Position SummaryThe Vice President of Compliance is the senior compliance leader within Asset Management, accountable for protecting the Company's affordable housing portfolio and its regulatory standing, tax exemptions, tax credits, and financing compliance. The role provides asset-level oversight across the full property lifecycle and holds both internal property teams and third-party property managers accountable for executing their compliance obligations.
The position carries sufficient authority to challenge property and third-party management decisions where compliance risk exists, and serves as the primary escalation point for issues that could jeopardize the Company's regulatory benefits or its ability to operate properties as intended. Emphasis is on proactive risk identification, audit readiness, and third-party manager performance rather than day-to-day compliance execution - compliance is treated as an ownership responsibility, not solely a property management one.
Key ResponsibilitiesRegulatory & Affordable Housing Compliance
- Maintain oversight of each property's Regulatory Agreements, LURAs, LIHTC requirements, Extended Use Agreements, affordability restrictions, financing agreements, and tax exemption requirements throughout the property lifecycle.
- Build and maintain a centralized compliance matrix per property covering requirements, deadlines, restrictions, certifications, reporting obligations, and responsible parties.
- Ensure property teams understand and consistently comply with affordability, occupancy, income, rent, utility allowance, recertification, and tenant file requirements.
- Identify compliance risks before they become regulatory findings and establish corrective action plans with clear ownership and deadlines.
Third-Party Manager Oversight
- Serve as the Asset Management-level compliance liaison to all third-party property management companies, setting clear compliance expectations and performance standards.
- Audit and assess third-party compliance teams on tenant file review and approval, accuracy and timeliness of initial certifications and recertifications, agency/lender/investor submission deadlines, correction of findings within required timeframes, owner and annual certifications and tax exemption filings, and documentation and audit trails.
- Hold management companies accountable for recurring deficiencies and escalate material or unresolved issues to senior leadership.
Audits, Inspections & Findings
- Own a portfolio-wide process for tracking file audits, agency and lender reviews, tax credit monitoring, and regulatory examinations, ensuring all deadlines are calendared, assigned, monitored, and met.
- Determine the corrective action, responsible party, and deadline for significant findings; track each through resolution and verify the action was actually implemented.
- Identify recurring findings across properties and management companies and develop portfolio-wide solutions to prevent recurrence.
Tax Exemptions & Tax Credit Protection
- Ensure properties maintain eligibility for applicable property tax exemptions, abatements, tax credits, and other affordable housing financial benefits.
- Monitor exemption requirements, governing law, and renewal deadlines, coordinating with property management, legal, ownership, and governmental agencies as needed.
- Develop controls that prevent missed filings, inaccurate certifications, and documentation deficiencies, and immediately escalate any issue that could result in the loss, reduction, or clawback of a benefit.
Reporting & Controls
- Maintain a portfolio-level compliance dashboard covering upcoming regulatory deadlines, current compliance status, outstanding audit findings, file audit results, certification status, and open risks.
- Establish standardized compliance KPIs and scorecards for internal and third-party management teams, and report regularly to Asset Management and senior leadership on portfolio compliance health and material risks.
- Develop compliance SOPs, controls, checklists, and escalation procedures, and maintain an organized, accessible repository of governing documents and compliance records.
Cross-Functional Leadership
- Partner with Asset Management, Operations, Property Management, Legal, and Acquisitions to ensure compliance requirements are incorporated into property business plans and operational strategies.
- Work with Legal and outside counsel on significant regulatory issues, notices of noncompliance, potential violations, and agency matters.
- Provide training and guidance to Asset Managers and third-party compliance personnel as needed.
Success Measures
- 100% on-time completion of critical regulatory and certification deadlines.
- No preventable loss of tax exemptions, tax credits, abatements, or other regulatory benefits.
- Reduction in repeat audit and regulatory findings, and timely closure of all material findings.
- High accuracy of tenant files and required certifications, with third-party managers consistently meeting established compliance deadlines.
- Accurate, current compliance documentation for every property, with material risks identified and escalated before they create financial or regulatory exposure.
Qualifications- 7+ years in affordable housing, LIHTC, property management compliance, asset management, or a related field.
- Significant LIHTC and affordable housing regulatory compliance experience, including PFC or California welfare exemption structures.
- Strong command of Regulatory Agreements, LURAs, Extended Use Agreements, tax credit requirements, income and rent restrictions, certifications, recertifications, and regulatory monitoring.
- Experience overseeing compliance across a multi-property portfolio; experience auditing or managing third-party property management companies preferred.
- Experience interacting with housing authorities, state agencies, investors, lenders, syndicators, and other regulatory bodies.
- Strong analytical, organizational, and project-management skills, with excellent written and verbal communication.
- Bachelor's degree preferred; HCCP, COS, C3P, SHCM, or comparable affordable housing credentials a plus.
Reporting Structure- Reports To: Head of Asset Management
- Internal Partners: Asset Management, Legal, Acquisitions
- External Partners: Third-party property managers and their compliance departments, housing authorities, state agencies, lenders, and regulatory agencies
Compensation + Benefits - $150,000 - $175,000 plus year end discretionary bonus
- Benefit package includes medical, dental, vision, Life/AD&D, 401K, paid time off, and holidays.
