Job Description SummaryThe Director, Workouts is an asset management leadership role responsible for stabilizing, restructuring, and repositioning underperforming assets within Enterprise Community Development's affordable housing portfolio.
This role is specifically focused on properties experiencing structural cash flow deficits, sustained net operating income shortfalls, capital constraints, or other forms of distress requiring active intervention beyond routine asset management. The Director, which is a new position at ECD, will manage a dedicated team and serves as the owner's representative for a portfolio of non-stabilized LIHTC senior and family communities. The position requires advanced financial expertise, strong people leadership and communication skills, and disciplined problem solving to drive long-term stabilization and risk mitigation.
The position reports to the Senior Vice President, Asset Management. The Director, Workouts is a hybrid position based out of the Baltimore, MD and Bethesda, MD HQ Offices.
Job Description- Lead the identification, triage, and resolution of assets experiencing chronic cash flow deficits or operational distress.
- Develop, implement, and oversee property-specific action plans that result in property stabilization.
- Prepare and present recommendations to Senior Management.
- Find, investigate, and apply for project level grant or soft debt funding to help properties stabilize.
- Assist Transactions Team with dispositions and/or refinancings.
- Identify additional sources of ancillary income that can help a community stabilize.
- Manage, coach, and develop a team of workout-focused asset management professionals.
- Review and approve operating budgets, reforecasts, capital expenditure plans, and non-routine expenditures.
- Analyze financial statements, debt structures, reserve usage, and partnership arrangements.
- Partner with property management, development, compliance, and resident services teams to resolve complex asset challenges.
- Oversee site visits, physical needs assessments, inspection responses, and action plans.
- Oversee monthly, quarterly, and annual reporting for the workout portfolio.
- Prepare clear internal reporting and support lender, investor, and partner communications.
Qualifications- 7+ years of LIHTC/multifamily experience.
- 3+ years of workout experience.
- 5+ years of direct people management experience.
- Bachelor's degree required; Finance, Accounting, Business, or Real Estate preferred.
- Master's degree (MBA or MS Real Estate) or CPA strongly preferred.
- Demonstrated people leadership, sound judgment, and ability to operate effectively in high-pressure environments.
- Excellent verbal communication and business writing skills.
- Strong financial and analytical skills, including advanced proficiency in Microsoft Excel.
- Proficiency with Yardi.
- Ability to produce, review, and interpret real estate financial models and financial statements.
- Proven problem-solving, critical-thinking, and project management skills.
- Strong organizational skills with ability to coordinate complex activities, prioritize competing demands, and meet deadlines.
- Ability to interact professionally with a diverse group of associates, residents, and external partners.
- Demonstrated positive attitude, intellectual curiosity, and commitment to continuous improvement.
- Demonstrated commitment to ethics, professionalism, and collaboration; ability to build respectful, effective working relationships with internal and external stakeholders.
Salary Transparency- You will be joining a team of talented professionals motivated by serving the community and addressing the need for affordable housing.
- Enterprise offers a comprehensive total rewards package for you and your family. The pay range for this position is $155,000/year - $175,000/year. The salary range represents the low and high end of what may be paid for this position. It is not typical for an individual to be hired at or near the top of the pay range, and compensation decisions may be influenced by a variety of factors, including skills, qualifications, experience, and location.
Total Rewards at Enterprise- This range is just one component of our total rewards package, which also includes annual performance bonuses and generous paid leave programs.
- Our benefits form a major part of the total rewards package. These include dental, health, and vision care plans, as well as family-building benefits such as adoption and surrogacy support. Enterprise supports flexible work arrangements to promote work-life balance and offers health advocacy, an Employee Assistance Program (EAP), and mental health benefits. We round out our package with financial education, wellness programs, and auto-enrollment in the company's 401(k) plan with employer matching contributions.
- Finally, you will have access to learning and development opportunities, including tuition reimbursement for job-related courses and certifications. Thank you for your interest in joining the Enterprise team and contributing to our mission to serve others.
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