Director of Asset Management
The Johns Hopkins University:
The Johns Hopkins University is one of the world’s leading research universities. Based in Baltimore, Maryland, the University comprises 10 academic and research divisions and numerous centers, institutes, and affiliated entities throughout the Baltimore-Washington area and abroad. Divisions of the university include: the Zanvyl Krieger School of Arts and Sciences, the G.W.C. Whiting School of Engineering, and the School of Education on the Homewood campus; the School of Medicine, the Bloomberg School of Public Health, and the School of Nursing located nearby in East Baltimore; the Peabody Institute and the Carey Business School in downtown Baltimore; the Paul H. Nitze School of Advanced International Studies in Washington, D.C. with campuses in Bologna, Italy and Nanjing, China; and the Applied Physics Laboratory in Laurel, Maryland. In the fall term of academic year 2017-2018 Johns Hopkins had a total enrollment of 25,151 students. The University attracts the finest undergraduate, graduate, and professional students and more federal research and development funding than any other university in the United States.
The mission of the University is to educate its students and cultivate their capacity for life-long learning, to foster independent and original research, and to bring the benefits of discovery to the world. Johns Hopkin’s real estate initiatives are closely tied to both the mission of the university as well as President Daniels’ vision for the university as expressed in his Ten by Twenty goals. Johns Hopkins is extraordinarily entrepreneurial and excellence-driven, and this entrepreneurial spirit generates the innovation for which Johns Hopkins is known internationally—innovation that often happens through collaborations that harness complementary strengths to find solutions to our greatest societal, philosophical, and scientific challenges.
The Johns Hopkins Medicine:
The mission of Johns Hopkins Medicine is to improve the health of the community and the world by setting the standard of excellence in medical education, research and clinical care. Diverse and inclusive, Johns Hopkins Medicine educates medical students, scientists, health care professionals and the public; conducts biomedical research; and provides patient-centered medicine to prevent, diagnose and treat human illness. Johns Hopkins Medicine pushes the boundaries of discovery, transforms health care, advances medical education and creates hope for humanity.
In 1997, leaders of the Johns Hopkins University School of Medicine and the Johns Hopkins Health System Corporation came together to form Johns Hopkins Medicine, and this blended governance structure has contributed to the success of the organizational mission – excellence in patient care, research and education. Johns Hopkins Medicine employs more than 40,000 full-time faculty and staff members, making it among Maryland’s largest private employers and the largest in Baltimore City. Johns Hopkins Medicine operates six academic and community hospitals, four suburban health care and surgery centers, and has more than 2.8 million outpatient encounters per year.
The Director of Asset Management is a newly created position reporting directly to the Chief Real Estate Officer (CREO) and is responsible for establishing the strategic policy and providing leadership and oversight to internal Asset Manager(s) and third party property management firms contracted by the University on multiple campuses. The Director of Asset Management works closely with the Director of Leasing to ensure efficient use of space resources by revaluating needs and effectively structuring leases in both owned and third party buildings. The Director will be expected to serve a visible leadership role within the organization, and they must be a strong communicator, collaborator, problem-solver, and leader both internally and externally. In addition, the Director will need to be a subject matter expert in their field who is willing to play a hands-on role when necessary. Leading by example with minimal ego and a team-first mentality will be paramount.
The Director of Asset Management is the senior level institutional representative of the building customers (tenants) and stakeholders located on the campuses and in third party properties, including operational, financial, strategic planning, special projects and logistical / crisis response, and provides oversight to contracted firms, managers, engineers, administrative support, security and custodial services. The Director of Asset Management interacts regularly with senior university leadership, real estate leasing team, the accounting and budgeting teams, as well as the internal Planning & Architecture and Design & Construction groups. The Director will provide oversight and quality control of financial analysis related to capital decisions, asset procurement, asset and capital improvement budgeting, long term strategic asset management plans, management coordination, and stakeholder communications.
The wholly owned portfolio includes 19 buildings with approximately 2.1 million square feet and an aggregate annual operating budget in excess of $60 million plus related capital projects. The University also leases over two million square feet of space in third party buildings, owns a hotel / conference center under third party management, has several ground leases to third parties, owns a residential portfolio of 265 units in four properties, and is considering other significant prospective development sites. Third party property management firms and their teams of onsite professionals manage and direct the daily operations of the wholly owned portfolio under direction of the internal Asset Manager(s) who are the two direct reports to the Director position. The Director of Asset Management assumes a leadership role and interfaces with both University and Medicine for Johns Hopkins.
Essential Job Functions
- Manage and lead the Asset Manager(s) and property management teams of the properties to ensure achievement of specified operational objectives related to leasing, capital improvements, system enhancements, customer satisfaction, operating expense control, strategic planning, identification and resolution of property and risk management issues, contract negotiation and administration, management of third party vendors, sustainability efforts, emergency management and other applicable areas.
- Provide strategic guidance to Asset Manager(s) and staff for budgets and capital planning to ensure short and long term planning is in place to maintain the building value and infrastructure of the building, and enhance the operations.
- Work effectively and collaboratively with a number of stakeholders including Johns Hopkins University and Health System leadership, the real estate team, the accounting and budgeting teams, schools, division and department leadership, tenant representatives, the campus security team, third party vendors, and local community groups.
