Community Affordable Housing Equity Corporation (CAHEC) is currently seeking candidates for a VP, Asset Management. CAHEC is a non-profit tax-credit syndicator based in Raleigh, NC, with the mission to provide communities affordable housing and opportunities for growth and revitalization by investing in qualified tax credit products throughout the southeast and mid-Atlantic region.
The Vice President, Asset Management is a member of the senior management team and participates in companywide strategic planning, business development, policy formulation, budgeting and corporate administrative functions. The position leads Asset Management and is accountable for the financial performance of CAHEC’s investment portfolio and the department. The Vice President, Asset Management is responsible for the (i) leadership, coaching, and development of Asset Management department staff, (ii) partnership administration, operational performance, and compliance of CAHEC’s investment portfolio, and (iii) provision of industry leadership, vision, and resources necessary to maintain the department’s strategic competitive advantage.
Some specific functions include, but are not limited to, the following:
- Lead the day-to-day operations of the Asset Management Department which includes direct supervision, training and coaching of department managers, and other assigned department staff. Create leadership at every level by building a strong, deep bench below the functional leaders and promote a culture of accountability focused on CAHEC’s Principles and Values.
- Establish overarching annual corporate goals, three-year objectives, and aggressive departmental goals that support CAHEC’s bedrock goals. Frequently review actual performance, and champion the merits of all goals by leading a culture that values metrics and demonstrates a strong results orientation.
- Act as a fiduciary for CAHEC’s investor partners and oversee the implementation of portfolio partnership requirements including property site visits, asset compliance, and all reporting.
- Serve as knowledge expert, while coaching and leading staff, throughout the processes of adding and disposing portfolio investments.
- Ensure accurate and timely monitoring and reporting of investment performance including the impact of any instances where the continuing compliance and delivery of tax credits may be jeopardized.
- Oversee all aspects for identifying and reporting out of compliance portfolio assets using performance risk ratings and oversee strategies for resolving asset underperformance.
- Establish and maintain relationships with developers, investors, allocating agency staff, consultants, and other participants in the affordable housing industry throughout CAHEC’s geographic area of operations.
- Represent CAHEC as a thought leader by participating in industry events and serving as an asset management subject matter expert.
Bachelor’s degree in a related field such as real estate, management, finance, business, accounting, or city planning. Or, an equivalent combination of education and comparable work experience.
Minimum six (6) years progressively responsible leadership experience within a senior level management team which includes the management functions of supervising and coaching multiple direct reports, performance management, strategic planning, and budgeting.
Minimum ten (10) years progressively responsible experience relevant to multifamily real estate investment performance, portfolio management, and problem resolution.
Knowledge, Skills, and Abilities
Successful applicants must have a proven ability to directly manage and lead a team, oversee a portfolio of real estate assets and identify and implement corrective actions for non-conforming assets. Applicants must possess comprehensive knowledge of Section 42 of the Internal Revenue Code, HUD programs, accounting and financing of real estate assets, and property management techniques and functions. Applicants must also have excellent communication and organizational skills and the ability to develop and formally document complex processes.
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 15% of this position. Certain objectives require working on-site at various locations, or properties, within CAHEC’s investment portfolio. Some professional training opportunities and attending industry conferences may also require travel.
Compensation and Benefits: CAHEC is an equal-opportunity employer that offers a competitive compensation and benefits package.
For more information and how to apply: please visit www.cahec.com.