Vice President Asset Management

Cobalt Recruitment; Seattle (WA); Remote; USD 140,000 - 160,000; Full time

Job summary

An established industry player is seeking an Assistant Vice President of Asset Management to drive strategic initiatives in the affordable housing sector. This pivotal role involves developing asset management strategies, overseeing financial performance, and ensuring compliance with regulatory standards. The ideal candidate will leverage over seven years of experience in asset management, possess strong financial modeling skills, and demonstrate a commitment to enhancing community partnerships. Join a forward-thinking company that values collaboration and innovation in the real estate market.

Benefits

Medical Insurance

Vision Insurance

401(k)

Qualifications

• 7+ years in Asset Management or Property Management.
• Experience in affordable housing and LIHTC transactions.

Responsibilities

• Implement asset management strategies for affordable housing portfolio.
• Prepare and present reports on asset performance and risk assessment.

Skills

Financial Analysis

Asset Management

Relationship Building

Risk Management

Compliance Tracking

Education

Bachelor’s Degree in Business Administration

Bachelor’s Degree in Finance

Bachelor’s Degree in Real Estate Development

Tools

Yardi

Business Intelligence Programs

MS Suite

Job description

Direct message the job poster from Cobalt Recruitment

Compensation: $140,000 - $160,000 Base Salary + Bonus + Benefits

Location: Remote (Seattle - LIHTC)

The Assistant Vice President, Asset Management position has arisen with a renowned real estate firm instrumental in the affordable and LIHTC housing space. This business-critical role is pivotal in value creation and result reporting throughout the entire life cycle of properties, from stabilization to disposition. The AVP will collaborate cross-functionally with property management, finance, and development teams, and support executive leadership in shaping the organization's real estate investment strategy.

About the Assistant Vice President, Asset Management role:

Key Responsibilities

1. Business Plan Implementation: Develop and implement asset management strategies for the company's affordable housing portfolio and participate in strategic planning and overall direction of the portfolio. Monthly, quarterly, and annual reporting that includes property financial performance, fund level financial projections, and portfolio valuations.
2. Relationship-Building: Maintain collaborative and productive relationships with investment partners, community partners, public agencies, property management, and other industry professionals.
3. Financial Management: Oversee performance analysis, financial modeling, capital planning, and compliance tracking to ensure portfolio health and mission alignment. Monitor property operating performance, financial trends, and capital needs, identifying opportunities to enhance cash flow and asset value.
4. Transition Management: Review and inform the initial underwriting of both acquisition and development deals in preparation for Investment Committee and ensure a clear and seamless transition from acquisitions / development into Asset Management.
5. Cross Function: Collaborate with other departments to ensure a cohesive approach to the company's financial management and alignment with long-term objectives.
6. Reporting System: Prepare and present regular reports on asset performance, valuation, and risk assessment to owners, the executive team, and other stakeholders.
7. Compliance: Ensure ongoing compliance with all regulatory, investor, and lender requirements, including LIHTC, HUD, and local housing authority guidelines.
8. Risk Management: Implement risk management strategies to minimize potential losses and maximize returns.

The Person:

• Must have experience working in affordable housing
• Minimum 7 years of experience in Asset Management, Property Management, or Real Estate
• Bachelor’s degree in business administration, finance, real estate development, or a related field
• Strong financial analysis and modeling skills
• Experience with affordable housing transactions, LIHTC, HUD – Seattle specific
• Proficiency in Yardi / Business intelligence programs and MS Suite

Seniority level

• Director

Employment type

• Full-time

Job function

• Management

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Additional Inferred Benefits

Medical insurance, Vision insurance, 401(k)