The Vice President of Affordable Compliance is responsible for ensuring that Pinnacle provides high quality affordable compliance and property management for our Clients. They will establish and maintain compliance standards at the highest level achievable and ensure that a maximum level of customer service is provided.
The VP of Affordable Compliance will also take a leadership role in affordable housing business development and in conjunction with Property Operations, as well as ensure leasing and occupancy procedures are carried out in conformity with local, state, federal, lender, investor and regulatory requirements.
A high level of integrity, strong ethical values and the highest standards of confidentiality with all records, including organizational and individual information are expected.
ESSENTIAL JOB FUNCTIONS:
- Effectively works in a collaborative manner with new business development team.
- Demonstrates a comprehensive knowledge of affordable housing regulations and acts as a resource on regulatory compliance matters with Pinnacle clients.
- Stays up to date with legislation, regulations and issues that may impact property management operations; interfaces with government regulatory agencies as the management agent and ensures regulatory compliance; maintains effective working relationships with representatives of city, state and federal agencies, industry peers, and others involved with government. Disseminates relevant information, as appropriate to support teams.
- Interprets IRS and HUD regulations for federal housing programs administered by Housing Finance Agencies and other program funding agencies for Leadership.
- Provides leadership in the development of property management compliance training programs.
- Provides regulatory advice and interpretation in developing company policies, procedures and monitoring systems for affordable housing compliance.
- Identifies and mitigates credit recapture risks from the inception of Clients’ investments throughout its 15-yearcompliance period.
- Facilitates the management services approval process with HUD, lenders and Housing Finance Agencies, as needed, required under the property’s governing documents.
- Develops internal department controls and policies designed to check that all compliance requirements are met.
- Supervises, develops, and mentors the Core Compliance Manager team in their efforts to maintain compliance with regulatory agencies and Pinnacle policies and procedures.
- In conjunction with Management and Accounting, ensures timely, accurate and complete compliance and reporting toall agencies, lenders, partners and investors. Develops monitoring, reporting and recordkeeping systems to ensure compliance.
- Provides leadership in the update, revision, and/or development of forms, reports, and manuals relating to property management compliance issues.
- Establishes and coordinates a communication system involving transactions and activities between onsite teams and the compliance team to ensure appropriate monitoring and control of property compliance issues.
- Manages any third party contractor or consultant that provides, or may provide, compliance related services for theorganization.
- Formulates procedures for systematic retention, protection, retrieval, transfer and disposal of records in compliance with regulatory requirements.
- Effectively works in a collaborative manner with different individuals and departments.
- Attends all Affordable industry meetings and other regulatory agency meetings as required and appropriate.
- Actively manages and participates in the annual budget process. Analyze costs; and implement cost reductions opportunities.
- Performs other duties as assigned.
SKILLS AND ABILITIES:
- Superior leadership skills with an emphasis in team supervision and development, particularly during a time of organizational transition.
- Strong analytical and strategic thinking skills.
- Excellent verbal and written communication skills to interface professionally and sensitively, problem solving, decision-making, interpersonal and time management skills.
- Ability to handle shifting and multiple priorities in a fast paced, growth environment.
- Ability to work under pressure and successfully meet deadlines.
- Ability to represent the company to public officials and community groups.
- Knowledge of affordable housing regulations, including but not limited to HUD, Low Income Housing Tax Credits, Tax-Exempt/Revenue Bonds, SHIP, Housing Trusts, Public Housing Authorities, Rural Development and AHP.
- Thorough knowledge of regulatory agreements and ability to interpret those agreements.
- Thorough knowledge of landlord-tenant and fair housing laws and procedures.
- Knowledge of basic employment laws as they relate to equal opportunity, hiring, training, promotion, evaluation and termination.
- Ability to delegate and communicate company policies and procedures.
- Proficient with Microsoft Office Suite. Experience with property management software (Yardi experience preferred).
- Commitment to the company’s goals and philosophy.
- An undergraduate degree in business or real estate with experience as a compliance professional in the rental housing industry, plus demonstrated knowledge in the implementation and maintenance of affordable compliance programs
- Minimum five years or more of recent supervisory experience providing leadership to a team of ten or more.
- Minimum five years or more of recent experience in affordable housing with a minimum portfolio size of 15,000 units with an emphasis on LIHTC program compliance experience.
- Experience working with IRS, Housing Finance Agencies, HUD and other funding agencies.
- Knowledge of applicable local and federal housing laws including Fair Housing and Landlord and Tenant laws required.