Manager of Asset Management

Benchmark has been a trailblazer in senior living for nearly 30 years, operating 68 communities with 7,400 associates across the Northeast. With $3 billion in assets under management and $700 million in annual revenue, the company is experiencing historic growth, expanding its footprint from Boston to Washington DC. Benchmark offers independent living, assisted living, memory care, and continuing care
To meet this demand, senior housing development must nearly double historical levels over the next two decades. Benchmark is outpacing industry growth, backed by prominent investors such as KKR, Prudential Financial, Omega Healthcare Investors, and Ventas, Inc. Its brand strength is reflected in its 62 Best Senior Living Community awards from U.S. News & World Report in 2024, far exceeding industry averages.

Benchmark’s success is deeply rooted in its people. The company’s purpose – Transforming Lives Through Human Connection – is lived daily by associates who embody its core values: Called to Care, Better Together, and Be the Benchmark. Recognized as a Top Place to Work by The Boston Globe for 18 consecutive years and certified as a Great Place to Work for eight years, Benchmark fosters a culture of inclusion, growth, and recognition. It supports employees through initiatives like an associate grant program called One Company Fund, Benchmark University, an Inclusion Advisory Council, and a Cultural Ambassadors program. With over 500 associates boasting 15-plus years of tenure, and an annual gala celebrating excellence, Benchmark continues to be a destination for meaningful careers and compassionate care – setting the standard in senior living.
retirement communities, positioning itself as a leader within this growing real estate sector. Senior housing has consistently ranked among the top three real estate sectors for long-term investment returns, and with the Baby Boomer 80+ population projected to grow over 5% annually through 2030, demand is surging.

The Asset Manager is critical to creating value across Benchmark Senior Living's operating portfolio, helping to set and execute strategic and operational initiatives that maximize returns on assigned portfolio assets. This will be achieved by understanding and managing analysis related to operating teams, utilizing strong analytical skills and insights to identify issues and opportunities, and working with leadership to develop and execute action plans. Benchmark is seeking a driven, passionate, and teachable individual who has a desire to drive results.

JOB RESPONSIBILITIES

Property Owner/Investor Relations

• Cultivate and maintain strong relationships with internal and external investors, and key stakeholders.
• Manage investor relationships by updating monthly financial reporting packages and leading monthly financial performance calls.
• Review and analyze operating results; present findings to operations, asset management, and leadership teams.
• Work closely with Operations, FP&A, and Accounting teams to ensure properties are performing to budgeted expectations.

Grow NOI and Property Value

• Responsible for managing a portfolio of assets across multiple regions and various investor portfolios.
• Focus on enhancing asset value by actively analyzing monthly financial results and developing strategic plans to improve profitability, ensuring communities meet debt service requirements.
• Monitor occupancy trends and provide updates for material changes to annual forecasts.
• Partner with the Benchmark operations team to improve community NOI and drive corporate initiatives.
• Partner with FP&A and investors on budget and strategic business plan process for the assigned portfolio.
• Identify and execute areas for operational improvement, partner with cross-functional teams to execute initiatives and evaluate performance.
• Proactively drive priorities and analytics related to community NOI, including optimizing revenues through market room and care rates.
• Ensure labor costs are managed effectively, reviewing weekly labor trends.
• Benchmark other costs to ensure effective management of margins and identify improvement opportunities.
• Partner with CapEx and Facilities leaders to review capital requests, ensuring adherence to capital policy.
• Partner with FP&A department on forecasting to ensure performance updates and material operational changes are communicated.

Strategy - Analysis and Execution

• Develop strategy presentation materials for each asset and align community leadership with approved strategies, coaching team members on responsibilities.
• Work to create reporting tools to enhance the Asset Management teams productivity
• Lead, manage, and participate in special projects as needed.

Qualifications
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed are representative of the knowledge, skills, and abilities required.

• An undergraduate degree in finance, accounting, or real estate required.
• Minimum of 3-5 years of finance or asset management experience, with significant operations exposure.
• Knowledge and experience in several of the following areas preferred: Real Estate ownership/management, Finance, Senior Housing, Investor Relations, Operations Management.
• Strong communication skills, able to interact and lead both financial and operations professionals, including internal and external teams.
• Ability to simultaneously work on multiple key business workstreams, including planning activities, pricing, and reporting.
• Advanced project management skills in planning, coordinating, prioritizing, and solving complex problems.
• Collaborative and influential business partner with operational, financial, and investment leadership; a team player across the organization.
• Advanced analytics skills to identify specific actions for implementation.
• Advanced skills in building and updating complex financial models.
• Expert user of Excel, with exposure to PowerBI and other planning systems strongly preferred.
• Travel across regions to communities is required.

As a Home Office associate at Benchmark, you will have immediate access to a variety of benefits including, but not limited to, the following:

• 10 paid holidays plus 1 floating holiday
• Vacation and Health & Wellness Paid Time Off
• Tuition Reimbursement
• Physical & Mental Health Wellness Programs
• Medical, Vision & Dental Benefits provided by Blue Cross Blue Shield
• 401K Retirement Plan with Company Match
• Long Term Care Insurance
• Company-provided Life Insurance & Long-Term Disability

Benchmark Senior Living is committed to fostering, cultivating, and preserving a culture of diversity, equity, and inclusion.

We embrace and encourage our associates’ differences in age, color, disability, ethnicity, family or marital status, gender identity or expression, language, national origin, physical and mental ability, political affiliation, race, religion, sexual orientation, socio-economic status, veteran status, and other characteristics that make our associates unique.