Lincoln Avenue Communities (LAC) is seeking a Compliance Manager to join our experienced team of real estate professionals who manage a diverse portfolio of affordable multi-family housing properties across the United States. LAC has a robust pipeline of property acquisitions and an proactive plan to grow its national portfolio. The Compliance Manager ensures regulatory compliance of our large and rapidly growing national portfolio of affordable rental properties and is critical to the success and sustainability of the company.
This position reports to the VP, Asset Services, and works closely with the Asset Management and Development teams. We have a preference for a Los Angeles-based hire (hybrid, 3 days/week in Santa Monica). However, we are open to remote and candidates in all locations should apply.
What You'll Contribute
- Maintain relationships with state agencies and management agent representatives
- Monitors management agent to ensure annual reporting is completed according to regulatory documents and state deadlines
- Reviews a sampling of move in files to ensure compliance according to program regulations
- Monitors management agent to ensure physical and file pass any state, HUD or IRS inspections
- Monitor LURA Requirements and insure 3rd party are in compliance
- Advise owners of any areas of potential noncompliance or violation of program/regulatory requirements
- Complete site visit and LAC compliance audits
- Assist and work with Asset Services team to assist with insuring 3rd parties UA and Rent increases and max rents are annually.
- Manage the relationship with the third-party compliance consultants to ensure consistent, timely and quality performance in accordance with company expectations.
- Manage the daily performance of in-house compliance specialist(s) and temporary compliance consultant(s), as engaged.
- Regularly review third-party compliance consultants reporting of pre-audit income verifications and on-site file audit system to ensure all applicants and existing affordable housing residents are properly and timely qualified before move-in and/or recertification deadlines.
- Refine and oversee tracking of all property-specific program types, set asides, compliance requirements, audit dates, renewal dates and applicable agency and/or owner/partner contacts.
- Develop procedures, forms, training modules and related manuals to ensure that best practices are used in ensuring continuous compliance for properties with Low Income Housing Tax Credits (LIHTC) and /or project-based rental assistance (“PBRA”) through the US Department of Housing and Urban Development, HOME, tax-exempt bond, Section 811, Section 504/Fair Housing and other affordable housing program requirements related to occupancy, rents, and subsidy.
- Act as first point of contact for Management companies with compliance-related questions pertaining to file reviews or file process understanding with our external partnerships
- Act as a liaison between the AM LAC team and our third-party teams to ensure annual and quarterly reporting as well as investor reporting is properly and timely submitted.
- Apply policies and procedures to minimize the owner’s exposure to governmental risk including review of new regulations as well as actual or potential agency findings of noncompliance. Monitor, correct, and report to LAC leadership to ensure prompt clearance of any agency findings while minimizing repetition.
- Assist with the creation and implementation of group and individual compliance training to property and other associates whether in-house or through external affordable housing consultants and trainers.
- Monitor 3rd parties to maintain a revenue maximization program for all forms of PBRA subsidy rental and monitor the third-party submission of special claims to collect all eligible income.
- Maintain proactive, positive relationships with compliance and asset management staff at the various federal, state and local or regulatory agencies, syndicators, investors or other authorities.
- Assist property associates and the IT team to ensure maximum effective use of the affordable components of MRI through coordination of internal procedures and reporting with Yardi capabilities.
- Monitor the third-party compliance consultant’s timely and accurate monthly, quarterly, and annual compliance certifications and reporting for all applicable federal, state, local, ownership or other agencies.
- Work with industry organizations, vendor associations and local/regional competitors to continually expand the company’s industry knowledge and participate in networking opportunities with industry peer groups through NAHMA, NLHA and other advocates.
- Provide guidance to other LAC operational units on governmental compliance and risk issues.
- Performs other duties as assigned.
What You Bring
- Have the ability to read and comprehend regulatory documentation.
- Proficiency with Microsoft Excel applications; working knowledge of the Microsoft Office Suite.
- Proficiency with Yardi Voyager or equivalent property management software preferred.
- Exceptional analytical skills and detail orientation.
- Excellent written communication skills including proper grammar and professional writing.
- Excellent verbal communication skills with the ability to interact with and present complex information to associates at all levels and a wide range of business partners.
- Ability to apply reason, logic, and advanced problem-solving skills to resolve complex issues.
- Ability to independently interpret data and draw conclusions and make recommendations based on those conclusions.
- Ability to organize and manage complex projects within strict deadlines in a volume environment.
- Ability to work and lead effectively in a team environment.
Education and Experience
- HCCP, COS, BOS, TCS or equivalent certifications required.
- Bachelor’s degree from a four-year college or university with a concentration in a financial discipline preferred.
- 5-10 years’ experience in affordable housing program management with a government housing agency or as Section 8 contract administrator or with an affordable housing asset or property management company required.
- Minimum 3 years’ experience supervising professional staff preferred.
Welcome to Lincoln Avenue Communities (LAC)! We are a dynamic and entrepreneurial real estate private equity firm that strengthens communities. As a developer, investor, and operator, we provide sustainable, high-quality homes for lower- and moderate-income individuals, seniors, and families across 25 states. With a portfolio encompassing 130+ properties and 20,000+ units, we are committed to creating lasting impacts on the lives of our residents and the communities we serve.
Equal Employment Opportunity
LAC is an equal opportunity employer. We prohibit discrimination and harassment of any kind and afford equal employment opportunities to employees and applicants without regard to race, color, religion, sex, sexual orientation, gender identity or expression, pregnancy, age, national origin, disability status, genetic information, protected veteran status, or any other characteristic protected by law. At LAC, we conform to the spirit and the letter of all applicable laws and regulations.