Director of Asset Management

Job Title

Director of Asset Management

Revision Date

October 21. 2026

Department

Asset Management

Reports To

Executive Director

Supervises

Department staff as assigned

Pay Grade

310

Salary Range

$158,215 - $197,1805

Work Schedule

☒Full-Time• Part-Time

Status

☒Regular Position• Temporary Position

Wage and Hour Status

• Non-Exempt☒Exempt

Union Status

• Union☒Non-Union

PURPOSE OF POSITION

The Director of Asset Management supports THA's strategic and operational objectives to maintain THA's existing housing, enhance THA's financial resilience and sustainability, and ensure resident stability in housing. The Director will do this by managing, supervising, planning, and coordinating the Asset Management Department to oversee THA's asset management, compliance, civil rights, capital improvements, asset repositioning, commercial property management, and risk management functions. THA has set high-level goals for this position:

• Build and strengthen THA's asset management function so it is ensuring compliance with all regulatory and funder requirements while maintaining a high quality of life for our residents and maximizing property cash flow;
• Fully lease THA's commercial spaces and maximize cash flow to pay for additional housing;
• Complete a capital needs assessment of THA's portfolio and develop a 5-10 year financing plan for addressing all capital needs. This should include a plan to rehabilitate and or refinance at least 500 units of existing housing to improve quality of life for tenants and long-term viability of the property.
• Maintain compliance with Fair Housing and Section 504 requirements.
• Implement a Compliance strategy to ensure compliance with all funder and HUD requirements across all housing programs operated by THA.
• Develop a plan for monitoring and tracking risks and implementing strategies to avoid known risks.
• Lead the evaluation, continuous improvement, and implementation of THA's emergency response and recovery plan, ensuring agency readiness, resilience, and coordinated response and recovery efforts.
• The Director of Asset Management and will work collaboratively with other departments in the agency to set strategies to help achieve these goals. This Director will also work collaboratively to set and monitor staff goals

ESSENTIAL DUTIES AND RESPONSIBILITIES

EXECUTIVE TEAM

Executive Team members share leadership responsibility to establish agency-wide objectives and directives and guide their implementation through programs and practices which reflect the agency's Vision, strategic plan, and internal culture objectives. Each team member is responsible for maintaining a "one agency" perspective as they:

• Establish organization-wide goals and cross department projects and objectives.
• Actively participate in the development and oversight of long range, strategic and budget planning processes.
• Anticipate and support a positive public image, budget management, liability or other issues which may impact the financial, organizational, political and/or creative stability of the agency.
• Seek out and analyze information, opportunities, and challenges to assure maximum community investment.
• Model the agency's customer service orientation with all public, elected or funding agency representatives and agency staff.
• Model and coach others to conduct business through cross department participation/teams and review, to utilize two-way communication, and to foster accountability.
• Prepare, administer, and monitor the department budget within approved appropriation levels.
• Comply with authority granted to THA, funding regulations and pertinent laws.
• Demonstrate commitment to constant improvement, monitoring workflow to assure maximum productivity, and making sound decisions on resource allocations.
• Identify, implement, and evaluate best practices to maximize project and service delivery.
• On an ongoing basis, review department and agency procedures and approaches.

DEPARTMENT SUPPORT

• Develop tools and reports to routinely track and evaluate the quality, timeliness, effectiveness, and cost of services provided by the Department. Work with the management team in overseeing implementation of new programs and changes to existing programs.
• Working with the staff, develop policies and procedures that document Department practices and performance expectations.
• Serve as liaison to other departments to facilitate operational coordination and fulfill organizational needs and requirements.
• As directed, participate in or perform special studies or investigations which require the analysis of requests and statistics in highly sensitive areas and make recommendations regarding appropriate action.
• Generate monthly performance reports for submission to the Department's Board of Commissioners report; prepare and submit resolutions for adoption and other informational presentations.
• Arrange for the preparation, scheduling, and presentation of internal training programs for staff within the Department.
• Represent the Department and Agency in Board of Commissioner meetings, community meetings, workgroups, and other settings.
• Work cooperatively to maintain agency or department memberships in organizations that directly relate to department objectives.

ASSET MANAGEMENT

• Coordinate the agency's asset management function including the following regarding each property owned or managed by the Agency:
• Determine whether a property is meeting its financial goals and obligations and other indicators of good management (e.g., occupancy, rent collection, net operating income, debt coverage).
• Determine whether a property is serving THA's strategic missions.
• Project and plan for the capital needs of each property.
• Project funding or market conditions that affect each property.
• Assess purchase and sale opportunities.
• Collect, analyze, and effectively report accurate data to allow THA to assess the above.
• Oversee third-party residential and commercial management contracts.

