Vice President of Asset Management and Development

2 weeks ago

Houston, United States Recruiting Source International Full time
Vice President of Asset Management and Development
Houston, TX 77057
Salary: $156k

GENERAL SUMMARY
The Vice President of Asset Management and Development manages the Real Estate Investments and Development & Housing Operations (REID) and the Asset Management Department of the company under the direction of the President and CEO. The VP of Asset Management & Development shall be active in all phases of affordable housing development and modernization, including selecting developable sites, analyzing potential acquisitions, conceptualizing projects, obtaining appropriate financing, and ensuring projects are completed on time and within budget. The incumbent oversees all new housing development, capital improvement programs, Capital Funds Program (CFP), Low Income Housing Tax Credit Program, and energy savings performance contracts. The individual is responsible for the direct oversight of all aspects of administrative, financial, capital and operations of a broad portfolio of affordable housing assets consisting of Public Housing, Project-Based Assistance, Low-Income Housing Tax Credits and Rental Assistance Oh Demonstration programs. Catalyzes leading the agency's multi-family Asset Management team, to ensure superior performance that capitalizes on opportunities and maximizes results. Performs a variety of managerial tasks involving the operation of housing developments.

PRINCIPAL DUTIES AND RESPONSIBILITIES
REID

  • Envisions and identifies viable affordable housing developments and collaborates with the President and CEO and Board of Directors on decisions to prioritize certain development projects and invest company resources and seek out new resources.
  • Management responsibility for REID; including supervision of staff engaged in development and capital improvements.
  • Set short-term and long-term goals for the company portfolio.
  • Advocates for affordable housing by giving public presentations, participating in community and public policy groups, attending conferences and staying informed of public policies affecting affordable housing.
  • Represents company at public hearings related to land use and design; meets with neighborhood groups on project related information.
  • Assists in the preparation of information, reports, and recommendations for the Board of Commissioners and prepares Resolutions for Board action.
  • Develops methods of communication with residents for input into and concerns regarding modernization.
  • Collaborates with and supports other company departments by utilizing effective lines of communication for exchange of information necessary during design, construction and lease-up/re-occupancy.
  • Administers and leads the relocation process of all residents requiring relocation as a result of capital improvements.
  • Administers regulations and directives as required by HUD.
  • Develops proforma capital development and operating budgets and financing applications which incorporate many different sources of financing.
  • Coordinates the submission of due diligence to government agencies, lenders and investors.
  • Monitors the expenditures of modernization and new development funds for compliance.
  • Develops, revise, expands, and/or updates company policies and procedures regarding capital improvements and real estate development.
  • Formulates plans and procedures, establishes deadlines, requires reports, analyzes problems, and develops solutions for all construction related activities.
  • Assists in and coordinates the preparation and timely submission of the Real Estate Investments and Development (REID) budget and amendments, and monitors expenditures during the year.
  • Serves as the Contracting Officer for all architectural and engineering and construction contracts.
  • Responsible for monitoring the process of all design & construction related consultants. Monitors construction process by negotiating construction documents and contracts, monitoring construction progress and resolving conflicts, and overseeing draws and monitoring construction costs and budget.
  • Coordinate financial closings, cost certification, 8609s and conversion.
  • Examines business development programs for possible integration into the department's program.
  • Works on year-end financial reports and other year-end close out tasks submitted to HUD.
  • Plans and delegates work to personnel involved in new and ongoing development efforts.
  • Develops and implements a system for reporting project progress.


