VP oF Asset Management (Affordable Housing)
SelectLeaders
Los Angeles, CA
Salary Estimate: $250,000.00 - $274,999.00
Employment Type: Full Time
Work Place: Hybrid
Experience Required: 7+ to 10 years
Education Required: 4 Year College
Job Description
Duties and responsibilities:
- Provide day-to-day leadership and management in accordance with the mission and core values
- Oversees the portfolio of pre-stabilization properties to ensure that the properties’ financial performance meets or exceeds expectations, and that they are physically maintained at or above company standards
- Creates and maintains comprehensive asset management/strategy plans for each property in the portfolio.
- Leads the team in collaboration with others to resolve issues related to cash-flow and long-term capital needs, including working with investors/lenders to free-up existing reserves or secure loans.
- Reviews long-term capital plans for the portfolio, ensures the management of reserve balances to meet long-term cash needs, identifying those properties requiring outside funding, and ensuring that major projects are progressing on plan.
- Prepares annual Board reports for single purpose entities and projects with outside partners.
- Responsible for the measurement and effectiveness of all processes internal and external with regards to Asset, Portfolio and Compliance
- Monitors portfolio to ensure that financial performance is in-line with the budget and that variance explanations meet BRIDGE and investor/lender requirements
- Creates property plans to ensure surplus cash will meet long-term corporate cash flow targets.
- Provides timely, accurate and complete reports on the operating condition of the portfolio.
- Spearhead the development, communication and implementation of effective growth strategies and processes as it relates to Asset Management, Portfolio and Compliance.
- Collaborate with the Senior management team to develop and implement plans for the operational infrastructure of systems, processes, and personnel designed to accommodate the rapid growth objectives of our organization.
- Tracks & monitors LIHTC (low income housing tax credits) capital accounts through annual analysis and exit tax projections
- Motivate and lead a high-performance team; attract, recruit and retain required members of the Asset Management and Compliance team not currently in place; provide mentoring as a cornerstone to the management career development program.
- Foster a success-oriented, accountable environment within the company.
- Establishes and maintains good working relationships with lenders and investors as the primary contact for portfolio.
Requirements:
- Minimum of seven years of experience in a leadership role that includes asset management, property management or affordable housing development including with LIHTC
- Bachelor’s degree in Business Administration or another relevant field
- Demonstrated experience in financial planning and analysis
- Skilled in organizational development, personnel management, budget and resource development, and strategic planning
- Excellent people skills, with an ability to partner with a dynamic leadership team
- Flexible and able to multitask; can work within an ambiguous, fast-moving environment, while also driving toward clarity and solutions; demonstrated resourcefulness in setting priorities and guiding investment in people and systems
- Master's Degree preferred but not required.
- Compensation: $240-275k base plus 25% bonus.
- Schedule: 3 days a week in office, two days work from home.

SelectLeaders
• 1-100 employees
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