Associate Asset Manager - Senior Living

Overview

The Associate Asset Manager, Senior Living, will be a key member of the Senior Living Asset Management team, providing financial, operational, and analytical support for a nationwide senior housing operating portfolio (SHOP) of senior living communities managed by third-party operators. The Associate Asset Manager will support the team’s objective of maximizing asset value and investment performance through active monitoring of community operations, financial performance, labor, capital investment, market trends, and operator execution. 

The position will work closely with Senior Living Asset Managers and operating partners to evaluate community performance, identify operational and financial trends, and develop actionable recommendations to grow revenue, manage labor and operating costs, increase net operating income, and enhance overall asset value. Responsibilities will include analyzing financial results and forecasts, monitoring occupancy, revenue, and labor performance, evaluating operating expenses and capital investment, conducting market and competitive analysis, and supporting annual budgets and business planning. 

The Associate Asset Manager will also support acquisitions, dispositions, operator transitions, capital investments, and other strategic initiatives. The position is intended to develop broad knowledge of senior living operations and real estate investment while progressively assuming greater responsibility for assigned assets and operator relationships. 

Responsibilities

Portfolio Performance & Financial Analysis 

• Analyze monthly community financial statements and operating reports, including revenue, labor and other operating expenses, NOI, cash flow, and capital expenditures, to assess performance against budget, prior year, and market benchmarks.
• Support the development, review, and monitoring of annual operator budgets, periodic reforecasts, and short-term and long-term business plans for assigned communities. 
• Review community forecasts and evaluate underlying assumptions related to occupancy, rate, revenue, labor, operating expenses, capital investment, and net operating income. 
• Monitor labor performance, including labor cost and hours per occupied unit, and agency/contract labor usage, and assist in evaluating operator staffing models and wage positioning.
• Track state survey results, licensure status, resident and family satisfaction, and risk and incident trends for assigned communities.
• Assist in monitoring operator compliance with management agreements, including performance tests, management and incentive fee calculations, and reporting requirements.
• Participate in regular performance review meetings with operators and prepare summaries of findings, action items, and follow-up.
• Conduct financial modeling, sensitivity analysis, and scenario analysis to support asset management decisions. 
• Assist with community valuation analysis and annual business plan preparation. 
• Evaluate the financial impact and expected return associated with proposed operational initiatives, capital projects, and other asset strategies. 
• Ensure accurate and timely preparation of recurring monthly, quarterly, and annual reporting. 
• Document, organize, and maintain current knowledge of the strategy, performance, risks, opportunities, and key initiatives for assigned assets. 

Revenue, Sales, Marketing & Market Analysis 

• Monitor occupancy, rate growth, RevPOR, move-ins, move-outs, lead generation, lead-to-tour and tour-to-move-in conversion, and other relevant sales and marketing performance indicators. 
• Assist in evaluating operator pricing, rate increases, care-level billing, revenue management, sales, and marketing strategies and their impact on community performance. 
• Conduct market research to assess demographic trends, competitive supply, market positioning, pricing, and other factors affecting community performance. 
• Benchmark community performance against relevant competitors, NIC MAP and other market data, historical results, budgets, and internal portfolio benchmarks. 
• Identify market or competitive trends that pose risks or opportunities for assigned communities. 

Capital Planning & Reporting 

• Assist in reviewing capital expenditures, renovations, and other asset improvement initiatives. 
• Evaluate capital requirements in the context of community operating performance, competitive positioning, asset condition, and expected investment returns. 
• Track approved capital projects, expenditures, schedules, and expected financial benefits, including returns after completion. 
• Participate in community site visits to assess physical condition, competitive positioning, operational execution, and opportunities to enhance performance and asset value. 
• Coordinate with internal teams and operating partners regarding capital planning, renovations, reporting, and related analyses. 
• Assist in preparing portfolio performance reporting and presentations for RMR senior leadership, including support for quarterly earnings and investor materials.
• Help develop and maintain KPI dashboards and reporting tools for portfolio monitoring, in coordination with Business Intelligence.