Asset Management
  • Directly manages all asset management components for a portfolio that is fully and/or partially owned by the company and its' private/public subsidiaries to ensure relentlessly pursuit in achieving key benchmarks including but not limited to: full occupancy, collection of rents and fees, compliant admissions, timely unit turnaround, timely completion of maintenance work orders, optimal tenant satisfaction, achievement of quality standards, conducting timely annual/housekeeping inspections, enforcing community services requirements, minimal PIC errors, income verification, adequate curb appeal, financial stability, lease compliance & enforcements, inventory/unit management, procurement, compliant operations, tenant satisfaction, timely reporting &tax filings, etc.
  • Reviews and analyzes monthly performance/financials and variance reports to ensure key benchmarks(agency goals, site/project objectives, pro-forma metrics, budgets and market comparable) are achieved, along with making recommendations for resolving potential challenges.
  • Establishes and monitors work-flow processes for Asset Management to promote efficient and effective operations that surpasses performance standards and complies with regulatory requirements.
  • Collaborates with other agency departments in managing insurance policies acquired by the company and/or management agents, for all sites. Duties shall include but not limited to; confirming adequate coverage, renewals, coordinating the filing of claims and reporting.
  • Collaborates with other agency departments in establishing and monitoring risk management processes that protects assets from the probability and/or negative impact of unfortunate occurrences.
  • Collaborates with Finance in evaluating all real estate for net income and expenses, as well as property taxes. Conduct periodic analysis and pursue the filing of exemptions, appeals and/or adjustments as deemed appropriate.
  • Performs periodic on-site visits to conduct property inspections and/or compliance reviews, to confirm information previously reported by staff and/or management agents.
  • Maintains open and effective lines of communication with numerous stakeholders (management agents, partners, investors, funders/lenders, etc.)regarding asset management performance, compliance, financial stability and/or investment-related matters.
  • Reviews and monitors compliance with all applicable Asset Management documents in accordance to partnership agreements, management Agreements, Regulatory Agreements, Land Use Restrictive Agreements (LURA),Admission Continued Occupancy Plan(ACOP), Annual Contribution Contracts, Loan Documents, Standard Operating Procedures, Regulatory Compliance Contracts, Service Contracts, etc.
  • Consult Asset Management team and Management Agents on preparing monthly financial reports and annual site budgets, with input from the agency's Finance Department.
  • Collaborates with other agency departments to assist in formulating funding plans, pro-forma, budget projections and management practices for new real estate developments.
  • Collaborates with the agency's Purchasing Department in preparing necessary documents to procure new management agents, which also includes serving as Chair of the Evaluation Committee.
  • Regularly monitors amendments in market/industry standards and make recommendations if administrative changes are necessary for modifying property rents, fees, utility allowances, permits, polices/procedures, etc.
  • Manages lease agreements for non-residential space at the sites, including coordinating procurement, drafting terms, lease compliance and renewals.
  • Responsible for interviewing, selecting, supervising and evaluating Asset Management personnel, including the scheduling of professional development opportunities. Supervision is defined as directly overseeing major decisions and actions of subordinates to enhance their capacity to achieve portfolio objectives, work plans and performance benchmarks.
  • Conducts regular scheduled meetings/trainings to ensure subordinates and management contractors are properly informed about the desired expectations and benchmarks.
  • Maintain working relationships with community partners, resident council leaders which may require attendance at meetings scheduled during nonbusiness hours.
  • Collaborates with the Director of Security on addressing safety issues at the sites, along with determining how asset management can be utilized to maximize the protection of human and building assets.
  • Collaborates with the Director of Economic Opportunities to identify opportunities to integrate asset management in the promotion of tenant education, lease compliance, workforce development and special events.
  • Stays abreast of all federal, State, local and/or industry-related regulations impacting asset management, affordable housing programs, tenant rights, etc. Review and approve the use of operational funds for agency staff and management agent's procurement of goods and services that are deemed as small, routine, non-routine, capital and emergencies. All capital-funded purchases shall be processed with the agency's REID Department.
  • Develops and implements Disaster Plans that are structured approach with instructions for the agency and/or management agents to properly respond to unplanned incidents related to extreme inclement weather, fire, power outages, terrorism, and/or community disturbances.
  • Reviews and monitors tenant charges applied to tenant statements for accuracy and ensures timely distribution of the statements at public housing sites.
  • Collaborates with the Energy Manager to monitor regulations impacting utility allowances and utility management at master-metered public housing sites. Related tasks include but are not limited to procuring a meter-reading contractor, confirming accurate meter readings, charges for excessive utility fees, adjusting errors, etc.
  • Addresses and resolves problems that could negatively impact asset management performance by analyzing the issue(s), creating a solution(s), implementing corrective measures, evaluating projected outcomes, and making necessary adjustments.
  • Reviews, analyzes and collaborates with the REID Department on managing capital improvements and the use of funds processed by management agents.
  • Conducts frequent compliance reviews of data recorded in primary management software systems (Elite & PIC) to ensure accuracy and validity. The reviews shall also include software systems that are not provided by the agency and utilized by management agents.
  • Conduct quarterly asset management reviews to analysis administrative and financial performance for agency leadership, management agents, investors and/or other stakeholders.
  • Collaborates with other agency departments in developing and modifying policies, procedures and notices that are required to comply with Federal, State and local requirements.
  • Develops strategic plans and assessments for positioning Asset Management in addressing long-term goals and emerging needs.
  • Review and approve all asset management reports prepared for internal and external purposes to ensure accuracy.
  • Prepares statistical data, narratives, correspondences and/or presentations to convey matters pertaining to asset management properly.
  • Serves as the liaison with other agency departments (IT, Policy, Human Resources, Legal, Finance, REID, Purchasing, etc.) to address matters pertaining to Asset Management.
  • Participates in agency-sponsored trainings and staff meetings, which may include occasional local and out-of-state.
  • Performs other duties as required.

