Compliance Asset Manager (COM3)

State of Washington

Lacey (WA)

Hybrid

USD 95,000 - 130,000

Full time

3 days ago

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Job summary

Washington State Department of Commerce is seeking a Compliance Asset Manager to oversee HTF, HOME and NHTF project compliance, perform desk and on-site reviews, and provide technical assistance on WBARS and asset management processes. You will ensure timely reporting, review financial data, and support program governance.

The role requires seven years of combined experience in affordable housing compliance, asset management, and knowledge of UPCS/NSPIRE standards, with strong collaboration

Qualifications

Seven years of combined professional experience and/or education as described below.
Experience with HTF, HOME and NHTF programs or similar affordable housing financing is preferred.
Ability to interpret and apply state and federal regulations related to housing finance and asset management.

Responsibilities

Perform off-site desk reviews for contractual compliance and tenant eligibility.
Conduct on-site monitoring for physical and programmatic compliance as needed.
Identify compliance risks and take corrective actions.
Review financial and occupancy data for program compliance.
Support WBARS data entry and technical assistance for stakeholders.
Coordinate with internal teams and external partners to ensure timely task completion.

Skills

Compliance management

Asset management

HTF/HOME/NHTF knowledge

UPCS/NSPIRE

Policy interpretation

Stakeholder collaboration

Technical assistance

Education

Housing finance degree

Tools

Excel

WBARS

Pro forma modeling

Job description

Compliance Asset Manager (COM3)

**This is an internal posting for current Commerce employees**

At the Department of Commerce, we’re reimagining what’s possible in government. We’re builders, thinkers, and change-makers, working at the intersection of innovation, community, and impact. From unlocking critical funding to fueling inclusive economic growth, we’re turning big ideas into real-world solutions that uplift people and places.

Our agency’s strength lies in the diversity of our workforce and the breadth of the lived experiences and perspectives employees bring to the work. We believe equity is not just a value but a practice, which is reflected in how we design programs, engage communities, and deliver outcomes. We foster a workplace culture where curiosity is encouraged, bold thinking is welcomed, and collaboration drives our impact.

This job is a commitment to reshape systems so they work better for everyone. If you’re ready to challenge the status quo and build meaningful connections, we want to meet you.

Let’s build what’s next, together.

The Housing Division (HD) partners with local governments, Tribes, housing authorities, nonprofits and other organizations to develop and preserve affordable housing, promote individual and family self-sufficiency, and reduce adult and youth homelessness.

This position works within the Multifamily Housing Unit (MHU) of HD and is responsible for specific tasks within the State Housing Trust Fund (HTF) and the federal HOME and National Housing Trust Fund (NHTF) programs. This position conducts Compliance Asset Management of HTF/HOME/NHTF projects within the portfolio by completing financial, occupancy and physical reviews of projects. This position provides technical assistance of the Web Based Annual Reporting System (WBARS) to both internal and external clients; reviews, updates and refines asset management and compliance processes, protocols and templates; and maintains current industry knowledge regarding HTF, HOME and NHTF, as well as the Uniform Physical Conditions Standards (UPCS) or National Standards for the Physical Inspection of Real Estate (NSPIRE).

This position exercises independent judgment and discretion regarding the interpretation and implementation of policies and regulations. Staff handle complex and conflicting issues, provide specialized expertise, and work with little or no technical oversight. This position coordinates with staff within the MHU, the agency, and external stakeholders to ensure the effective and timely completion of assigned tasks and ensures that customer service is a priority.

Compliance Monitoring for HTF/HOME/NHTF Portfolio of Projects:

Complete off-site desk reviews of projects for contractual requirements including programmatic compliance, and tenant eligibility within the allotted timeframe. Deliverables include completion of written reports, review of responses, and follow-up as needed. This would include those funded by both Commerce and other public funders.
On an as needed basis, complete on-site monitoring of projects throughout the state of Washington for contractual requirements including physical standards, programmatic compliance, and tenant eligibility within the allotted timeframe. Deliverables include review of reports submitted by the contractors, completion of written reports, review of responses, and follow-up as needed.
Identify compliance risks for reporting to management and take appropriate corrective action when necessary.
Conduct capital needs assessment reviews, management plan reviews, and financial performance reviews to evaluate project and portfolio sustainability.
Work with the compliance asset management team to review, update, and refine compliance monitoring protocols, processes, and templates used by Commerce staff.
Participate on the statewide Combined Funders Monitoring Task Force and the Inspection Sub-Committee.
Provide technical knowledge of portfolio projects during the application and funding round process to peers and management.
Work with compliance asset management team to establish performance thresholds and standards for the identification and escalation of compliance issues.
Provide technical assistance to project owners and property management for HTF, HOME, NHTF and WBARS requirements.
Manage assigned projects inspected by other funders to ensure appropriate documentation is received, internal data base is updated, and compliance issues are resolved.

