Director, Asset Management, Workouts, Hybrid position

Enterprise Community Partners•Baltimore, MD

1d•Hybrid

About The Position

The Director, Workouts is an asset management leadership role responsible for stabilizing, restructuring, and repositioning underperforming assets within Enterprise Community Development’s affordable housing portfolio. This role is specifically focused on properties experiencing structural cash flow deficits, sustained net operating income shortfalls, capital constraints, or other forms of distress requiring active intervention beyond routine asset management. The Director, which is a new position at ECD, will manage a dedicated team and serves as the owner’s representative for a portfolio of non-stabilized LIHTC senior and family communities. The position requires advanced financial expertise, strong people leadership and communication skills, and disciplined problem solving to drive long-term stabilization and risk mitigation. The position reports to the Senior Vice President, Asset Management. The Director, Workouts is a hybrid position based out of the Baltimore, MD and Bethesda, MD HQ Offices.

Requirements

7+ years of LIHTC/multifamily experience.
3+ years of workout experience.
5+ years of direct people management experience.
Bachelor’s degree required; Finance, Accounting, Business, or Real Estate preferred.
Demonstrated people leadership, sound judgment, and ability to operate effectively in high-pressure environments.
Excellent verbal communication and business writing skills.
Strong financial and analytical skills, including advanced proficiency in Microsoft Excel.
Proficiency with Yardi.
Ability to produce, review, and interpret real estate financial models and financial statements.
Proven problem-solving, critical-thinking, and project management skills.
Strong organizational skills with ability to coordinate complex activities, prioritize competing demands, and meet deadlines.
Ability to interact professionally with a diverse group of associates, residents, and external partners.
Demonstrated positive attitude, intellectual curiosity, and commitment to continuous improvement.
Demonstrated commitment to ethics, professionalism, and collaboration; ability to build respectful, effective working relationships with internal and external stakeholders.

Nice To Haves

Master’s degree (MBA or MS Real Estate) or CPA strongly preferred.

Responsibilities

Lead the identification, triage, and resolution of assets experiencing chronic cash flow deficits or operational distress.
Develop, implement, and oversee property-specific action plans that result in property stabilization.
Prepare and present recommendations to Senior Management.
Find, investigate, and apply for project level grant or soft debt funding to help properties stabilize.
Assist Transactions Team with dispositions and/or refinancings.
Identify additional sources of ancillary income that can help a community stabilize.
Manage, coach, and develop a team of workout-focused asset management professionals.
Review and approve operating budgets, reforecasts, capital expenditure plans, and non-routine expenditures.
Analyze financial statements, debt structures, reserve usage, and partnership arrangements.
Partner with property management, development, compliance, and resident services teams to resolve complex asset challenges.
Oversee site visits, physical needs assessments, inspection responses, and action plans.
Oversee monthly, quarterly, and annual reporting for the workout portfolio.
Prepare clear internal reporting and support lender, investor, and partner communications.

Benefits

annual performance bonuses
generous paid leave programs
dental, health, and vision care plans
family-building benefits such as adoption and surrogacy support
health advocacy
Employee Assistance Program (EAP)
mental health benefits
financial education
wellness programs
auto-enrollment in the company’s 401(k) plan with employer matching contributions
learning and development opportunities, including tuition reimbursement for job-related courses and certifications