Vice President – Asset Management
Direct and oversee the Asset Management team with a portfolio of approximately 650 Low-Income Housing Tax Credit assets. Vice President will report directly to the Senior Vice President – Asset Management. The team consists of 23 individuals, 10 of which will report directly to the Vice President. The team is made up of Asset Managers, Construction Risk (CRM) Asset Managers, Financial Analysts, Senior Tax Director and Assistant Financial Analyst.
The department is charged with performing quarterly financial reviews and variance analysis, monitoring construction, lease-up, DSC and occupancy, performing annual site inspections, analyzing market conditions, analyzing developer/management company capabilities, ensuring compliance with state and federal programs and approving replacement General Partners and replacement debt. It is responsible for assisting developer-GPs and property management agents in troubleshooting performance issues.
- Oversee and approve capital contribution processing and requesting approval on all exceptions that are being requested.
- Review, edit and provide feedback to Asset Managers on their narratives for quarterly reporting.
- Oversee and manage the Construction Risk Management team, helping mitigate construction risks and proactively working with our General Partners on viable remedies when necessary.
- Working with the Financial Analyst on efficiencies in data importing and reporting.
- Strategize with Asset Managers and the Local General Partners on refinancing opportunities and how to optimize operations.
- Acting liaison with local GP’s when there is delinquent reporting issues.
- Reporting high-level issues/concerns to SVP-Asset Management and other department heads when necessary.
- Preparation and submission of reports for the Fund Management and Asset Management monthly meeting; and
- Responsible to ensure the timely dissemination of reminders and communications to Local General Partners.
A bachelor’s degree is preferred.
Candidate must have 10+ years of experience with a track record of successful, multifamily housing asset management experience at a senior level.
Prior experience with financial analysis, workout strategies and underwriting disciplines.
Experience in Affordable Housing or Low-Income Housing Tax Credits (LIHTC) preferred, but not required.
Strong teamwork skills to foster a collaborative team environment, encouraging new ideas.
Candidate must possess strong organizational skills, excellent verbal and written communication skills.
Make professional presentations to key investors, housing agencies, lenders and general partners.