Compliance & Audit Manager
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 1,237 rental units that it manages. CEDC has an annual operating budget of $6,750,000 and multiple projects in the early stages of development.
CEDC PROPERTY AND ASSET MANAGEMENT PHILOSOPHY
CEDC’s philosophy is that excellent property management is an essential part of its overall construction of affordable housing activities. CEDC provides a superior living environment for its residents. CEDC implements a team management approach to its work with particular coordination between its activities within its Property Management, Real Estate Development and Resident and Community Services Divisions.
The Compliance & Audit Manager is responsible for the compliance of CEDC affordable property portfolio. The Compliance & Audit Manager is assigned with compliance functions related to the Low-Income Tax Credit program, HUD, USDA-Rural Development, HOME, and other affordable programs. Assisting Resident Managers with compliance needs is expected. This is a full-time exempt position and reports directly to the Director of Property Management.
MAJOR DUTIES AND RESPONSIBILITIES
Primary duties of this position’s duties and responsibilities include, but are not limited to the
• Tracks the Annual Recertification process at each of the properties per the AR schedule to ensure timely completion.
• Reviews AR weekly reports to assess AR progress.
• Communicates inconsistencies to the Regional Property Supervisors and the Director of PM.
• Conducts post AR file review to ensure quality and accuracy.
• Conducts audits of resident files in preparation for State and Federal audits and inspections.
• Logs received files for approval to track turn around approval process time.
• Responsible for the review and approval of files for eligibility. Files include but not limited to move-ins, first year recertification, unit transfers and interim RD files.
• Assist leasing team with 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.
• Assist in the completion of monthly submission of the USDA-RD rents through MINC.
• Follows all internal policy for submission of compliance related documents for various funding sources.
• 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.
• Paper reviews and MINC submittal of all USDA-Rural Development (RD) interim re-certifications and annual certifications.
• Attends monthly CEDC Property Management meetings to review and report on compliance issues. Attends all regulatory (CTCAC, RD, HOME, HCD, HUD, CalHFA, among others), industry meetings and other regulatory agency meetings as required and appropriate.
• Collaborates on new procedures, and preparation in Compliance training, for current resident Managers, Assistance Resident Managers, and new PM staff.
• Respond to emails for compliance questions from staff and agencies under the guidance of the PM Director.
• Collaborates on updating on coding waiting list according funding regulations.
• Responsible to update the reporting requirements calendar to ensure timely compliance.
• Checks on UA updates from Housing Authorities Agencies to ensure compliance to Tax Credit requirements.
• Provides additional support to the Property Management Department on special projects relating to overall company compliance and reporting activities.
• Supervises compliance support staff.
• In conjunction with the Property Management Director, Property Supervisor and Human Resources, assists in providing staff training on compliance issues, re-certifications, and other legal monitoring requirements.
• In conjunction with the 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.
• High School Diploma
• Bachelor’s degree or equivalent industry experience preferred.
REQUIRED KNOWLEDGE, SKILLS, AND ABILITIES:
• Strong knowledge of Tax Credit, USDA-RD, HUD, HCD, CalHFA regulations.
• Knowledge of regulatory agreements and ability to interpret it.
• Working knowledge of applicable local, state and federal housing laws.
• Strong analytical, oral and written communication skills.
• Proven ability to conduct research, coordinate multiple projects, solve problems, prepare/update supporting documentation and maintain records.
• Effective interpersonal skills and ability to represent the company to government, financial institutions and other outside agency representatives.
• Demonstrated ability to work independently and as part of a team, to exercise tact and diplomacy and maintain confidentiality.
• Ability to work under pressure and successfully meet deadlines.
• Excellent decision-making, interpersonal and time management skills.
• Computer literate. Proficient in Word and Excel. Experience with property management software (preferably YARDI).
• Must be able and willing to travel to all company locations to carry out duties and responsibilities associated with compliance and occupancy issues.
• Ability to handle shifting and multiple priorities in a fast paced, growth environment.
• Flexible, creative and well organized.
• Experience working with diverse groups, i.e. staff, residents, investors and outside contacts.
• Commitment to the companies’ goals and philosophy.
LICENSES & OTHER REQUIREMENTS:
• A valid California driver’s License and proof of automobile liability insurance.