Vice President Asset Management

Reports to: General Partner Representative Department: Asset Management FLSA Status: Exempt Direct Reports: Asset Manager Employment type: Full-time Position Summary The Vice President of Asset Management is a senior executive operating on behalf of various affiliated General Partners (“GP”) and responsible for maximizing the long-term value, financial performance, operational excellence, and risk-adjusted returns of the GPs’ mixed-income multifamily and senior housing portfolio. This position provides strategic oversight of assets throughout their lifecycle—from predevelopment, construction and lease-up through stabilization, operations, recapitalization, refinancing, preservation, and disposition. Reporting directly to the GP Representative, the VP serves as the leader for the GP’s asset management function, and in the case of Company assets, partners closely with Development, Finance, Construction, Legal, Property Management, and Investment Management to achieve investment objectives while ensuring the preservation of affordability, regulatory compliance, investor capital, and enterprise risk management. In addition to portfolio oversight, this executive supports the GP Representative’s consulting to the Company on its Enterprise Risk Management program, providing insurance and property related litigation, claims management, and operational risk mitigation, ensuring that both corporate and asset-level risks are proactively identified and effectively managed. Key Responsibilities Strategic Asset Management Update Asset Management Fee Schedule for each asset and GP relationship. Develop and execute asset-specific business plans designed to maximize long-term value, operating performance, and investor returns. Oversee financial performance, operating results, occupancy, leasing trends, reserve adequacy, capital expenditures, debt compliance, and overall portfolio health while identifying opportunities to improve net operating income, reduce expenses, preserve affordability, and enhance asset value. Establish policies, operating standards, and performance metrics that promote accountability, continuous improvement, and operational excellence and provide regular portfolio performance reporting and strategic recommendations to the General Partner. Serve as a strategic advisor to the General Partner, contributing portfolio investment strategy and long-term portfolio value creation. Property Operations Oversight & Compliance Establish performance expectations and accountability for financial results, resident satisfaction, maintenance standards, regulatory compliance, and operational excellence across the portfolio assets. Evaluate management company effectiveness through recurring reviews of the assets against annual operating budgets and implement corrective strategies for underperforming assets while supporting the application of best practices across the portfolio. Ensure the portfolio remains in full compliance with all applicable affordable housing regulations, including LIHTC, HUD, HOME, Bond, and state housing finance agency requirements. Collaborate with internal compliance teams and regulatory agencies to preserve tax credits, maintain affordability commitments, successfully navigate audits and inspections, and minimize regulatory risk. Investor Relations & (Re)capitalization Strategies Maintain executive relationships with institutional investors, lenders, syndicators, and JV partners. Consistent with approved asset-specific business plans, collaborate with the Company’s Investment Management department, hired by the GP, to: · Lead all portfolio capital events, including refinancings or debt restructurings, recapitalizations, preservation transactions, partnership restructurings, investor buyouts, and dispositions. · Direct hold-versus-sell analyses, oversee valuation activities, negotiate transaction terms, coordinate due diligence, and execute strategies that optimize portfolio performance and long-term ownership objectives. · Oversee construction-to-permanent loan conversions, tax-exempt bond conversions, permanent financing, equity installment funding, cost certifications, investor adjusters, and stabilization milestones to ensure timely execution and successful transition from rehabilitation to stabilized operations and for newly developed communities. Oversee partnership reporting, capital calls, investor return calculations, partnership distributions, financial reporting, and advisory committee presentations in accordance with partnership agreements and financing documents. Develop and oversee a comprehensive enterprise risk management framework that identifies, evaluates, and mitigates operational, financial, legal, environmental, regulatory, insurance, and reputational risks across the organization. Partner with the Company’s executive leadership to strengthen internal risk management controls – i.e., business continuity planning, disaster recovery preparedness, cybersecurity governance, and organizational resilience. Direct the Company's enterprise insurance program, including annual renewals, carrier and broker relationships, coverage analysis, premium management, and policy administration for all corporate and property-level insurance programs and coverages, including property, casualty, builder's risk, directors’ and officers’ liability, professional liability, employment practices, cyber, crime, workers' compensation, and umbrella liability exposures. Collaborate with the insurance brokers to provide executive oversight of all insurance claims and litigation matters, coordinating with insurance carriers, outside counsel, adjusters, and internal stakeholders to manage property losses, casualty claims, construction defect matters, employment claims, contract disputes, Fair Housing complaints, regulatory actions, and other legal proceedings. Develop strategies to minimize financial exposure, maximize insurance recoveries, control legal expenses, and reduce future organizational risk through proactive claims management and loss prevention initiatives. Staff Development Lead, mentor, and develop a high-performing asset management function while fostering collaboration across departments. Establish clarity around roles and responsibilities for each position within Asset Management. Develop professional development plans for all personnel. Qualifications Education and Experience Bachelor’s degree in Finance, Real Estate, Business Administration, Accounting, Economics, or related field; MBA or Master’s degree preferred. Minimum of 10 years of progressively responsible commercial real estate or multifamily asset management experience, including at least 5 years in affordable housing. Core Competencies Demonstrated expertise with Low-Income Housing Tax Credit (LIHTC) communities, institutional real estate investment, portfolio management, property operations, recapitalizations, debt and equity financing, and preservation transactions Significant executive leadership experience managing multidisciplinary teams, institutional investor relationships, third-party property managers, and complex real estate transactions Extensive knowledge of affordable housing regulations, partnership structures, financial analysis, capital markets, enterprise risk management, insurance programs, and litigation oversight Technical Requirements Proficiency in Excel and other Microsoft Office Suite Familiarity with financial modeling and reporting Physical Requirements Occasional lifting of office supplies and other materials associated with the position Occasional inspection site visits of interior units and property grounds (e.g., walking, climbing stairs) Must be able to perform the essential duties of the position with or without reasonable accommodations Core Competencies Excellent strategic and financial acumen Executive leadership skills Investment analysis expertise; Operational expertise, a plus Strong negotiation and relationship management abilities Demonstrated capacity to lead through complexity, growth and change Key Performance Indicators – General Develop business plans for all assets in the asset management portfolio Approve all property budgets for official sign off by the General Partner Oversee the performance of all management agents Monitor performance of individual assets and the portfolio as a whole Coordinate insurance renewal process and oversee claims and litigation management Oversee the portfolio assets throughout its life cycle from acquisition through disposition Maintain capital relationships and provide partner with returns information and distributions Ensure all reporting and filings are performed pursuant to regulatory and financial covenants KEY Performance Indicators - 2026 The following KPIs provide a balanced scorecard for evaluating performance in this role across financial stewardship, portfolio operations, business growth, compliance, stakeholder satisfaction, and organizational leadership. Targets should be reviewed annually and adjusted based on portfolio mix, market conditions, owner requirements, and regulatory obligations. See full list on the official job description. #J-18808-Ljbffr