Compliance Analyst - AM

Illinois Housing Development•Chicago, IL

1d•$51,857 - $64,821•Hybrid

About The Position

The Illinois Housing Development Authority (IHDA) is seeking a Compliance Analyst to join the Asset Management department. This role is crucial for monitoring the long-term physical, financial, operational, and administrative compliance of IHDA-assisted developments. The Project Operations Compliance group, where this position is housed, specifically ensures operational compliance through various reviews and calculations related to management, occupancy, rent limits, and tenant plans. IHDA is committed to fostering a diverse and inclusive work environment and is a leading financial institution dedicated to financing affordable housing across Illinois.

Requirements

Bachelor’s degree required. Experience may be substituted for education at the discretion of the Asset Management department.
At least 1 year experience with multifamily rental housing developments required.
Proficiency in Microsoft Office Suite required.
Must be a resident of Illinois or willing to relocate.

Nice To Haves

Affordable housing experience preferred.
Operational compliance administration experience desired.
Thorough knowledge of the following funding sources/programs desired: LIHTC, HOME, Section 8, Risk Share, Tax Exempt Bonds, and Illinois Affordable Housing Trust Fund.
Certified Occupancy Specialist (COS), Tax Credit Specialist (TCS), Blended Occupancy Specialist (BOS), HOME Compliance Specialist (HCS), Housing Credit Certified Professional (HCCP) training desired (completed within one year or earliest available date, whichever is later).
Certifications: Certified Occupancy Specialist (COS), Tax Credit Specialist (TCS), Blended Occupancy Specialist (BOS), HOME Compliance Specialist (HCS), Housing Credit Certified Professional (HCCP) preferred.

Responsibilities

Implements proactive strategies to resolve properties’ operational condition compliance issues.
Collects and contributes data to determine annual operations rating.
Intakes, tracks and processes annual compliance submissions, reviews packages for completeness, follows -up regarding incomplete or error-filled submissions.
Conducts ongoing desk, limited desk, and other monitoring reviews of assigned portfolio of projects based on prescribed timeframes (to assess and facilitate compliance with applicable Federal, State, local rules, and standards).
During monitoring reviews, assesses the operational compliance (i.e., management, occupancy) against related regulatory requirements so that the related housing remains affordable, decent, safe, and sanitary.
Prepares and maintains all operational compliance documentation (including compliance monitoring findings, responses, resolutions, reports) as required.
Develops initial and ongoing rent schedules, utility allowances, rent/income limits (in coordination with appropriate data systems).
Proactively communicates with the property owner, manager, agent regarding operational issues, compliance requirements, options, and deadlines for resolution.
Coordinates development, circulation, and submission of 8823 forms for tax credit properties.
Solicits, reviews, approves, and processes Certifications, Management Plans, Management Agreements, Tenant Selection Plans (TSP), Lease, Form Lease Riders, Affirmative Fair Housing Marketing Plan (AFHMP), TST-2 and other tax credit forms, Lead-Based Paint Certifications, Rent Schedules, Utility Allowances, 8823s, 8609s, etc. (to assess and facilitate compliance with applicable Federal, State, local rules and standards).
Participates in pre-occupancy and post-closing discussions and meetings as appropriate.
Provides program/funding source/system informational and technical assistance, guidance, and direction to internal staff as well as property owners/agents.
Proactively follows up on previously noted compliance deficiencies to ensure proper and timely resolution.
Performs other duties and handles other special projects/initiatives as assigned.