Job Title: Associate Director of Asset Management

Actively supports Eden’s mission of creating and sustaining high-quality affordable housing communities that advance equity and opportunity for all.

Department:       Asset Management

Location:              Central Office

Reports To:         Director of Asset Management (or above)

FLSA Status:       Exempt

Last Updated:     October 3, 2023

POSITION SUMMARY

The Associate Director of Asset Management (ADAM) will be primarily responsible for directing day-to-day activities, tasks, and supervision of portfolio Asset Managers and other support functions, as needed. This position will partner with the Associate Director – Portfolio Analysis and Special Projects (ADPSP) to focus on staff development and support team members in obtaining overall job knowledge and confidence. The ADAM will participate in, and often, lead cross-functional teams for the purpose of sharing department expertise from a broad perspective to generate new ideas, better solutions, and avert property-level risk in both formal and informal settings. This position reports to the Director of Asset Management or above.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Responsible for ensuring regular oversight of Eden’s portfolio of properties, including operational and financial performance and compliance with Eden internal as well as lender and investor goals and requirements.
• Supervise, hire, train, and support Asset Managers – and others as assigned – to ensure their individual success and the success of the department.
• Delegate responsibilities effectively and discuss performance issues with staff regularly.
• Create a positive work environment for staff and build high morale and teamwork.
• Assists with formulating department strategy.
• Partner with head of Asset Management and ADPSP for departmental policy and procedure creation based on needs.
• Prepares and presents to internal Board of Directors or Committees portfolio analysis, or other actions requiring approval and Board consent.
• Assign portfolio oversight tasks to Asset Managers as needed to ensure reasonable workloads. Work closely with the ADPSP to monitor staff workloads and ensure all portfolio deadlines are being met. Communicate concerns and needs with supervisor, as needed, to establish feasible solutions.
• Ensure strong working relationships throughout the team with both internal and external colleagues with a focus on excellent customer service.

• Represent the organization and maintain strong working relationships with various stakeholders throughout the portfolio including agencies and lender’s staff, and limited partner contacts.
• Monitor and report on financial performance of the properties in the portfolio and provide guidance to ensure that financial goals are met, and physical needs addressed.
• Act as primary point of contact and business partner to property operations, in particular, with ADPOs and serve as a thought-partner to address portfolio issues. Partner with ADPSP, as necessary.
• Work with property operations to ensure that annual budgets support property, portfolio, and organizational objectives by maximizing revenue and controlling expenses to maintain operating margins, adequate reserves and to cover debt service.
• Monitor and lead oversight and problem solving for ‘Watchlist’ and challenging properties. Assist and lead Asset Managers in developing and implementing strategies for addressing property needs.
• Work closely with the head of Asset Management on planning and implementing solutions for capital transaction/repositions including limited partner buyouts, debt restructuring, renovation planning, and refinancing.
• Oversee and/or assign portfolio of third-party property management relationships and monitor the performance of the properties they manage. Review and approve budgets, financials, and audits. Communicate concerns and needs with supervisor.
• Partner with ADPSP to oversee the maintenance of the asset management databases. Establish and maintain useful database screen for department and represent asset management in cross-departmental efforts.
• Other duties as assigned.
• Actively participate in our culture of inclusivity.
• Must have access to reliable transportation to travel during the business day to Eden properties, training sites and retail stores.

SUPERVISORY RESPONSIBILITIES

Directly supervises the Asset Managers and Senior Asset Managers, and others as assigned. The position carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.

EDUCATION and/or EXPERIENCE

Demonstrated knowledge and experience in Asset Management. Experience with Low Income Housing Tax Credits (LIHTC), Tax-Exempt Bonds, California Housing Finance Agency (CHFA), Department of Housing and Urban Development (HUD) preferred.

PREFFERED SKILLS and/or ABILITIES

• Proven ability to direct departmental activities; lead by example; formulate and execute company-wide goals and objectives and assess achievement.
• Superior leadership skills with emphasis in staff supervision and development, particularly during a time of organizational transition; strategic thinker.
• Working knowledge of affordable housing programs, including but not limited to HUD programs, Low Income Housing Tax Credits, Tax-Exempt Bonds, California Department of Housing and Community Development Programs, CalHFA, and locally administered programs including HOME and CDBG.

• Demonstrated capacity in affordable housing financing and refinancing with expertise in building capital planning and implementation of renovation plans.
• Knowledge of regulatory agreements and ability to interpret same.
• Knowledge of landlord-tenant and fair housing laws and procedures.
• Knowledge of basic employment laws as they relate to equal opportunity, hiring, training, promotion, evaluation, and termination.
• Strong supervisory, personnel management, organizational, analytical, and problem- solving skills.
• Ability to delegate and communicate property management policies and procedures.
• Computer literate. Proficient in Word and Excel. Experience with property management software (preferably Yardi).
• Excellent communication (verbal and written), problem solving, interpersonal, decision- making, interpersonal and time management skills.
• Ability to represent the company to public officials and community groups.
• Ability to work under pressure and successfully meet deadlines.
• Must be able and willing to travel to all company locations to carry out duties and responsibilities associated with the management of the portfolio.
• Ability to handle shifting and multiple priorities in a fast paced, growth environment.
• Commitment to the companies' goals and philosophy.
• Proven ability to work with diverse groups in cooperative problem-solving and consensus building.

CERTIFICATES, LICENSES, REGISTRATIONS

Valid California Driver’s License and insurance required.

PHYSICAL DEMANDS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to sit and use hands to finger, handle, or feel. The employee is occasionally required to reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision and ability to adjust focus. Physical demands include writing/typing, use of computer and paper files, answering phones, attending meetings.

WORK ENVIRONMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. The noise level in the work environment is usually moderate.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

JOB DESCRIPTION REVISION

This is not necessarily an exhaustive list of all responsibilities, skills, duties, requirements, efforts or working conditions associated with this job. While this job description is intended to be an accurate reflection of the current job management reserves the right to revise the job or to require that other or different tasks are performed when circumstances change. This job description replaces all previous descriptions for this position.