Compliance Specialist

It's fun to work in a company where people truly BELIEVE in what they're doing!

We're committed to bringing passion and customer focus to the business.

Entry-level professional with some experience to contribute on a project or program. Role learns to use professional concepts to resolve problems of limited scope and complexity under close supervision while achieving day-to-day objectives. Works on developmental assignments that are initially routine in nature, requiring limited judgment and decision making. This level is typically focused on self-development. Requires theoretical knowledge through specific education and training.

Job Purpose

Monitor program compliance for all Hybrid projects that were awarded an allocation of Low-Income Housing Tax Credits as well as additional, specialty funding sources to include PHARE Realty Transfer Tax (RTT), Development Cost Relief Program (DCRP), Construction Cost Recovery Program (CCRP), Exchange / Tax Credit Assistance Program (TCAP) and any other hybrid properties.  Assist Owner/Agents in annual document submissions and maintain compliance throughout the entirety of both the initial and extended use periods.

Essential Functions

Process unit set-up information from the Project History Form.

Review and analyze annual reports of all Hybrid projects to determine compliance with the Low-Income Housing Tax Credit Program, specific funding sources and PHFA programmatic requirements.

Review and analyze Tenant Income Certifications and supporting documentation for compliance with income and rent limits of the Low-Income Housing Tax Credit Program.

Conduct abbreviated Management Review on all Hybrid projects.

Review Tenant Data Reports and Compliance Monitoring Reports to identify any non-compliance and follow-up on findings with external partners.

Review and approve rental increases on Hybrid projects in accordance with the PHFA rent approval policy. Communicate noncompliance issues with tax credit property owners and with the IRS. Review, assist, and respond to requests and correspondence from external partners and Agency personnel regarding the Low-Income Housing Tax Credit Program to include tenant complaints.

Prepare IRS Forms 8823 for processing.

Maintain the Agency’s Low Income Housing Tax Credit Program compliance files.

Update the AS400 and Automated Web Entry System.

 Participate in the Housing Management Compliance Training Group by creating training materials and presenting these materials to our external partners

 Attend conferences, workshops, trainings, and meetings on behalf of PHFA.

 Maintain open and frequent communication with the Manager of Tax Credit Compliance regarding non-compliance issues.

Complete special projects as assigned by the Manager of Tax Credit Compliance.

Answer written and/or verbal communications regarding the Low-Income Housing Tax Credit Program and other Hybrid/portfolio funding sources.

Maintain up-to-date knowledge of the IRS Section 42 Low Income Housing Tax Credit Program: including Code, Revenue Procedures, Notices, Rules, and Regulations.

Other duties as assigned

Education/Experience: B. S. Degree from accredited academic institution; or three years work experience in the affordable housing industry.  

Knowledge/ Skills:

Ability to communicate effectively, both verbally (including public speaking) and in writing. Strong background in compliance preferred. Ability to multi-task and work independently. Computer literate in Microsoft Office applications. 

Must be detail oriented and have strong analytical skills.

Ability to travel periodically, including overnight and out of state.

As an employer, PHFA is committed to having a workforce that is diverse and reflects the residents that it serves. We strive to maintain a workplace where all employees and applicants for employment receive equal opportunities in all aspects of employment. There are numerous policies in place at PHFA to help us honor this commitment.

The Pennsylvania Housing Finance Agency is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to age, disability, family status, gender, national origin, political affiliation, race or religion.

PHFA values, honors and commits to the equitable treatment and elimination of discrimination in all forms. We are committed to the diversity of all staff, and in all programs and services offered.