Managing Director – Asset Resolution and Dispositions

This is a fully remote position, open to applicants in United States.

📋 Description

• Oversee the evaluation and resolution of at-risk assets by assessing financial performance, identifying portfolio risks, and formulating strategies that promote long-term property success while minimizing impacts to NEF and its stakeholders.

• Manage the activities of asset resolution vice presidents, directors, and staff.

• Collaborate with Regional Asset Managing Directors to assess and create workout scenarios for investment properties.

• Conduct or oversee financial reviews of assets and the organizational capabilities and management systems of properties, sponsors, and property managers to ensure compliance with Section 42 and other regulatory obligations.

• Evaluate the cash flow and tax credit consequences of available options.

• Take direct responsibility for workout activities on more challenging projects, as necessary.

• Guide vice presidents, directors, and staff in implementing successful disposition strategies that align with NEF standards, philosophy, and fund offering requirements.

• Exhibit knowledge of Year 15 disposition strategies, including partner/member purchase options, right of first refusal, and third-party real estate sales, and comprehend how each impacts the partnership or company.

• Assess project performance, assign risk ratings according to NEF criteria, and develop action plans to mitigate risks and protect tax credit benefits and investor reporting obligations.

• Prepare and present workout requests for approval from the board or committee.

• Engage in negotiations with general partners, lenders, and other transaction parties.

• Oversee the workout process through to closing and implementation.

• Collaborate with regional asset Managing Directors and Asset Managers to assist in the coordination and review of quarterly watch list evaluations and the auditing of analyses used for watch list ratings.

• Participate and present in bi-annual watch list meetings.

• Supervise the preparation and presentation of accurate, timely portfolio reports and analyses for both internal and external stakeholders, including special requests from the Head of Portfolio Management and Asset Resolution.

• May be responsible for managing real estate owned (REO) properties when NEF takes on a general partner interest to safeguard tenants’ housing and investor interests.

• Address investor inquiries in coordination with the Investor Relations Team and participate in investor due diligence meetings as required.

• Supervise the work of vice presidents, directors, managers, analysts, consultants, and temporary staff as necessary.

• Undertake additional assignments as directed by the Head of Portfolio Management and Asset Resolution.

⛳️ Requirements

• Bachelor’s degree in business, real estate, or a related field.

• A Master’s degree is preferred.

• At least 10-15 years of relevant experience, including a minimum of 3 years of direct workout experience.

• Proven success in real estate development, asset management, and property management, with expertise in multifamily operations, asset workouts, and affordable housing programs, including LIHTC/Section 42.

• Over 7 years of experience leading teams in a complex business environment, with a demonstrated ability to develop talent, drive accountability, and foster collaboration.

• Proven capability to identify, investigate, interpret, and communicate warning signs of potential issues.

• Strong financial analysis knowledge and skills are essential.

• Based on analysis, demonstrated problem-solving ability to create intervention strategies.

• Familiarity with or experience in non-profit community development corporations.

• Commitment to the objectives of community development.

• Demonstrated initiative, resourcefulness, and sound judgment, with the ability to work independently, manage competing priorities, and effectively contribute to a cross-functional team.

• Proven ability to analyze complex business situations, identify key issues, and develop innovative, practical solutions that consider the needs of multiple stakeholders.

• Strong collaborative skills with a proven capacity to build consensus, promote teamwork, and contribute to shared goals while maintaining accountability for results.

• Exceptional written and verbal communication skills, with the ability to deliver clear, concise, and persuasive presentations and business communications.

• Strong relationship management and networking skills, with the ability to build trust, influence stakeholders, and effectively manage both internal and external expectations.

• An adaptable and resilient professional who flourishes in a fast-paced, evolving environment and can effectively navigate ambiguity, change, and risk.

• Demonstrated success in negotiating complex real estate transactions and achieving favorable outcomes while balancing the interests of the company, customers, and other stakeholders.

• Willingness and ability to travel as needed.

• Proficiency in MS Office Suite software and database software.

🏝️ Benefits

• Competitive salary

• Comprehensive benefits package