Sr. Director, Sponsor Resolution

Company: Enterprise Community Partners
Location: Columbia
Posted on: October 8, 2024

Job Description:

Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $72 billion and created 1 million homes across all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands - all to make home and community places of pride, power and belonging.Join us at enterprisecommunity.orgWorking at EnterpriseAt Enterprise, you'll be part of a diverse, committed team making a difference every day. You will collaborate with some of the smartest minds and biggest hearts in our field. You'll be empowered to drive systems change and take bold steps to advance racial equity. And you will find a career home where you're valued and supported in your growth journey.Enterprise offers career opportunities in our with an.Job Description SummaryIn the newly created role of Sr. Director, Sponsor Resolution, the candidate will work on Sponsor issues with teams that span the organization's capital business lines, including our Community Development Financial Institution (CDFI), housing credit investments (EHCI), real estate equity (REE) and the asset management teams that support these capital lines. The Sr. Director will lead the team and report directly to the SVP, Asset Management in EHCI. The Sponsor Resolution team in Asset Management is responsible for actively managing risks to Sponsors in our national portfolio by performing duties such as conducting Sponsor assessments, monitoring Sponsor health, analytical problem-solving, strategic engagement with the stakeholders of their portfolio of assets with a high degree of customer service, while gathering and sharing information from a diverse array of markets and programs.Job DescriptionResponsibilities: The Sr. Director, -Sponsor Resolution will:

• Lead and develop a team of approximately 3 people to deliver a high-quality work product, excellent customer service and proactive risk management of the portfolio.
• Work with SVP to develop team goals and staffing plans for professional development and training as needed.
• Support the Sponsor Resolution team in building processes and tools that are applied consistently across Sponsor assessments, improve transparency in ECAM and engage with relevant partners and stakeholders to address issues.
• Manage a portfolio of Sponsor relationships; assist and provide guidance around working through complex issues and problems within the assigned portfolio; and raise concerns with the Sr. Director as appropriate.
• Conducts Sponsor assessments by attending site visits, reviewing REO, organizational structure and property management systems and providing technical assistance; identify and prioritize financial issues for resolution; and identify, prioritize and follow-up on problems/issues with projects and/or credits, and work with general partners to help resolve issues.
• Ensure critical tracking and maintenance of information, including Sponsor assessments and internal/external engagement for the assigned portfolio.
• Provide guidance and recommendations for the use of sponsor-level Troubled Project Support, Enterprise Workout Loans and Project Performance Reserves as needed.
• Coordinate with peers and the Director to respond to ad hoc senior management/investor requests and portfolio questions as efficiently as possible.
• May oversee a small portfolio of Real Estate Owned (REO) properties where an Enterprise entity has assumed a General Partner interest in order to protect the interests of investors and preserve the housing for the tenants;
• Work with Sponsors, funders and regulatory agencies to find solutions to on-going problems; solutions may include removal of property management firms, selling REO; restructuring debt; Qualifications:
  • Bachelor's degree or equivalent is required, preferably in Business, Public Policy, Urban Planning, or related discipline. Master's degree a plus.
  • 12-15 years real estate, finance and/or property management, accounting experience required, with LIHTC experience preferred.
  • Management experience
  • Extensive knowledge of LIHTC and ability to advise others in LIHTC program regulations.
  • Strong Excel and Database skills (Salesforce experience a plus).
  • Familiarity with various subsidy and grant. programs such as HOME, Section 8, SRO, NAHASDA, HOPWA, VA and Continuum of Care.
  • Strong real estate financial and analytical skills, including underwriting/deal structure, comparative analysis, audit review and identification of underlying performance issues.
  • The ability to lead groups of diverse stakeholders (GP/PM/legal counsel/state agencies, investors) through project level discussions.
  • Strong negotiation skills with demonstrated ability to work through complex issues, not only understanding our goals, but also acknowledging the goals of the person with whom we are negotiating, determining their motive(s) and minimum needs, and negotiating for a win-win outcome.
  • Ability to work independently and multi-task with competing deadlines during peak reporting times.
  • Possesses critical thinking skills, offering opinions and a decisive course of action based on analysis of the fact set, drawing on internal staff across the department and/or business lines to support final recommendation.
  • Incumbent is expected to demonstrate strong ethics in interpersonal relations and work as an effective, collaborative team member across Asset Management and Enterprise.
  • Seeks opportunities to improve current systems/processes/tools, understanding that innovation is valued in our culture.
  • Ability to have flexibility with work schedule.
  • Able to travel as necessary to accomplish the goals for the position.Physical Demands/Working Conditions:
    • Ability to climb stairs offsite at project sites.
    • When visiting project sites, incumbent may be exposed to varying environmental conditions (e.g., outdoor weather, dirt, dust, and other construction work site hazards).
    • Valid driver's license required.Total Rewards at Enterprise:You will be working with a group of talented professionals who are motivated by serving the community and addressing the need for affordable housing.Enterprise offers a comprehensive total rewards package for you and your family.The base salary for this role is $185,000 to $205,000, depending on level of skills and experience.The salary range for this position is represented by the low and high end of the range for the amount to be paid for the position. Salaries paid at Enterprise will vary based on factors that may include skills, education, location, experience, and performance. The salary range is just a part of the total rewards package provided to employees at Enterprise, and other rewards may include annual performance bonuses and generous paid leave programs.At Enterprise, our benefits form a major component of our total rewards package. Benefits include dental, health, and vision care plans, as well as family-building benefits, such as fertility, adoption, surrogacy support, and gender-affirming care. Enterprise allows flexible work arrangements to promote a better work-life balance. We offer health advocacy, EAP, and mental health benefits. We round out our total rewards package by offering financial education, wellness programs, and auto-enrollment in the company's 401(k) plan with employer matching contributions. Finally, you will have learning and development opportunities, including tuition reimbursement for job-related courses and certifications. Thank you for your interest in joining the Enterprise team in our effort and commitment to serve others.

Keywords: Enterprise Community Partners, Potomac , Sr. Director, Sponsor Resolution, Executive , Columbia, Maryland