Director of Asset Management - DHIC

Our Vision 

We envision a housing ecosystem that provides and promotes equity, generational wealth, health and wellness for the communities in which we work. 

Our Mission 

DHIC supports individuals, families, and seniors by providing homes and opportunities that promote the financial, physical, and mental well‐being of people and communities. 

About DHIC 

Established in 1974, DHIC, Inc. is the Research Triangle area's leader in affordable housing development, maintaining an emphasis on innovation, quality, attractive design, and green features at our properties. DHIC has constructed, acquired and/or rehabilitated 3,112 affordable rental units in 46 different locations in eight counties in North Carolina, and has built more than 400 new homes for first time homebuyers in Wake County. Together, these projects leveraged $627 million in direct investment from both the private and public sectors. In addition to numerous designs, community service, and management recognitions we have received, DHIC is consistently rated as an “Exemplary” member of the NeighborWorks® America national network of non-profit community developers. DHIC is also a member of the Housing Partnership Network. Learn more about DHIC at www.dhic.org.  

The Opportunity and Nature of Work 

The Director of Asset Management will report directly to the Vice President of Asset Management and will be responsible for directing the short-and long-term operational performance of the multifamily portfolio, including the execution of asset management business strategies and routine reporting on the multifamily portfolio. The Director of Asset Management will support the VP of Asset Management in department business planning, administrative operations and will serve as a resource for answering questions, providing guidance and offering follow-up recommendations to Asset Managers concerning asset and property management operations. 

Duties & Responsibilities 

• Oversee multifamily portfolio performance and maximize properties’ cash flow, expense controls and operating efficiencies. 
• Analyze property financial statements and variance reports against internal benchmarks & budgets on a monthly and quarterly basis. 
• Work closely with asset management staff, property managers, regional managers, maintenance techs. and provide asset management direction to help solve operating issues with vendors, suppliers, contractors and residents as they emerge at the property level. 
• Build and maintain strong working relationships with third-party property management team and ensure assets are managed to the highest quality standards that represent exceptional customer service delivery to align with the values and expectations of DHIC, Inc. for optimal housing community impact. 
• Supervise annual budget process, perform site inspections, evaluate deferred maintenance needs, and evaluate onsite management operations to ensure compliance to management plans. 
• Identify value-add initiatives, including apartment turn renovations, risk mitigation measures to maintain and preserve quality affordable housing with services. 
• Plan and coordinate third-party capital needs assessments with asset management and property management teams. 
• Assist in preparing quarterly operating reports in collaboration with Asset Management team, including portfolio statistical data, risk rating analysis, watchlist conditions for report to VP of Asset Management, President/CEO and Board of Directors. 
• Review and interpret partnership agreements, loan documents, regulatory agreements, tax returns, audits, QAP and other source documents as needed. 
• Manage limited partner exit strategies for tax credit properties at the end of 15-year compliance period and work with lenders, syndicators and housing agency partners on the transfer of ownership. 
• Monitor asset management technology system for data integrity and communicate corrective service needs to software client manager. 
• Observe and maintain an eye toward eliminating manual processes within asset management and property management operations to pivot toward more efficient technology-based platforms. 
• Ensure compliance with EEOC, Fair Housing, low income housing tax credits and adherence to any other applicable laws. 
• Perform other duties as required. 

Supervisory Responsibilities 

This individual will be responsible to help provide leadership to the operation of the multifamily affordable housing portfolio. Exhibiting strong management and effective communication across internal cross-functional teams and external business partners. 

Knowledge, Abilities & Skills Desired 

• Minimum of 5-10 years of multifamily housing experience in asset management, project management, property management or combination thereof. 
• Strong organizational skills with exceptional attention to detail, ability to multitask and think critically and strategically to meet business objectives. 
• Self-starter with the ability to take initiative, execute projects, implement action plans with minimal supervision, but with regular updates to VP of Asset Management. 
• Must understand and embody the role of an asset manager as GP/MM/owner operator. 
• Self-assured leadership, management skills and collaborator to drive/achieve performance results. 
• Ability to express ideas and describe information in a clear concise manner. 
• Working knowledge and experience with apartment renovation, capital improvements and refinancing strategies. 

Required Background & Qualifications 

• Bachelor’s degree in related field is required. Graduate level training or certifications such as HCCP, CPM, AMS, CHAM are a plus. 
• Familiarity with MRI Investment Central software, Real Page, Yardi is highly desirable. 
• Experience in multifamily affordable housing programs such as: LIHTC, RD, HOME funds, HUD, Sec. 8 and RAD. 
• Intermediate to Advanced Excel Skills and strong general computer skills are necessary 

Working Environment 

This position is expected to maintain regular hours of work which will be a combination of remote work and working at the DHIC administrative office in downtown Raleigh. Periodic site visits will be expected as well as various off-site meetings. 

How to Apply 

To apply, click on the link to the DHIC - Director of Asset Management position profile at ArmstrongMcGuire.com/jobs. You will see instructions for uploading your compelling cover letter, resume, salary requirements, and professional references.  Please provide all requested information to be considered. In case of any technical problems, contact talent@armstrongmcguire.com. No phone calls, please, and no applications will be accepted by email or directly from third-party posting sites. 

DHIC is committed to a diverse and inclusive workforce and encourages all candidates, especially those who have been historically under-represented based on race, ethnicity, age, disability, sexual orientation, gender, socioeconomic status, citizenship status, or religion to apply. 

Review of candidates will begin in May 2023 and continue until the position is filled.