Director, Asset Management

National Equity Fund•New York, NY

22h•Onsite

About The Position

National Equity Fund, Inc. (NEF), a leading non-profit syndicator of low-income housing tax credits (LIHTC), is seeking a Director, Asset Management to conduct a wide range of new business initiatives. The LIHTC program is the most important resource available today for creating affordable housing in the United States. NEF uses its extensive experience, talent, and resources to create sustainable affordable housing. The Director, Asset Management will work closely with the Managing Director of Asset Management to provide leadership, oversight, and strategic direction for NEF’s lower-tier investment portfolio. The Director is responsible for supporting consistent asset management practices, monitoring portfolio performance and risk, guiding staff, ensuring timely and accurate reporting, and coordinating resolution strategies for financial, operational, compliance, and sponsor-related issues. This position plays a key role in strengthening portfolio outcomes, maintaining sound business practices, and supporting effective communication with internal and external stakeholders. Seeking Candidates within the East Region.

Requirements

Bachelor’s degree in business, finance, real estate, public administration, urban planning, or related field required; equivalent directly relevant experience may be considered.
A minimum of seven years of progressively responsible experience in real estate asset management, affordable housing, real estate finance, underwriting, development, property management, or investment portfolio oversight.
Strong knowledge of affordable housing programs, with emphasis on the Low-Income Housing Tax Credit program, partnership structures, regulatory agreements, compliance monitoring, investor reporting, operating statements, audits, reserves, and capital needs.
Excellent verbal and written communication skills, including the ability to prepare executive summaries, issue memos, portfolio reports, action plans, and stakeholder communications that are clear, accurate, professional, and solution-oriented.
Strong analytical, financial, and forecasting skills, including the ability to interpret financial statements, evaluate portfolio trends, assess operating performance, identify risk indicators, and recommend practical resolution strategies.
Proficiency with Microsoft Office, particularly Excel, and ability to use asset management systems, databases, and reporting tools to extract, analyze, and present portfolio information.
Demonstrated ability to manage complex portfolio matters, balance multiple priorities and deadlines, exercise sound judgment, and communicate effectively with senior leadership and external stakeholders.
Demonstrated ability to lead teams collaboratively, foster accountability, support a constructive team culture, and motivate staff in the achievement of corporate, regional, and departmental goals.
At least five years of proven successful management or supervisory experience required, including experience coaching staff, setting goals, managing workload, providing performance feedback, and supporting professional development.

Nice To Haves

MBA or advanced degree preferred.
Experience working with nonprofit and for-profit sponsors, property management agents, investors, lenders, public agencies, and legal counsel preferred.

Responsibilities

Work closely with the Managing Director to ensure consistent application of sound business practices, disciplined asset management standards, and high-quality portfolio oversight across the East Region.
Provide effective leadership, coaching, guidance, and oversight to direct reports, including workload management, performance feedback, professional development, and accountability for timely, accurate, and complete work products.
In conjunction with the Managing Director, establish performance goals, provide timely feedback, support staff development, and reinforce consistent standards for communication, analysis, reporting, and follow-through.
Prepare, directly or through staff, accurate and timely portfolio reports, risk assessments, executive summaries, action plans, and analytical products that evaluate portfolio condition, performance trends, compliance status, and emerging issues.
In conjunction with asset management staff, contribute to underwriting and acquisition reviews by evaluating sponsor capacity, management performance, operating assumptions, property risks, market conditions, and long-term asset management considerations.
Ensure measures are in place to identify, monitor, escalate, and resolve portfolio risks, including financial performance concerns, operating deficits, lease-up or occupancy challenges, compliance issues, physical condition concerns, reserve needs, audit delays, and sponsor or property management capacity issues.
Oversee compliance-related portfolio monitoring, including LIHTC and regulatory requirements, extended-use obligations, qualified occupancy, tenant file review follow-up, annual reporting, audit submissions, agency communication, and resolution of compliance findings.
Represent Asset Management in communications with sponsors, property managers, investors, lenders, agencies, legal counsel, and internal leadership, ensuring issues are framed clearly, professionally, and with appropriate recommendations or next steps.
Maintain strong working relationships with Acquisitions, Project Management, Legal, Compliance, Investor Relations, Fund Management, and other NEF departments to respond to underwriting, market, sponsor, regulatory, and portfolio performance issues.
Promote operational discipline and data quality by ensuring portfolio systems, risk ratings, site visit tracking, tenant file review tracking, reporting deliverables, and action items are updated accurately and on schedule.
Identify opportunities to improve asset management processes, strengthen reporting consistency, standardize practices, and support departmental initiatives and special projects.
Support departmental priorities and special projects as assigned by the Managing Director of Asset Management.
Work closely with sponsors, general partners, managing members, property management agents, NEF Workout staff, internal departments, and other relevant stakeholders to respond to project problems and develop appropriate resolution strategies.