Coordinator, Regulatory Compliance

Illinois Housing Development•Chicago, IL

6h•$60,089 - $75,111•Hybrid

About The Position

The Illinois Housing Development Authority (IHDA) is seeking a Coordinator, Regulatory Compliance to join their Multifamily Financing department. This role is primarily responsible for performing compliance-related functions that support the loan closing process from initial financial closing through construction completion. The position requires expertise in at least one of the following areas: Davis-Bacon and Related Acts, Section 3 of the HUD Act, subsidy layering reviews, and environmental records reviews, with a working knowledge of others. IHDA is committed to fostering a diverse, inclusive, and supportive work environment, aiming to finance affordable housing across Illinois.

Requirements

Experience with one or more HUD compliance requirements is highly desirable.
Must be a resident of Illinois or willing to relocate.

Nice To Haves

Bachelor’s degree in urban studies or planning, business or public administration, or a related field is preferred but not required.
Three or more years of experience in multifamily finance and/or development, project/program management, or compliance monitoring and reporting.

Responsibilities

Monitor multifamily projects under construction for compliance with Davis-Bacon and Related Acts and Section 3 of the HUD Act; ensure accuracy and integrity of data and report accordingly.
Perform financial analysis and subsidy layering reviews (SLR) of affordable multifamily projects financed with Low Income Housing Tax Credits (LIHTCs), HOME funds, and/or other subsidy programs. Working closely with development officers and underwriters, coordinate the SLR-related document transmission and communication between IHDA, the project sponsor, and the U.S. Department of Housing & Urban Development (HUD). Identify and escalate, as needed, issues, delays, and other concerns.
Determine level of environmental review record using HUD 24 CRF Part 58 Review Guidelines. Complete required environmental review record documentation and reports required by HUD for HOME, National Housing Trust Fund, Risk Share, and other related programs to ensure compliance.
Develop, document, and maintain compliance-related processes that include tracking mechanisms, policies and procedures, forms and documents, etc.
Develop and maintain compliance-related guidance and knowledge resources for use by internal and external audiences.
Consistently and clearly communicate with colleagues, project sponsors, consultants, funders, and other stakeholders regarding statuses, deficiencies, and clarifications.
Provide back-up and support for other members of the Compliance Services team.
Stay abreast of regulations, policies, practices, trends, and best practices as they relate to the position and its responsibilities.
Additional duties as assigned.