CAPITAL IMPROVEMENT AND ASSET REPOSITIONING

• Oversee the major repair and rehabilitation of THA's portfolio in close collaboration with other departments and members of the Leadership Team.
• Understand, procure, and put to sophisticated use a variety of development funding sources including HUD capital financing, low-income housing tax credits, new market tax credits, historic tax credits, bond financing, private debt, CDBG, HOME funds, state and local funding sources and the use of project-based section 8 rental income.
• Cultivate relationships and solicit development proposals in partnership with private and non-profit developers or jurisdictional partners.
• Creatively explore and propose new funding scenarios that blend public resources with private market financing strategies.
• Negotiate terms and ensure the development and execution of all necessary project documents, including financing documents, purchase and sale agreements, development services agreements and design and construction contracts. Ensure compliance with agency and funder procurement guidelines for all contracts entered into during development process. Review and authorize budgets for individual projects. Assign oversight of disbursement of project funds during construction. • Oversee development and maintenance of schedules for project completion, including pre-development activities, acquisition, financing, design, and construction, and lease-up; ensure all designs, construction, and renovations that incorporate universal design principles.
• COMPLIANCE • Ensure the Agency's effective and efficient compliance with all relevant policies, procedures, laws, and regulations required by federal, state, local, and internal authorities.
• Ensure monitoring of properties to verify compliance with applicable laws and regulations (including but not limited to HUD, RHS, RCW, and WSHFC).
• Oversee staff conducting audits of various properties and unit resident files to ensure compliance with financial and mandated regulatory requirements.
• Generate monthly compliance reports.
• Oversee review of all Regulator and Operating (R&O) Agreements, Management Plans, Management Agreements, Loan Documents, etc. for properties as applicable.
• Oversee THA's agency-wide compliance with applicable civil rights requirements, including Section 504, the ADA, Fair Housing requirements, and reasonable accommodation policies and procedures; ensure appropriate monitoring, training, implementation, reporting, and corrective action across THA programs and operations.

RISK MANAGEMENT

• Ensure that THA and its affiliates have adequate and cost-effective insurance coverage and managing those insurance policies and THA's compliance with them. This includes insurance procurement, preparation of RFPs for primary and excess coverages; negotiating pricing, coverage terms, loss control and other services; recommendation to Executive Director regarding insurance procurements.
• Ensure THA has adequate provisions in its contracts for indemnification and risk transfer.
• Oversee the response to all non-employment or benefit related claims against THA and its affiliates.
• Develop and implement systems, policies, and procedures for the collection and analysis of risk related information.
• Evaluate, improve, and implement a revised Emergency Response and Recovery Plan and serve as the lead for all emergency response.

COMMUNITY ENGAGEMENT

• Establish and maintain positive community relations in current and proposed development neighborhoods; conduct meetings to elicit community involvement and support and determine housing needs.
• Expand cross-sector partnerships and collaboration to sectors and organizations that serve PHA residents to address inequitable community conditions and access to services through leverage, influence, service provision, and investment.
• Represent THA positively with the community, elected officials, governmental bodies, financial institutions, business interests, professional organizations, other nonprofit and public housing and service agencies, and citizens.

SUPERVISION AND LEADERSHIP

• Supervise and guide staff using management practices that develop and retain highly competent and highly performing employees.
• Direct, coordinate and review the work plans for assigned staff; assign work activities and projects; monitor workflow; review and evaluate work performance; methods and procedures and meet with staff to identify and resolve problems.
• Build and maintain effective relations with a workforce that includes both union and non-union staff.
• EMPLOYEE ACCOUNTABILITY
• Perform all responsibilities in service to THA's mission to assist low-income households and other customers, and to do so in ways that aspire to programmatic and administrative excellence.
• Fulfill all duties and responsibilities with a high level of integrity, honesty, and adherence to agency policies and rules.
• Establish and maintain effective professional working relationships with co-workers, management, partner agencies, and the community.
• Present a professional image as a representative of THA.
• Maintain a high degree of confidentiality relative to work performed.

SECONDARY POSITION TASKS

• Review journals, periodicals, newspapers and magazines and alert department staff to pertinent information.
• Serve as a member of committees, as directed.
• Remain current with trends, industry knowledge, and continuing education related to the position.
• Perform related duties or responsibilities as assigned.

POSITION REQUIREMENTS AND QUALIFICATIONS

EDUCATIONAL LEVEL AND EXPERIENCE

• Bachelor's degree, liberal arts or major course work in architecture, engineering, finance, urban planning, construction, or a related field or equivalent experience; Graduate Degree preferred.
• Eight to ten years of experience with Asset Management, housing and commercial real estate financing, housing compliance, and/or Risk Management
• Tax credit, HOME, CDBG, and Washington State Housing Trust Fund funding experience preferred.
• Moving-to-Work and/or Faircloth-to-RAD (renamed Restore/Rebuild) experience preferred.
• Minimum five years' experience in a supervisory capacity.

KNOWLEDGE, SKILLS, AND ABILITIES

• Possess or acquire and maintain a high level of expertise in the current and evolving principles and practices in the
• following areas and possess the following attributes:
• Fluency in the Fair Housing Act and Washington State fair housing laws
• Concepts, theories, principles, practices, policies and procedures of public housing and mixed-finance program planning, development and implementation.
• Principles and practices of real estate financing and resources including tax credits, bonds and public and/or private sector funding sources; design, management and direction of complex property transactions.
• Understanding of the use of a Public Development Agency and a Community Development Entity.
• Public policy as it relates to housing and commercial development and financing.
• Knowledge of and experience working with building standards, codes and construction methods and materials and environmentally sustainable materials and practices; principles and practices of universal design in building designs, construction, and renovations; principles and practices of contract negotiation and administration; principles and practices of real property appraisal and valuation; ne