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Business Title: VP ASSET MANAGEMENT - EAST/FLORIDA/CARIBBEAN
Generic Position Summary
The Vice President Asset Management has overall responsibility for ensuring execution and optimization of the operating plan for each of the projects within their group. This position is expected to provide leadership across the division's balanced objectives (financial, customer, process, and associate) for all projects within their group, from sold out resorts to projects just entering the delivery phase, from small single-phase projects to complex mixed use developments to joint ventures and other types of development partnerships.
As a senior member of the professional staff, contributes expertise in a discipline (e.g., Accounting, Finance, Human Resources, Information Technology, Resort Operations, Sales & Marketing etc.) area to support function and/or discipline objectives. Works with a high degree of independence, developing short-term goals for own department(s) and monitoring the flow of work between own department and others in alignment with broader business objectives, selecting and developing effective managers and work teams, and managing own organization through reliable systems and processes. Is a recognized authority in area of specialty, often serving as discipline interface with other areas.
Specific Job Summary
The Vice President, Asset Management has overall responsibility for execution and optimization of the operating plan for projects/assets assigned. Will deliver results against balanced objectives (financial, customer, process, and associate). Scope ranges from 1) sold out resorts to projects just entering the delivery phase, 2) from small single-phase projects to complex mixed use developments, 3) from wholly owned to joint ventures and other types of development partnerships, and 4) other single purpose assets assigned. This position is expected to manage multiple large and complex transactions (e.g. mixed-use development projects, multi-branded projects) simultaneously and with limited supervision. This position may also lead and develop junior Asset Management staff assigned to smaller or moderately complex transactions.For each assigned project, the Vice President, Asset Management is required to have a broad, systemic understanding of all operating and financial aspects including contractual, legal and tax components. This position drives performance against stated objectives across processes within MVW (including M&S, Resort Operations, IRM, Development, Feasibility, and the enabling processes) and with external parties including lenders. This position ensures any potential project/asset opportunities or risks are identified and drives resolution across the enterprise to meet and/or optimize project performance. Creative and innovative solutions often required.The position will be either based at MVW's headquarters in Orlando, Florida with travel as necessary to meet with assigned goals or will be positioned in market depending upon the projects assigned.
Generic Expected Contributions
- With a general planning horizon of 0 – 3 years, sets direction for area(s) of responsibility to achieve desired goals in alignment with function and/or discipline strategy.
- Leveraging knowledge and experience in area of expertise:
- identifies and implements improvements to business processes.
- evaluates alternatives and makes judgements on a full range of business issues.
- provides ongoing advice and guidance to the business concerning issues related to area of specialty.
- Manages large and/or multiple departments, processes and/or projects that have a broader function and/or discipline impact. Generally, influences work of cross-functional or extended teams.
- Makes department/multi-department resource decisions that have a financial impact as well as an impact on meeting discipline and/or business goals.
- Works to enhance the organization’s capabilities through effective staffing and development of others by:
- developing recruiting strategies based on evolving needs and profile of the business.
- using appropriate MVW interviewing tools to hire the best managers available from inside or outside.
- setting and maintaining high standards for team and individual performance.
- providing timely coaching and feedback.
- making and rewarding distinctions in performance.
- Assists senior management in achieving business results by:
- contributing to the development of long-term function and/or discipline strategy.
- sharing relevant information to help others understand and support business objectives.
- achieving results against budget within scope of responsibility.
- building relationships across the organization to align own technical area with broader organization direction and facilitate own function and discipline goals.
- contributing on a regular basis to operating efficiencies by recommending new and creative business management techniques.
- removing barriers to achieve greater performance.
- Readily critiques own behavior to acknowledge mistakes and improve future leadership performance and acts independently to improve and increase skills and knowledge.
- Performs other duties as appropriate.
Specific Expected Contributions
May include but not limited to:
- Provide key leadership support to MVW and Asset Management executive in defining and setting of overall business strategy for projects /assets assigned.
