Asset Management Division Manager

Seattle’s Office of Housing (OH) works to build strong communities upholding a vision that everyone has a healthy and affordable home. We partner to create affordable housing by equitably investing to prevent displacement and increase opportunities for people to live in Seattle. A critical part of supporting this mission is to monitor the long-term sustainability and affordable housing compliance of the City of Seattle's investment in multifamily rental projects that receive direct funding.

The Office of Housing is currently seeking an Asset Management Division Manager who will lead ongoing compliance monitoring in the OH Asset Management Unit. This position requires a seasoned and dynamic leader with exceptional organizational and interpersonal skills to guide a high-performing team through complex projects involving financing, population needs, programming, and operational challenges.

The Manager sets the strategic vision and direction for asset management activities and operations of affordable and market-rate housing properties in accordance with City loan and/or regulatory requirements. There are approximately 20,000 income and rent restricted units in buildings that have received a direct investment from the City of Seattle Office of Housing.

The Manager is responsible for implementing systems to increase the efficiency and effectiveness of the Asset Management division to ensure the continued strength of OH housing providers and their properties. This may include developing strategies for project re-development, re-investment, and operations.

The Manager provides strategic leadership, mentorship, and coordination for a team consisting of a Strategic Advisor and four full-time Senior Asset Managers/Asset Managers, fostering collaboration and accountability across the division. Together, the team is responsible for:

• Ensuring that Office of Housing’s portfolio is fiscally and physically sound, properly managed, and compliant with affordable housing requirements.
• Based upon ongoing review of property reports, site visits, and third-party studies, identifying potential problems and develop strategies and action plans to address compliance or operating issues. Consults with and assists staff and agency representatives in the resolution of problems; makes recommendations or takes corrective action as appropriate.
• Conducting analyses to promote optimal portfolio performance and to inform asset management and compliance policies and decisions.
• Analyzing and interpreting real estate appraisals, real estate proformas, operating budgets, balance sheets, and other financial information related to project or portfolio performance.
• Reviewing and interpreting development-related agreements, management and leasing plans, and covenants with City-requirements and help resolve legal, contractual, and technical issues by working with counsel.
• Preparing complex asset management reports and analyses.
• Developing, recommending, and helping administer internal asset management systems including policy and procedure documentation, reporting, projections, and property performance tools.
• Establishing and maintaining effective and cooperative working relationships with colleagues, team members, consultants, legal counsel, project owners, managing agents, and local, state, and federal government agencies, and lenders and investors.

This position will work with and lead across all the Office of Housing (OH) lines of business as a member of the Senior Leadership Team. The Manager works closely with OH Director, Director of Capital Investments (Rental Housing), Director of Policy & Planning, the Director of Finance & Administration, the Contracts & Programs Manager, the Communication Manager, and the Market Incentives Program Manager;

the Manager reports to the Deputy Director.

Your top 3 priorities in this role will be: