Director of Asset Management

Director of Asset Management

Hybrid • Evergreen Real Estate Group - Chicago, IL 60661

Overview

Salary Range $165,000.00 - $185,000.00 Salary Position Type Full Time

Description

Position Title: Director of Asset Management

Department: Asset Management

Reports To: Chief Executive Officer or Chief Operating Officer

Location: Hybrid

FLSA Status: Exempt

Salary Range: $165,000 – $185,000 + Bonus Structure

Job Summary

Evergreen Real Estate Services is seeking a strategic, systems-oriented Director of Asset Management to lead and build a best-in-class asset management function for a growing national affordable housing portfolio, including assisted living communities.

This role operates from a true ownership perspective, with primary responsibility for driving long-term asset value, financial performance, and investment outcomes across the portfolio. The Director will translate property-level data into actionable business decisions, guide asset-level strategy and performance oversight, support acquisitions and integrations, and serve as a key partner to executive leadership, investors, and lenders.

Key Responsibilities

Portfolio Strategy & Ownership Oversight

• Develop, maintain, and communicate asset-level business plans aligned with financial and operational goals
• Monitor performance across occupancy, collections, expenses, reserves, capital needs, and compliance
• Provide ownership-level insight and recommendations on portfolio strategy and asset performance
• Lead portfolio reporting and present risks, opportunities, and action plans to senior leadership

Financial Performance & Risk Management

• Review monthly financials, variances, and reforecasts; identify trends and recommend solutions
• Establish reporting processes that support decision-making without overburdening operations
• Review and analyze property operating budgets, reserve levels, and capital needs to evaluate financial performance and support ownership-level asset strategy
• Lead and execute financial strategy for refinancing, recapitalizations, Year 15 transitions, and dispositions
• Track and oversee property tax incentives across the portfolio
• Evaluate and recommend AI options to improve information assessment and reduce time requirements for asset management tasks

Asset Integration & Business Plan Execution

• Support due diligence activities for acquisitions, transitions, and integrations by reviewing operational, financial, compliance, and physical asset information and identifying potential risks or performance concerns
• Partner with property management, accounting, compliance, and operations teams to support implementation of operating plans, financial goals, and performance expectations for newly onboarded assets
• Address stabilization challenges through coordinated, actionable solutions

Compliance & Regulatory Oversight

• Partner closely with the Compliance team to monitor regulatory performance, identify compliance-related risks, and support resolution planning for LIHTC, HUD, and other affordable housing programs
• Partner with internal teams to strengthen tracking of reporting deadlines and requirements
• Monitor compliance risks and ensure appropriate escalation and resolution

Capital Planning & Physical Asset Oversight

• Evaluate capital needs and priorities with operations and facilities teams
• Support financial and operational strategy related to refinancing, recapitalizations, Year 15 transitions, and dispositions in partnership with preservation, development, and executive leadership teams
• Review reserve usage, capital projects, and long-term asset preservation strategies
• Conduct periodic and strategic site visits as needed to assess overall asset condition, operational challenges, and performance trends

Watchlist, Turnaround & Manager Oversight

• Establish and manage a watchlist for underperforming or high-risk assets
• Develop and guide turnaround strategies for operational or financial challenges
• Evaluate effectiveness of property management (including third-party managers)
• Recommend management changes when necessary

Stakeholder Communication

• Serve as a primary contact for investors, lenders, and financial partners post-stabilization
• Develop clear ownership narratives for performance issues and strategic decisions
• Present recommendations to internal and external stakeholders

Department Leadership & Process Development

• Build scalable systems, reporting tools, and processes for asset management
• Partner with IT and internal teams to improve data and reporting capabilities
• Help define future staffing needs and support department growth
• Support organizational alignment by reinforcing structured goal-setting, accountability, and performance tracking frameworks (e.g., EOS or similar systems)

Education & Experience

• Bachelor's degree in Finance, Real Estate, Business Administration, or related field required
• Master's degree preferred
• 7+ years of progressive experience in affordable housing asset management or related ownership-side roles
• Strong experience with LIHTC, HUD, and affordable housing operations
• Experience with financial analysis, portfolio oversight, and capital strategy
• Prior leadership or department-building experience preferred

Licenses & Certifications

• Relevant professional certifications or designations in real estate, finance, or asset management are a plus (e.g., CFA, CPA, CCIM, or similar)

Technical & Physical Skills

• Strong financial analysis and modeling skills
• Ability to interpret complex property financials and performance data
• Proficiency in property management and financial reporting systems
• Ability to travel for site visits as needed

Other Requirements

This role operates cross-functionally in partnership with Property Management, Compliance, Facilities, Accounting, and Development teams and is primarily focused on ownership-level asset strategy, financial performance, and risk oversight.

• Ability to operate at both strategic and operational levels
• Strong cross-functional collaboration skills
• Experience working with third-party management companies preferred

Skills

• Strategic Asset Thinking - Ability to evaluate property performance from an ownership perspective, connect financial, operational, and physical indicators, and translate insights into clear, actionable strategies that drive long-term asset value.
• Financial & Analytical Acumen - Strong ability to interpret complex financials, identify trends and risks quickly, and move from analysis to execution. Demonstrates sound judgment in budgeting, forecasting, capital planning, and investment decisions.
• Ownership Mindset & Accountability - Approaches decisions with an investor mindset, taking full ownership of outcomes. Holds self and others accountable for performance, follow-through, and results across the portfolio.
• Execution & Problem-Solving - Proactively identifies issues and drives solutions, particularly in underperforming or complex assets. Balances urgency with thoughtful decision-making and follows through to resolution.
• Cross-Functional Leadership - Effectively partners across property management, development, accounting, compliance, and facilities to align priorities, resolve challenges, and drive performance. Leads through influence, not just authority.
• Systems Thinking & Process Development - Ability to build structure in a growing organization by developing scalable systems, processes, and reporting frameworks that improve consistency, visibility, and decision-making.
• Stakeholder Communication & Influence - Communicates clearly and confidently with internal leadership, investors, and external partners. Able to present complex information in a concise, actionable way and influence key decisions.
• Regulatory & Industry Expertise - Demonstrates strong working knowledge of affordable housing programs (LIHTC, HUD, etc.) and integrates compliance considerations into asset strategy and risk management.
• Adaptability & Growth Orientation - Thrives in a fast-paced, evolving environment. Comfortable navigating ambiguity and helping scale processes, teams, and infrastructure as the organization grows.

Work Environment & Physical Demands

This role operates in a professional office environment with periodic travel to property sites. Responsibilities may include walking properties, evaluating physical conditions, and attending onsite meetings