Transactions & Strategic Initiatives 

• Support financial analysis and underwriting associated with potential acquisitions, dispositions, operator transitions, and other strategic initiatives. 
• Assist in preparing analyses and materials supporting recommendations to internal stakeholders and REIT management. 
• Support due diligence, valuation analysis, transaction execution, and operator transition activities as required. 
• Assist leadership with ad hoc analysis, portfolio strategy initiatives, and special projects. 
• Collaborate with internal stakeholders, including Business Intelligence, Capital, Accounting, Finance, Legal, and other teams, as appropriate. 
• Attend industry events and conferences (e.g., NIC, Argentum) to build market knowledge and industry relationships.

Qualifications

• Bachelor’s degree in business, finance, economics, real estate, hospitality, healthcare administration, or a related field. 
• 2-5 years of relevant experience in asset management, investment analysis, real estate, finance, accounting, consulting, senior living, or healthcare. 
• Knowledge of senior living operations and/or senior living real estate, including independent living, assisted living, and memory care operating metrics, is preferred. 
• Working knowledge of property-level financial statements, budgets, and financial models. 
• Strong analytical and financial skills with the ability to interpret quantitative and qualitative information and translate analysis into actionable conclusions. 
• High proficiency in Microsoft Excel, Word, PowerPoint, and Outlook. Experience with Power BI or similar business intelligence tools is a plus. 
• Strong written and verbal communication skills with the ability to clearly summarize asset performance, key issues, and recommendations. 
• Strong organizational skills and attention to detail, with the ability to deliver accurate, timely work that allows time for next-level review.
• Self-motivated, intellectually curious, resourceful, and comfortable taking initiative in a fast-paced, team-centered, results-driven environment. 
• Ability to work collaboratively with asset managers, operating partners, senior leadership, and cross-functional teams to navigate multiple priorities and meet deadlines.
• Ability to progressively assume greater responsibility for assigned communities as senior living operational and financial expertise develops.
• Ability to travel approximately 20-25% of the time, including overnight.

Total Rewards

The RMR Group offers an extensive total rewards package to ensure that your benefits align with your needs. Employees who work at least 20 hours per week are eligible to participate in The RMR Group’s benefits plans, including:

• Health Insurance
• Dental Insurance
• Vision Insurance
• Life & Disability Insurance
• Health Savings Account (HSA) & Flexible Spending Plans (FSA)
• 401(k) Plan with Employer Match
• Holidays, Vacation & Sick Time
• Parental Leave
• Tuition Assistance
• Matching Gift Program
• Wide Array of Voluntary, Employee-Paid Benefits to choose from including Critical Illness & Accident Insurance, Identity Theft Protection & Pet Insurance

The estimated base compensation range for this position is $120,000 to $140,000 per year. RMR considers several components including an individual's skills, qualifications, experience, internal equity, and market data. 

Company Overview

The RMR Group (Nasdaq: RMR) is a leading U.S. alternative asset management company, unique for its focus on commercial real estate (CRE) and related businesses. RMR’s vertical integration is strengthened by over 800 real estate professionals in more than 30 offices nationwide who manage over $37 billion in assets under management and leverage 40 years of institutional experience in buying, selling, financing and operating CRE. RMR benefits from a scalable platform, a deep and experienced management team, and a diversity of real estate strategies across its clients. RMR has been recognized by The Boston Globe as a “Top Place to Work”, by the Environmental Protection Agency (EPA) as an “ENERGY STAR Partner of the Year” and ranked by the Building Owners and Managers Association (BOMA) as having one of the highest number of BOMA 360 designated properties in its portfolio. RMR is headquartered in Newton, MA and was founded in 1986.

RMR’s mission is to create long term value for our clients by managing their investments and assets “like we own it” – an approach that consistently and repeatedly generates opportunities for all our employees, investors and stakeholders. We are guided by six core values:

• Integrity at Our Core.
• Perform Passionately and Effectively.
• Inspired Thinking.
• Like We Own It.
• Power of We.
• Mutual Respect.

Visit our website to learn more about what makes The RMR Group a rewarding place to build a career.

Follow RMR on LinkedIn and Instagram @thermrgroup. 

The RMR Group is an equal opportunity employer. Qualified applications will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status. For our EEO Policy Statement, please click here. If you’d like more information on your EEO rights under the law, please click here.

Apply for this job onlineEmail this job to a friend Share on your newsfeed