Audits & Compliance Specialist

 

Audits & Compliance Specialist

Department: Property Management  

Supervisor: Director of Property Management 

Wages: $18-20/hr., Full-Time, Non Exempt

ORGANIZATIONAL BACKGROUND
Cabrillo Economic Development Corporation (CEDC) develops and manages service enriched, inclusive residential communities, ensuring access to affordable, secure, quality housing that creates the foundation for our residents to grow and thrive.
An industry leader since 1981, CEDC has built 45 affordable housing developments totaling close to 1,700 ownership and rental units. It currently has an ownership interest in 1,137 rental units that it manages. CEDC has an annual operating budget of $6,750,000 and multiple projects in the early stages of development.
THE POSITION
The Audits & Compliance Specialist is responsible for monitoring property compliance with Section 42 of the IRC, Section 8 guidelines, HFA (Housing Finance Agency) HOME, Rural Development, and other affordable program. Assisting Resident Managers with compliance needs is expected. This is a full-time non-exempt position and reports to the Director of Property Management.
Additionally, in conjunction with the CFO’s office, you will support the management of replacement reserves, which applies to all rental projects that have an outstanding loan balance or regulatory agreement from any of HCD, CalHFA, USDA-RD or Section 811, for CEDC’s multifamily rental portfolio.
MAJOR DUTIES AND RESPONSIBILITIES:
Specific job goals, objectives and tasks are established for each employee as part of the annual evaluation and work plan process by the Property Supervisor and Property Management Director. Major duties and responsibilities include, but are not limited to the following:
 

• Reviews and monitors changes in regulatory and reporting provisions of government agencies, e.g., TCAC, HUD, HOME, RHCP, MHP etc. Disseminates information to property management personnel both on-site and in central office and maintains master regulatory binders/files/library.
• Ensures up-to-date compliance on the part of all properties. Updates company compliance forms, as needed.
• Conducts audits on 20% of the resident files, in conjunction with the Property Portfolio Supervisor, in advance of all TCAC inspections and HUD MOR’s.
• Reviews and approves all move-in and recertification files from the published income limit for accuracy and compliance with gross rent, utility allowances, income limitations and all other regulatory requirements, partnership agreements and public program requirements.
• Ensures that the tenant selection process abides by the guidelines and regulations governing such projects.
• Provides a New Applicant Review Form to the Property Portfolio Supervisor and reviews correction documentation.
• Facilitates marketing and lease-up activities of new sites as it relates to occupancy requirements. Coordinates the approval of all resident move-in files during rent up process of new properties for accuracy and compliance with rent, utility allowances, income limitations and all other regulatory requirements, partnership agreements and public program requirements.
• Follows policies and procedures, (ex. Limited English Proficiency Plan, EIV Policies & Procedures) to ensure staff compliance with regulatory requirements relating to the set-up and ongoing maintenance of resident files and general project compliance.
• Oversees and/or completes successful monthly submission of the HUD vouchers through Yardi.
• Follows all internal policy for submission of compliance related documents.
• Ensures that the department collects, summarizes, and distributes Maximum Income Limits and Maximum Rent Limits for each funding source on an annual basis. Updates appropriate limit schedules in Yardi.
• Creates special income and/or rent limit charts and tracking systems as needed.
• Reviews all USDA-Rural Development (RD) interim re-certifications and annual certifications.
• Completes all HOME annual certifications required by regulatory agency (HCD, City, County).
• Attends monthly CEDC Property Management meetings to review and report on compliance issues.
• Attends all regulatory (HCD, HUD, CalHFA, among others), industry meetings and other regulatory agency meetings as required and appropriate.
• Collaborates on procedures for systematic retention, protection, retrieval, transfer and disposal of records in compliance with regulatory requirements.
• Provides additional support to the Property Management Department on special projects relating to overall company compliance and reporting activities.COLLABORATIVE RELATIONSHIPS:
• In conjunction with the Property Management Director, Property Portfolio Supervisor and Human Resources, assists in providing staff training on compliance issues, re-certifications, and other legal monitoring requirements.
• In conjunction with the Property Portfolio Supervisor and administrative staff, ensures that all regulatory documentation, such as Affirmative Fair Housing Marketing Plans, Management Certifications, Rent Schedules, Tenant Selection Plans, CEDC’s Application, and other required documentation are kept up to date at all times.
• In conjunction with Accounting, ensures timely, accurate and complete compliance and reporting to all agencies, lenders, partners and investors. Develops monitoring, reporting and recordkeeping systems to ensure compliance.