WHY WORK FOR US?
We are mission and values driven and your contributions will make a difference. We make a positive difference in people’s lives and help an average of 23 people per week to find a place to live.
If you join us, you will be able to advocate for change while also working with influential people who effect changes in policy and devote time to issues of racial and social justice. We prioritize your work/life balance and provide various scheduling options in addition to generous time off, health, and wellness benefits and we’re committed to helping you reach your potential by providing opportunities for professional growth across the state.
JR 4348
Director of Asset Management
Los Angeles, CA 90004
Salary: $118,463.00 to $148,079.00 per year
Pay Frequency: 24 Pay Periods Per Year
Full Time
Exempt
Driving Required
PATH Ventures is seeking candidates passionate about helping others make a positive change in their lives to join our Asset Managment team as the Director of Asset Management at the RHC Office.
ABOUT PATH VENTURES
PATH Ventures is a statewide leader in the development of affordable and supportive housing communities. Recognizing that homelessness is fundamentally a housing issue, PATH, one of the largest homeless services providers in California, created PATH Ventures in 2007. Since its creation, PATH Ventures has completed 27 residential projects and is on track to have a total of 44 residential communities in the next several years.
ABOUT THE JOB
As part of the Asset Management team, the Director of Asset Management oversees the comprehensive operations and performance of PV’s property portfolio and manages a team of asset managers. The position is responsible for the day-to-day implementation of policies, procedures, and programs aimed at ensuring the optimal management and maintenance of buildings within the portfolio, and for strategically directing the asset management function as PATH Ventures’ property portfolio grows. Key management functions include financial, compliance, and operational management, with particular focus on maintaining satisfactory occupancy levels and fostering a supportive environment for all residents, providing oversight to third-party management companies, monitoring property cash flow, ensuring compliance with all relevant regulatory agencies and adhering to federal, state, and local laws. In addition this position actively mentors and guides the asset management team.
Position Responsibilities:
- Oversee financial, compliance, and operational management for PV’s portfolio of properties, with the goal of proactively improving performance and minimizing risk.
- Financial management activities to ensure the economic viability of the portfolio include (1) developing annual operating budgets; (2) managing rent revenues and operating expenses to ensure results are within budget, cash flow is positive, and areas for improvement are recognized; (3) reporting financial performance to senior management, highlighting wins, challenges and solutions; (4) recommending strategies to optimize financial outcomes at significant property milestones including Year 15 exit strategies; (5) managing project and partnership contractual risks; (6) creating financial reporting for lenders and investors; and (7) collaborating with project development teams on new project financials.
- Compliance management activities to ensure regulatory adherence include (1) monitoring federal, state, and local PATH Ventures is an laws and requirements, agency regulatory agreements, loan documents, and partnership/investor agreements to ensure compliance with all reporting requirements especially for LIHTC properties; (2) submitting all required regulatory documentation including welfare tax exemptions; (3) participating in property audits and reviews; (4) monitoring property compliance with fair housing laws to prevent discrimination; (5) monitoring tenant compliance with eligibility requirements and payment of regulated rent amounts; and (6) conducting regular property inspections for habitability, accessibility, maintenance, and safety.
- Operational management activities to ensure safe, well-maintained, and sustainable housing include (1) working closely with third-party site services and property management personnel to address and resolve tenant and property issues; (2) negotiating and monitoring vendor contracts; (3) performing regular site visits; (4) assisting with tenant selection to ensure program criteria are met; (5) implementing cost saving initiatives and pursuing grants, rebates, and subsidies for property improvements; (6) implementing sustainability practices including energy-efficient initiatives; and (7) overseeing replacement reserve usage.
- Provide guidance and mentorship to the asset management team, fostering professional development.
- Collaborate with senior management on strategic initiatives and contribute to the overall success of the organization.
- Must demonstrate a commitment to diversity, equity, and inclusion through inclusive service delivery, continued learning and development, modeling inclusive behaviors, contributing to an inclusive work environment, proactively mitigating bias in internal and external systems as well as interactions with internal and external stakeholders.
- Perform all other duties as assigned or required.
WHAT YOU BRING
We’re looking for candidates with:
- Analytical Skills and Attention to Detail: Gather and interpret data, identifying trends, patterns, and insights to inform decision-making. Ability to consistently produce high-quality work, ensuring accuracy and precision in all tasks.
- Collaboration and Teamwork: Work effectively with others, seeking out and building positive working relationships with colleagues, participants, and stakeholders. Work effectively with others, contributing to team goals and recognizing the strengths and contributions of others.
- Communication: Convey information clearly and effectively (both verbally and in writing) to individuals and groups in a manner that informs, engages and maintains their attention.
- Creativity and Initiative: Take action and make decisions without being prompted, demonstrating a proactive approach to work and a willingness to take on additional responsibilities. Think outside the box, generating innovative solutions to problems or challenges.
- Critical Thinking and Problem Solving: Analyze and evaluate information and situations, identify key issues, consider alternatives, and make logical decisions based on sound reasoning that will achieve the desired outcome.
- Ethics and Boundaries: Maintain ethical and professional standards, demonstrating honesty, integrity, and a commitment to doing the right thing in all situations while maintaining professional boundaries.
PREFERRED QUALIFICATIONS
- Bachelor’s Degree with a concentration in real estate, finance, business, or a related field
MINIMUM QUALIFICATIONS
To be considered for this position, we require all candidates:
- Five (5) years of progressive asset management experience, at least two (2) of which are in affordable housing, permanent supportive housing, or multi-family housing
- Two (2) years of supervisory experience.
- Or an equivalent combination of education and experience
MANDATORY REQUIREMENTS
Regardless of qualifications, candidates must:
- Have employment eligibility verification
- Have or be able and willing to obtain CPR/First Aid training
- Successfully complete the following as a condition of hire:
- Tuberculosis Test
- Background Screening
- Drug Test
DRIVING
Driving is an essential function of this position. To meet the employment requirements for this role, all candidates must:
- Have reliable transportation
- A valid driver’s license
- Proof of insurance and ownership for personal vehicles used during work duties
- The ability to qualify for PATH’s insurance coverage
EMPLOYMENT ELIGIBILITY
Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa.
FLEXIBLE WORK
We are a California employer. Therefore, all regular and customary work must be performed within the state. Approval for work outside of the office, does not establish approval for work to be conducted outside of California.
WHAT WE OFFER
In addition to a rewarding work environment, we offer our employees a competitive benefits package that includes medical, dental and vision coverage, vacation and sick time, paid holidays, and a retirement plan.
READY TO MAKE A DIFFERENCE THROUGH ACTION?
If this position sounds like a fit, please submit your application today. A resume is required.
PATH provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability or genetics. In addition to federal law requirements, PATH complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.
PATH will consider for employment all qualified Applicants, including those with Criminal Histories, in a manner consistent with the requirements of applicable state and local laws, including the City of Los Angeles’ Fair Chance Initiative for Hiring Ordinance.
PATH is dedicated to racial and social justice by centering equity in our service delivery and maintaining a diverse and inclusive work environment for the communities we serve. We seek awareness and insight from witnessing the stories of our clients and learning from the experiences of our staff to ensure impactful systems change. If people are empowered, they can bring their authentic, whole selves to work and when people feel like they belong, they can become part of a unified effort of ending homelessness for all.
