD, tax credit and conventional financing mechanisms.
  • Knowledge of the multi-family housing environment and market.
  • Demonstrated ability in interpersonal and business communications and a collaborative approach and respectful relationship style with colleagues and consultants.
  • Sound fundamental knowledge of accounting, financial analysis, and real estate valuations.
  • Experience in reading and interpreting contractual agreements.
  • High proficiency in information technology tools, primarily database programs and Microsoft Office products including Excel, Word and PowerPoint.

REPORTS TO: SVP – Finance & Administration

SUPERVISES: Asset Management Associate

CLASSIFICATION: Exempt

PAY LEVEL: 10

 

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