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CAHEC · 2 months ago

Director, Transitional Asset Management

Raleigh, NC

Full-time

Hybrid

Lead/Staff, Director/Executive

5+ years exp

CAHEC is a community investment organization focused on providing affordable housing and supportive service initiatives. The Director of Transitional Asset Management will lead a team overseeing the development period of investments, ensuring effective management and compliance throughout the process.

Real Estate

Responsibilities

Manage and coordinate the day-to-day operations of a Transitional Asset Management team, which includes direct supervision of assigned department staff. Plan the need for staff, monitor progress toward objectives and goals, set priorities, and establish deadlines. Ensure team members are meeting required timelines, performance benchmarks and department goals

Assist department VP in the development and implementation of strategic departmental goals, policies and procedures, and in the preparation and review of the departmental budget

Oversee and monitor the achievement of benchmarks for each investment in the portfolio, including construction completion, initial lease-up and tax credit delivery, stabilization, permanent loan conversion, and receipt of executed 8609s, with assistance from Transitional Asset Management staff

Review the status of each development-stage investment with the Transitional Asset Management Team at least monthly, communicating any issues that threaten the viability or underwritten performance of the investment to internal constituents and provide recommendations for addressing these risks

Work with general partners, management agents, and internal CAHEC staff as needed to develop solutions for those assets displaying signs of weakness and/or increased investor risk, and place assets on CAHEC’s monitoring list as warranted

Build and foster collaborative relationships with other CAHEC departments to promote effective professional communication, cooperation, and to stay abreast of new initiatives and services so that all efforts are coordinated, and problems addressed and resolved in a consistent, proactive, timely and positive manner

Qualification

LIHTC program knowledgeCommercial real estate financingTax credit complianceConstruction managementAsset managementSupervisory skillsOperational planningBudgeting skillsNegotiation skills

Required

Bachelor's degree in real estate, finance, business, city planning, or economics; or an equivalent combination of education and comparable work experience

Minimum five (5) years progressively responsible work experience relevant to affordable housing tax credit development, underwriting, investment modeling, construction lending, finance, and/or asset management

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

Comprehensive knowledge of commercial real estate development and financing, including specific requirements for low-income housing tax credits

Knowledge of partnership legal and taxation issues relevant to low-income housing tax credits

Ability to manage the tax delivery process, including the review of cost certifications, 8609s, and equity adjustment calculations

Proven ability to negotiate complex issues tactfully

Proven ability to manage multiple, concurrent priorities and easily adapt to constantly changing priorities to meet established timetables

Proven ability to supervise multiple direct reports including training, coaching, and performance management