Director, Portfolio Management - Affordable Housing

TruAmerica Multifamily

Director, Portfolio Management - Affordable Housing

Full Time · $160,000 - $180,000 · Los Angeles, CA

A six-time Great Place to Work-Certified™ company, most recently in 2026.

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About TruAmerica

Founded in July 2013, TruAmerica Multifamily is a partnership between industry veteran Robert E. Hart and The Guardian Life Insurance Company of America. The company is based on the premise that tremendous upside potential remains in mid-tier apartment communities that can be unlocked through tailored renovation, repositioning strategies, and focused management. TruAmerica Multifamily is a privately held, fully integrated real estate investment firm that invests in apartment communities located in primary and secondary markets throughout the country. We continue to grow by selectively acquiring, redeveloping, and effectively managing multifamily properties. TruAmerica has grown to become a Top 25 apartment owner in the United States, according to the National Multifamily Housing Council (NMHC), and is the youngest manager in the NMHC Top 50. Today, TruAmerica has over 60,000 units in 25 high-growth markets and approximately $16 billion of assets under management.

Objective

The Director of Portfolio Management leads portfolio and fund management for TruAmerica's affordable housing division and owns all portfolio, fund, and partner reporting to the firm's institutional joint venture partner. The role runs recurring JV reporting and the major-decision approval process, and maintains the models and data that give Executive Leadership and the JV partner clear visibility into a growing portfolio of Low-Income Housing Tax Credit (LIHTC) and regulated affordable multifamily assets. This position reports to the Managing Director, Affordable Housing.

Responsibilities

JV Partner Reporting & Relationship Management

• Serve as the JV partner's day-to-day contact for all portfolio, fund, and asset-level reporting and data requests.
• Own the production, quality control, and timely delivery of all monthly, quarterly, and annual reporting required under the JV and partnership agreements.
• Prepare materials for monthly JV partner meetings and quarterly portfolio reviews, and track follow-up items.
• Manage the major-decision approval process, preparing approval memos for budgets, capital plans, refinancings, dispositions, and other items requiring partner consent.
• Maintain a reporting calendar for all JV, partnership, lender, and investor obligations, and coordinate with the JV partner on valuations, audits, and year-end close.

Fund & Partnership Reporting

• Lead fund- and partnership-level analysis and reporting across the JV GP entities and LIHTC partnerships.
• Maintain portfolio and fund models, including hold-period projections, waterfalls, and partner returns.
• Oversee reporting to tax credit investors, syndicators, and lenders, and coordinate audits, K-1s, and tax filings.
• Track partnership agreement obligations such as reserves, guarantees, deferred developer fee, credit adjusters, and LP consent rights.

Portfolio Performance & Governance

• Monitor portfolio performance against business plans, underwriting, regulatory rent limits, and partner return objectives, and flag emerging risks early.
• Run monthly portfolio reviews with Asset Management and maintain a watchlist of underperforming assets, compliance risks, and upcoming capital events.
• Oversee the annual budget process, including review and partner approval of operating and capital budgets.
• Recommend refinancings, resyndications, recapitalizations, dispositions, and partnership exits.

Affordable Housing Compliance & Regulatory Oversight

• Partner with Asset Management and property managers to monitor compliance with Section 42, regulatory agreements, LURAs, bond requirements, and HUD/HAP contracts.
• Track rent and income limits, set-asides, recertifications, inspections, and findings, and escalate material issues to the JV partner and Executive Leadership.
• Monitor welfare exemption filings and agency reporting deadlines, including CTCAC, CDLAC, state housing finance agencies, and bond issuers.

Capital & Cash Management

• Oversee cash management, liquidity, reserves, and cash flow forecasting across the portfolio.
• Prepare distribution and waterfall calculations, and monitor debt covenants, maturities, rate exposure, and reserve requirements.
• Partner with Acquisitions and Capital Markets on acquisitions, refinancings, and resyndications, including partner approval packages and post-closing reporting.

Portfolio Technology & Data Management

• Build a scalable reporting framework that integrates property, partnership, and JV-level data, supported by dashboards, KPIs, and automated reporting.
• Oversee RealPage and other reporting platforms, and standardize charts of accounts, reporting packages, and monthly close deliverables across property managers.

Cross-Functional Leadership & Management

• Coordinate internal teams and property managers, and track IC and partner decisions to completion.
• Develop standardized reporting procedures and governance processes for the affordable housing division.
• Supervise and develop Associate Directors, Managers, Analysts, and Interns, and lead special projects as needed.

