Director of Asset Management

Job Summary

The Director of Asset Management is responsible for the design, direction, and administrative work for the Asset Management team. Key areas of responsibility include compliance, reporting and analysis, managing risk, tax, lending. Legal, and cash management functions of the company’s growing portfolio of properties. The Director of Asset Management is also responsible for recruiting hiring, training, developing, and supervising the Asset Management team.

The Director of Asset Management is the primary liaison between management, lenders, and outside investors.

Skills
Position requires strong verbal and written communication skills and the ability to communicate detailed and complex financial / ownership structures clearly. The Director of Asset Management should possess strong personal initiative and motivation, well-developed leadership skills and the ability to lead a team. The Director of Asset Management should also possess impeccable analytical and critical thinking skills and be able to successfully manage and complete multiple projects in an accurate and timely manner.

Duties & Responsibilities

Personal

• Provide leadership and maintain an effective position of authority.
• Assure that the environment of the department reflects the philosophy of the company.
• Model mission and values of UDC.
• Always promote company culture.
• Project a professional image in all aspects of work performance, which includes, but is not limited to personal habits, demeanor, and attire.
• Meet company standards on conduct, attendance, etc.
• Demonstrate good communication skills and help ensure positive communication with staff, coworkers, consultants, lenders, community, agencies, owners, and investors.

Management

• Oversee the operations of the Asset Management team including organizational structure, control systems, transaction processing and policies and procedures.
• Provide leadership and support to the Asset Management team including performance feedback, ongoing training and career growth and development.
• Oversee annual Asset Management budget.
• Ability to manage external consultants towards quality and timely submittals.
• Lead refinancing efforts on existing owned properties and secure asset level financing for new acquisitions.
• Oversee preparation of investment materials and presentations.
• Oversee due diligence, legal (with help from outside counsel) and closing process for acquisitions, refinancing, etc.

Financial

• Collaborate with Property Management and Accounting to ensure monthly, quarterly, and annual reporting requirements are met for lenders and investors.
• Oversee the preparation of pro-forma financial statements and modeling for the portfolio properties, in each of the phases of development, construction and refinancing, providing updates to lenders and investors as necessary.
• Track property performance against original underwriting projections.
• Ensure compliance with management, operating and partnership agreements, and all other agreements as executed.
• Oversee the preparation of annual tax returns for properties, owners, etc.
• Review short term cash flow, LOC, and maximize waterfall opportunities.
• Establish / implement refinancing strategies and oversee due diligence for refinancing of properties with HUD, Fannie Mae, Freddie Mac, life insurance companies and local lenders.
• Provide financial analysis as needed.

Other

• Perform other duties as necessary.

Education and/or Experience

• Bachelor’s degree in Real Estate Management, Finance, Business or Accounting.
• CPA Certification or MBA preferred.
• 10 years progressive direct responsibility for asset management of multi-family portfolios, investment / loan funds or comparable experience.
• 5 years supervisory and/or management experience.
• Experience managing relationships with banks, investors, and government partners.
• Demonstrated integrity and reliability with fiduciary duties.
• Highly proficient with relevant software including Investment Management Software, Argus (Real Estate Software) and MS Office.

Job Type: Full-time

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Employee assistance program
• Employee discount
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Professional development assistance
• Vision insurance

Physical Setting:

• Office

Schedule:

• 8 hour shift
• Monday to Friday

Ability to commute/relocate:

• Johnson City, TN 37601: Reliably commute or planning to relocate before starting work (Required)

Education:

• Bachelor's (Required)

Experience:

• Asset management: 10 years (Required)

License/Certification:

• CPA (Preferred)

Work Location: One location