Director of Asset Management bei Foundation Communities

Position Description: The Director of Asset Management (DAM) leads the Asset Management team, responsible for the overall performance and long-term sustainability of Foundation Communities’ affordable housing portfolio. This position ensures that each rental community achieves both financial and mission objectives, providing residents safe, beautiful, well-maintained and well-managed homes. The DAM supervises Asset Management staff, and serves as the primary point of contact with investors, lenders, regulatory, and other external partners. This role is deeply collaborative with FC’s in-house Property Management, Compliance, Development, Sustainability, Accounting, and Resident Services teams. This position will either collaborate with or directly supervise FC’s Capital Repairs team. 

Primary Duties/Responsibilities:

•    Develop, maintain, and execute on long-term asset preservation plans for each property – including refinancing, capital repairs and upgrades, and collaboration with Development on more extensive rehabilitation or repositioning strategies when needed.

•    Monitor opportunities for strategic refinancing or repositioning in line with property-specific goals; execute on refinancing outside of major rehabs; work with Development to plan for major rehab where necessary.

•    Jointly with the Capital Projects team, ensure each property has a clear long-term plan for major repairs; collaborate on annual capital projects planning.

•    Collaborate with Accounting and Property Management on cash management and reserve utilization strategy, manage reserve draw requests, and support the Capital Projects Team to ensure funds available for scheduled and emergency projects.

•    Work with Accounting on annual cash flow distributions, audits, and tax return reviews.

•    Manage funder relationships and ensure all lender, investor, and public agency reporting is completed timely.

•    Monitor investor tax capital account, oversee Year 15 planning and execution; support Accounting with FC’s NMTC unwind.

•    With property management leaders, review/analyze financial reports to ensure properties FC key performance indicators and investor/lender requirements; collaborate on solutions for struggling properties. 

•    Work with Development, Property Management, and Compliance to plan for new developments, collaborate to ensure compliance with all restrictions is maintained for the required duration.

•    Support Sustainability team to manage to energy and water saving targets, execution of energy efficiency, renewable energy, and climate resiliency projects.

•    With CREDO, manage FC’s insurance policy placement and renewal; oversee staff managing insurance and claims administration; collaborate with other departments on various risk management initiatives. 

•    Oversee annual property tax exemption applications and valuation protests.

•    Other duties as assigned.

Minimum Requirements:

•    Seven or more years of progressive asset management experience in affordable housing

•    Knowledge of LIHTC and other affordable housing program rules

•    Excellent analytical, administrative and organizational skills

•    Collaborative and solutions-oriented leadership style

•    Excellent communication skills and track record managing complex external relationships.

•    Ability to read and interpret legal documents and financial spreadsheets

•    Willingness to work collaboratively with co-workers, other departments and be proactive

•    Ability to navigate the dual bottom line of social mission and financial viability

•    Prior management or supervisory level responsibilities

Preferred Requirements:

•    CHAM, CPM or similar certification 

•    Experience managing multifamily capital repairs strategy 

•    Experience with multifamily rehabs

•    Familiarity with engineering and construction contracts and best practices

Compensation

    Starting at $120,000 annually