KNOWLEDGE, SKILLS AND ABILITIES
  • Demonstrate expertise in affordable housing developments. Experience having led and closed at least two LIHTC transactions. Knowledge of Section 42 regulations required.
  • Demonstrate considerable independence, evaluative thinking, written and oral communication skills, and operational leadership and strategic planning skills.
  • Thorough knowledge of modern principles and practices of asset/property management.
  • Knowledgeable of municipal and county governments that are related to public housing and tax-credit communities.
  • Success at real estate development, acquisition, and preservation as well as generation of developer fees and revenue when compared against approved project completion schedules and Board approved budget limits.
  • Comprehensive knowledge of the modern principles, practices, and techniques pertaining to management of affordable housing programs.
  • Thorough knowledge of and a sympathetic understanding of principles underlying the Federal public housing law.
  • Comprehensive knowledge of the relationship between the company and federal, state, and local jurisdictions and their abilities to provide funds or other support to the company, and PHA operating policies and procedures regarding such relationships.
  • Knowledge of federal affordable housing programs, with a focus on public housing, Section 8 tenant-based and project-based voucher programs, Project-Based Section 8 Multi-family Rental Assistance (PBRA), Community Development Block Grant (CDBG) including CDBG-Disaster Recovery, HOME, is preferred.
  • Thorough knowledge of federal regulations, State laws and city ordinances governing public and other subsidized housing programs, including but not limited to health and fire regulations, landlord-tenant relationships, leasing of property, eviction, community safety and empowerment programs
  • Considerable knowledge of community organizations, institutions, groups, agencies, and business firms.
  • Thorough knowledge of coach and how to work with employees to motivate and empower them to succeed professionally.
  • Experience communicating and working successfully with people from various socioeconomic and cultural backgrounds.
  • Skills in personal computer software packages such as word-processing and spreadsheets, ability to generate development proformas.
  • Skills for meeting and dealing with the public and other bodies, and presenting information in a clear, organized, and convincing manner.
  • Ability to negotiate developer agreements, land and real estate contracts.
  • Knowledge of federal procurement is preferred.
  • Ability to deal effectively with situations requiring tact, diplomacy, and firmness.
  • Ability to develop and implement effective administration and operational procedures.
  • Ability to serve as a team leader.
  • Ability to establish and maintain effective and courteous working relationships with other employees, residents, and community agencies and other activities that provide services.

