Head of Asset Management

3 weeks ago

Sandton, South Africa Growthpoint Properties Full time

Job Purpose

To systematically acquire, develop, refurbish, redevelop, and dispose of assets as well as manage assets held in order to achieve the greatest total return for the benefit of all stakeholders. The incumbent would report to the Head: SA Asset Management and would be required co-ordinate, liaise and collaborate with the Chief Operating Officer.

Who The Position Reports To

The Head of Asset Management: Retail reports to the Head: SA Asset Management: SA

Direct Subordinates

The position, currently, has the following 4 direct reports

a) 3 x Asset managers
b) Personal Assistant

Duties & Responsibilities

**1.** **Perform Asset Management Function**

a) Participate as member of SA Exco

b) Participate on the following committees:

- Deal Forum
- Property Committee

c) Compile reports, analysis and specific tasks as may be required by the Board, Property Committee, any Board Sub-Committee, Exco Committee or as directed by the Head: SA Asset Management: SA

d) Adhere to and ensure that direct reports adhere to relevant levels of authority.

e) Perform corporate management functions in accordance with policies, procedures and legal requirements

f) Perform corporate management functions within the allocated time frame

**2.**
**Manage Co-owned Properties**

2.1. Responsible for asset management function of co-owned properties:
a) Provide guidance to Portfolio Managers
b) Participate in Co-Owner meetings and attend ad hoc and development meetings
c) Provide strategic direction
d) Ensure accurate accounting for pro-rata profit share calculations and distributions
2.2. Manage co-owned properties in accordance with policies, procedures and legal requirements

**3.** **Perform Asset Management Function for External Clients**

a)Perform asset management function for external clients as per specific applicable asset management agreements

**4.** **Manage budget**:
a) Keep abreast of economy and market in order to identify key threats and opportunities.
b) Analyse the business plan and investment strategy for the Group to obtain budget guidance for the sector
c) Determine mandate for Asset Managers to achieve growth expectations for the Sector
d) Compile the consolidated budget, through collaboration with Asset Managers and Sector Accountant, in accordance with the budget guidelines
e) Submit the budget for approval to the Executive Directors and the Property Committee in accordance with policies and procedures
f) Monitor and control the expenditure against the budget to ensure that spending occurs within the budgetary restrictions
g) Ensure that spending is approved in accordance with procedures
h) Compile the monthly asset management and financial report

i) Monitor portfolio performance against budget on a monthly basis and take necessary remedial measures, if required

**5.** **Manage Human Resources**

a) Analyse the business plan to determine the human resources requirements, in accordance with the expected deliverables and monitor the implementation of recruitment and/or rationalisation programmes
b) Implement Growthpoint’s approved transformation plan
c) Conduct the Performance Planning and Performance Management for direct reports
d) Provide mentoring to senior staff members

**6.** **Investment Research & Strategy**

a) Collaborate with the Head: SA Asset Management to formulate an investment strategy for Growthpoint SA, across sectors and geographic location.

b) Conduct in-depth research, in consultation with the Head: SA Asset Management and the Research Department, in respect of
- Investment trends
- The Sector’s performance
- Threats and opportunities

c) Conduct SWOT analysis at building/shopping centre level in order to draft specific asset management strategy for each asset

d) Evaluate performance of each investment and make recommendations in respect of non-performing assets

e) Manage the implementation of the asset management in accordance with policies and in terms of Delegations of Authority

**7.**
**Maximize return on investment**

a) Manage assets
- Ensure that the Retail Sector performs in line or better than MSCI benchmarks
- Dedicated focus on maximising return on investment and capex
- Assisting in the drafting and implementation of policies and procedures applicable to the sector and the business as a whole

b) Manage acquisitions
- Identify investment opportunities meeting Growthpoint and the Sector’s investment criteria
- Conduct comprehensive feasibility studies and due diligence processes

c) Manage disposals
- Implement the Investment strategy as devised in terms of disposals
- Develop disposal strategy including compilation of sales budgets and price determination

d) Identify and manage development opportunities in collaboration with the Development division:

- Manage extensions and redevelopments of existing centres i.e. timing, feasibility, tenant liaison and financial control
- Analyse Greenfield developments to assess suitability in terms of location, viabi

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