- Lead cross-process teams to drive execution of highly complex business plans for projects/assets assigned ranging from 1) sold out resorts to projects just entering the delivery phase, 2) from small single-phase projects to complex mixed use developments, 3) from wholly owned to joint ventures and other types of development partnerships, and 4) other single purpose assets assigned to achieve stated performance objectives and measures.
- Manage risks and opportunities and develop creative solutions.
- Close involvement with Feasibility and Development during project business planning to ensure comprehensive knowledge of deal and debt terms, project economics and operational requirements; provide consultative support as required
- Monitor project performance (operational and financial) on an ongoing basis; ensure early identification and resolution of risks / issues
- Understand MVW, partner, and lender reporting and contractual requirements, and ensure adherence thereto.
- Ensure adherence to all other requirements of JV and lender agreements
- Prepare project updates as required for relevant internal governance structure; actively participate in the meetings.
- Work closely with MVW and Asset Management executive (partner and lender, as appropriate) during annual business planning.
- Build and nurture relationships with local government officials and other stakeholders, as require
- Lead regular cross-process update, including Project Manager, Project Director, A&C, Business Planning, Project Delivery and Finance to ensure alignment on key business issues and deliverables
- As required, work closely with MVW leaders to develop, recommend, gain approval and implement strategies to enhance the performance or mitigate the risk of projects not meeting MVW's approved metrics.
- Provide guidance and support to Asset Management staff, direct work efforts.
- May sit on JV or COA governance boards during early years of project delivery
Results
- Develops plans and delivers results by managing cross-process teams and working with and through internal and external constituencies.
- Strong working relationships established with internal and external stakeholders; key point of contact for the projects/assets assigned.
- Maintain compliance with all deal and debt agreements.
- Early identification of business opportunities and challenges; define creative solutions and lead internal cross-enterprise teams to resolve issues and leverage opportunities to optimize performance.
- Timely identification and communication of potential changes of business plan to secure necessary MVW, regulatory and other approvals.
- Lead change management efforts as required to enhance performance of projects/assets assigned.
- Integrate approved changes into coordinated segment business plans to enhance financial results.
- Formulate and negotiate complex contractual changes as necessary and gain approval from the appropriate governance bodies, e.g., IRC or CGC.
- Review and approve any CapEx expenditures within the portfolio of projects assigned in accordance with the Delegation of Authority prior to submission to the EVP/COO or appropriate governance structure.
- Provide consultative support to MVCI developers during the course of deal discussions and maintain relationships with key government and development stakeholders following deal approval.
- Work with the MVW developer to identify new associated deals, sequel projects and other opportunities.
Generic Candidate Profile
Successful candidates should possess knowledge and experience and demonstrate strong leadership and relationship skills as follows:
Typically, a senior position requiring significant knowledge and experience in one or more disciplines as well as associate and/or organizational management experience. College degree preferred, or similar practical work experience. Advance degree or professional certification may also be required.
Specific Candidate Profile
Education
- Minimum of four (4) years college degree in Business preferred or equivalent experience
- Master's degree a plus
Experience
- Extensive experience within Marriott International or MVCI preferred.
- 10+ years leadership role with strong knowledge of project finance, strategic planning, construction activities, corporate tax, partnerships and real estate; awareness of legal and environmental issues, preferred
- Strong leadership, management, and communication skills required
- Strong business and financial acumen with proven analytical skills and an understanding of valuation theories and processes
Skills & Attributes
- Collaborative, inclusive predisposition toward creative and innovative problem solving
- Senior level, executive presence
- Ability to conduct successful, senior-level business discussions / negotiations in a variety of cultures
- Strong project management skills: ability to integrate and balance priorities, work resources and activities for the benefit of multiple key stakeholders
- History of consistently delivering business results in large and highly complex situations.
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Marriott Vacations Worldwide is an equal opportunity employer committed to hiring a diverse workforce and sustaining an inclusive culture
