The Manager, Asset Management leads a fast-paced diverse team responsible for a growing LIHTC (Low Income Housing Tax Credit) portfolio. The position guides a group of asset managers in monitoring and reporting portfolio risks and responds to investor and Board inquiries. The Manager, Asset Management plays a significant role in the leadership of the organization. The employment classification for this position is exempt.
Some specific functions include:
Manage the day-to-day operations of an Asset Management team, which includes direct supervision of assigned department staff. Create departmental staffing plans and monitor progress toward objectives and goals, set priorities, and establish deadlines.
Monitor and track portfolio performance trends. Benchmark portfolio performance against industry results and help partners optimize asset performance. Perform portfolio-wide trend analyses and assist in the preparation and presentation of reporting packages for CAHEC’s senior management, board, and external parties.
Oversee, coach, and mentor assigned asset managers to identify and address operational, physical, financial, and compliance risks within their portfolios.
Guide the management of aging assets by assigned Asset Managers in collaboration with other CAHEC departments to determine optimal exit strategies and timing.
Bachelor’s Degree in business management, business administration, accounting, finance, real estate; or an equivalent combination of education and comparable work experience. Master’s Degree a plus.
Work Experience Requirements
Minimum five (5) years progressively responsible work experience relevant to multi-family residential real estate which includes physical site inspections and the review and interpretation of property financial statements.
Minimum two (2) years progressively responsible work experience relevant to the management functions of supervising and coaching direct reports, operational planning, and budgeting.
Comprehensive knowledge of the LIHTC program and HUD’s multifamily housing programs is required, along with a general knowledge of the Fair Housing Amendments Act of 1988, Americans with Disabilities Act, and Section 504 of the Rehabilitation Act of 1974.
Knowledge of basic accounting and financing processes and procedures.
This position is based out of CAHEC’s corporate office in Raleigh, NC. Travel, typically by either commercial airline or automobile, is required for at least 10% of this position. Certain objectives require working on-site at various locations, such as properties in CAHEC’s investment portfolio, and some professional training opportunities may also require travel.
About Community Affordable Housing Equity Corporation
Created in 1992, CAHEC ranks as one of the largest nonprofit regional equity syndicators in the United States. Its territory has moved beyond North Carolina’s borders to encompass the Southeast and mid-Atlantic states, plus the District of Columbia. CAHEC has expanded its core business from an exclusive focus on raising capital for investment in qualified low-income housing tax credit developments to include a variety of tax-credit preservation and revitalization projects. In addition, CAHEC grants capital through its innovative Community Investments to provide residents of CAHEC-sponsored properties with economic, educational, and enrichment opportunities.