Regional Vice President of Operations (Affordable HUD/LIHTC)

Cornerstone Residential•Salt Lake, UT

7d•Hybrid

About The Position

Cornerstone Residential is a property management company focused on exceptional service and maximizing revenue for partners. They manage over 23,000 housing units across 229 communities in the western and mid-United States. The company emphasizes resident and employee satisfaction to maintain high occupancy and community loyalty, creating welcoming living environments and driving income growth for property owners. The Regional Vice President of Operations is a strategic leader responsible for the oversight, performance, and operational success of a property portfolio within a region. This role drives financial results, ensures compliance with company standards, leads regional teams, and fosters a culture of excellence. The position involves supervising regional teams and Property Managers, with direct oversight of select properties. The Regional Vice President serves as a liaison between site teams, corporate leadership, and ownership groups to ensure efficient and profitable execution of the company's mission. Experience with Affordable Housing, LIHTC Section 42, and HUD is required.

Requirements

Minimum 5 years of progressive multi-family property management experience, including prior Regional Manager or equivalent leadership experience.
Minimum 4 years of experience in LIHTC, HUD, and Affordable multi-family property management.
Affordable Housing Accreditation
Working knowledge of RealPage or other property management software.
Proven success in managing multi-state or large-scale portfolios.
Strong financial acumen and experience managing large operating budgets.
Excellent communication, negotiation, and presentation skills.
Valid driver’s license, reliable transportation, and ability to travel up to 75%.

Nice To Haves

Preferred Bachelor’s degree in Business Administration, Real Estate, or related field.
Professional certifications such as CPM, CAPS, or ARM.
Bilingual or multilingual abilities.

Responsibilities

Lead, mentor, and develop Regional Managers and site-level teams to ensure alignment with company objectives.
Implement operational strategies and initiatives that support the company’s growth and profitability goals.
Foster a culture of accountability, collaboration, and continuous improvement.
Ensure all regional teams adhere to corporate policies, operational procedures, and ethical standards.
Oversee financial performance for assigned portfolio, ensuring achievement of NOI, occupancy, and expense control goals.
Review and approve annual budgets, forecasts, and capital improvement plans for all managed assets.
Analyze financial statements, variances, and performance indicators to identify trends and improvement opportunities.
Approve expenditures within authorized limits and ensure fiscal discipline across all operations.
Ensure consistent operational excellence across all communities, including maintenance standards, marketing, resident retention, and compliance.
Conduct periodic property inspections and audits to ensure compliance with company standards and regulatory guidelines.
Oversee and review maintenance operations, capital projects, and preventive maintenance programs.
Ensure safety, curb appeal, and asset preservation meet or exceed company expectations.
Maintain strong, proactive relationships with ownership groups and investors.
Communicate performance updates, financial outcomes, and strategic recommendations regularly.
Secure new management opportunities and assist in the development of proposals and presentations for potential clients.
Collaborate with ownership on major capital expenditures, repositioning plans, or disposition strategies.
Recruit, train, and retain top-performing regional and property management professionals.
Oversee performance evaluations, promotions, and professional development plans for regional team members.
Partner with Human Resources to address employee relations, staffing, and compliance matters.
Promote a culture of integrity, inclusion, and professional growth throughout the region.
Ensure adherence to all federal, state, and local housing regulations, including LIHTC, HUD, and Fair Housing requirements.
Review all required financial and operational reports for accuracy and timeliness.
Maintain open communication with corporate departments, ensuring alignment and timely response to business needs.
Oversee risk management initiatives, including insurance claims, safety compliance, and incident resolution.
Evaluate market trends and competitive positioning for all communities within the region.
Approve marketing strategies, pricing recommendations, and occupancy initiatives.
Ensure consistent branding, customer service, and reputation management standards.
Identify emerging market opportunities and risks to inform company strategy.
Participate in company-wide initiatives, leadership meetings, and strategic planning sessions.
Perform other duties as assigned to support corporate goals and operational success.