Maryland Economic Development Corporation · 3 days ago
Vice President Asset Operations and Compliance Management
Baltimore, MD
Full-time
Hybrid
Senior Level, Lead/Staff
10+ years expMaryland Economic Development Corporation (MEDCO) is dedicated to enhancing the economic competitiveness of Maryland. The Vice President of Asset Operations and Compliance Management oversees asset operations and compliance for MEDCO-owned assets, manages a team, and collaborates with other departments to ensure effective project workflow and compliance with regulations.
Business DevelopmentFinanceFinancial ServicesNon Profit
Responsibilities
Ensure compliance with financial covenants and insurance requirements, relevant laws, regulations, MEDCO policy and funding requirements, using the existing MEDCO database while developing supplemental tools and resources
Ensures timely delivery of approved budgets, quarterly financial statements as well as audited annual financial statements, and engineering and consulting reports
Resolves issues related to project compliance, overseeing the coordination between internal asset and compliance management, external project partners, and, when needed legal resources
Coordinates with direct reports and with external project managers to manage and implement project-related policies and procedures, modifying as needed
Manages team members who administer MEDCOs Post Issuance Tax Compliance requirements, Electronic Municipal Market Access (EMMA), and Electronic Maryland Intergovernmental Review and Coordination (EMIRC) efforts
Reviews project closing documents to identify project-related requirements and expectations. Confirms accuracy of project information that is uploaded into the operational database. Generates and reviews project requirements to ensure compliance on a (quarterly/biannual) basis
Manages and updates lease agreements, ensuring compliance with legal requirements. Reviews lease terms, represents MEDCO in negotiations, and ensures that all parties involved fulfill their legal obligations
Manages contract agreements with vendors, service providers, and tenants, ensuring that contracts are properly drafted, executed, and performed
Partners with property managers to stay informed about local, state, and federal regulations governing real estate operations. This includes zoning laws, building codes, fair housing regulations, environmental regulations, and more. Ensure that all properties adhere to these regulations to prevent any legal complications
Ensures the management of MEDCO-owned projects by fulfilling bond document requirements in accordance with best business practices
Develops and monitors project budgets, coordinating with the property manager and the project partner on the development and approval of the operating budget and the capital expenditure budget, reviewing variance, coverage ratios and additional factors
Conducts asset operations performance evaluation of property management. On a regular cadence and frequency, reviews information submitted by property managers, scheduling in-person reviews
Establishes and maintains relationships with project site staff, partners and vendors
Conducts vendor selection process and negotiate contracts to complete work as required including but not limited to reoccurring preventative maintenance, communication systems, system monitoring, testing, landscaping, and cleaning services
Coordinates efforts at the end of the project to ensure closure with MEDCO’s involvement
Coordinates with Vice Presidents within the Project Workflow in reviewing project closing documents to provide input and feedback for Asset Operations Management
Calculates and reviews Management Fees per management agreements. Reviews each asset’s management agreement and trust indenture to determine the source and the prioritization of funds to pay the management fees
Manage process of payments (management fees, repair and replace etc) through submission of issuer orders for transmission to the trustee
Conducts 3rd Party Manger performance evaluations, evaluating the performance of the 3rd Party Managers to determine quality of their performance and to recommend next steps, if needed. Reviews 3rd Party Manager performance with MEDCO leadership. Provides enforcement options for failure-to-perform for consideration as listed in the applicable Management agreement
Coordinates construction project completion handoff to manager for operations, ensuring the smooth transition of work with property manager from construction phase to asset operations management
Conducts reviews of Project Maintenance, routinely meeting with 3rd- party managers to review their work on maintenance, inspections, establishment and use of maintenance contracts etc
Conducts Stakeholder (Beneficiary) Management, establishing a routine meeting cadence with project beneficiaries to obtain their feedback on the management of their facility, their relationship with the 3rd party manager, and their relationship with MEDCO
Responsible for the management of the organization's corporate insurance policies and insurance policies related to projects, ensuring adequate coverage for potential risks
Collaborate with Real Estate Development and Construction to successfully transition projects from construction to Asset Operations and Compliance Management
In the lead time prior to the transition of the project from Real Estate Development and Construction: Coordinate to gain understanding of construction components of the building (hvac, utilities, etc), Develop effective working relationship with the general contractor as well as with the owner, Review and procure the services of a Project Manager for the project
Ensures alignment of team to MEDCO mission and organizational goals
Directs the planning, development, implementation, budgeting, maintenance and support of all department or unit functions
Performs Workflow prioritization and assessment of work level capacity
Routinely meets with the team to discuss work, align priorities and expectations, troubleshoot problems, share information, and to build collaboration within the team
Liasons with the leadership team
Proactively contributes to interdivisonal collaboration, especially within Project Workflow
Recruits, hires, trains, supervises, mentors, evaluates and develops assigned employees according to MEDCO’s policies and procedures, ensuring the overall smooth functioning of the department
Develops and provides Board communication/presentations
Qualification
Required
Bachelor's degree in Business or related field
10+ years of experience in the following areas: progressively responsible experience in asset operations and management, compliance management, budgeting
Excellent verbal and written communication skills
Strong organizational and planning skills and attention to detail, with ability to anticipate, initiate, and advance multiple priorities and projects concurrently
Demonstrated software and network project management experience
Software proficiency including but not limited to: Advanced proficiency in Microsoft Word, Excel, SharePoint, PowerPoint and Outlook, Video Conferencing (to conduct meetings and events via Teams, Zoom, or other video conferencing technology)
Preferred
Master's degree
Company
Maryland Economic Development Corporation
Maryland Economic Development Corporation offers finance, real estate development, and bond issuance services.
11-50 employees
Funding
Current Stage
Early StageTotal Funding
$2.5M2023-02-17Grant· $2.5M
Leadership Team
Sarah Horta M.P.S., Cybersecurity, MCFE
Director of Innovation & Strategic Partnerships
Recent News
Maryland Daily Record
2025-11-20
Business – Baltimore Sun
2025-05-29
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