COMPLEXITY / SCOPE OF WORK
  • The employee must perform a wide variety of tasks, which range from routine to difficult and are not closely related.
  • Work needing to be done must be identified, coordinated, integrated, prioritized and accomplished using a variety of tasks or assignments.
  • The Vice President of Asset Management & Development must make regular decisions involving usual and unusual circumstances, conflicting data, or other non-routine occurrences.
  • Decisions and issues facing the employee involve multiple organizational units.
  • The employee's work affects other employees, company residents, various departments of city and county government, and numerous business firms, organizations, institutions, and agencies in the community.
  • The quality of the employee's assistance to the President & CEO is reflected directly in the accomplishment of the company's goals and objectives.

GUIDELINES
  • Other than the established policies and procedures and traditional employment practices, few written guidelines cover these situations. When the Vice President of Asset Management & Development makes decisions that are not covered by guidelines, the Vice President of REID will generally consult the supervisor of some other authority, develop new guidelines, or decide based on the circumstances and past experience.
  • Good judgment is required.

SUPERVISORY CONTROLS
  • The employee receives general instructions from the President & CEO and then develops the sequence and timing of activities on the basis of objectives, priorities and deadlines established.
  • Generally, instructions from the President & CEO are broad, though there are intermittent occasions when the Vice President of Asset Management & Development receives specific instructions.
  • The Vice President of Asset Management & Development initiates and follows through on routine activities without supervisory direction.
  • Problems or situations not covered by instructions are either dealt with independently, or in consultation with the supervisor.
  • The Vice President of Asset Management & Development work is reviewed regularly for adherence to policies and attainment of objectives.
  • The employee provides direction and instructions to subordinates.
  • The Vice President of Asset Management & Development monitors the work of subordinates for accuracy, completeness, conformity to policy, and achievement of goals or objectives, and evaluates employee job performance.

PERSONAL CONTACTS
  • Contacts are primarily with other company employees, the Board of Commissioners, federal, state, and local governmental officials, and representatives, banking institutions, and community agencies.

PHYSICAL DEMANDS / WORK ENVIRONMENT
  • The employee's work is primarily sedentary but may involve some physical exertion during on-site visits with residents, staff members, or community personnel.
  • The employee may sit comfortably to do the work or may be involved in walking, standing, bending, carrying light items such as papers, books, and files, or driving an automobile.
  • There may be physical exertion while traveling to meetings, conferences, or workshops in other cities.
  • The employee's work involves the normal risks or discomforts associated with an office environment and are usually in an area that is adequately cooled, heated, lighted, and ventilated. From time to time, however, it may involve visits to outdoor developments, sites, dwellings, or facilities.
  • The employee's work involves the normal risks or discomforts associated with an office environment and are usually in an area that is adequately cooled, heated, lighted, and ventilated. From time to time, however, it may involve visits to outdoor developments, sites, dwellings, or facilities other field related to position duties.

MINIMUM QUALIFICATIONS
  • Four (4) years degree in Business, Construction Management, Public Administration, or other related field related to position duties from an accredited college or university, and four (4) years progressive management experience, or a combination of education and experience.
  • Ten (10) years in a leadership role planning and developing affordable public or private sector housing or an equivalent combination of experience and education.
  • A Housing Management Certificate is preferred.
  • Bondable.
  • Valid Texas driver's license.
  • Eligibility for coverage under Agency fleet auto insurance.


PHYSICAL DEMANDS
An employee must meet the physical demands described here to perform the essential functions of this job successfully. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
While performing the duties of this job, the employee is frequently required to maintain a stationary position, operate computers and other office equipment, move about the office, attend onsite and offsite meetings, and communicate. The employee must be able to exchange information accurately in person, in writing, and via e-mail and telephone. The employee must occasionally transport up to 10 pounds.

WORK ENVIRONMENT
The work environment characteristics described here represent those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
Office environment: The noise level in the work environment is usually moderate. May be frequently required to travel to perform construction site visits, which may require the use of safety equipment.

DISCLAIMER
The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.

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