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Job Snapshot
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Employee Type:
Full-Time -
Location:
St. Petersburg, FL -
Experience:
Not Specified -
Date Posted:
10/6/2024
Job Description
Job Summary:
As a Portfolio Manager, the individual oversees a portfolio of multi-housing funds and asset managers with autonomy, drawing upon education and practical experience. This role involves analyzing each funds performance as compared to underwritten benchmarks as well as developing and implementing strategic plans to maximize cash returns and capital appreciation at the property and fund levels. This role involves guiding and supporting team activities, ensuring tasks are executed with precision and efficiency. The position entails supervisory responsibilities, potentially extending to managing direct reports, and demands the ability to work independently or collaboratively on complex assignments requiring original thinking and initiative.
The Portfolio Manager delivers solutions to escalated issues, focusing on achieving results measured against predefined milestones and profitability benchmarks. They maintain regular communication with both internal and external stakeholders, covering aspects such as quality control, training, and project leadership. Moreover, the role requires the ability to identify, research, analyze, and resolve intricate issues within a specifically assigned portfolio, upholding high standards of asset management, and contributing to the portfolios overall success. The ideal candidate must be proactive, adept at analyzing performance and fund metrics, understand institutional multi-housing investment fund structures and agreements, and possess the capability to work at both high-level strategic and detailed operational levels. Lastly, they are responsible for ensuring each asset meets financial targets and aligns with the overall investment strategy.
Essential Duties and Responsibilities:
%26middot; Identifies value-add opportunities and develops/implements strategies to improve asset and fund returns.
%26middot; Manages and monitors assigned investment properties, ensuring alignment with strategic objectives, including maximizing profitability at the deal and Fund levels.
%26middot; Leads projects within the Preservation Portfolio, fostering a cohesive team environment while driving innovation and strategic development.
%26middot; Sets and track team goals, driving accountability and performance.
%26middot; Partners with stakeholders to craft and implement a strategic vision for the portfolios future.
%26middot; Conducts site inspections to assess the condition and operational practices of properties.
%26middot; Cultivates and sustains relationships with stakeholders, reinforcing trust and collaboration.
%26middot; Conducts detailed financial analysis to support investment decisions and portfolio management.
%26middot; Identifies and mitigates risks associated with the investments and operations.
%26middot; Research market dynamics and trends, translating insights into actionable strategies.
%26middot; Demonstrates market and investment acumen during engagements with partners and investors.
%26middot; Evaluates and endorses deal modifications proposed by partners, delivering analyses and recommendations to the RJAHI investment committee and investors.
%26middot; Updates and maintains a detailed record of property activities within the RJAHI portfolio management system.
%26middot; Completes internal and external reports with precision and accuracy, ensuring timely delivery.
%26middot; Delivers reports to senior leadership outlining action plans, timelines, interim benchmarks, and communication frequency.
%26middot; Evaluates and refines Preservation Portfolio operations and policies.
%26middot; Provides coaching and mentorship to team members, identifying educational opportunities and developing training programs.
%26middot; Continuously seeks ways to improve the performance and value of the portfolio.
%26middot; Executes various duties and responsibilities as needed, demonstrating adaptability and commitment to success.
Job Requirements
Knowledge, Skills, and Abilities:
Knowledge of:
%26middot The company%26rsquos working structure, policies, mission, and strategies.
%26middot Multifamily real estate revenue management and operations, including property management, Fund level analysis, marketing and leasing, budgeting, capital needs planning, financial reporting, and compliance with financing covenants or regulatory agreements.
%26middot Conducting detailed financial analysis to support investment decisions and portfolio management.
%26middot Developing and implementing strategies to improve asset and Fund returns.
%26middot Strategies to prevent or manage problems within the portfolio, ensuring the long-term success of affordable housing properties.
%26middot Public and private housing finance programs and related compliance requirements, including HUD, HOME, Section 8, IRS Section 42, and other programs.
%26middot Fair Housing laws and practices.
%26middot Institutional investment strategies and partnership structures, including fund management and investor relations within the context of affordable housing.
Skill in:
%26middot Demonstrates analytical abilities and financial acumen at the property and Fund level.
%26middot Understands asset management organizations.
%26middot Utilizes proprietary portfolio management systems to optimize asset performance.
%26middot Possesses time-management skills.
%26middot Exhibits critical thinking and logical problem solving.
%26middot Maintains organizational and communication skills, both written and verbal.
%26middot Understands complex legal documents, employs document management technology, and excels in financial modeling.
%26middot Skilled in researching and evaluating real estate market, economic, and demographic data.
%26middot Identifies customer needs through effective questioning and listening.
%26middot Maintains high-quality standards without compromising workflow efficiency.
%26middot Implements an organized system for follow-ups to ensure task resolution and completion.
%26middot Demonstrates sensitivity to customer needs, addressing concerns, and fostering positive relationships.
%26middot Proficient in operating standard office equipment and using required software applications.
%26middot Coordinates and delegates responsibilities effectively.
%26middot Identifies root causes of property operational issues and develops corrective actions.
%26middot Plans group initiatives and conducts analyses, meeting all required deadlines.
Ability to:
%26middot Lead and inspire others, fostering team unity and productivity.
%26middot Interpret policies and recommend modifications to enhance practices.
%26middot Organize, manage, and track tasks in a dynamic environment with accuracy.
%26middot Take initiative and act with foresight.
%26middot Work autonomously and thrive in team settings.
%26middot Pinpoint necessary tasks, devise timelines, and execute plans.
%26middot Establish and nurture effective working relationships within the organization and with external partners.
%26middot Project a positive and professional demeanor.
%26middot Communicate information clearly through various channels.
%26middot Identify patterns, draw logical conclusions, and interpret results for decision-making.
%26middot Evaluate asset management processes and provide guidance for improvement.
Educational/Previous Experience Requirements:
Bachelor%26rsquos Degree (B.A.) in related field and a minimum of five (10) years of relevant experience in institutional real estate investment. Supervisory and/or REIT experience preferred.
~or~
Any equivalent combination of experience, education, and/or training approved by Human Resources.
Licenses/Certifications:
Tax Credit Certification from a recognized agency. HCCP preferred.
Travel Required:
Up to 40%. Must have a valid drivers%26rsquo license and be eligible for coverage under the firm%26rsquos Vehicle Fleet Safety Policy to drive on company business.
Working Conditions:
Hours:
Normal business hours. Some additional hours may be required.
Working Environment:
Climate controlled office environment during normal business hours with exception of during travel
At Raymond James our associates use five guiding behaviors (Develop, Collaborate, Decide, Deliver, Improve) to deliver on the firm's core values of client-first, integrity, independence and a conservative, long-term view.
We expect our associates at all levels to:
