What are the responsibilities and job description for the Director of Asset Management position at National CORE?

The Director of Asset Management reports to the Vice President of Asset Management and is responsible for supervising a team providing oversight of portfolio performance and maximizing value of a large number of housing units in California, Texas and Florida. The essential functions of the Director of Asset Management are listed below.

RESPONSIBILITIES

Oversee daily operations of the Asset Management department by providing appropriate oversight of staff activities, directives and overall departmental systems and
Proactively communicate to VP of Asset Management any issues that materially impact portfolio, asset-level risk, market trends, or relationships with stakeholders.
Assist VP of Asset Management in developing and implementing strategic business plans and term sheets for each asset as well as the department.
Monitor performance of all assets quarterly and re-visit strategy as needed to meet the objectives established in the business Ensure properties are meeting affordability and reserve funding as required under all agreements and / or regulations. Analyze long-term property performance against projections.
Identify properties that are candidates for refinancing, re-syndication and other restructuring. Work with VP of Asset Management, Development and consultants for exit strategies, assist in appraisals, valuations and disposition process.
Assist with the feasibility review and due diligence of prospective new Review and provide input on project proformas as well as reforecast of post-rehab budgets.
Assist team members as needed with onboarding new deals, including the breakeven
Provide analytical support on a wide variety of assignments including cash flow modeling, reforecasting, review of property operations and market research.
Provide quarterly portfolio reporting and strategic recommendations to address issues related to the financial performance of the property, capital planning or operational issues for his / her own portfolio. Assist in establishing quarterly executive reporting and flash reports.
Develop and foster productive working relationships with brokers and industry Act as direct contact with lenders, investors, municipalities and regulatory agencies for operational inquires, reporting and reserve withdrawals.
Conduct periodic site inspections, document property condition and develop corrective action as
Work with Risk Management regarding insurance requirements, review quarterly insurance updates, identify and mitigate areas of risk.
Monitor quarterly and specialty reporting distribution ensuring all requirements are met with the external stakeholders including the filing of the annual property tax exemptions, annual CTAC reporting, bond arbitrage, etc.
Participate in the annual budget process for the department and provide quarterly variance
Review and approve annual property budgets and capital needs assessments for his / her own portfolio and assist VP of Asset Management in review of remaining portfolio.
Contribute to preparation of the audited financial statements, i.e., related party fees, contingent liabilities, reserves and surplus cash analysis and Oversee the audit review process.
Interact with internal staff (Property Management, Finance, Accounting, Development, Risk Management and Compliance) and external parties (investors, lenders, regulators, auditors) to achieve property goals.
Maintain a record of "best practices", asset management due dates, bi-weekly meeting agendas and various other reporting as required by the VP of Asset Management.
Work independently and continues to increase industry
Participate on projects to improve department and interdepartmental
Conduct annual performance reviews of direct
Performs other related duties and assignments as
Attend Company sponsored events that relate to the development of the team, which, from time to time, may include overnight stays at locations away from the employee's home.

SKILLS & QUALIFICATIONS

Possess well-developed analytical and negotiation

Must be computer literate, with strong spreadsheet and word processing knowledge : MS Word, Excel, Outlook, internet required. MS Project is helpful.

Ability to work flexible Ability to travel is required.

Valid driver's license, current insurance and vehicle

EXPERIENCE & EDUCATION

Four-year degree, preferably in related field, or comparable industry

Minimum of 5 years in asset management or related areas of real estate or affordable housing which; may include development, investment, property management, acquisitions / dispositions.

Must have knowledge of regulatory programs, the housing industry, marketing, physical asset management, and working knowledge of multi-family and senior communities.

Must be familiar with HUD, Bond, Tax Credit, and Conventional financed occupancy related

Incumbent must have demonstrated track record of exceptional problem solving within a sophisticated operating environment and able to implement rapid turn-around plans.

PHYSICAL REQUIREMENTS / WORK ENVIRONMENT

Exposure to various types of weather

Standing, walking, sitting

Driving

Operate computer and office equipment

FLSA CODE

Exempt

140,000 - $150,000 / yr

Salary : $140,000 - $150,000

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Director of Asset Management

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