Vice President of Asset Management

Description

The Vice President of Asset Management (VPAM) will report directly to the Executive Director – Property Operations and is responsible for driving and implementing asset business plans with a focus on achieving performance related to underwriting models and targets. The VPAM will be responsible for overseeing a growing department that currently includes an Operations Analyst and will work in tandem with the Director of Property Management to create and implement strategic growth and value initiatives for JSR’s managed properties. The VPAM will lead his or her team to create and maintain processes for setting competitive rents, collecting and reviewing reporting on revenue streams, expenses and NOI performance throughout the portfolio, and detailing performance to established financial goals. This person also serves as a liaison between the acquisitions team and the operations group. The ideal candidate will be able to multitask in a fast-paced, deadline driven environment, while paying careful attention to detail and will also have managerial experience and the capability to lead a team.

Requirements

• Execute and implement (in conjunction with portfolio management team) growth strategies for JSR properties
• Create annual business plans to enhance property level strategy pursuant to initial underwriting targets
• Oversee the revenue management functions in the evaluation of JSR’s revenue optimization program (AIRM) and implement strategies to ensure its effective use across the entire portfolio
• Oversee and set rental rates and lease terms to ensure listing and renewal pricing adjustments are being optimized, and work with the property management team to implement rental rate targets
• Create and oversee a streamlined process for data integrity and analysis, implement and execute policies to ensure compliance
• Establish and monitor benchmarking standards for controlling property expenses
• Oversee the pre-occupancy phases of all non-residential leasing efforts
• Negotiate, track, monitor and maintain all property level ancillary contracts (i.e. telecom)
• Work with the property management and finance teams to provide reporting and analysis of all aspects of financial property performance, including setting and reviewing key performance indicators, trends, forecasting and opportunities
• Oversee all utility bill back programs to maximize allowable utility cost expense recapture
• Analyze and opine on the value and return of certain capital improvement and value-add projects
• Create, execute and evaluate strategic decisions in conjunction with Director of Property Management and Senior Management to support underwriting goals by maximizing revenue and NOI for JSR’s portfolio
• Ensure JSR is ahead of industry trends, adapting to market changes as necessary
• Oversee reporting program to analyze quarterly or monthly budget to actual variance reporting and benchmarking
• Oversee the annual operating budget process in conjunction with senior management, property management and JSR finance team
• Collaborate with acquisitions team to provide underwriting analysis from an operational standpoint and assist with strategy for acquisitions
• Provide support to the Executive Director – Property Operations as needed

Qualification

• Bachelor’s Degree in Finance, Accounting, or Business Administration required
• Experience with revenue management software such as AIRM, YieldStar, etc. preferred
• At least five (5) years’ experience in finance or asset management within a property management or multifamily management organization
• At least three (3) years’ experience in a supervisory role, managing people or a team
• Proficient computer and software skills, specifically in Microsoft Office and Yardi (or comparable property management software)
• Strong organizational skills and ability to multi-task in a fast-paced environment
• Excellent time management skills; can easily conform to shifting priorities and timelines
• Strong analytical and research skills
• Trustworthy and reliable, sensitivity to confidential matters is required

Benefits

• Medical, Dental & Vision (100% covered by employer)
• Retirement Plan (401k, IRA)
• Life Insurance (Basic, Voluntary & AD&D)
• Paid Time Off (Vacation, Sick & Public Holidays)
• Family Leave (Maternity, Paternity)
• Short Term & Long-Term Disability.

Jones Street Residential Inc. is an equal opportunity employer. Jones Street evaluates qualified applicants without regard to race, color, religion, gender, national origin, age, sexual orientation, gender identity or expression, protected veteran status, disability/handicap status or any other legally protected characteristic.

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