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Jobs · Finance · Illinois

Director of Asset Management

Evergreen Real Estate Group · Chicago, IL · 3 wk ago
HybridFinanceFull-time

Job Summary

Evergreen Real Estate Services is seeking a strategic, systems-oriented Director of Asset Management to lead and build a best-in-class asset management function for a growing national affordable housing portfolio, including assisted living communities. This role operates from a true ownership perspective, with primary responsibility for driving long-term asset value, financial performance, and investment outcomes across the portfolio.

Key Responsibilities

  • Portfolio Strategy & Ownership Oversight

  • Develop, maintain, and communicate asset-level business plans aligned with financial and operational goals

  • Monitor performance across occupancy, collections, expenses, reserves, capital needs, and compliance

  • Provide ownership-level insight and recommendations on portfolio strategy and asset performance

  • Lead portfolio reporting and present risks, opportunities, and action plans to senior leadership

  • Financial Performance & Risk Management

  • Review monthly financials, variances, and reforecasts; identify trends and recommend solutions

  • Establish reporting processes that support decision-making without overburdening operations

  • Review and analyze property operating budgets, reserve levels, and capital needs to evaluate financial performance and support ownership-level asset strategy

  • Lead and execute financial strategy for refinancing, recapitalizations, Year 15 transitions, and dispositions

  • Track and oversee property tax incentives across the portfolio

  • Evaluate and recommend AI options to improve information assessment and reduce time requirements for asset management tasks

  • Asset Integration & Business Plan Execution

  • Support due diligence activities for acquisitions, transitions, and integrations by reviewing operational, financial, compliance, and physical asset information and identifying potential risks or performance concerns

  • Partner with property management, accounting, compliance, and operations teams to support implementation of operating plans, financial goals, and performance expectations for newly onboarded assets

  • Address stabilization challenges through coordinated, actionable solutions

  • Compliance & Regulatory Oversight

  • Partner closely with the Compliance team to monitor regulatory performance, identify compliance-related risks, and support resolution planning for LIHTC, HUD, and other affordable housing programs

  • Monitor compliance risks and ensure appropriate escalation and resolution

  • Capital Planning & Physical Asset Oversight

  • Evaluate capital needs and priorities with operations and facilities teams

  • Support financial and operational strategy related to refinancing, recapitalizations, Year 15 transitions, and dispositions in partnership with preservation, development, and executive leadership teams

  • Review reserve usage, capital projects, and long-term asset preservation strategies

  • Conduct periodic and strategic site visits as needed to assess overall asset condition, operational challenges, and performance trends

  • Watchlist, Turnaround & Manager Oversight

  • Establish and manage a watchlist for underperforming or high-risk assets

  • Develop and guide turnaround strategies for operational or financial challenges

  • Evaluate effectiveness of property management (including third-party managers)

  • Recommend management changes when necessary

  • Stakeholder Communication

  • Serve as a primary contact for investors, lenders, and financial partners post-stabilization

  • Develop clear ownership narratives for performance issues and strategic decisions

  • Present recommendations to internal and external stakeholders

  • Department Leadership & Process Development

  • Build scalable systems, reporting tools, and processes for asset management

  • Partner with IT and internal teams to improve data and reporting capabilities

  • Help define future staffing needs and support department growth

  • Support organizational alignment by reinforcing structured goal-setting, accountability, and performance tracking frameworks (e.g., EOS or similar systems)

Qualifications

  • Bachelor’s degree in Finance, Real Estate, Business Administration, or related field required
  • Master’s degree preferred
  • 7+ years of progressive experience in affordable housing asset management or related ownership-side roles
  • Strong experience with LIHTC, HUD, and affordable housing operations
  • Experience with financial analysis, portfolio oversight, and capital strategy
  • Prior leadership or department-building experience preferred
  • Licenses & Certifications: Relevant professional certifications or designations in real estate, finance, or asset management are a plus (e.g., CFA, CPA, CCIM, or similar)

Skills

  • Strategic Asset Thinking
  • Financial & Analytical Acumen
  • Ownership Mindset & Accountability
  • Execution & Problem-Solving
  • Cross-Functional Leadership
  • Systems Thinking & Process Development
  • Stakeholder Communication & Influence
  • Regulatory & Industry Expertise
  • Adaptability & Growth Orientation

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