What are the responsibilities and job description for the Compliance Specialist position at Asset Living?
Company Overview
Asset Living is a third-party management firm with a proven partner in fostering thriving communities nationwide. Founded in 1986, Asset Living has decades of experience delivering exceptional value to our partners. Since the beginning, our undeniable passion has driven our organic growth from a small property management firm to one of the most trusted allies in real estate. Asset Living's growing portfolio includes a multitude of properties across the country that span the multifamily, single-family home rentals, affordable housing, build-to-rent, active adult, and student housing divisions.
Asset Living is a fast-growing company made up of talented individuals from diverse backgrounds that differentiate us and help us drive innovation and results for our clients and communities across the US. At Asset Living, we wholeheartedly believe 'Together We Lead, Together We Succeed. We empower each other to lead by example, collaborate, and evolve – inspired by our belief that we can continually improve as individuals and as an organization. Together, we create an environment where every voice is heard, every idea is valued, and every individual experiences opportunities to grow as our company grows. When you join Asset Living, you become part of a dynamic team that thrives on unity, unique talents, and a universal culture of winning.
Recognized as one of the nation's Best and Brightest Places to Work and ranked in the NMHC top 50 professionals, join Asset Living because of its reputation as the most trusted partner in real estate, workplace culture, and growth opportunities. Asset Living is a member of The Institute of Real Estate Management (IREM) and is recognized as an Accredited Management Organization (AMO). Together, we lead the way, and together, we achieve excellence in all that we do. Join a workplace where success is a collective journey and leadership is a shared responsibility.
Compliance Specialist
The Compliance Specialist is responsible for ensuring that the communities required reporting and regulatory requirements of maintaining program requirements set by the state, syndicators, asset managers and other entities to maintain compliance for affordable communities that are managed by the Company are met. The Compliance Specialist coordinates with various affordable communities to ensure all required procedures related to Compliance are followed accordingly.
Essential Duties & Responsibilities
1. Advise and work with new lease-up or take-over community on-site personnel with application process for move-in and recertification files. Set up new compliance summary and document files.
2. Perform the full scope of processing initial new applicant file reviews and recertification file reviews for approval prior admittance or continuation to insure all files are within policy, in compliance with the properties individual required programs and meets the states monitoring agency guidelines. This includes but not limited to; reviewing all applications/recertification applications and compliance paperwork in regards to applications filled out correctly upon initiation, income verifications, clarifications and any other required documents per program prior to certifications being executed. Complete the approval and entry to BP or MRI if applicable.
3. Monitor all Section 8 paperwork/inspections and correspondence and ensure it is being completed accurately and timely for admission and recertification process.
4. Prepare upcoming recertification summaries for regulatory eligibility.
5. Advise on-site personnel with processing of renewal certifications from communities/compares to previous years and approves file prior to resident recertifying (recertification documentation via PDF scan).
6. Update daily compliance summaries with information received current day with activity.
7. Prepare daily email summary of daily activity conducted.
8. Send approval; prepares Income Certification, Approval Form and Income calculation worksheet.
9. Update program report tab (manual and web-based, etc.).
10. Ensure NAU form documentation is completed and sent to community and NAU report is updated when applicable.
11. Collect and update all required service documentation and schedules.
12. Update required property contact sheets when notified of changes of on-site staff.
13. Obtain utility allowance updates from public housing authorities quarterly.
14. Ensure sensitive data is secure and managed appropriately within the compliance department and throughout the organization.
15. Demonstrate high standards of conduct and ethics as well as appropriate judgment, independence and discretion.
16. Attend weekly meeting/calls with supervisor to review/discuss any open or pending compliance issues.
17. Report audit findings to Supervisor to assist management with recommendations to develop appropriate action plans to address identified risks.
This job description should not be considered all-inclusive. It is merely a guide of expected duties. The employee understands that the job description is neither complete nor permanent and may be modified at any time. At the request of their supervisor, an employee may be asked to perform additional duties or take on additional responsibilities without notice.
