Director of Asset Management

Job Description

Summary

This position is responsible for the overall operations and performance of Father Joe’s Villages’ growing affordable and supportive housing portfolio of properties.

Essential Functions

Under general guidance from the Chief Administrative Officer, the Director of Assets Management is responsible for

Strategies related to the operations of a growing affordable housing property portfolio (Current portfolio is 897 units across 8 different properties, expanding to 2,400 units by 2030).

Strategies and policies related to the effective management of all the agency’s properties to optimize benefit to the agency while minimizing risk. This includes review of individual limited partnerships and department P&L’s, and compliance related to LIHTC Funding requirements.

Leading the coordination and acting as the Owner’s representative for property management services of the Owner’s housing developments. This includes ensuring compliance with the master property management agreement and SOWs for each LP.

Strategies related to the Capital Projects Process, coordinating across departments to identify, prioritize, and recommend capital projects and deferred maintenance for execution. Leading certain publicly funded capital projects from project selection through scope development, bidding, and execution.

Develop and implement strategies to ensure effective collaboration with internal and external team members, including third-party partners such as our tenant services and programs department, public funding agencies, development partners, and other agencies as necessary.

Reviews, analyzes, and recommends budgets for individual properties and the overall department.

Reviews individual property and department P&L variances with appropriate stakeholders

Collaborates with external auditors to complete Limited Partnership audits

Negotiate, renew or lease up all Limited Partnership and FJV assets, such as Thrift stores, Toussaint building, etc.

Oversee all accounts, ledgers, and reporting systems, ensuring compliance with appropriate GAAP standards and regulatory requirements.

Maintain internal control and safeguards for monthly due diligence reviews over revenue, costs, LP budgets, and actual expenditures.

Strong understanding of Financial Accounting Standards Board (FASB) guidelines for real estate accounting and affordable housing.

Coordinate and manage all audit activities for limited partnership accounting.

Consistently analyze financial data and present financial reports in an accurate and timely manner; clearly communicate monthly, quarterly, and annual LP financial statements; monitor progress and changes, and keep senior leadership abreast of Father Joe’s Villages LP financial status.

Assist Property Management and Father Joe’s Villages leadership in the annual budgeting and planning process for LPs; administer and review all LP financial plans and compare actual results with a view to identifying, explaining, and correcting variances as appropriate.

Work cross-functionally within the Organization (Asset Management, Grant Accounting, and outside the Organization (External Property Management, Funding Partners and State and Local Agencies)

Participate and collaborate with ARETE’s team to ensure access to properties, design, and approve new Supportive Housing Projects.

The Director of Assets Management will have three direct reports for the Asset Management Manager, the Project Manager, and the Program Manager of Asset Management in addition to overseeing the Affordable Housing operations

Recruits, recommends candidates for hire, manages, and retains Asset, Project, and Operations Management roles

On-time completion of assigned training and policies for Asset Management and LP’s Financials.

Performs other duties as assigned.

Qualifications

Bachelor’s degree in real estate, Business, Operations, Engineering, Accounting, or related field, CPA, and/or MBA preferred or equivalent experience.

California Real Estate Broker’s license and or California Real Estate license is preferred.

Minimum of 10 years of work experience in a similar role (Operations Management, Property Management) will substitute for a bachelor’s degree

Ability to work in a fast-paced environment and adapt to changing priorities.

In-depth knowledge of Public Funding Sources, TCAC compliance, Project and Property management best practices, and analysis of typical affordable housing financial and compliance reports.

General knowledge of typical affordable housing funding requirements and demonstrated ability to review funding documents and regulatory agreements to verify operational compliance with all requirements, including unit mixes and reporting.

Intermediate to advanced ability in MS applications, primarily Excel, Word, Power Point, and Teams and Canva

Experience with NetSuite financial software & RealPage property management Software preferred

Keen analytic, organization, and problem-solving skills, which allow for strategic data interpretation versus simple reporting

Strong interpersonal and communication skills; experience in effectively communicating key data, including presentations to senior management, board, or another outside partners

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The Pay Rate for this role is based on several factors including the candidate's experience, qualifications, and internal equity. The initial offer usually falls between the minimum and midpoint of the applicable salary range. Pay Band E9: $105,000 - $152,300 (Midpoint $131,000)

Full-time