- Work closely with key stakeholders on project management outlining goals / objectives, deliverables, required resources, project budget and timing as applicable. Collaborate with internal building tenants, stakeholders, and third property management firms, and Campus Security to prepare annual operating budgets, financial reporting, capital improvement plans and major contracts.
- Serve as the visible leader of the Asset Management team with building customers and key stakeholders to quickly and effectively resolve problems, communicate work schedules/impact and levels of satisfaction with completed work. Champion, foster, and maintain a culture of superior customer service and relationship management by being proactive and responsive to tenants needs. Conduct regular meetings with occupants to hear and understand needs and concerns.
- Full authority to review, approve, and present to CREO and Divisional Business Officers (DBOs) all operating budgets, financial reporting, and capital improvement plans.
- Establish review processes and analyses to proactively monitor property financial performance, variances against budgets, expense and income drivers and recommend actions accordingly.
- Provide guidance to Asset Managers in the oversight of onsite teams to explore and implement opportunities to enhance the property management monthly financial reporting, variance analysis, and ensure timely and effective communication of performance results including meetings with key stakeholders. Selectively, the Director will also provide hands-on support in these areas when the workload demands it.
- Set guidelines and expectations for self and reports on regular property visits and inspections, assessing and monitoring adequacy of staffing levels for various operating areas, evaluation of project status / completion and implementation of building standards.
- Responsible for the hiring, managing and leading of the Asset Manager(s) and staff servicing the portfolio. Work with the onsite team as well as the applicable corporate third party personnel.
- Serve as an effective convener and communicator to executive management (University Leadership and Division Directors, DBOs, JHHS Vice Presidents / Directors) of all critical asset management issues relative to the assigned portfolio. Ensure that Asset Managers understand their role and expectations in this process.
- Participate in the strategic formulation and oversight of special project efforts for the campuses and participate in applicable enterprise committees representing Real Estate, such as Crisis Management, ADA Compliance, and Strategic Planning.
- Define and manage strategic initiatives / special projects in support of the buildings, enterprise or business unit goals and objectives such as stakeholder meetings, surveys, and food service options.
- Develop and maintain critical internal / external relationships within the broader Hopkins enterprise (University and Medicine) to accomplish objectives. Ensure that Asset Managers are building relationships across the enterprise as well.
- Develop and maintain standard operating policies, procedures, systems, reports and internal controls for property, facilities and asset management.
- Participate in the local environment, ensuring the building and campus is considered a community asset in the community, working closely internally with Hopkins Community and Government Affairs, and externally with the adjacent neighborhoods / communities where the asset is located.
Essential Knowledge, Skills and Abilities:
- Thoughtful listener, strategic thinker, strong communicator and negotiator with unquestionable integrity. Ability to foster a collaborative, inclusive, collegial, and consensus-building relationships at all levels of Johns Hopkins based on competence, trust and respect. Always aim to represent the interests of Johns Hopkins while maintaining the utmost integrity.
- Strong financial, analytical, and mathematical skills in order to guide and analyze budgets, have oversight of Asset Manager(s), accountants and teams in evaluating bids, proposals and asset pro forma development.
- A consensus builder with vision, comfort facilitating change, patience, flexibility, and an ability to engage extraordinarily bright people in difficult and challenging decisions.
- Ability to understand complex legal documents such as joint venture agreements, construction contracts, land contracts, title restrictions, permanent and construction financing agreements, and other documents related to the portfolio.
- Highly motivated and proficient at managing teams and multiple tasks with the ability to maintain high personal and professional standards while under pressure.
- Composed demeanor, professional appearance, positive attitude, customer-oriented, and ability to effectively interact with people at all levels.
- Excellent project management skills including the ability to prioritize and balance competing activities on multiple projects. Operational experience with a variety of building types and systems.
- Ability to effectively prioritize, exercise good judgment and discretion, and take initiative as appropriate to keep processes moving forward and effectively manage in all directions.
- Experienced in prioritizing day to day operational issues coupled with a leadership role in longer term departmental initiatives.
- Technologically proficient with Microsoft office applications and industry / property accounting software.
- Ability to work flexible or extended hours to accommodate increased workload / projects, manage asset related matters, and attend industry-related meetings or events in the evenings and on weekends.
Education & Experience
- Bachelor’s Degree in Business Administration, Accounting, Real Estate, or related field required. Related advance degree and recognized industry certifications preferred.
- Ten or more years of experience of progressively increasing responsibility in commercial real estate / property management including team leadership.
- Applicable industry certification preferred.
- Proven supervisory and leadership experience required to manage teams of people including other managers, technicians, vendors and contractors.
Johns Hopkins University has retained Helbling & Associates to assist in the search for the Director of Asset Management. Nomination, inquiries, and applications may be sent in confidence to:
Wendy Zang, Managing Consultant
+(724) 935-7500, x116
This position specification is a general statement of required major duties and responsibilities performed on a regular and continuous basis. It does not exclude other duties as assigned.
Johns Hopkins University is an equal opportunity employer and does not discriminate on the basis of gender, marital status, pregnancy, race, color, ethnicity, national origin, age, disability, religion, sexual orientation, gender identity or expression, veteran status, other legally protected characteristics or any other occupationally irrelevant criteria. The University promotes Affirmative Action for minorities, women, individuals who are disabled, and veterans. Johns Hopkins University is a drug-free, smoke-free workplace