Director Asset Management
Posted on Nov 5, 2020 by The Millennia Companies
The Director of Asset Management directs the financial, business, and management strategies consistent with the companys investment objectives. The role ensures the maximum use of funds and returns on the organizations investments. The role is expected to execute daily duties independently and with limited supervision. The position report to the President, Millennia Housing Management.
To accomplish this job successfully, an individual must be able to perform, with or without reasonable accommodation, each essential function satisfactorily. Reasonable accommodations may be made to help enable qualified individuals with disabilities to perform the essential functions.
Manage the organizations assets, ensuring each property operates to optimal efficiency, achieves target outcomes and fulfills company mission.
Evaluate the performance of properties; successfully intervene and assist with resolution of problems as appropriate.
Monitor the performance and program compliance of assets through reviews of financial, operational, and tax reporting.
Procure, prepare and assess monthly financial and operating statements as pertains to properties and ensure effectiveness.
Develop and implement strategies for utilizing property-specific reserves.
Develop financial models, perform financial analyses and asset management analyses, and recommend appropriate strategies and capital requirements for major freehold and leasehold assets.
Develop and maintain strong relationships with general partners, lender representatives, public agency partners, management agents, accounting firms, and other stakeholders.
Manage the delivery of benefits to investors across the portfolio.
Manage the disbursement of capital contributions to project partnerships.
Assist with preparation of investor reporting.
Directly supervise Asset Management staff.
Monitor the progress of properties through construction and lease-up and through stabilization.
Perform credit analysis of borrowers, guarantors, and general partners/managing members for committee presentation.
Coordinate with development staff during project development through stabilization and first-year credit delivery.
Assist development officers in the pre-closing due diligence and in the review and approval of various project documents.
Manage reposition situations.
Assist in the review of LIHTC tenant certification documentation for new projects.
Responsible for providing exemplary customer service and interactions.
Must understand the confidential nature of data and adhere to all Company policies related to confidentiality and security of personal and financial information when processing all transactions and addressing inquiries.
Support other functions as needed.
All other duties as assigned or required.
Experience & Education
BS/BA degree in business, finance, real estate, or a related field is required
Four to five years' experience in asset management of an affordable multifamily and community development portfolio
Experience in property operations analysis and tax benefit analysis required
Proven financial analysis skills and fundamental knowledge of institutional real estate investment.
In-depth understanding of multifamily asset management
Excellent computer skills, including spreadsheet analysis
Excellent interpersonal skills and the ability to communicate effectively in person and in writing with colleagues and external partners regarding all aspects of investment structures and real estate, representing a wide range of disciplines and backgrounds
Advanced knowledge with regulations of HUD, the Low-Income Housing Tax Credit/Section 42, New Markets Tax Credit, and affordable housing programs
Experience in property management operations preferred.
Training certification in LIHTC compliance is preferred.
Grooming & Uniform
Must maintain a neat, clean and well-groomed appearance.
N (Not Applicable) Activity is not applicable to this position.
O (Occasionally) Position requires this activity up to 33% of the time (0 - 2.5+ hrs/day)
F (Frequently) Position requires this activity from 33% - 66% of the time (2.5 - 5.5+ hrs/day)
C (Constantly) Position requires this activity more than 66% of the time (5.5+ hrs/day)