What are the responsibilities and job description for the Compliance Director position at LDG Development?
SOLIDAGO RESIDENTIAL SERVICES
POSITION DESCRIPTION
POSITION: Compliance Director
COMPENSATION: Exempt / Salaried
REPORTS TO: Sr. Director, Compliance
POSITION SUMMARY
As the Compliance Director, you are responsible for overseeing the entire affordable portfolio. This position will supervise and direct the Compliance Analyst team, ensuring compliance with all federal, state, and agency regulations, and will assist the Sr. Director, Compliance in developing and updating policies, procedures, processes, and forms relating to the implementation of all affordable regulations.
The Director will oversee the audit process in areas such as initial certifications, annual certifications, interim reviews, new move-ins/move-outs and be responsible for compliance reviews conducted by state housing finance entities, syndicators, lenders, and other agencies/entities as applicable. Must be detail-oriented with the ability to multi-task and remain organized in a demanding and fast-paced environment. Must have the ability to identify and analyze issues and recommend and execute action plans. The Director of Compliance also ensures accurate and complete compliance on sites and develops/ conducts training for employees.
ESSENTIAL RESPONSIBILITIES (Including but not limited to):
- Monitor new announcements of rules and communicate accordingly
- Review federal, state, and local regulations for updates and make necessary recommendations/changes to Standard Operating Procedures and property forms to ensure compliance with regulations.
- Prepare and submit Desk Review documents required by HUD/contract administrator, TDHCA, other local regulatory entities, and investors/lenders prior to on-site inspections, and prepare responses to regulatory agencies in response to on-site inspections.
- Ensure all rent and utility allowances are updated and implemented timely/accurately and in place prior to deadline.
- Conducts regular onsite audits consisting of sampling tenant files to ensure compliance with program documents, company policies, financing restrictions, LIHTC requirements, HUD Regulations, TDHCA Regulations, TAA requirements, and other governing entities.
- Conducts regular onsite audits of work order processing, unit turnaround time reviews, EIV requirements, reasonable accommodation policies, move-ins/outs, recertifications, lease renewals, interims, denials, waitlists, etc.
- Produces and delivers regular audit summary reports to include items such as the improper application of policies, procedures, and/or rules by staff members. Maintain a tracking system for all files reviewed to facilitate an assessment of the overall processes.
- Ensure files are being maintained properly and kept secure and confidential.
- Assists the Compliance Director with reporting concerns for all programs.
- Composes correspondence, reports, and memoranda for the assigned Manager or other management.
- Attends regular training regarding programs with financing restrictions, including all federal, state, and local laws.
- Review initial and annual tax credit certifications completed by on-site staff of assigned properties. Review supporting verifications to determine proper documentation of sources of income and expenses and accurate completion of Form 50059 and or TIC forms.
- Provide technical support to on-site Property Managers and other staff of assigned properties in the preparation of all compliance-related forms and documents, including preparation and submission of Sec. 8 contract renewals/rent increases and utility allowance analysis.
- Prepare quarterly and/or annual compliance reports to regulatory agencies, owners, investors, and lenders, including demographic information as required by respective loan documents and contracts.
- Provide education and feedback to on-site staff and corporate personnel. Communicate updates to policies, procedures, and best practices that need to be implemented at the site for compliance.
- Bring non-compliance issues to the attention of the Supervisor and initiate corrective actions.
- Assist other departments with compliance issues as requested.
- Travel to accommodate job duties will be necessary.
- Other duties as assigned.
PREFERRED QUALIFICATIONS:
- This position requires flexibility and the ability to travel, at times extensively and on short notice.
- The Director is expected to have excellent oral and written communication skills, possess the ability to build lasting business relationships, and exhibit professionalism
- Bachelor’s degree in business, Accounting, Finance, or related field preferred.
- 10 to 15 years’ experience; property management and real estate experience preferred.
- Ability to pay exceptional attention to detail.
- Strong time management skills.
- Excellent verbal and written communication skills.
- Read, analyze, articulate, and compile financial reports used for business correspondence.
- Must be analytical, resourceful, detail-oriented, and knowledgeable of affordable housing
- Ability to interact effectively with prospects, residents, and peers, and manage both verbal and written forms.
- Ability to compose written responses to audits and owner requests.
- Knowledge of current application of compliance programs, rules, and regulations.
- Thorough knowledge of HUD, LITCH, TDHCA, TAA, low-income housing tax credit, tax-exempt bond, and other affordable housing programs.
- Ability to provide technical assistance on complex compliance issues in a simple and accurate manner to ensure compliant and quality application.
- Strong working knowledge of Microsoft Word, Excel, and Google Suite.
- Ability to embody the Solidago Standards every day.
WORK ENVIRONMENT
The work environment characteristics described here are representative of those a Team Member encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions. Incumbents work in an office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets, and fax machines.
PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by a Team Member to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
While performing the duties of this job, the Team Member regularly uses their hands for tasks such as typing, handling, and feeling. The role frequently involves standing, walking, reaching with hands and arms, and occasionally stooping or squatting. The Team Member must be able to push, pull, lift, carry, or maneuver office products and supplies of up to twenty (20) pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception and the ability to adjust focus.
Routine local travel may be required to attend training classes, client visits, or other situations necessary for the accomplishment of the daily responsibilities of this position. Non-routine, overnight travel may be required to attend company functions, training, property visits, and other situations necessary for the accomplishment of special projects
The above job description is not intended to be an all-inclusive list of duties and standards of the position. Incumbents will follow all other instructions and perform all related duties as assigned by their Team Leader.
