Compliance & Asset Management Director

The Compliance and Asset Management Director is responsible for the operational and strategic oversight of a portfolio of affordable rental housing properties. The primary objective of the Compliance and Asset Management Director is to optimize and preserve the company’s benefit stream of tax credits and net cash flow from existing developments and to assist in the analysis of the company’s investment of new developments.

This role ensures assets are performing at or above expectations, remain in regulatory compliance, deliver high-quality resident services, and maintain long-term financial sustainability. The Compliance and Asset Management Director serves as a key liaison between general partners, management companies, lenders, regulatory agencies, tax credit syndicators, insurance companies, and internal leadership.

Responsibilities:

• Direct and supervise all compliance and reporting with state agencies, housing finance authorities, Investor Compliance, HUD, tax credit requirements, or other program obligations.
• Stay current on industry standards—particularly related to affordable housing, Fair Housing, American with Disabilities Act, and senior independent living best practices.
• Track and interpret state-specific regulations, licensing requirements, and other policy updates that impact property operations or revenue.
• Provide guidance to internal teams and management partners regarding management company policies and best practices, regulatory shifts and strategic operational adjustments.
• Provide support, leadership, and training of new hires within the Asset Management team as requested.
• Be thoroughly comfortable with all aspects of Res Man Management software operations.
  
  Administer the software for setting permissions, etc.
• Oversee rental managers in the lease-up and pre-opening due diligence efforts covering regulatory compliance, investor promises, operational readiness, management company policies, physical condition, licensure, pre-leasing, and monitor leasing.
• Final review of all Tenant files prior to household move-in.
  
  Verify correct set up in Management Software.
  
  Verify all tenant files are complete with all required documentation included to satisfy management company policies and compliance agency review.
• Conduct regular site visits to assess building conditions, operational practices, staffing and leadership stability, resident satisfaction, and overall compliance.
• Coordinate physical needs assessment as needed with assistance of Maintenance Director prior to the expiration of the Operating Deficit Guaranty (ODG) period for each property. Assist with follow-up responsibility for items identified.
• Participate in the selection of property managers and maintenance staff to manage and maintain assigned developments.
• Periodically review the qualifications of property management and maintenance personnel and monitor service delivery quality, especially in areas affecting resident retention and apartment management standards.
• Communicate with GP’s and managers regarding operation, recommendations, and necessary follow-up.
• Help evaluate and monitor insurance coverages and claims.
  
  Serve as liaison with property insurance companies.
• Assist with monthly, quarterly, and annual financial reviews for each property, including operating statements, cash flow, budget variance reports, rent rolls and key performance indicators.
• Identify operational inefficiencies, vacancies and financial risks and collaborate with property management to implement corrective action plans.
• Help monitor reserve balances, capital expenditure needs, and compliance with appropriate provisions of the partnership agreements, property management agreements, and loan documents.
• Assist in preparing annual budgets and provide recommendations to ensure optimized performance and alignment with ownership’s financial objectives.

Qualifications:

• 3 years of asset management or related operations oversight experience, ideally within Low Income Tax Credit properties, or related regulated housing industries.
• Proficiency in Excel and financial modeling.
• A working knowledge of government assisted senior, family or Market rate housing operations, finance regulations. A basic understanding of low-income housing tax credits is preferred but not required.
• Exceptional communication and relationship-management skills.
• Ability to make day trips as necessary for property visits/Quality Control (10%).
• Housing Credit Certified Professional (HCCP) certification preferred. If not currently certified, the successful candidate must complete the required coursework and obtain HCCP certification after employment, along with annual continuing education requirements.
• Ability to work independently and prioritize multiple tasks