Compliance Associate - LIHTC

Job Description

What is the opportunity?

RBC Capital Markets – Tax Credit Equity Group (www.rbccm.com/tceg), part of the Royal Bank of Canada (RBC) firm, is a leading national syndicator of State and Federal Low Income Housing Tax Credits (LIHTCs), Historic Rehabilitation Tax Credits (HRTCs), and New Markets Tax Credits (NMTCs). The Compliance Associate - LIHTC is responsible for monitoring the TCEG property portfolio to ensure that they are in compliance both with various State/Federal funding programs. State/Federal Programs include, but are not limited to LIHTC, HUD subsidy programs, HOME, CDBG, and other Affordable Housing Programs.

What will you do?

• Responsible for the collection of 10% annual audit tenant files and 100% initial tenant files for entire portfolio.
• Communicate with outside vendors on file submissions and the tracking internally of the status of all file reviews.
• Review of tenant files as well as analyzing compliance risk for an assigned portfolio for annual 10% compliance audits.
• Analyzes, summarizes and reviews data; accurately report findings, interprets results and/or makes recommendations on annual state inspections.
• Responsible for the collection of actual rents and utility allowances for entire portfolio on an annual basis.
• Assist department in the collection and input of data into the Asset Management database for the life of a project, in addition to maintaining property files on the TCEG shared server.
• Maintain current knowledge on modifications to the various funding programs utilized for Affordable Housing properties.
• Communicate non-compliance issues to the attention of the V.P. of Asset Management Operations for guidance and corrective actions.
• Assumes special projects as assigned.
  

What do you need to succeed?

Must-have

• Associate’s Degree in Business, plus a minimum of two years experience in multi-family real estate finance or rent-restricted multifamily asset or property management
  • OR -
• Five to seven years experience in multi-family real estate finance or rent-restricted multifamily asset or property management
• Proficiency in MS-Outlook and MS-Office applications
• Strong organizational skills with the ability to coordinate complex activities, prioritize conflicting demands and meet deadlines
• Keen analytical skills and attention to detail
• Strong interpersonal skills, highly motivated and able to work independently
• Excellent verbal and written communication skills
  

Nice-to-have

• Working knowledge of the LIHTC program and the IRS 8823 Guide
• Tax Credit Certification from a recognized and reputable agency

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

About RBC
Royal Bank of Canada is Canada’s largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America’s leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis. We have over 80,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 37 other countries. For more information, please visit rbc.com.

Inclusion and Equal Opportunity Employment
RBC is an equal opportunity employer committed to diversity and inclusion. We are pleased to consider all qualified applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veterans status, Aboriginal/Native American status or any other legally-protected factors. Disability-related accommodations during the application process are available upon request.

JOB SUMMARY

City: Cleveland
Address: 600 Superior Ave
Work Hours/Week: 40+
Work Environment: Office
Employment Type: Permanent
Career Level: Experienced Hire/Professional
Pay Type: Salaried
Position Level: CM – Associate
Required Travel(%): 0-25
Exempt/Non-Exempt: Exempt
People Manager: No
Application Deadline: 10/01/2019
Req ID: 187665