The SVP, Business Operations provides critical management oversight for the division by supervising the portfolio-wide creation of annual property revenue and expenses budgets, monthly management financial report, cash flow reports and in-depth financial analysis on all property portfolios. The role will work in close coordination with EDC’s Finance Division.
The SVP, Business Operations tracks and reports market benchmarks and the Asset Management division’s policy goals. This role collaborates with the AM SVP department heads as well as individual asset and project managers, to develop and implement strategies around financial activities across the portfolio, including deal negotiations, asset repositioning and large-scale redevelopment projects. Where required, the SVP Business Operations will also serve as a proxy for the EVP in senior-level meetings.
Essential Duties and Responsibilities:
- Working in close coordination with the Finance and Asset Management teams, manage the creation of annual property revenue and expenses budgets, monthly management financial reports, cash flow reports and in-depth financial analysis on all property portfolios as well as specialized financial reports for the EVP for review across the entire 64M square foot portfolio.
- Lead the AM team through all budgeting functions including the internal annual operating budget and reforecast process.
- Manage all requests for new city capital findings annual Asset Planning (including benchmarking against market metrics).
- Oversee a monthly AM/Finance discussion to review key topics including budgeting, forecasting, collections, variances, upcoming signings and transactions, and capital projects.
- In conjunction with pillar peers and the EVP, Asset Management manage the process of populating the Asset Management directory or “Atlas” with market information, asset plans and core data for agreements.
- Own, update and manage the Division’s management financials policies in partnership with senior Asset Management staff and the Finance department.
- Oversee the PPS team that supports activities on our assets.
- Oversee PS team that manages lease expirations, arrears, billing, litigation and acquisitions.
- Improve and maintain Customer Service Helpdesk team for properties and tenants.
- Create and deliver division-wide trainings on financial tracking and reporting procedures, modeling, and double-bottom line benchmarks.
- Provide mentorship to Portfolio Managers and AM staff in building financial skills.
- Develop and/or participate in special projects with City Hall and other City, State, and Federal entities.
- Serve as a proxy for the EVP in critical meetings and negotiations with President’s office staff, other division heads, other agencies, elected officials, tenants, developers and community, as required.
- Other duties as assigned.
Leadership and Collaboration
- Ensures team performance supports and enhances organizational objectives.
- Anticipates critical path items to ensure timely progress and coordinates with other pillar heads and Finance team on financial project issues and challenges.
- Motivates team members and monitors performance, providing coaching and feedback on an ongoing basis.
- Creates a culture within the group that requires/supports professional development and career growth.
- Fosters an open environment within the group that is conducive to high employee engagement and satisfaction.
- Develops the team by providing ongoing guidance and coaching.
- Creates a culture of transparency and communication with team, stakeholders, and throughout the organization.
- Directly supervise three team heads and indirectly, their teams.
- A Bachelor’s Degree and at least 10 years of experience in real estate, finance, asset management, private equity, management consulting, economic development and/or related field.
- Exceptional interpersonal skills, professional demeanor and ability to collaborate with, and present to executive level managers.
- Expert, creative and detail-oriented time-management and project management skill set.
- Expert communicator with highly developed analytical thinking.
- 7+ years of direct supervisory experience.
- Fluency in Microsoft Office.
- New York City residence within 180 days of hire.