Senior Vice President Residential Asset Management
Investor’s Real Estate Trust in Minot, North Dakota

Position Title: Senior Vice President Residential Asset Management
Reports To: COO
FLMA Status: Exempt

Summary

Provides overall leadership, policy development and management for all aspects of the IRET Residential portfolio by performing the following duties personally or through subordinate staff.

Essential Duties and Responsibilities (include the following. Other duties may be assigned)

Internal Property Management

Develop and implement a comprehensive internal property management operation including development of staffing plan and office locations.

Identify, recruit and hire necessary senior staff to implement internal management plan.

Develop and implement in coordination with IRET property management accounting department industry standard financial reporting processes and procedures to track and measure performance of residential portfolio

Budget & Finance

Supervises and reviews the preparation of annual budgets and monitor compliance and variations.

Ensure that specifications exist for large capital projects and that a minimum of three bids are received. Approves proposed capital improvements and large repair items.

Develop program to provide for monthly review of all income and expense reports, and integration templates including follow up on discrepancies or errors.

Develop and implement a preventative maintenance programs, monitors properties for safety and liability issues.

Asset Management

Responsible for directing overall asset management of residential portfolio including oversight of property management, leasing, tenant relations, budgets, capital improvements, financial analysis of properties, acquisitions and dispositions.

Development and implementation and bi-annual review for compliance of minimum property standards

Interface with IRET residential asset managers on property issues and concerns.

Prepare executive level residential report and attend regularly scheduled asset management meetings and Board meetings.

Oversee and manage third party management contracts for the properties that are not self managed.

Develop and Implementation of standard documents for management reporting.

Schedule On-site visits and inspections to all properties at least twice per year. Provide direction and assistance to residential asset managers to ensure thorough and uniform inspections with necessary follow up and corrective action.

Develop and implement residential acquisition and development program in IRET's identified markets.

Work with public entities, architects, contractors and property management firms on new construction projects.

Work with other IRET staff on property database, site plans, blue prints, acquisition analyses, due diligence, inspection reports and site surveys.

New Construction

Along with the Director of Construction, collaborate on all aspects of new construction projects.

Evaluates specifications, plan procedures, and timelines for each phase. Monitors the process to ensure quality work and adherence to schedules and budget. Resolves any problems.

Acts as public spokesperson to public and regulatory agencies. Conducts all construction activities according to federal, state, and local environmental rules and regulations.

Leasing

Monitor market conditions and vacancy rates for properties to ensure IRET portfolio meets or exceeds market conditions.

Authorizations

Contractual authority up to $250,000. May authorize own business travel. Has a company credit card with a $5,000 limit.

Supervisory Responsibilities

Directly supervises residential asset management staff and indirectly oversees residential property management staff.

Oversees third party vendors when applicable.

Directly supervises Administrative Assistant - Asset Management.

Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.

Competencies

Analytical - Synthesizes complex or diverse information; Uses intuition and experience to complement data; Designs work flows and procedures.

Project Management - Develops project plans; Coordinates projects; Communicates changes and progress; Manages project team activities.

Interpersonal Skills - Maintains confidentiality.

Oral Communication - Demonstrates group presentation skills; Participates in meetings.

Written Communication - Able to read and interpret written information.

Teamwork - Exhibits objectivity and openness to others' views; Gives and welcomes feedback; Able to build morale and group commitments to goals and objectives.

Change Management - Develops workable implementation plans; Communicates changes effectively; Monitors transition and evaluates results.

Leadership - Exhibits confidence in self and others; Inspires and motivates others to perform well; Effectively influences actions and opinions of others; Accepts feedback from others; Gives appropriate recognition to others.

Business Acumen - Understands business implications of decisions; Displays orientation to profitability; Demonstrates knowledge of market and competition; Aligns work with strategic goals.

Cost Consciousness - Works within approved budget; Develops and implements cost saving measures; Contributes to profits and revenue; Conserves organizational resources.

Ethics - Treats people with respect; Inspires the trust of others; Works with integrity and ethically; Upholds organizational values.

Judgment - Exhibits sound and accurate judgment; Supports and explains reasoning for decisions; Includes appropriate people in decision-making process.

Professionalism - Reacts well under pressure; Treats others with respect and consideration regardless of their status or position; Accepts responsibility for own actions.

Dependability - Commits to long hours of work when necessary to reach goals.

Initiative - Takes independent actions and calculated risks; Looks for and takes advantage of opportunities.

Innovation - Displays original thinking and creativity; Meets challenges with resourcefulness; Develops innovative approaches and ideas.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience

Bachelor's degree (B. A.) or equivalent; or four to ten years related experience and/or training; or equivalent combination of education and experience.

Language Skills

Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.

Mathematical Skills

Ability to work with mathematical concepts such as probability and statistical inference, rate risk and market trends. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

Reasoning Ability

Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.

Computer Skills

To perform this job successfully, an individual should have knowledge of Spreadsheet software and Word Processing software.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this Job, the employee is regularly required to talk or hear. The employee is frequently required to stand; walk and sit. The employee is occasionally required to use hands to finger, handle, or feel; reach with hands and arms; climb or balance and stoop, kneel, crouch, or crawl. Specific vision abilities required by this job include close vision, distance vision and ability to adjust focus.

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this Job, the employee is occasionally exposed to moving mechanical parts; fumes or airborne particles and outside weather conditions.

The noise level in the work environment is usually moderate.

APPLICATION PROCESS

To learn more about this opportunity or to express interest, please contact The PACE Group:

Daniel Logan
dlogan@thepacegroup.com
662.842.1818