Senior Project Manager, Asset Management

Description

Title: Senior Project Manager, Asset Management - CDS

Employee Status: Full-Time Exempt

Salary: Grade 6

Starting range of $93.8 – $105K

Reports to: IFF Controller & Foundation for Homan Square CFO

Department: Core Operations | Asset Management

Location: Chicago, IL

Hybrid: In office: T/W | WFH: M/Th/F

Department Function: The Asset Management department oversees and operates all real estate assets owned, operated, and leased by IFF and related entities.

The Organization

IFF is a mission-driven lender, real estate consultant, and developer that helps communities thrive. Key to our success has been a deep sense of purpose, a broad perspective, and a relentless focus on achieving positive results. Across the Midwest, we help clients from every sector, including human service agencies, health centers, schools, affordable housing developers, and healthy food grocery operators. Staff contribute extensive business experience and an unrivaled connection to the mission of IFF to the clients we serve.

Equity, Diversity, and Inclusion

Partnering to create thriving communities is at the heart of everything we do. We leverage knowledge, capital, and resources to advance equitable and transformational outcomes in under-resourced communities, guided by our commitment to be an inclusive, anti-racist and anti-oppressive institution that honors communities as asset-rich and as experts in their own stories.

Basic Job Function

The Senior Project Manager manages the CDS real estate assets; directly oversees portions of the asset management portfolio; coordinates internal and external compliance and reporting schedules; assists with the strategy for setting and meeting goals; steers and organizes working relationships with property managers and other external parties; and works with other departments.

IFF is looking for candidates who are committed to our work and can demonstrate their creativity, diligence, enthusiasm, growth mindset, thoughtfulness, and passion for making meaningful change in the areas of economic and racial justice.

Requirements

Core Responsibilities

1. Ensures long-term viability of development projects by providing oversight to maximize operational efficiencies that brings best in class asset management project direction on business plans, budgets, forecasts, optimizing leases, performance analysis, and compliance.

2. Collaborate with the Community Development Solutions teams to identify opportunities that drive impactful results in terms of the tenant experience. Assists the teams to develop short-term and long-term capital improvement plans and budgets.

3. Works directly with the Finance department to review and monitor property financials to identify and create solutions for potential issues. Makes recommendations to ensure properties are financially viable for the long-term. Establish annual property and capital budget expectations that align with established goals, including rent increases. Develop and maintain cash flow and distribution projections.

4. Responsible for making certain projects are physically maintained to a quality standard of care. Conducts asset inspections to focus on optimizing property value and ensuring compliance with regulations. Conduct periodic property physical and administrative reviews to evaluate property management, management plan conformance and physical condition of CDS portfolio. Establish annual property and capital budget aligned with established trends to include property-specific expense items, AMI-specific rent increases, utility allowances, etc; work with property management as required; present to Finance and CDS for approval.

5. Participates in the lease-up of newly constructed housing projects. Coordinates with all parties involved to ensure units are ready to be occupied. Build and maintains relationships with governmental agencies as needed. Ensures the development projects are in compliance with local, state, and federal agencies. Prepare investor, lender and regulatory agency reporting, as required.

6. Develop a property management assessment tool to evaluate property management performance. One that utilizes property data to establish Key Performance Indicators and analyzes results to recommend changes that help active key objectives. Assess monthly property operating performance against dashboard indicators across the life of the properties, including initial lease-up compliance, comparability analysis, corrective recommendations for review to the Asset Management and Community Development Solutions teams.

7. Develops internal processes to provide organizational support, invoice tracking, and administrative coordination for Asset Management.

8. Understand industry best practices and the most relevant programs including industry-related policies, statutes, rules and regulations impacting the CDS portfolio. Maintain required job knowledge and skills and core professional competencies. Attend and participate in required educational programs and staff meetings to advance professional development.

9. Demonstrates a commitment to equity, diversity, and inclusion. Promotes an environment of empathy and respect, ensures the inclusion of all team members, and will actively engage in EDI events and learning opportunities.

10. Perform other projects as assigned.

Performance Measures:

1. Assigned properties are in compliance, up-to-date, and functioning efficiently.

2. Properties are appropriately maintained and managed. Concerns are addressed in a timely manner.

3. Asset management strategy affirmed and carried out; data collection informs and guides the work.

4. Documentation is complete and well organized.

5. Asset plans are in place for program properties; property managers have been identified and are part of regular check-ins.

6. Third-party vendors identified, hired, and well-managed.

7. Cultivate a culture of openness in information sharing. Encourage open communication, cooperation, and the sharing of knowledge.

8. Models personal accountability that promotes ownership and engagement.

9. Builds and maintains effective working relationships with colleagues, peers, and team members.

10. Values and supports others' differences, contributing to an inclusive work environment. Demonstrates the ability and willingness to communicate effectively with people of diverse backgrounds and experiences to create a collaborative, collegial, and caring community.

11. High level of satisfaction with both internal colleagues and external contacts.

Position Qualifications:

Minimum Requirements

• Five or more years of related experience, preferably in real estate, housing, nonprofit, or property management sectors.
• A bachelor’s degree is required, preferably in community development, public policy, business, accounting, finance, or a related field; a Master’s in a related field is an option.
• Familiarity with New Markets Tax Credit projects, Low-Income Housing Tax Credit projects and compliance preferred

Additional Requirements:

Regular travel throughout the Midwest region; occasional early start or extended hours and evening or weekend work.

Standard Benefits:

• Medical, dental, and vision insurance
• Paid time off
• 401(k) retirement plan with employer contribution
• Life Insurance
• Short and long term disability

Work-Life Balance Benefits:

• Hybrid workplace
• Summer Fridays

Employee Development Benefits:

• Professional development stipend
• Mentorship program

Miscellaneous:

• Wellness programs
• Employee assistance
• Referral Bonuses

IFF does not offer the following:

• relocation package
• 100% remote
• provide sponsorship to applicants who require or will require a work permit.

Disclaimer

Applicants may be subject to a background check. Employees in this position must be able to perform the essential functions satisfactorily. If requested, IFF will make every effort to provide reasonable accommodation to enable employees with disabilities to perform the position’s essential job duties. As markets change and the Organization grows, job descriptions may change over time as requirements and employee skill levels evolve. With this understanding, IFF retains the right to change or assign other duties to this Senior Project Manager, Asset Management position.

Even if your qualifications don’t match our criteria exactly, we welcome you to apply if you are interested and feel you would be able to succeed in this position. We have found that people with diverse backgrounds and experiences in our workforce create a more rewarding, dynamic, and effective work life.

Application Instructions: Please visit the Careers section of our website to apply online.

IFF values equity, diversity, and inclusion as part of its mission to strengthen nonprofits and the communities they serve. IFF is an equal-opportunity employer and is committed to building and maintaining a culturally diverse workplace that is free of discrimination and harassment of any kind. We encourage women, minorities, individuals with disabilities, and veterans to apply. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, veteran status, or any other status protected by the laws or regulations in the locations where we operate.