Qualifications

• Bachelor's degree in Finance, Real Estate, Economics, Accounting, or a related field; MBA, CFA, or CPA preferred.
• 7+ years of real estate investment experience, including 5+ years in affordable housing, LIHTC, or regulated multifamily portfolio, asset, or fund management.
• Strong knowledge of LIHTC partnership structures, 4% and 9% tax credits, tax-exempt bond financing, Section 42 compliance, and tax credit investor reporting.
• Experience managing reporting and approvals for institutional JV partners or investors, including administering partnership and JV agreements.
• Advanced Excel and financial modeling skills, including partnership waterfalls; experience with RealPage, Yardi, and Power BI preferred.
• Ability to turn complex information into clear recommendations, with strong attention to detail.
• Excellent written and verbal communication skills, with experience presenting to Executive Leadership, Investment Committees, and institutional partners.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the position.

• Ability to sit for up to 10 hours per day.
• Ability to move freely around the office for up to 10 hours per day.
• Ability to communicate verbally and in writing.

Compensation

The base salary range for this role is $160,000 to $180,000. This position is also eligible for a discretionary bonus.

Applications are accepted on an ongoing basis until the position is filled.

Why You'll Love Working at TruAmerica

TruAmerica Multifamily is a six-time Great Place to Work-Certified™ company, most recently in 2026, and we invest in our colleagues the same way we invest in our communities. Eligible colleagues receive a comprehensive benefits package, including:

• Medical, dental, and vision: TruAmerica covers 100% of the employee premium for base medical plans, and dental, vision, life insurance, long-term disability, and AD&D are 100% employer-paid. TruAmerica also contributes toward the cost of dependent coverage.
• 401(k) retirement plan with a company match.
• Vacation, sick, and holidays: a vacation allowance that grows with tenure (up to 21 days), generous paid sick leave, and 10+ paid holidays, plus your birthday, cultural and ethnic observance days, and company-sponsored volunteer days.
• Pre-tax savings: Health and Dependent Care Flexible Spending Accounts (FSA/DCA).
• Plan flexibility: choice of a national Blue Cross Blue Shield PPO or HMO, plus regional plan options where available.

Benefits described are representative of those offered to eligible full-time colleagues and may vary by position, location, and eligibility. This summary is general and does not create a contract or guarantee of any particular benefit.

Equal Opportunity Employer

TruAmerica Multifamily is an equal opportunity employer that is committed to diversity and inclusion in the workplace. We prohibit discrimination and harassment of any kind based on race, color, sex, religion, sexual orientation, gender identity, national origin, age, disability, genetic information, pregnancy, veteran status, or any other characteristic protected by federal, state, or local laws.

This policy applies to all employment practices within our organization, including hiring, recruiting, promotion, termination, layoff, recall, leave of absence, compensation, benefits, training, and internships. TruAmerica Multifamily makes hiring decisions based solely on qualifications, merit, and business needs at the time.

ADA / Reasonable Accommodation

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the position.

Work Authorization

Applicants must be legally authorized to work in the United States. TruAmerica participates in employment eligibility verification as required by law.

Conditional Offer / Background Check

Any offer of employment is contingent upon the satisfactory completion of a background check and reference verification. Consistent with applicable Fair Chance and Ban-the-Box laws, TruAmerica will consider qualified applicants with criminal histories in a manner consistent with the law and will conduct an individualized assessment before withdrawing any conditional offer.

At-Will Employment

This job description is not a contract of employment and does not alter the at-will nature of employment with TruAmerica Multifamily. Employment may be terminated by either the employee or the company at any time, with or without cause or notice, to the extent permitted by law. TruAmerica reserves the right to modify the duties and responsibilities of this position at any time.

Applicant Privacy Notice

TruAmerica Multifamily collects personal information from applicants solely for recruitment and hiring purposes, in accordance with applicable data privacy laws. Categories of information collected may include identifiers (such as name and contact information), professional or employment-related information (such as resume, work history, and references), and education information. This information is used to evaluate your candidacy, communicate with you regarding the application process, and comply with applicable legal obligations. TruAmerica does not sell applicant personal information. Information is retained only as long as necessary for these purposes or as otherwise required by law.

No Recruiters / No Agencies

TruAmerica Multifamily has an internal Talent Acquisition team that manages all recruiting for our open positions. We are not accepting unsolicited assistance from search firms, staffing agencies, or third-party recruiters for this role.

Please do not forward resumes, candidate profiles, or contact information to our employees, hiring managers, or any TruAmerica email address or office location. TruAmerica will not be responsible for any fees related to unsolicited resumes, and any such submissions will be considered the property of TruAmerica with no obligation to pay a placement or referral fee. Agencies wishing to be considered as a future search partner must be engaged directly and in writing by TruAmerica's Talent Acquisition team prior to submitting any candidates.