KCDC Compliance Manager

Location:

JOB TITLE:

KCDC LIHTC Compliance Manager

ABOUT THE BUSINESS:

Key Community Development Corporation (KCDC) provides much needed investment dollars for affordable housing and community development projects in urban and rural communities across all 50 states via direct and indirect investment in communities. Affordable housing owner-operators and developers looking to build, acquire and preserve affordable housing come to us because we know how to move complicated deals over the finish line. Our clients leverage Key's broad, fully integrated platform. In addition, we can help assemble innovative and complex financing in conjunction with multiple for-profit, nonprofit and government entities. Helping communities thrive is more than our business, it's our mission.

ABOUT THE JOB:

Key Community Development Corporation is seeking a self-starting manager to lead its LIHTC Compliance policy and procedure processes. This position will play a critical role in achieving KeyBank's goal of supporting affordable housing and community development throughout the country. This role will take a hands-on approach to drafting and implementing procedures, overseeing third party compliance activities, completing tenant file audits, and ensuring LIHTC compliance for KCDC investments. Reporting to the Asset Management Team Lead, this position collaborates with the asset management team and the broader line of business including Underwriting, Relationship Managers, Syndications, and more while directly overseeing the LIHTC Compliance process for direct LIHTC equity investments.

WHAT YOU'LL GET FROM THIS OPPORTUNITY:

• A competitive base salary + discretionary bonus
• Generous benefits - 401(k) matching (dollar-for-dollar up to 7%), PTO, comprehensive healthcare packages, fitness and tuition reimbursement and so much more.
• Be part of a specialized team that values our client relationships by developing a deep understanding of their needswith a focus on the full long-term solution.

ESSENTIAL JOB FUNCTIONS:

• Develop, implement and manage procedure and training guidelines for LIHTC compliance reviews.
• Serve as subject matter expert for all LIHTC and affordable housing compliance matters internally and externally.
• Liaise with third party compliance teams to review first year tenant files and audit reliance letters, confirming review criteria and outcome align with KCDC's expectations and requirements.
• Proactively manage portfolio-wide compliance by establishing appropriate timing and scope of interval testing.
• Serve as a trusted advisor to clients and the CDLI team. Establish strong credibility with internal and external stakeholders based on sound judgement and accurate and timely information sharing.
• Advise on deal underwriting with the ability to communicate the nuances of LIHTC compliance for unit delivery, placed in service guidelines and lease up requirements.
• Conduct first year file reviews and on-going file compliance reviews.
• Conduct necessary follow-up with the appropriate source, whether internal or external, to obtain any missing or additional documentation to successfully complete file audits.
• Manage a team of LIHTC compliance specialists and allocate workload appropriately among team members.

SUCCESSFUL CANDIDATE WILL HAVE:

• Expert level of understanding of LIHTC tenant file regulations and state level affordable housing requirements.
• Ability to work under pressure, manage concurrent responsibilities, and change focus based on shifting priorities and identified downstream impacts.
• Expert analytical, interpersonal, and communication skills.
• Expert problem-solving skills.
• Uses time effectively and efficiently; can attend to a broad range of activities and keep projects/tasks moving forward while ensuring others do the same.
• Ability to lead and collaborate with others towards achievement of shared goals.

REQUIRED QUALIFICATIONS:

• 5+ years of direct LIHTC tenant file compliance experience.
• Demonstrated technical expertise in Low Income Housing Tax Credit and affordable housing compliance.
• Demonstrated ability to communicate effectively in both written and verbal communication.
• Commitment to serving low- and moderate-income clients and neighborhoods.

PREFERRED QUALIFICATIONS:

• 10+ years of direct LIHTC tenant file compliance experience.
• Bachelor's degree in business, real estate development, accounting, finance or a related field or advanced degree.
• Recognition as an affordable housing compliance expert with relevant industry certifications.
• Experience leading a team of compliance specialists in the affordable housing space.

COMPENSATION AND BENEFITS

This position is eligible to earn a base salary in the range of $120,000 to $150,000 annually depending on location and job-related factors such as level of experience. Compensation for this role also includes eligibility for short-term incentive compensation and deferred incentive compensation subject to individual and company performance.

Please click here for a list of benefits for which this position is eligible.

Key has implemented an approach to employee workspaces which prioritizes in-office presence, while providing flexible options in circumstances where roles can be performed effectively in a mobile environment.

Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.

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