Associate Director of Asset Management

Beacon Interfaith Housing Collaborative•Saint Paul, MN

1d•$90,000 - $115,000•Hybrid

About The Position

Beacon Interfaith Housing Collaborative seeks an Associate Director of Asset Management. This position has oversight responsibility for Beacon’s affordable housing portfolio and assists in developing strategies and plans to help lead the Asset Management Department within Beacon’s Supportive Housing Division. The Associate Director partners with the Director of Asset Management to ensure Beacon’s portfolio is managed as a network of mission-driven business units and supports the relationship with third party property management, security services, vendors, lenders, limited partners, and community stake holders. The Associate Director partners with the contracted service providers and internal organizational management team to ensure alignment and support. The Associate Director has one direct report, the Associate Asset Manager. This is a full-time, exempt position, and is eligible for health benefits, our retirement plan, and paid time off. The annual salary range for this position is $90,000 - $115,000.

Requirements

Bachelor’s degree with specific concentration in real estate, property management, asset management, urban planning, business administration, finance or a closely related field highly preferred. An asset management certificate combined with 5 years of experience in affordable or supportive housing property and asset management may be considered as equivalent to specified bachelor’s degree.
Minimum of 5 -7 years of work experience in affordable or market rate housing, real estate finance, property management or supportive housing.
Minimum of 5 - 7 years of work experience in financial analysis including reading and interpreting financial statements and audits, income statements and balance sheets, budgets, and insurance and property tax information.
Demonstrated success Acceptable background checks relevant for the position, including Minnesota Department of Human Service (DHS) NetStudy.
Access to a reliable vehicle and possessing an acceptable driving record.
Ability to work at the Beacon administrative offices or travel to Beacon properties.

Nice To Haves

Knowledge and experience with affordable supportive housing property management or finance
Ability to synthesize data from multiple departments into actionable insights
Familiarity with low-income housing funding mechanisms essential to the development and operations of affordable housing properties (i.e. tax credit financing, operating subsidy programs, state/local/federal funding sources).
Demonstrated problem solving skills in analyzing and recommending alternatives and solutions for affordable housing operating issues
Strong collaboration and relationship skills across internal teams and external partners (e.g. service providers, property managers, investors).
Knowledge of Yardi reporting
Ability to work for long periods of time on a laptop
Ability to lift up to 15 pounds at times
Microsoft Office - Excel, Word, Outlook
Strong financial aptitude
Attention to detail
Strong organization and time management skills

Responsibilities

Develop, establish, and oversee an internal systematic knowledge of property operations, capital needs and financial performance to recommend strategy and decisions, including asset workbooks, calendars, and annual plan reviews.
Review monthly asset performance, update cash flow assessments and draft KPI executive summaries.
Update consolidated cash flow, REO, and KPI summary for review with Beacon Finance and the FORE committee and quarterly reporting to Beacon’s board of directors.
Recommend and facilitate initiatives for underperforming assets and operating best practices – occupancy, delinquency, policies, etc.
Work with the Director and asset management team to establish whole project Asset Plans for each property, ensuring priorities consistent with Beacon mission and development proforma expectations.
Support LIHTC year 15 determinations or disposition planning.
Oversee the annual property budget process, including annual rent increases, and recommend for division, finance, CEO and LLC approval.
Oversee and track internal and property management compliance reporting.
Oversee and track insurance claims, planned capital expenditures, and property tax transactions and recommend for divisional approval.
Oversee and track security costs and KPIs to each property’s security plan and recommend for divisional approval.
Oversee and track commercial tenant leases, tax updates, expense reconciliation, property maintenance, and lease renewals and recommend for divisional approval.
Oversee and track the transactions of Beacon provided support, asset management fees, and reserve transactions and recommend for divisional approval.
Recommend year end property waterfall distributions for divisional and limited partner approvals.
Apply for asset related grants and ensure funding allocation and compliance.
Support shared financial accountability between Beacon Finance, Asset Management and Supportive Housing, collaborating to support Beacon’s mission and long-term sustainability.
Provide asset management expertise and involvement from application, pre-close, construction, completion and stabilization.
Assess new project proposed financial statements to market, industry and internal benchmarks.
Support housing development on recapitalization planning and application for property funding.
Lead and facilitate the new property transition from development and construction to stabilized operations, including the lease up, financial operations and facility setup.
Assess, recommend and implement property quality inspection standards, preventative maintenance programs and tracking, and capital needs assessments.
Collect ongoing feedback from property management and service providers about best practices in building design including materials and finishes, landscaping design and materials, HVAC system choices, low-voltage systems, and internet and technology use and placement.
Develop and establish best products and practice standards for new developments and building rehabs to support overall design and budget decisions with the development project manager and architect.
Lead Beacon’s renewable energy and green operational strategies, including shaping an overall solar energy strategy for existing and new properties.
Support the development, updates, and stakeholder input for each property TSP, three-party MOU, service plan and budget, management agreement, and management and marketing plan.
Support effective supportive housing operations policy development and implementation, including occupancy, delinquency, security and law enforcement.
Monitor property compliance with all funding and other requirements
Develop and maintain positive relationships with neighborhood associations.
Assess and recommend operating improvements to tenant and community safety and security.
Work with onsite operating teams to enforce safety and understand neighborhood issues.
Partner with Director to evaluate staff structure, workflows, and role clarity across Asset Management, Property Operations, and Supportive Housing teams.
Participate as a member of the management team, contributing to organization strategies and initiatives that advance Beacon’s mission.
Support a culture of excellence and accountability.
Hire, oversee and evaluate the work of direct reports.
Develop authentic and trusting professional and positive relationships with staff.
Oversee annual work plans and goals that are meaningfully aligned with division and organization strategy.
Ensure that staff receive professional development that is aligned with position success and department/division and organization goals.
Facilitate the development of Associate Managers into Asset Managers.