Lead Director, Asset Management

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Position Summary

As an Asset Management Lead Director, you will leverage your experience and forward-thinking approach to oversee the asset management process, maximizing the total return of Aetna’s real estate investment portfolio, which includes (1) mortgage loans, (2) affordable housing/low-income housing tax credit (LIHTC) equity investments and (3) joint venture equity investments (JVs). 

You will be a vital member of Aetna’s Real Estate Investment (REI) team, reporting directly to the Head of Real Estate Investments. Your daily focus will be on asset management, with the opportunity to lead a newly created asset management group. To deepen your understanding of the affordable housing/LIHTC portfolio and gain insights into Aetna’s current portfolio, you will work closely with a Senior Investment Manager who specializes in affordable housing investments.  Given the significant growth of the investment portfolio, there is a pressing need to evolve and strengthen the asset management process and team capabilities. 

In this role, you will play a crucial role in managing the performance and risk of each investment. Your responsibilities will include enhancing processes related to data base improvements, update and all Policy and Procedures as needed for all loan and equity investments, and staff training and development.  

Key functions of this role will encompass, but are not limited to, (1) asset performance monitoring, (2) post-close risk management, (3) portfolio reporting and forecasting, and (4) new investment production support. 

You will utilize Aetna’s proprietary technologies to enhance portfolio oversight, streamline reporting, improve data accuracy, and provide sharper insights across all real estate investments. Collaboration with Investment Managers and Aetna’s IT department will be essential as you work on enhancing current systems with new technology software to improve reporting functions and effectively manage the portfolio, delivering meaningful operational improvements.

This is an exciting opportunity to help shape an evolving asset management function within a dynamic, growing team that values integrity, accuracy, and innovation in every aspect of its work.  Your strong expertise in financial forecasting and reporting, property operations & asset valuation, and fund-level investment management, combined with a solid understanding of the affordable housing industry, will be key to your success.  A collaborative approach, strong work ethic, demonstrated career advancement and a commitment to continuous skill development are essential attributes for this role.

Additional Job Duties & Responsibilities:

Performance Monitoring:

Overall:

Oversee the asset management, portfolio management and reporting functions including portfolio metrics and forecasting of financial performance for all three types of real estate investments.

Commercial Mortgages & JV Equity:

Manage a portfolio of commercial mortgage loans, including monitoring property operations, conducting annual risk assessments including analyzing the financial results and preparing a valuation for each asset. Identify any weaknesses that may negatively impact loan repayment and finalize the annual reviews by updating all data metrics, including implementing a final risk rating within Aetna’s mortgage information management system (MIMs). Additionally, ensure compliance with legal loan documents including all reporting requirements from each borrower/property owner.

Affordable Housing:

• Develop a comprehensive understanding of the affordable housing industry, particularly the low-income housing tax credit (LIHTC) sector, including a full understanding of all financial and tax related matters.

• Ensure timely and complete quarterly and annual reporting from each Fund Manager (Syndicator) in accordance with fund partnership agreements.

• Analyze quarterly fund reports, financial statements, and actual tax benefits of each partnership investment to assess overall fund health and actual fund performance compared to initial projections.

• Review and assess industry risk ratings assigned by Fund Managers for properties within the LITHC portfolio, ensuring consistency with AH