Company: Cinnaire Corporation
Locations: Lansing, MI; Detroit, MI; Grand Rapids, MI; Chicago, IL; Indianapolis, IN; Madison, WI; Wilmington, DE
Job Function: Financial Services
WHO WE ARE
Cinnaire is a mission-driven organization. Our team of more than 130 individuals are united by our core purpose. As dedicated problem solvers, we start each day thinking ‘what kind of difference can we make in people’s lives today?’ and then go about revitalizing communities, empowering individuals and creating economic opportunities.
WHAT WE DO
We get involved. We spend time on the ground in the communities we serve, getting to know the people, understanding their challenges, and devising out-of-the-box solutions. Ours is a people-first approach to advancing communities. As a community development financial organization, we provide creative capital solutions to projects with high social value that may not otherwise receive support from traditional financial institutions. Our toolkit of services includes programs that lend funds, finance development and manage and build all the components of strong, vibrant communities.
HOW WE DO IT
We help community development organizations, lending partners and socially motivated investors accomplish goals in underserved communities. We fill gaps in community development funding by leveraging capital from public and private sector organizations and bringing expertise to communities that need it most.
WHERE WE SERVE
Since 1993, Cinnaire has funded affordable housing developments and community development initiatives throughout the Midwest and Mid-Atlantic states. Headquartered in Lansing Michigan, we have offices in Detroit and Grand Rapids, MI:, Milwaukee and Madison, WI; Chicago, IL; Indianapolis, IN; and Wilmington, DE, while providing financial and development support across our nine-state footprint including Michigan, Wisconsin, Minnesota, Indiana, Illinois, Pennsylvania, New Jersey, Delaware and Maryland.
The Vice President, Fund Management & Dispositions (VPFMD) is responsible for the management and oversight of the dispositions and fund management teams within the Asset Management Department. They are the direct line supervisor for the team overseeing all investor reporting and investor relations for the Cinnaire equity portfolio. They are responsible for creating, monitoring, and enhancing internal policy and procedure for the disposition of investments from the Cinnaire portfolio.
- Ensures that Cinnaire is providing asset management in accordance with the agreements executed with all investors.
- Provides Asset Management staff with the tools and guidance necessary to ensure compliance with the agreements executed with all investors in furtherance of Cinnaire’s mission.
- Develops staff goals and monitors progress toward achieving these goals.
- Assists in the coordination and delivery of quarterly investor reports, including individual property performance reports, watch list reports, fund-level financial statements, and benefit schedules.
- Reports out quarterly to the SVP of Asset Management and Executive Management Team regarding the performance of equity fund investments.
- Maintains relationships with investors to ensure that asset management services and reporting information meets or exceeds their expectations and their business needs.
- Maintains business relationships with investors, sponsors, accountant, attorneys, and property management staff involved in Cinnaire investments.
- Oversees Disposition Pipeline Report.
- Reviews upper-tier fund level partnership agreements relative to applicable lower-tier operating level disposition transactions.
- Creates disposition committee meeting packets and presides over Disposition Committee meetings.
- Presents approved disposition transactions to the CFO.
- Identifies information from the disposition process and transactions and provides feedback to Underwriting.
- Monitors staffing levels and works with the Senior Vice President of Asset Management to maintain appropriate staff levels.
Qualifications and Skills:
- BA/BS in real estate finance, economics, business, accounting or related field required.
- Seven years’ experience required in real estate development; finance, rent-restricted multifamily asset or property management; or community development; or commercial lending, commercial real estate development; finance, rent-restricted multifamily asset or property management; or community development.
- Preference to have 2 years’ experience managing a team overseeing property financials.
- Intellectual Agility: Can flex and adapt thinking skills to meet the needs of different situations and circumstances. Doesn’t limit problem solving to one approach or methodology.
- Resource Optimization: Applies knowledge of internal structures and existing talent to accomplish a goal.
- Leadership Development: Coaches and develops others by seeking to understand their strengths and development areas.
- Diversity Awareness: Identifies the benefits and advantages of harnessing the collective insights from various individuals in the organization.
Reporting Relationship: Reports to Senior Vice President, Asset Management
Supervisory Relationship: Disposition Relationship Managers, Disposition Analysts, Fund Managers and Fund Analysts.
- The ability to sit at a computer for extended periods of time.
- Ability to Travel
Travel Required: Up to 25%
Compensation and Benefits
Cinnaire offers a competitive compensation package.
Benefits Offered: Medical, Health Reimbursement Account, Flexible Spending Accounts (medical and dependent care), Dental, Vision, Life Insurance, Accidental Death & Dismemberment, Long-Term Disability, Employee Assistance Plan, Pet Insurance, Identity Theft Protection, Paid Mobile Phone Service, Unlimited PTO, Incentive Compensation, 403(b) Plan, and Profit-Sharing Plan.