Director of Asset Management

Job Summary:

National Trust Community Investment Corporation (NTCIC) seeks a Director of Asset Management to oversee NTCIC’s historic and new markets tax credit portfolio and provide enhanced organizational and systems support, including managing tax credit portfolio data and financial performance, as well as overseeing portfolio management systems, processes, and compliance.

Duties:
  • Oversee and assist Senior Asset Managers and Asset Managers with each of their respective portfolios through the life cycle of each deal, from closing through construction, and the delivery of credits at placement in service, lease-up, stabilized operations, and exit
  • Develop an depth understanding of NTCIC’s existing project and asset management processes, investor requirements, and project-related deliverables
  • Act as a liaison between NTCIC and investor asset management departments
  • Lead investor monthly and quarterly reporting process, including monitoring construction, overall operations as compared to projections, and collection of updated insurance and property tax information
  • Conduct and advise the work of Asset Managers on investor equity pay-ins, coordinating as necessary with investors and NTCIC Accounting
  • Coordinate the annual collection of priority returns and/or residual cash flow distributions with the developer, investor, and NTCIC’s Accounting Department, if applicable
  • Regularly review and analyze the performance of investor returns, including benefit schedules to identify issues, trends, and potential opportunities
  • Manage the annual site visit calendar, conduct periodic site visits, and oversee the site visits of the respective asset managers
  • Oversee the investment Watch List process and assist Senior Asset Managers and Asset Managers as necessary to work through deal complexities, including construction issues, cost overruns, capital stack imbalances, guarantee obligations, operational issues, and refinance requests
  • Coordinate the annual financial statement and tax return collection process, which also includes the Accounting Department
  • Review and periodically update asset management policies and procedures
  • Maintain all electronic and paper information filing systems, including closing binders, project files, the asset management database, reports, and tickler systems
  • Coordinate joint work and maintain positive working relationships with other NTCIC Departments
  • Assist acquisitions staff as necessary in negotiating pay-in benchmarks and property reporting requirements, evaluating property insurance coverages, assessing environmental reports, and resolving construction-related issues
  • Lead the Asset Management team to assist with new markets tax credit compliance, including the collection of necessary documentation needed to derive the “substantially all” tests, CDE compliance, collection and submission of data in AMIS and other CDFI annual reports, QEI reporting, and QLICI documentation
  • Provide assistance with reporting to the NTCIC Board on the status and condition of NTCIC’s portfolio
  • Oversee the hiring and work planning process for the Director’s direct reports in Asset Management and evaluate staff performance, and make recommendations for bonuses, salary increases, and promotions
Qualifications:
  • Master’s degree in business, finance, or real estate (or equivalent) or more than 10 years of experience in complex urban subsidized housing and commercial real estate finance, including at least 7 years of real estate investment analysis/underwriting experience
  • Strong real estate experience and knowledge, including financial statement analysis, general accounting, construction and rehabilitation process, property management, and compliance with LLC operating provisions related to financing reporting, funding benchmarks, tax credit regulations, and other regulatory requirements
  • Experience and technical knowledge of historic and new markets tax credits
  • Excellent interpersonal and leadership skills
  • Proven ability to manage and motivate other members of a growing team in a fast-paced environment
  • Outstanding organizational and time management skills
  • Strong analytical skills and attention to detail, including the ability to recognize, assess and mitigate risk
  • Proficiency in word processing, spreadsheet, database, and presentation software
  • Excellent writing skills required
  • Great communication and presentation skills
  • Ability and willingness to travel periodically

Pay & Benefits:

Hiring Range:  $165,000 – $175,000 per year

This is a full-time, exempt-level position, eligible for full benefits, including health, dental and life insurance, retirement benefits, and 3+ weeks of vacation, plus sick time and holidays. Remote candidates from US locations will be considered.

NTCIC is an affiliate of the National Trust for Historic Preservation, the nation’s leading advocacy network for historic preservation. The National Trust and its subsidiaries require all staff to show proof of COVID-19 vaccinations and boosters (with limited exceptions for religious or medical reasons).

National Trust Community Investment Corporation is an equal opportunity organization and does not discriminate on the basis of race, color, religion, national origin, sex, age, sexual orientation, veteran status, or disability.  NTCIC actively seeks opportunities to include members of these groups in its programs and activities.

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