Director of Compliance

Director of Compliance

OVERVIEW:

LSA Management is an innovative property management firm leveraging the talents, expertise, and passion of our team to provide exceptional service to residents, partners, and investors at communities. Laurel Street is a residential developer of multifamily housing across the Southeast. As the affiliated property management company for Laurel Street, we take pride in the high quality of living that our apartments provide to individuals, families, and seniors of all incomes and the best-in-class property management we offer at every property in our portfolio. Headquartered in Charlotte, LSA Management currently provides property management services for 45 communities and over 4,000 units in Georgia, Virginia, and North Carolina. The company anticipates continued growth of 700 - 1,000 units annually for the foreseeable future.

POSITION SUMMARY:

The Director of Compliance is responsible for ensuring the Compliance department operates efficiently, accurately, and proactively while fostering confidence in the department among team members and leadership. This position ensures that LSA communities adhere to all federal and local funding requirements, including income qualification, rent restrictions, age and household type restrictions, special needs or supportive service commitments, etc. This position reports to the Senior Vice President of Operations and is expected to work closely with Laurel Street's Asset Management and Development departments.

ESSENTIAL DUTIES AND RESPONSIBILITIES: Examples of job responsibilities are intended as being descriptive and not restrictive in nature.

REGULATORY OVERSIGHT

• Evaluate current compliance processes and systems, recommending improvements that streamline operations and reduce risk. Create a strategic and proactive approach to structuring the Compliance efforts to prevent or resolve reoccurring issues.
• Responsible for LSA compliance with all federal, state, and local guidelines and that LSA is in "good standing" as an approved management agent.
• Manage the completion and submission of all parts of the Annual Owner's Compliance reports for all state agency funded properties and other annual compliance reporting as required accurately and by the required due date. Annual Owners Compliance reporting includes RCRS, Inlivian, and Emphasis.
• Manage access to agency portals, assignment of access, log-on, accuracy of data, and contact information.
• Serve as primary contact for third-party compliance services providers to manage priorities, the scope of work, and address issues.
• Establish reviewing and renewing process for the HAP, PBV and other program contracts.
• Serve as primary contact for all compliance audit requests, file and/orphysical inspections requested by state agencies, investors, and lenders.
• Responsible for the Compliance team's timely submission of utility allowances, rent increases, and other data to state agencies for approval. Utilization of knowledge of the Actual Use Method(AUM), Energy Consumption Model (ECM), and the HUDUtility Model are key.
• Manage the Compliance tracking process of LURA's set by funders that includes applying funding requirements.
• Create an effective internal audit process of compliance files that proactively identifies and addresses discrepancies to prevent findings during external audits and agency reviews.

COMPLIANCE TEAM MANAGEMENT

• Establish the Compliance department as a knowledgeable, responsive, supportive, and solutions-driven process to address and resolve recurring issues.
• Manage the overall LSA Compliance process utilizing strategic planning to anticipate regulatory changes, implement process improvements, and enhance systems that support LSA's evolving portfolio.
• Provide clear, detailed guidance to the compliance team to ensure all work is completed accurately, efficiently, and in alignment with federal, state, and local regulations.
• Providing coaching, training, and professional development opportunities to enhance the expertise and performance of the compliance team.
• Develop a structured system to ensure contractors are effectively utilized by aligning their work with contract expectations.

PROPERTY COMPLIANCE

• Maintain TSP documentation by property, including required updates and adjustments due to company or regulatory changes.
• Review monthly compliance reports on all properties for accuracy, identifying recurring issues, and providing assurance that funder requirements are being met.
• Manage and create compliance training programs for onsite staff to ensure a thorough understanding of income certifications, file approvals, and program requirements, fostering consistency and efficiency.
• Maintain a thorough understanding of funder-specific reports, processes, and deadlines, ensuring strict compliance with all regulatory timelines.
• Establish and manage the process to conduct detailed file reviews, particularly during periods of staffing shortages, capacity constraints, or time-sensitive submissions to maintain operational efficiency.
• Oversee the review and submission of all initial lease-up and occupancy files for new properties, ensuring accuracy before submission.
• Adhere strictly to file submission deadlines, proactively addressing discrepancies or missing documentation prior to final approval.
• Manage income qualification grievances, collaborating with regional operations staff to address and resolve issues in a timely and compliant manner.
• Work with property teams to ensure readiness for property inspections conducted by state agencies and other funders.
• Establish and maintain an organized resident file management system, including oversight of Management and Occupancy Review (MOR) binders.

QUALIFICATIONS

• Bachelor's degree and/or equivalent education and work experience are preferred.
• The successful candidate will have clear knowledge of layered funding, including Low-Income Housing Tax Credit, HOME, Section 811, HUD-RAD, project-based Section 8, public housing, local Housing Trust Funds, and FHLB Affordable Housing rules.
• It is important that the candidate has a good understanding of LURA's state agency requirements, including NCHFA, GA DCA, VHDA, and the HUD's guide for occupancy requirements.
• Candidate needs to maintain HCCP and COS Certifications or similar designations and attend all regular training for funding programs.
• Excellent communication and writing skills.
• Organizational skills and ability to prioritize managing competing demands and obligations.
• Advanced in Excel, Teams, and all Microsoft Office products.
• RealPage experience preferred

Travel: This is a remote position with required travel of approximately 50% to the Charlotte office and properties within the LSA portfolio.