Title: Director of Asset Management

Company: Affordable Equity Partners, Inc. (AEP)

Location: Columbia, MO, St. Louis, MO or Atlanta, GA

Schedule: Hybrid, 3 days in office

Affordable Equity Partners, Inc. (AEP): founded in 1997, AEP is a financial resources company that assists developers and investors in the Section 42 Low Income Housing Tax Credit (LIHTC) and historic rehabilitation tax credit programs to finance and create enduring value in neighborhoods and communities, while at the same time to reduce tax liability. AEP assists projects in the pre-development and construction stages, as well as in long-term asset management.

POSITION SUMMARY / PURPOSE

The Director of Asset Management is responsible for evaluating AEP’s current portfolio and presenting strategic opportunities or plans to upper management that maximizes results and revenue for the company. The Director also oversees the Asset Management department and ensures that each affordable housing community is being developed and maintained in accordance with IRS Section 42 regulations.

ESSENTIAL FUNCTIONS

• Monitors the ongoing construction, lease-up, operational and financial success of the properties in the Affordable Equity Partners portfolio and reports to executive team any risks or properties underperforming.
• Collaborates with the executive team and AEP leadership on Asset Management objectives and deliverables which include annual budgets and quarterly presentations.
• Reviews and provides direction for Asset Managers regarding Watchlist properties.
• Oversees Asset Management Department
• Develops and maintains relationships with general partners and developers, investors, management agents, housing agencies and lenders interacting with properties in the assigned portfolio. Ensures all deliverables to partners are done timely.
• Provides a review and recommendation of the capacity of new General Partners through site visits and review of operations, staffing, etc.(as needed)
• Provides reports to upper management regarding the status of portfolio wide risks being addressed. This includes the proposed plan of action, timeline for correction of the problem with appropriate interim benchmarks, and frequency of contact to check on the plans progress.
• Helps identify opportunities within the portfolio to create a higher return by optimizing operations, cash flow and long term value by identifying properties for refinance, disposition, qualified contract and acquisition.
• Responsible for investment fund performance through collaboration with various departments to maximize returns.
• Provides support to the Underwriting and Acquisition Departments by coordinating the site visits to analyze market conditions, site evaluation or neighborhood and community environment.
• Reviews and updates annually the Asset Management procedures manual developing new procedures as needed.
• Effectively leads and develops team members.
• Develops metrics to determine Asset Management team and overall company success.
• Performs Human resource activities, including identifying performance problems and provides recommendations for action, evaluates performance, and interviews and provides recommendations for additional staff as needed. Reports any personnel issues to the Vice President as they arise.
• Has a full understanding of LIHTC regulations and completes on-going training to stay current with changes in the industry
• Coordinates and reviews the preparation of special projects or reports as communicated by management.
• Performs other duties and responsibilities as assigned.

ESSENTIAL KNOWLEDGE, SKILLS AND ABILITIES

• 
  Ability to compile, analyze, and present financial models.
• Strong Analytical Skills.
• Excellent verbal and written communication skills.
• Ability to comfortably interface with executives and make presentations.
• Self-motivated individual that can demonstrate an ability to think critically and creatively solve problems with little or no direction.
• High level of personal integrity.
• Keen sense of detail.
• Ability to multi-task and thrive in a fast-paced/entrepreneurial work environment.
• Ability to travel.

MINIMUM EDUCATION/EQUIVALENT EXPERIENCE REQUIREMENTS

Bachelor’s degree preferably in Accounting, Real Estate or Finance.

7 years of real estate asset management or related financial experience, multi-family housing experience required

3 years of management experience required

Proficiency in financial analysis and spreadsheet modeling required

Experience presenting to Executive leadership required

Advanced MS Excel Skill required

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