Director, Asset Management, Workouts, Hybrid position

Director, Workouts

Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $92.0 billion and created 1.1 million homes across all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands – all to make home and community places of pride, power and belonging.

Join us at enterprisecommunity.org

Working at Enterprise

At Enterprise, you'll be part of a diverse, committed team making a difference every day. You will collaborate with some of the smartest minds and biggest hearts in our field. You'll be empowered to drive systems change and take bold steps to advance racial equity. And you will find a career home where you're valued and supported in your growth journey.

Enterprise offers career opportunities in our offices across the country with an exceptional benefits package.

Job Description Summary

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 is specifically focused on properties experiencing structural cash flow deficits, sustained net operating income shortfalls, capital constraints, or other forms of distress requiring active intervention beyond routine asset management. The Director, which is a new position at ECD, will manage a dedicated team and serves as the owner's representative for a portfolio of non-stabilized LIHTC senior and family communities.

The position requires advanced financial expertise, strong people leadership and communication skills, and disciplined problem solving to drive long-term stabilization and risk mitigation. The position reports to the Senior Vice President, Asset Management. The Director, Workouts is a hybrid position based out of the Baltimore, MD and Bethesda, MD HQ Offices.

Job Description

• Lead the identification, triage, and resolution of assets experiencing chronic cash flow deficits or operational distress.
• Develop, implement, and oversee property-specific action plans that result in property stabilization.
• Prepare and present recommendations to Senior Management.
• Find, investigate, and apply for project level grant or soft debt funding to help properties stabilize.
• Assist Transactions Team with dispositions and/or refinancings.
• Identify additional sources of ancillary income that can help a community 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 clear internal reporting 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 people leadership, sound judgment, and ability to operate effectively 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, prioritize competing…