Director, Asset Management, Workouts, Hybrid position

About the Role

The Director, Workouts is an asset management leadership role responsible for stabilizing, restructuring, and repositioning underperforming assets within Enterprise Community Development’s affordable housing portfolio. This role focuses on properties with structural cash flow deficits, sustained net operating income shortfalls, capital constraints, or other forms of distress requiring active intervention. The Director will manage a dedicated team and serve as the owner’s representative for a portfolio of non-stabilized LIHTC senior and family communities. This position requires advanced financial expertise, strong leadership and communication skills, and disciplined problem-solving to drive long-term stabilization and risk mitigation. The role reports to the Senior Vice President, Asset Management, and is based in Baltimore, MD, and Bethesda, MD, with a hybrid work arrangement.

Responsibilities

• Lead the identification, triage, and resolution of assets experiencing chronic cash flow deficits or operational distress.
• Develop, implement, and oversee property-specific action plans for stabilization.
• Prepare and present recommendations to Senior Management.
• Find, investigate, and apply for project-level grant or soft debt funding to support stabilization.
• Assist the Transactions Team with dispositions and/or refinancings.
• Identify additional sources of ancillary income to help communities stabilize.
• Manage, coach, and develop a team of workout-focused asset management professionals.
• Review and approve operating budgets, reforecasts, capital expenditure plans, and non-routine expenditures.
• Analyze financial statements, debt structures, reserve usage, and partnership arrangements.
• Partner with property management, development, compliance, and resident services teams to resolve complex asset challenges.
• Oversee site visits, physical needs assessments, inspection responses, and action plans.
• Oversee monthly, quarterly, and annual reporting for the workout portfolio.
• Prepare internal reports and support lender, investor, and partner communications.

Qualifications

• 7+ years of LIHTC/multifamily experience.
• 3+ years of workout experience.
• 5+ years of direct people management experience.
• Bachelor’s degree required; Finance, Accounting, Business, or Real Estate preferred.
• Master’s degree (MBA or MS Real Estate) or CPA strongly preferred.
• Demonstrated leadership, sound judgment, and ability to operate in high-pressure environments.
• Excellent verbal communication and business writing skills.
• Strong financial and analytical skills, including advanced proficiency in Microsoft Excel.
• Proficiency with Yardi.
• Ability to produce, review, and interpret real estate financial models and financial statements.
• Proven problem-solving, critical-thinking, and project management skills.
• Strong organizational skills with ability to coordinate complex activities and meet deadlines.
• Ability to interact professionally with diverse groups of associates, residents, and external partners.
• Demonstrated positive attitude, intellectual curiosity, and commitment to continuous improvement.
• Commitment to ethics, professionalism, and collaboration; ability to build respectful, effective working relationships.

Pay

The pay range for this position is $155,000/year - $175,000/year. Compensation decisions may be influenced by factors such as skills, qualifications, experience, and location.

Benefits

• Dental, health, and vision care plans.
• Family-building benefits, including adoption and surrogacy support.
• Flexible work arrangements for work-life balance.
• Health advocacy, Employee Assistance Program (EAP), and mental health benefits.
• Financial education and wellness programs.
• Auto-enrollment in the company’s 401(k) plan with employer matching contributions.
• Learning and development opportunities, including tuition reimbursement.