Vice President of Asset Management, Affordable Housing

Hirewell; Chicago (IL); On-site; USD 180,000 - 260,000; Full time

Job summary

Hirewell is seeking a Vice President of Asset Management – Affordable Housing to lead portfolio strategy and financial performance across a multifamily asset base in Chicago. The role partners with regional operations to improve occupancy, collections, and overall efficiency while directing annual plans and capital initiatives.

Leaders with 10+ years in asset management and 5+ years in affordable housing, familiar with LIHTC, HUD, and related financing structures, will drive value through

Qualifications

• 10+ years in asset management, multifamily operations, investments, or real estate finance.
• 5+ years leading teams within affordable housing.
• Strong knowledge of LIHTC, HUD, Section 8, HOME, USDA, and state housing regs.

Responsibilities

• Develop and execute portfolio-wide asset management strategies to maximize performance.
• Oversee annual plans, budgets, and capital planning for assets.
• Monitor financials via budgets, forecasts, KPIs and variance analyses.
• Lead programs to improve occupancy, collections, and operating efficiency.
• Identify value creation through redevelopment, recapitalization, and improvements.
• Manage lender, investor, and ownership reporting and relationships.

Skills

Leadership

Financial analysis

Asset management

Portfolio management

Regulatory compliance

Communication

Strategic planning

Education

Bachelor's degree in Finance/Real Estate/Business

MBA or Master's degree preferred

Tools

Yardi

MRI

Argus

Excel

Job description

Vice President of Asset Management – Affordable Housing

Key Responsibilities

• Develop and execute portfolio-wide asset management strategies that maximize financial performance while supporting long-term ownership objectives
• Lead all aspects of asset performance, including revenue growth, expense management, capital planning, refinancing opportunities, and disposition strategies
• Monitor portfolio financial performance through regular review of budgets, forecasts, operating statements, KPIs, and variance analyses
• Partner with Regional Operations leadership to improve occupancy, collections, resident retention, expense controls, and overall operational performance
• Oversee annual business plans and operating budgets for each asset
• Identify value creation opportunities through repositioning, redevelopment, recapitalization, and operational improvements
• Lead capital expenditure planning and oversee execution of major renovation and preservation initiatives
• Evaluate acquisition opportunities and provide asset management support during due diligence and post-closing integration
• Manage lender, investor, and ownership reporting while maintaining strong relationships with financial partners
• Ensure compliance with all affordable housing programs, including LIHTC, HUD, Section 8, HOME, USDA Rural Development, and state/local housing regulations
• Work cross-functionally with Development and Acquisitions teams throughout the development and stabilization process
• Present portfolio performance, investment recommendations, and strategic initiatives to executive leadership and ownership
• Develop, mentor, and lead a high-performing asset management team

Qualifications

• Bachelor's degree in Finance, Real Estate, Business, Economics, or related field required; MBA or Master's degree preferred
• 10+ years of progressive experience in asset management, multifamily operations, investments, or real estate finance
• 5+ years of leadership experience managing teams within affordable housing
• Extensive knowledge of affordable housing programs, including: Low-Income Housing Tax Credit (LIHTC)HUD and Project-Based Section 8HO
• Strong understanding of affordable housing compliance, regulatory agreements, and financing structure
• Experience managing institutional or large-scale affordable housing portfolios
• Proven success improving NOI, occupancy, asset value, and investment returns