Job Description

Director of Asset Management (Affordable Housing)

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Our SelectLeaders' client is a leading nonprofit developer of affordable homes, creating and managing a range of high-quality, affordable housing. They are seeking a Director of Asset Management.

This role reports to the Senior Vice President of Asset Management and Compliance and supervises a team of three to four staff. The focus is on strategic management of a portfolio of properties in California and the Pacific Northwest.

The objective is to optimize portfolio performance through strategic and long-term thinking while completing short-term projects. Responsibilities include analyzing project and portfolio performance, focusing on financial, operational, and physical health of properties.

The DAM collaborates with teams across finance, property management, legal, insurance, and development, and reports performance metrics regularly to senior management.

Responsibilities

• Oversee the portfolio, ensuring properties meet financial and physical standards.
• Manage pre-stabilization properties to meet performance expectations.
• Participate in lease-up of new projects.
• Manage a team of asset management professionals.
• Recommend and execute financial restructuring, refinancing, and investor exit strategies.
• Administer LIHTC capital accounts with annual analysis and tax projections.
• Collaborate on rehab and re-syndication opportunities with development teams.
• Coordinate rehab projects with relevant managers.
• Develop and refine reporting procedures and systems.
• Think strategically about portfolio management and multiple projects.
• Leverage knowledge of real estate development, finance, and asset management for effective cross-department collaboration.

Financial Analysis

• Evaluate property plans to meet long-term cash flow targets.
• Manage annual budgets and propose solutions for cash-flow issues.
• Monitor financial performance and ensure compliance with budgets and investor requirements.
• Review audits for correct surplus distributions.
• Ensure properties meet financial performance standards during transition to operations.
• Track LIHTC capital accounts and exit tax projections.

Relationship Management

• Establish and maintain relationships with lenders and investors.
• Negotiate and amend agreements as needed.
• Coordinate approval processes and investor/lender communications.
• Organize meetings with stakeholders and prepare reports for boards and partners.

Physical Planning

• Review long-term capital plans, manage reserves, and oversee major projects.

Qualifications

• Minimum seven years in asset/property management or affordable housing, including LIHTC experience.
• Bachelor's or Master’s degree in a relevant field.
• Ability to interpret legal documents and financial spreadsheets.
• Strong skills in operations, financial analysis, and reporting.
• Excellent analytical and organizational skills.
• Experience in cross-divisional collaboration and proactive management.
• Understanding of social mission and financial viability in affordable housing.
• Creative problem-solving approach.
• Excellent communication skills.
• Comfort with both portfolio management and development language.
• Management experience preferred; AMS and/or CHAM designation preferred.

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