Vice President Portfolio Management
IN - Investment
Estimated Travel Percentage (%): No Travel
Relocation Provided: Yes
AIG ASSET MANANGEMENT US LLC
AIG GLOBAL REAL ESTATE - AFFORDABLE HOUSING
Position Title: VICE PRESIDENT - Portfolio Management
Position Reports To: Managing Director of Portfolio Management
Purpose of the Position:
The Vice President (VP) is a key management position for the company. The VP will assist in providing leadership, strategic direction and guidance to maximize the financial and operational performance of the company's affordable housing portfolio through analysis of the market, the portfolio and individual properties, coordination of management and operations of the portfolio and individual properties with other groups within and without of the company, and analysis and execution of property sales, refinancings and other strategic transactions. The VP will have substantial responsibility in assisting with the planning, directing, and managing of all aspects of the Portfolio Management department policies, objectives, and initiatives to achieve company goals. The VP will report to, and work closely with, the Managing Director of Portfolio Management, all internal departments, partners and lenders.
The primary objectives of the VP are to maximize the financial performance and value of the portfolio by developing and implementing strategic business plans for individual properties and the portfolio as a whole. These objectives are achieved through routinely evaluating and modifying portfolio and individual property operating plans to maximize profitability through targeted sales, refinancings and other strategic transactions, and will include evaluation and analysis of market conditions, property conditions and performance, partnership rights, general partners, and managing agents. The VP will have primary responsibility for leading a team of financial analysts.
- Manage analyst team to develop property and portfolio level business plans, obtain approvals and implement 30-60 strategic transactions annually, including property sales, refinancings, partner acquisitions and other related transactions. Responsibilities will include:
- Understanding and evaluating property operations and cash flow
- Understanding and evaluating debt characteristics and instruments
- Reviewing and analyzing property valuations, including demographic information, market information, and economic trends that impact property values
- Interpret property submarket and comparable property information
- Reviewing and analyzing partnership documents
- Overseeing the preparation of detailed distribution models
- Analyzing various value-add, disposition and refinancing strategies
- Reviewing sale proposals and marketing materials
- Reviewing refinancing materials
- Presenting recommendations and assumptions in a concise and supported way to senior management and investment committee
- Assisting documentation, negotiation and closing of transactions
- Negotiating with partners and other third parties
- Coordinating efforts between team members and third parties
- Manage debt portfolio, including strategic oversight and administrative matters.
- Review monthly and year-to-date portfolio operating performance comparing actual to budget/proforma variances. Recommend methods to reduce variances and improve performance. Develop and implement strategies to minimize operating deficits.
- Manage analyst team in providing analytical and logistical support in partnership workouts
- Provide analysis and logistical support for partner transfer requests.
- Maintain effective lines of communication with senior management, third party partners, managing agents and internal departments and comply with company policies and procedures.
- Sustain awareness of industry business practices by participating in local, regional and national real estate associations and industry groups.
- It is critical that the VP possess excellent managerial and leadership capabilities.
- A strong working knowledge of multifamily real estate, real estate finance, the low income housing tax credit program, and real estate transactions are essential.
- The individual must have strong investment acumen, motivated to create results and maintain excellent communication skills.
- Success requires strong strategic planning and leadership skills with the ability to effectively manage a team of analysts during periods of high transactional volume.
The VP must possess a high attention to detail with strong analytical skills and have the confidence that their work product is accurate and complete. The VP should be an independent and flexible problem solver who can work in group settings with good political instincts and judgment. The willingness to accept responsibility for new projects and see existing projects through to completion is critical. The VP must be skilled with spreadsheet analytical software and have a strong working knowledge of Excel, Word, Access, and other PC based software.
General education or equivalent: Minimum 10 years of multifamily real estate experience. Experience in Section 42 housing preferred. BA degree required. MBA or JD preferred.
Physical demands: Individual must be capable of sitting and working on a computer for prolonged periods of time. Must be able to speak clearly and understandably, hear communications by telephone and in person, type data into a computer and read data from a computer screen.
This position description does not promise or imply that the functions listed are the only duties to be performed or that the position may not change or be eliminated. Employees are always expected to follow their supervisor's instructions and to perform the tasks requested by their supervisors.
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission - creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.
We consider qualified applicants with criminal histories, consistent with applicable law.