Director of Property Management

Description

Director of Portfolio Management

Paths is a full-scale, vertically integrated affordable housing developer, builder, and operator. Since 2004, the Paths team created and preserved high-quality affordable housing across the U.S. that enhances communities and helps residents build better lives. With over 14,000 units across 13 states under management and more than 500 employees, Paths manages a suite of capabilities spanning the entire property life cycle, including development, construction, property management, maintenance, and security.

Summary/Objective: The Director of Portfolio Management will oversee the strategic and operational performance of a diverse portfolio of affordable housing properties. This role ensures financial integrity, compliance, and long-term sustainability, aligning with the organization's mission to provide quality affordable housing. This role will report directly to the Chief Financial Officer.

Classification: Exempt

Hybrid Schedule: 3 Days in the office/2 days' work from home

Location: New York, NY 10022

Essential function/Responsibilities: duties include but are not limited to the following:

Strategic And Financial Oversight

• Oversee monthly, quarterly, annual, and ad hoc financial reporting for investors and lenders, ensuring accuracy and timeliness.
• Lead asset- and portfolio-level analytics, including variance analysis, KPI tracking, and benchmarking, to assess performance and inform strategic decisions.
• Develop and execute initiatives to enhance portfolio value, including rent-setting strategies, vacancy and credit loss reduction, expense optimization, and capital improvement planning.
• Partner with internal teams across asset management, property operations, finance, compliance, development and construction to align asset and portfolio strategy and implement value and performance enhancing opportunities.
• Ensure full compliance with lender debt covenants by managing financial reporting obligations and proactively mitigating risks of breach or default.
  
  

Budgeting And Financial Reporting

• Work in conjunction with CFO to develop annual comprehensive budgets for each property, ensuring alignment with financial goals and organizational objectives. Facilitate investor budget review and approval.
• Generate monthly budget-to-actual variance analysis and provide detailed reports comparing actual financial performance against budgeted figures, identifying key variances and recommending corrective actions.
• Conduct Monthly Operating Reviews (MOR) and facilitate regular reviews with Regional Managers to assess operational performance, address challenges, and implement improvements.
• Develop and maintain financial and operational dashboard reporting to enable in-the-month and proactive asset and portfolio performance management.
• Conduct bi-annual financial and operational asset and portfolio benchmark assessments and identify / implement revenue, labor, and non-labor improvement opportunities.
• Develop and implement opportunities to optimize labor productivity while reducing or mitigating costly overtime. Analyze overtime data at property levels to identify trends and variances and develop strategies to optimize labor costs.
  
  

Procurement And Vendor Management

• Oversee the Head of Procurement, responsible for property-level, corporate, and construction-related procurement.
• Responsible for leading and managing the procurement function, including developing sourcing strategies, negotiating vendor contracts, and ensuring cost-effective purchasing of goods and services.
• Collaborates cross-functionally with Property Operations, Accounting & Finance, IT, Development, Construction, Legal, and other relevant Paths departments to optimize supply chain performance and mitigate risk.
• Oversee vendor selection, performance evaluation, and compliance with policies and generally accepted industry practices.
• Maximize discounts, volume-based spend, and rebates.
• Ensure procurement activities align with organizational goals, budgetary constraints, and project timelines.
• Ensure Paths Procurement is aligned with the investor's impact vision and mission.
  
  

Requirements

• Minimum of 10 years' experience in investor reporting and relationship management, portfolio management, asset management, or property management.
• In-depth understanding of real estate markets, including trends, cap rates, and financial metrics such as NOI, IRR, and cash-on-cash return.
• In-depth understanding of operations and capital budgeting, procurement strategy, and end-to-end supply chain management.
• Proven ability to lead cross-functional budgeting processes, develop cost-optimized procurement plans, and drive savings through vendor negotiations, volume-based pricing, and rebate structures.
• Advanced proficiency in financial analysis, budgeting, financial modeling, and performance tracking.
• Bachelor's degree in finance, real estate, business administration, or a related field. Advanced degree preferred.
• Highly proficient in Microsoft Office Suite, especially Excel and PowerPoint. Familiarity with Yardi Voyager platform.
  
  

Salary Range: $200,000 - $220,000

Benefits

• Medical Insurance: 100% of medical benefits paid for employees only
• Voluntary dental and vision plan options
• Bonus Eligible
• 401(K) available plus company match
• Paid Time Off
• 12 Paid Company Holidays
• Commuter Benefits
• Voluntary short-term disability, long-term disability, life insurance, dependent coverage
• Voluntary accident insurance, critical Illness insurance, and hospital indemnity Insurance
• Employee Referral Program
• Employee Assistant Program (EAP)
  
  

PMP

EOE Statement We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status or any other characteristic protected by law.