Director of Asset Management Position Available In Washington, Tennessee

Job Description:

This position is 100% on-site in Johnson City, TN. Remote orhybrid work arrangements are not available. Beyond the positionitself, this is a great opportunity to enjoy Breathtakingsurroundings – Nestled in the Appalachian Mountains, East Tennesseeis one of the most beautiful parts of the country, offeringstunning landscapes, four-season outdoor activities, and a highquality of life.

UDC offers:

Work-life balance – Less traffic,outdoor recreation, and a great community. Career growth -Leadership opportunity with the ability to shape strategy.

Relocation support – We offer assistance to make the move seamless.

This is a high-impact leadership role where you’d oversee a diverseportfolio, drive asset performance, and play a key role in ourlong-term growth strategy.

Job Summary:

The Director of AssetManagement for UDC will play a critical role in leading andoverseeing the operational functions of the company. This roleoversees the company’s overall performance, including ensuringprofitability targets are established and reviewed and company-wideprocesses and procedures are designed, implemented, and followed.

This position reports to the EVP/COO but works across alldepartments to promote company culture, drive profitability, andsustain growth. This is a management position tasked with buildingpositive working relationships with team members, partners, companyaffiliates, owners, investors, and other stakeholders.

Qualifications:

The position requires proven leadership anddecision-making skills, strong business and strategic planningcapability, excellent communication skills and the ability to applyanalytical, problem-solving, and critical thinking skills in afast-paced, changing, and growing environment. The position alsorequires the ability to motivate and persuade others to driveorganizational change, experience managing across multipledepartments, and the attention to detail required to manage bothprojects and people within established timelines. Skills andknowledge base required focused on all aspects of multi-family andcommercial property management including marketing, accounting,finance, operational management, asset management, informationtechnology, and human resources. Duties & Responsibilities includebut are not limited to:

Asset Management:

Provide leadership andsupport to the Asset Management team including oversight andcreation of annual Asset Management budget and monitoring actualperformance against budget. Assist in refinancing efforts onexisting portfolio properties and securing asset level financingfor new acquisitions and developments, including assisting with duediligence and closing process. Assist in the preparation ofinvestment materials and presentations. Assist in the preparationof pro-forma financial statements and modeling for the portfolioproperties in each of the phases of development, construction, andrefinancing, providing updates to owners, lenders, and investors,as necessary. Track property performance against originalunderwriting projections and make recommendations as needed todevelop and monitor metrics to improve portfolio physical andeconomic occupancy and overall financial performance. Collaboratewith Property Management team to develop strategic plans to achieveboth the financial and investment goals of our owners andinvestors. Collaborate with Property Management team to performregular reviews of portfolio properties and ensure physical aspectsof portfolio meets owner, lender, and investor standards. Assist inthe development and monitoring of compliance programs as needed.

Review and advise on organizational documents, agreements, andcontracts to ensure document accuracy, protection of companyinterests, and legal, tax, and other regulatory compliance. Overseepartner payments including preferred returns, distributions, andcapital repayments and review short term cash flow and creditcapacities and maximize waterfall opportunities. Oversee andimplement refinancing strategies and oversee due diligence forrefinancing of properties with HUD, Fannie Mae, Freddie Mac, lifeinsurance companies and local lenders. Provide ongoing portfolioanalysis and recommendations as needed, including income, expenses,and capital projects.

Collaboration:

Provide guidance related toAsset Management functions across all company departments(including property management, asset management, accounting,finance, marketing, information technology and human resources)across all sister companies to include Universal Tool &Engineering, Universal Wine & Spirits, Universal Storage Solutions,and Universal Building Supplies. Assist in alignment oforganizational and department structures for efficiency andeffectiveness and to support future growth.

Property Management:

Work closely with the Director of Property Management in theoversight of all property management functions for multi-family,commercial, storage, and other business units. Collaborate withProperty Management and Accounting/Finance teams to: Ensuremonthly, quarterly, and annual reporting requirements are met forowners, lenders, investors, and government entities. Assist inannual budget preparation for all portfolio properties andentities. Monitor market rents and make recommendations as needed.

Assist in ensuring all portfolio properties and entities meetdefined financial and operational goals. Stay abreast ofoutstanding operational and management issues across portfolio.

Assist in performing regular reviews of grounds, buildings andproperty and ensure physical aspects of supervised portfolio meetscompany standards. Develop and monitor compliance programs asneeded. Review and understand management agreements and otherrelated documents pertaining to existing and new or proposedprojects and provide input as requested.

Accounting & Finance:

Workclosely with the Director of Accounting & Finance in the oversightof general accounting, budgeting, forecasting, and financialreporting responsibilities ensuring transactions are properlyrecorded, financial reports accurately present results,transactions comply with policies and procedures, and properinternal controls are in place. Assist in driving a culture ofcontinuing improvement across the accounting and finance platformsthrough modernizing, standardizing, and improving processes andefficiencies and maximizing available technology. Assist in theoversight of the integrity of financial reporting and provideaccurate and real-time reporting. Define and provide portfolio keyperformance indicators, statistical data, and trend analysis toproject future performance, identify potential issues and helpdrive improvement. Support the monitoring of changes in the financeand accounting industry to identify and implement functional andoperational changes that align with current best practices andtrends.

Human Resources:

Collaborate with HR to optimizerecruitment, training, compliance, performance management,compensation, and company culture, ensuring strong employeerelations and organizational effectiveness.

Information Technology:

Partner with IT to enhance system efficiency, infrastructuremanagement, and security, supporting technology strategies thatalign with company objectives.

Marketing:

Work with Marketing torefine brand strategy, maximize promotional efforts, and maintainconsistent branding across all platforms, driving business growthand engagement.

Other:

Partner with Director of Risk Management tomitigate risks and exposures for the company and the managedportfolio. Stay abreast of current property management issues andtrends and communicate to senior leadership how they might benefitor impact our portfolio. Special projects or other duties asidentified or requested.

Personal:

Models the UDC mission, vision,and values, promoting the company at all times. Projects aprofessional image in all aspects of work performance, includingpersonal habits, demeanor, appearance, and attire. Meets companystandards and values as outlined in the Employee Handbook.

Demonstrate excellent communication and listening skills and helpsfoster positive communication and teamwork both inside and outsidethe company with coworkers, residents, consultants, lenders,community, agencies, owners, and investors.

Education & Experience:

Education:

Bachelor’s degree in Business Administration,Accounting, or related field; Master’s degree preferred but notrequired.

Experience:

10+ years progressive experience in bothmultifamily property management and asset management to includespecific experience in operational management, finance, crossfunctional team leadership and strategic planning. Capital market,investment, loan, and refinance experience. Development,construction, and lease-up experience. Budgeting, revenuemanagement, and expense control experience. Knowledge of andexperience in the multi-family market in the southeast USpreferred. 5+ years supervisory and/or management experience.

Experience managing relationships with owners, banks, investors,and government partners. Demonstrated integrity and reliabilitywith fiduciary duties. Highly proficient with relevant softwareincluding Investment Management Software, Argus (Real EstateSoftware) and MS Office.

Physical Requirements:

Must be able tolift and carry or otherwise move 25/50 pounds occasionally.

Prolonged periods sitting at a desk and working on a computer.

Ability to travel between properties as required.

Employment Type:

Full Time Years Experience:

5 – 10 years

Bonus/Commission:

No