Vice President of Asset Management to lead the strategic stewardship of a large, nationwide portfolio of affordable housing assets. This executive will drive investment strategies that maximize long-term financial performance, develop innovative financing solutions, and establish a consistent, organization-wide approach to asset management by leading the transition from a decentralized to a centralized model. The Vice President will also mentor and oversee a team of asset management analysts and managers.
This position is eligible for a hybrid work schedule.
BENEFITS- Several Healthcare plans to choose from, dental (includes adult and child orthodontia) and vision
- 15 days of earned PTO your first year, 12 company holidays + 2 floating holidays.
- 403b + match
- Early close Fridays (3 paid hours each Friday)
- Early close prior to a holiday (3 paid hours)
- Paid Time off between Christmas and New Year's Holiday
- Paid Volunteer Time
- Paid Parental Leave and Care Giver Leave
- Paid Life Insurance
- Free Employee Assistance Plan
- Free Basic Dental
- Pet Insurance options
RESPONSIBILITIES- Complete analysis, strategies, measures, risk rating, watch list reporting, and action plans on all properties with additional focus on those that are underperforming.
- Implement and plan the annual asset business planning cycle and ongoing monitoring for each asset in the portfolio.
- Establish and oversee capital improvement plans, site inspections, and photographs.
- Oversee property tax filings and appeals. Review, approve, and monitor property budgets and quarterly forecasting of Asset Management Fees, Partnership Management Fees, Development Fees, and Property Fees. Review Audits and Cash Flow Calculations to be completed on each asset annually.
- Manage, mentor, and increase the performance of asset management staff located in the GBC office, who report into this position. Train, instruct, guide, and mentor the asset managers in the field.
- Create, monitor, and execute Asset Business Plans at the property level through collaboration with the Asset Management, Property Management, and GBC teams.
- Complete the Portfolio Scorecard and collaborate with MHMG during monthly Ops Reviews to drive and improve property performance.
- Oversee reporting and compliance to investors and regulatory agencies. Ensure that all reports are submitted on a timely manner for each property/portfolio.
- Collaborate and communicate with all parts of the organization; MHMG, GBCs, and support staff.
- Complete due diligence on new properties and create process to evaluate deals after stabilization and compare to original underwriting to debrief and improve processes.
- Workout, financial restructure, and disposition for an assigned portfolio of assets owned by Mercy Housing.
COMPETENCIES- Articulate and integrate the mission and the core values of Respect, Justice and Mercy into day-to-day work.
- Hold self and team accountable to fostering and reflecting the core values when working with others and when making business decisions.
- Provide discipline and best practices in portfolio and asset management in line with institutional real estate investment managers, REITS and private equity firms.
- Demonstrated ability to build and manage strategic financial relationships with banking and other financial institutions.
- Flexibility to work in a complex and multi-faceted, matrix organization, and adapt to changes in structure and work priorities. SUPERVISORY RESPONSIBILITIES • Be diligent in recruiting, hiring, and developing
MINIMUM QUALIFICATIONS- Bachelor's Degree in Finance, Business Administration, or related field. • Seven (7) years of experience in real estate or asset management.
PREFERRED QUALIFICATIONS- Master's Degree in Finance, Business Administration, or related field. • Experience in federal housing programs, subsides, tax exempt bond financing and LIHTC.
KNOWLEDGE AND SKILLS- Motivate people to superior performance and be a valuable resource to company leaders. Demonstrated ability to lead, coach and build a highly motivated and competent staff located in a variety of locations.
- Strong understanding of current technologies for both internal and outsourced approaches to asset management, property management, accounting to direct industry best practices.
- Skilled communicator of financial metrics, benchmarks and process to effect change is partially decentralized operating environment.
