drjobs Director of Asset Management

Director of Asset Management

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1 Vacancy
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Job Location drjobs

San Francisco, CA - USA

Yearly Salary drjobs

$ 135000 - 175000

Vacancy

1 Vacancy

Job Description

Summary

The Director of Asset Management (DAM) is responsible for maintaining BRIDGEs high quality assets and for implementing BRIDGEs strategies within the Asset Management department. This person reports to the Senior Vice President of Asset Management and Compliance and will supervise a team of three to four staff and strategically manage the portfolio of properties in California and the Pacific Northwest. This is a hybrid role working at our San Francisco Headquarters.

The objective of this role is to optimize the performance of the portfolio by thinking strategically and longterm while accomplishing short term projects. Responsibilities include analyzing projects and portfolio performances with particular concern for the financial operational and physical health of the properties.

The DAM works closely with several crossfunctional teams focused on the financial health of the portfolio including Property Management and individual property site staff Accounting Legal Insurance and Development. The DAM has extensive external contact with BRIDGEs consultants (legal financial etc. regulatory agencies lenders and investors.

This professional will report on the performance of the portfolio to senior management on a monthly quarterly and annual basis.

Responsibilities

  • Oversees the organizations portfolio ensuring that the properties financial performance meets or exceeds expectations and that they are physically maintained at or above company standards
  • Oversees a portfolio of prestabilization properties to ensure that the properties financial performance meets or exceeds expectations and that they are physically maintained at or above company standards
  • Participates in the leaseup of newly constructed projects
  • Manages a team of asset management professionals
  • Recommends and executes financial restructuring as appropriate including refinancing old debt as well as investor exit (buyouts)
  • Administers LIHTC (low income housing tax credits) capital accounts through annual analysis and exit tax projections
  • Collaborates with the development team to identify opportunities for rehab and resyndication
  • Coordinates with Portfolio Rehabilitation Manager and Sustainability Manager to manage small and medium size rehab projects
  • Special portfolio projects as assigned
  • Creates and refines the reporting procedures database and other informational systems
  • Able to think strategically about the portfolio and management of multiple projects at once
  • Knowledge of real estate development affordable housing finance and asset management functions to work effectively and credibly with other departments

Financial Analysis

  • Evaluates property plans to ensure surplus cash will meet longterm corporate cash flow targets.
  • Manages the annual budget process with assigned portfolio; proposes creative solutions to cashflow issues.
  • Monitors portfolio to ensure that financial performance is inline with the budget and that variance explanations meet BRIDGE and investor/lender requirements.
  • Monitors and reviews audits to ensure surplus distributions are made correctly and on a timely basis.
  • Monitors that properties moving into operations are meeting financial performance according to the proforma.
  • Tracks & monitors LIHTC (low income housing tax credits) capital accounts through annual analysis and exit tax projections

Relationship Management

  • Establishes and maintains good working relationships with lenders and investors as the primary contact for properties in the assigned portfolio.
  • Negotiates with partners and/or lenders as needed to amend agreements.
  • Facilitates approval processes with lenders and/or investors as needed.
  • Develops and sponsors occasional meetings to review portfolios with investors lenders and internal groups including the coordination of onsite property visits in the portfolio.
  • Prepares annual Board reports for single purpose entities and projects with outside partners.
  • Coordinates all responses to questions from investors/lenders on assigned portfolio.

Physical Planning

  • Reviews longterm capital plans for the properties in assigned portfolio suggesting adjustments to the Portfolio Rehabilitation Manager if necessary managing reserve balances to meet longterm cash needs identifying those properties requiring outside funding and ensuring that major projects are progressing on plan.

Qualifications

  • Minimum of seven years of experience in asset management property management or affordable housing development including with LIHTC
  • Bachelors or Masters degree in a relevant field of study
  • Ability to read and interpret legal documents and financial spreadsheets
  • Skilled in operations financial analysis and reporting
  • Excellent analytical administrative and organizational skills
  • Experience in working collaboratively across divisions and being proactive
  • Keen understanding of the owner role and function to carry out dual bottom line of social mission and financial viability
  • An entrepreneurial and creative approach to problem solving in the field of affordable housing and asset management
  • Excellent oral and written communication skills
  • Must be comfortable with the duality of department languages (portfolio and asset management as well as development)
  • Previous management or supervisorial experience preferred
  • AMS and/or CHAM Designation preferred


BRIDGE Housing is an Equal Opportunity Employer committed to fostering an inclusive environment for our diverse workforce.We do not discriminate on the basis of race religion color

national origin gender identity sexual orientation age marital status veteran status or disability.Pursuant tothe California Fair Chance Act we will consider qualified applicants with arrest

records


Required Experience:

Director

Employment Type

Full-Time

Company Industry

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