Vice President of Asset Management at ALCO Management – Memphis, Tennessee

Organization Overview
ALCO Management is a mission-driven property management organization dedicated to providing high-quality, affordable housing that strengthens communities and supports resident well-being. Through thoughtful stewardship of its portfolio, ALCO works to ensure that residents have access to safe, stable, and well-maintained homes while preserving long-term affordability across the communities it serves.

The organization currently manages a portfolio of more than 5,000 apartment homes and is pursuing a disciplined growth strategy that will expand the portfolio to 10,000 units by 2035. This growth is guided by a commitment to financial stewardship, operational excellence, and a deep focus on resident experience.

ALCO’s approach to asset management recognizes that housing stability plays a critical role in the health and opportunity of the families and individuals who call its communities home. By investing in strong property operations, proactive capital planning, and responsible portfolio oversight, ALCO seeks to protect long-term asset value while ensuring that each community remains a place where residents can thrive.

As the organization continues to grow, ALCO is strengthening the systems, processes, and leadership structures needed to scale responsibly while remaining grounded in its mission of providing quality housing and delivering a positive resident experience.

Position Overview
The Vice President of Asset Management leads ALCO’s portfolio strategy and performance oversight across ALCO’s portfolio of stabilized multi-family, affordable housing communities. This role is responsible for developing and executing multi-year business plans for each asset, strengthening capital planning discipline, proactively managing portfolio risk, and embedding data-driven decision-making across the organization.

Reporting to the Chief Financial Officer, the VP will design and scale the asset management function to support ALCO’s 2035 growth vision. This leader will oversee portfolio-level financial performance, guide capital allocation decisions, partner closely with Property Management leadership, and serve as the primary point of contact for investor and lender communications post-stabilization.

As ALCO advances from 5,000 toward 10,000 units, this role will institutionalize repeatable systems, clarify governance structures, and ensure disciplined portfolio management that protects performance while enabling responsible expansion.

ESSENTIAL DUTIES AND RESPONSIBILITIES

STRATEGIC PORTFOLIO LEADERSHIP

• Develop and implement rolling business plans for each stabilized property, integrating capital planning, operating performance, debt strategy, and long-term asset positioning appropriate for affordable, mission-driven, multi-family communities.
• Participate in ongoing portfolio performance reviews, identifying underperforming assets and collaborating on value-creating strategies.
• Lead analysis related to refinancing, recapitalization, debt restructuring, and property disposition decisions.
• Maximize property cash flow, Net Operating Income, and long-term value within the constraints of regulatory compliance and affordability commitments. Collaborate closely with property management partners to drive strong operational performance and resident outcomes.

CAPITAL PLANNING AND FINANCIAL STEWARDSHIP

• Partner with Finance to integrate asset-level projections into enterprise forecasting and liquidity planning
• Transition capital planning from an annual budgeting exercise to a structured, multi-year forecasting and allocation model.
• Align capital events with replacement reserves, operating cash flow, and long-term asset preservation strategies.
• Establish governance and approval thresholds that clarify decision rights between Asset Management and Property Management.

RISK MANAGEMENT AND ASSET PROTECTION

• Oversee portfolio-level risk management strategy, expanding beyond insurance into proactive mitigation planning.
• Monitor claims analytics, insurance performance, and emerging exposure trends.
• Partner with Property Management to integrate preventative maintenance, safety, and deferred maintenance planning into long-term asset strategy.

INVESTOR AND LENDER RELATIONS

• Own post-stabilization communications with tax credit investors and capital partners.
• Oversee submission of annual budgets, financial reporting, and compliance documentation required by investors and lenders.
• Focus on building positive and collaborative relationships with outside stakeholders as ALCO expands its capital base.
• Support future capital raising efforts by establishing disciplined, transparent reporting frameworks.

DATA, ANALYTICS, AND PERFORMANCE INFRASTRUCTURE

• Serve as Asset Management’s business partner to IT in the continued development of ALCO’s data platform and reporting systems.
• Define key performance metrics and embed data-driven decision frameworks into portfolio oversight.
• Lead development of dashboards and analytics that inform capital timing, refinance opportunities, and asset performance improvements.
• Ensure asset management operates proactively rather than reactively through a disciplined performance cadence.

ORGANIZATIONAL DESIGN AND PROCESS SCALE

• Document and standardize asset management processes to support repeatability and scalability.
• Design operating rhythms, review cadences, and governance structures that support a 10,000-unit portfolio.
• Build and lead a high-performing asset management team, including development pathways for emerging leaders.

TEAM LEADERSHIP AND DEVELOPMENT

• Provide strategic leadership and performance oversight for Asset Management team members.
• Establish clear expectations, performance standards, and professional development plans.
• Collaborate cross-functionally with Acquisitions and Development, Finance, Property Operations, Compliance, and IT to ensure alignment and execution.

WORK ENVIRONMENT
The Vice President of Asset Management will report to the Chief Financial Officer. They will work closely with the Acquisitions & Development and Operations teams.