Compliance Asset Manager (COM3)

State of Washington•Multiple Locations Statewide, WA

3d•Remote

About The Position

The Compliance Asset Manager works within the Department of Commerce’s Housing Division, Multifamily Housing Unit, supporting the State Housing Trust Fund (HTF) and the federal HOME and National Housing Trust Fund (NHTF) programs. The position conducts financial, occupancy, and physical reviews of projects in the portfolio; provides technical assistance to internal and external clients using the Web Based Annual Reporting System (WBARS); and helps maintain and improve asset management and compliance processes, protocols, and templates. The role requires independent judgment in interpreting and implementing policies and regulations. The employee handles complex issues, provides specialized expertise, and works with little or no technical oversight. The position coordinates with internal staff and external stakeholders to complete work effectively and on time, with a focus on customer service. The position may be located anywhere in Washington State. Occasional travel to a Commerce office or in-state events and meetings may be required, including travel to pick up equipment and receive instruction if selected. The role supports remote or hybrid work arrangements.

Requirements

Seven years of combined professional experience and/or education in the qualifying areas; qualifying post-high-school education may substitute year for year for experience.
Experience in affordable housing or multifamily housing finance or development, with a focus in at least two areas including affordable housing compliance management and affordable housing asset management.
Demonstrated understanding of the Washington State Housing Trust Fund or U.S. HUD programs such as HOME or the federal Housing Trust Fund, the Low-Income Tax Credit Program, or other affordable housing finance programs.
Demonstrated understanding of affordable housing finance, including layered financing using private and public funds, tax credits, and partnership structures.
Demonstrated understanding of UPCS, NSPIRE, Housing Quality Standards, or other inspection standards.
Education in housing finance, business, public administration, or a related field may be counted toward the seven-year qualification.
Demonstrated skills in organization, team building, and succession planning.
Ability to collaborate and build partnerships, develop work teams, and work effectively with authorizing bodies and external stakeholders.
Ability to work effectively with diverse personalities, styles, and cultures.
Ability to apply negotiation and conflict-resolution skills.
Exceptional written and verbal communication, interpersonal, and relationship-building skills.
Knowledge of agencies, institutions, and processes involved in real estate development.
Advanced proficiency with Microsoft Excel and ability to create and manipulate pro forma financial models.
Ability to take action to learn and grow and to meet the needs of others.
A complete and detailed online application, a cover letter entered online, and at least three professional references entered online are required.

Nice To Haves

Good understanding of state and federal low-income housing program regulations.
Experience developing rental housing opportunities in rural communities.
Experience developing and implementing policies and procedures.
Willingness to work flexible hours and in a collaborative, team-based environment.

Responsibilities

Complete off-site desk reviews of projects for contractual requirements, program compliance, and tenant eligibility, and prepare written reports, review responses, and follow up as needed.
Conduct on-site monitoring of projects throughout Washington State when needed, covering physical standards, program compliance, and tenant eligibility; review contractor reports, prepare written reports, and follow up.
Identify compliance risks, report them to management, and take appropriate corrective action when necessary.
Review capital needs assessments, management plans, and financial performance to evaluate project and portfolio sustainability.
Review, update, and refine compliance monitoring protocols, processes, and templates with the compliance asset management team.
Participate in the statewide Combined Funders Monitoring Task Force and the Inspection Sub-Committee.
Provide technical knowledge about portfolio projects to peers and management during application and funding rounds.
Help establish performance thresholds and standards to identify and escalate compliance issues.
Provide technical assistance to project owners and property managers on HTF, HOME, NHTF, and WBARS requirements.
Manage projects inspected by other funders, ensuring documentation is received, internal databases are updated, and compliance issues are resolved.
Conduct annual report reviews for the HTF, HOME, and NHTF portfolio, notify contractors of reporting deadlines, and follow up on delinquent reports.
Review annual reports and financial and occupancy data for compliance with program and contract requirements, referring issues for follow-up as appropriate.
Interact with project owners and property managers to provide technical assistance and clarify data submitted through WBARS.
Ensure Commerce’s internal database is accurate when reviewing annual reports.
Train and provide ongoing assistance to team members on the annual report review process.
Conduct regression and enhancement testing in WBARS and HCMS; screen for system errors, report bugs, and assist with troubleshooting and testing.
Provide advanced technical assistance to contractors and help team members troubleshoot reporting errors in the web-based reporting system.
Manage the transfer of internal projects from project management to asset management, coordinating with owners and property managers to ensure compliance with funding requirements and accurate database records.
Maintain current knowledge of UPCS and NSPIRE standards, provide technical assistance, and train contractors on the standards and changes.
Maintain current knowledge of HTF, HOME, and NHTF compliance requirements, provide technical assistance, and train contractors on program requirements and changes.