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.
- 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.
- Participate on committees as assigned.
- Other duties as assigned.
- 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
PAY LEVEL: 10
CLICK HERE TO APPLY FOR THIS POSITION.