Director, Asset Management

Job Description

The Director of Asset Management is responsible for creating a framework that drives operational and financial performance at assets owned by or invested in by the Chicago Housing Authority across specified programs (Public Housing, RAD, or Mixed Income) within the residential property portfolio. The Director of Asset Management must comprehend, routinely reference, and enforce regulatory agreements, partnership agreements, financial performance metrics, occupancy standards, and program compliance. Through a team of Asset Managers, the Director spearheads preservation activity, program conversions and recapitalization activity, and makes recommendations for property disposition and stabilization plans. They are also responsible for oversight of property operation activity for third-party owned Mixed Finance developments.

DUTIES AND RESPONSIBILITIES

• Develop and implements strategies, policies, and procedures for the long-term oversight of CHA's Asset Management Division
• Ensure that annual reviews of each property are completed and prepares program status reports as required
• Develop and implements procedures for reporting, monitoring, and evaluating Owner and Owner representative's performance to ensure the obligations to local, state, federal, and lender / investor are fulfilled.
• Coordinate with Development staff regarding new deals and deal terms.
• Review of partnership and regulatory agreements in predevelopment stages, as well as throughout life of the asset
• Works with Development to coordinate transition of properties eligible to convert to RAD program to implement other preservation strategies and ensures long-term compliance with HUD regulations once conversion is completed.
• Ensure performance metrics are met at the property level, using governing agreements as guides
• Provide strong, data informed recommendations to internal and external stakeholders for process improvement, course correction, and contract enforcement as necessary
• Issue final approval on Asset Management Reviews (AMR) and rent increases, as well as subsidy abatements and / or sanctions
• Maintain strong working knowledge of public and affordable housing programs, (including HCV, PBV, Moderate Rehabilitation, RAD, and LIHTC) and well as current industry standards and trends.
• Perform other duties as assigned.

QUALIFICATIONS

Bachelor's degree in Business, Accounting / Finance, or related Real Estate studies with a minimum of five (5) years of applicable experience or, applicable trainings and certifications along with a minimum of seven (7) years of experience in lieu of a degree. Strong professional written and verbal communication skills. Strong analytical skills, with the ability to conduct research and prepare narrative reports and proposals. The ability to comprehend complex contracts and regulatory agreements. Software proficiency in Microsoft Suite and Property / Asset Management software.

A valid driver's license, unrestricted insurability, and ability to travel within Chicagoland boundaries up to 75% of the time. Current working knowledge of HUD and CHA regulatory requirements related to Public Housing, PVB, MOD Rehab, RAD, and LIHTC programs as evidenced by stated course completion and / or certification requirements (subject to portfolio assignments, and can change with or without notice).

Salary Range : $115,000 - 120,000

Grade : S10

FLSA : Exempt

Union : None

Salary : $115,000 - $120,000