Senior Portfolio Manager

Title: Senior Portfolio Manager

Division: Asset Management

Status: Exempt

Reports to: Vice President of Asset Management

Revision date: May 2025

Supervises: N/A

PURPOSE

According to prescribed policies and procedures of the organization including all applicable state, federal and accreditation regulations and reporting to the Vice President of Asset Management, the incumbent will support the development and implementation of asset management strategies for National Church Residences' HUD Section 202 portfolio (HUD Project Rental Assistance Contract or PRAC).

This role is responsible for developing asset plans for over 70 PRAC properties to ensure optimal financial performance. Success will be measured by achievements in securing HUD Budget-Based Rent Increases (BBRI), reducing operating deficits, addressing capital funding gaps, and executing successful RAD for PRAC conversions.

ESSENTIAL FUNCTIONS

Asset Management Policy & Strategy

• Develop and implement asset management policies and procedures for PRAC properties.
• Lead strategic efforts to optimize financial performance and long-term sustainability of the PRAC portfolio.

Financial Oversight & Budget Review

• Analyze and approve budgets for selected PRAC properties, focusing on sites with chronic operating deficits and capital gaps.
• Evaluate annual operating and capital budgets, including the BBRI submissions to HUD.
• Review data on BBRI submission timeliness and frequency, creating dashboards to monitor performance.

Capital Planning & Needs Assessments

• Identify properties with material capital gaps and determine the need for Capital Needs Assessments (CNAs).
• Assess opportunities to integrate higher reserve funding requirements into annual BBRI submissions.
• Work alongside the capital planning team to evaluate PRAC portfolio capital needs and develop policies for prioritization.

HUD Liaison & Regulatory Compliance

• Serve as the primary liaison with HUD on policy and procedural matters related to BBRI and RAD for PRAC conversions.
• Engage with HUD Account Executives to address inquiries and resolve issues pertaining to BBRIs.
• Oversee third-party consultants supporting RAD for PRAC conversions.

Portfolio Performance & Reporting

• Develop enhanced management reports tracking PRAC portfolio performance, including rent increase outcomes, operating deficits, and capital needs.
• Ensure strategic decisions are data-driven and aligned with organizational financial goals.

Restructuring & Optimization of Underperforming Assets

• Lead efforts to restructure and optimize underperforming PRAC properties.
• Identify and implement operational efficiencies to reduce or eliminate persistent operating deficits.
• Evaluate opportunities for alternative financing programs to recapitalize PRAC assets.

EXPECTATIONS

• Demonstrates and maintains a positive, professional manner, manages time efficiently and effectively, provides leadership as a role model to promote a team approach, collaborates and participates in policy creation and appropriate problem-solving methods.

• Must adhere to all policies, procedures, terms and conditions set forth in the National Church Residences Employee Information Guide (EIG), the Code of Conduct, as well as any facility handbook, including but not limited to, corporate compliance, drug free workplace, safe work practices, all federal, state, local regulations and laws.

• With respect to Resident Rights, ensure all care is provided with respect and dignity for the residents/clients, their families and the staff. Reports all complaints made by residents/clients and/or families to the appropriate supervisors, reports all allegations of abuse, misappropriation of funds/resident property and/or any other corporate compliance, drug free workplace, safe work practices, all federal, state and local regulations and laws.

• Completes all annual education requirements timely, including but not limited to Compliance, Privacy, Security and HIPAA training and exhibits behavior as set forth by the Code of Conduct in the performance of their duties.

• Performs other duties as assigned.

• Bachelors degree in finance, accounting, real estate or related field with strong record of academic achievement with MBA preferred.

Experience: Minimum of 5 years experience in affordable housing property management, operations, real estate asset management and/or affordable housing transaction management. 5+ years experience in HUD programs.

Mental: Must have excellent communication, comprehension, and interpersonal skills. Must have the ability to speak, read, write and understand English, as well as the ability to make self-understood.

Skills: Must have very strong proficiency in Microsoft Office suite, Windows, etc. and capacity for learning new software systems quickly. Must be self-directed with excellent organizational skills and the ability to manage tasks and assignments concurrently. Must be able to successfully lead others in an environment of complexity. Must have strong knowledge and understanding of affordable housing programs including Low Income Housing Tax Credits and HUD programs, a strong background in financial modeling, solid analytical and problem-solving skills, highly developed verbal and written communication skills.

Travel: Moderate

Licensure: N/A

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Vision: Normal: Consistent with standard workflow.

With respect to said job description, estimate the daily time spent performing the following activities.

Rare ( R) = 0-24%; Sometimes ( S) = 25-49%; Frequent ( F) = 50-74%; Continuous ( C) = 75% plus

R = Climbing R = Stooping Lifting / Carrying; S = 10-25 lbs.

S = Standing R = Pushing R = 26-50 lbs.

F = Sitting R = Pulling R = 51-75 lbs.

S = Walking R = Driving ` R = 76 plus lbs.

Working Conditions: Office based. Hybrid optional.

Consequences of Errors: Substantial. High monetary responsibility.

Supervision Received: General supervision: Employee collaborates regularly with manager and peers.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, ancestry, military status, disability, genetic information and/or any other characteristics protected by applicable law.