Vice President, Asset Management

Mercy Housing • Denver, CO

8h • Hybrid

About The Position

Mercy Housing, the nation's largest affordable housing provider, is seeking a Vice President of Asset Management to lead the strategic stewardship of a large, nationwide portfolio of affordable housing assets. This executive will drive investment strategies that maximize long-term financial performance, develop innovative financing solutions, and establish a consistent, organization-wide approach to asset management by leading the transition from a decentralized to a centralized model. The Vice President will also mentor and oversee a team of asset management analysts and managers. This position is eligible for a hybrid work schedule.

Requirements

• Bachelor’s Degree in Finance, Business Administration, or related field.
• Seven (7) years of experience in real estate or asset management.
• Articulate and integrate the mission and the core values of Respect, Justice and Mercy into day-to-day work.
• Hold self and team accountable to fostering and reflecting the core values when working with others and when making business decisions.
• Provide discipline and best practices in portfolio and asset management in line with institutional real estate investment managers, REITS and private equity firms.
• Demonstrated ability to build and manage strategic financial relationships with banking and other financial institutions.
• Flexibility to work in a complex and multi-faceted, matrix organization, and adapt to changes in structure and work priorities.
• Motivate people to superior performance and be a valuable resource to company leaders.
• Demonstrated ability to lead, coach and build a highly motivated and competent staff located in a variety of locations.
• Strong understanding of current technologies for both internal and outsourced approaches to asset management, property management, accounting to direct industry best practices.
• Skilled communicator of financial metrics, benchmarks and process to effect change is partially decentralized operating environment.

Nice To Haves

• Master’s Degree in Finance, Business Administration, or related field.
• Experience in federal housing programs, subsides, tax exempt bond financing and LIHTC.

Responsibilities

• Complete analysis, strategies, measures, risk rating, watch list reporting, and action plans on all properties with additional focus on those that are underperforming.
• Implement and plan the annual asset business planning cycle and ongoing monitoring for each asset in the portfolio.
• Establish and oversee capital improvement plans, site inspections, and photographs.
• Oversee property tax filings and appeals.
• Review, approve, and monitor property budgets and quarterly forecasting of Asset Management Fees, Partnership Management Fees, Development Fees, and Property Fees.
• Review Audits and Cash Flow Calculations to be completed on each asset annually.
• Manage, mentor, and increase the performance of asset management staff located in the GBC office, who report into this position.
• Train, instruct, guide, and mentor the asset managers in the field.
• Create, monitor, and execute Asset Business Plans at the property level through collaboration with the Asset Management, Property Management, and GBC teams.
• Complete the Portfolio Scorecard and collaborate with MHMG during monthly Ops Reviews to drive and improve property performance.
• Oversee reporting and compliance to investors and regulatory agencies.
• Ensure that all reports are submitted on a timely manner for each property/portfolio.
• Collaborate and communicate with all parts of the organization; MHMG, GBCs, and support staff.
• Complete due diligence on new properties and create process to evaluate deals after stabilization and compare to original underwriting to debrief and improve processes.
• Workout, financial restructure, and disposition for an assigned portfolio of assets owned by Mercy Housing.
• Be diligent in recruiting, hiring, and developing.

Benefits

• Several Healthcare plans to choose from, dental (includes adult and child orthodontia) and vision
• 15 days of earned PTO your first year, 12 company holidays + 2 floating holidays.
• 403b + match
• Early close Fridays (3 paid hours each Friday)
• Early close prior to a holiday (3 paid hours)
• Paid Time off between Christmas and New Year's Holiday
• Paid Volunteer Time
• Paid Parental Leave and Care Giver Leave
• Paid Life Insurance
• Free Employee Assistance Plan
• Free Basic Dental
• Pet Insurance options

What This Job Offers

• Job Type: Full-time
• Career Level: Executive