Coordinator, Regulatory Compliance

Coordinator, Regulatory Compliance

The primary responsibility of this position is performing one or more compliance-related functions that support the loan closing process from initial financial closing through construction completion. Incumbents in this position are expected to be a subject matter expert in at least one of the following functions or requirements, and have a working knowledge of one or more of the others:
Davis-Bacon and Related Acts, Section 3 of the HUD Act, subsidy layering reviews, and environmental records reviews.

Essential functions include:

• Monitoring multifamily projects under construction for compliance with Davis-Bacon and Related Acts and Section 3 of the HUD Act; ensuring accuracy and integrity of data and reporting accordingly.
• Performing 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, coordinating the SLR-related document transmission and communication between IHDA, the project sponsor, and the U.S. Department of Housing & Urban Development (HUD). Identifying and escalating, as needed, issues, delays, and other concerns.
• Determining level of environmental review record using HUD 24 CRF Part 58 Review Guidelines. Completing 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.
• Developing, documenting, and maintaining compliance-related processes that include tracking mechanisms, policies and procedures, forms and documents, etc.
• Developing and maintaining compliance-related guidance and knowledge resources for use by internal and external audiences.
• Consistently and clearly communicating with colleagues, project sponsors, consultants, funders, and other stakeholders regarding statuses, deficiencies, and clarifications.
• Providing back-up and support for other members of the Compliance Services team.
• Staying abreast of regulations, policies, practices, trends, and best practices as they relate to the position and its responsibilities.
• Additional duties as assigned.

Education and experience requirements include:

• Bachelor's degree in urban studies or planning, business or public administration, or a related field is preferred but not required.
• Experience with one or more HUD compliance requirements is highly desirable.
• Preference will be given to candidates with three or more years of experience in multifamily finance and/or development, project/program management, or compliance monitoring and reporting.

Physical requirements include alternating between sitting, standing, and walking. Ascending and descending stairs. Crouching and stooping. Pushing and pulling. Reaching overhead or below. Repetitive task movements (filing, keyboarding, copying). Lifting, carrying, and moving objects of up to 10-15 pounds.

What we offer includes:

• Paid time off, plus paid holidays
• Currently in a hybrid work arrangement, but candidates must reside in Illinois at time of hire
• Medical/dental/vision/life insurance plans
• Short/long term disability
• Tuition reimbursement
• Flex spending
• 401K plan – immediate vesting
• IHDA employees may be eligible for federal loan forgiveness programs
• Salary range: $60,088.93 - $75,111.16

Must be a resident of Illinois or willing to relocate. Flexible scheduling is available, upon completion of a six-month probationary period. EOE