Annual Reporting and Review for HTF/HOME/NHTF Portfolio of Projects:

Conduct Annual Report Reviews for the HTF/HOME/NHTF Portfolio including notification to contractors of annual reporting due and follow up with contractors on delinquent statuses.
Conduct compliance reviews of annual reports and refer compliance issues for follow up as appropriate.
Review financial and occupancy data for compliance with HTF, HOME and NHTF program and contract requirements.
Interact directly with project owners and property managers to provide technical assistance and/or seek clarification of data submitted using Commerce’s Web Based Annual Reporting System (WBARS).
Conduct compliance reviews of annual reports and refer compliance issues for follow up as appropriate.
Review Commerce internal database to ensure data is accurate at time of review.
Train and provide ongoing assistance to other team members on the annual report review process.

MHU Data Systems Corrections, Improvements and Technical Assistance:

Conduct regression and enhancement testing in WBARS and HCMS.
Conduct regular quality screening, assess and report system errors or “bugs” and assist with troubleshooting and testing the systems, as needed.
Provide advanced level technical assistance to contractors.
Assist team members with troubleshooting reporting errors in the web-based reporting system.

Project Management to Compliance Asset Management Transfer for HTF/HOME/NHTF Portfolio of Projects:

Manage transfer process of internal projects from project management to asset management.
Coordinate with project owners and property managers of newly completed projects to ensure projects are in compliance with funding requirements.
Ensure Commerce internal database are up to date at time of transfer.

Maintain Knowledge of Industry Best Practices:

Comprehensive understanding of the Uniform Physical Conditions Standards (UPCS) and National Standards for the Physical Inspection of Real Estate (NSPIRE)and keep current on any and all changes. Provide technical assistance and train contractors on UCPS and NPSIRE and changes to these standards.
Maintain a comprehensive understanding of the HTF, the federal HOME, and NHTF program compliance requirements and keep current on any and all changes. Provide technical assistance and train contractors on the programs and changes to the programs and requirements.

Required Position Qualifications:

Seven (7) years of combined professional experience and/or education as described below:

Experience

Compliance Management in Affordable Housing
Affordable Housing Asset Management
Demonstrated understanding of the Washington State Housing Trust Fund or with U.S. HUD programs, such as HOME or federal Housing Trust Fund, Low-Income Tax Credit Program, or other affordable housing finance programs.
Demonstrated understanding of affordable housing finance, including layered financing using private and public funds, tax credits, and partnership structures.
Demonstrated Understanding of the Uniform Physical Conditions Standards (UPCS) or the National Standards for the Physical Inspection of Real Estate (NSPIRE), Housing Quality Standards or other inspection standards.
Education involves housing finance, business, public administration or related field. Qualifying education post High School or equivalent may be substituted year for year for experience.

Examples of how to qualify:

7 years of experience
6 years of experience and one year of education
5 years of experience and two years of education
4 years of experience and three years of education
3 years of experience and four years of education
2 years of experience and five years of education1 year of experience and six years of education

Preferred/Desired Qualifications:

Good understanding of state and federal low-income housing program regulations.
Experience developing rental housing opportunities in rural communities.
Experience with writing and implementing policies and procedures.
Willingness to work flexible hours and in a collaborative, team-based environment.

Required Position Competencies:

Demonstrated skills in organization, team building, and succession planning.
Demonstrated ability to collaborate and build partnerships, develop work teams, and work effectively with the authorizing and external environment.
Demonstrated ability to manage and work with diverse personalities, styles, and cultures.
Ability to apply negotiation and conflict resolution skills.
Exceptional written and verbal communication skills, as well as interpersonal and relationship building skills.
Knowledge of agencies, institutions, and processes involved in real estate development.
Advanced proficiency with Microsoft Excel and ability to create and manipulate pro forma financial models.
Ability to take action to learn and grow
Ability to take action to meet the needs of others

To be considered for this position the following are needed:

A complete and detailed online application.
A cover letter (enter online).
At least three professional references (enter online).

For questions about this recruitment, please contact our recruitment team via email: comrecruitment@commerce.wa.gov - please reference the job number in your message.

Work from Anywhere in Washington State

This position may be located anywhere within Washington State though occasional travel to a Commerce office building or in-state travel to attend events or meetings may be required. If selected, you will need to travel to pick up equipment and receive instruction. Many Commerce employees work remotely or have a hybrid schedule.

This recruitment may be used to fill future vacancies over the next 60 days.

Technical support is provided by NEOGOV, 855-524-5627 (can't log in, password or email issues, error messages). DES job seeker support may answer general questions regarding the recruiting system at careershelp@des.wa.gov.

Our Commitment to Equal Opportunity

The Washington State Department of Commerce is an equal opportunity employer. We strive to create a working environment that includes and respects cultural, racial, ethnic, sexual orientation and gender identity diversity. Women, racial and ethnic minorities, persons of disability, persons over 40 years of age, veterans or people with military status, and people of all sexual orientations and gender identities are encouraged to apply. Persons needing accommodation in the application, testing, or interview process or this job announcement in an alternative format may email Human Resources at Human.Resources@commerce.wa.gov. Applicants who are deaf or hard of hearing may call through the Washington Relay Service by dialing 7-1-1 or 1-800-833-6388.

Department of Commerce also offers a competitive benefits package including: