Compliance Manager

Green Alpha Property Management is the property management division of Emerald City Associates, a vertically integrated real estate investment and management platform headquartered in Raleigh, North Carolina. The company manages a growing portfolio of multifamily properties across multiple states, including both conventional and affordable housing communities.

Position Summary

The Compliance Manager will oversee regulatory compliance strategies across our affordable housing portfolio, with a primary focus on interpreting Land Use Restriction Agreements (LURAs) and tracking affordability restriction timelines.

This role will serve as our internal subject matter expert on regulatory agreements and affordability periods, ensuring the organization understands when properties may become eligible to begin the Qualified Compliance (QC) and Post-Compliance (PC) process to remove affordability restrictions.

In addition to regulatory interpretation and tracking, this role will support regulatory due diligence during acquisitions and oversee a Compliance Specialist responsible for operational compliance activities.

This is a strategic compliance role focused on regulatory interpretation, restriction tracking, and portfolio compliance planning.

Key Responsibilities

LURA Interpretation & Restriction Tracking

• Review and interpret Land Use Restriction Agreements (LURAs), Regulatory Agreements, and Extended Use Agreements.
• Track affordability periods, extended use periods, Qualified Compliance (QC) and Post-Compliance (PC) eligibility timelines.
• Maintain a portfolio-wide regulatory tracker outlining compliance periods and restriction expirations.
• Identify properties approaching regulatory expiration or PC eligibility and communicate timelines to leadership.

Regulatory Due Diligence (Acquisitions)

• Review regulatory agreements during property acquisitions.
• Identify and summarize affordability requirements, unit restrictions, and regulatory obligations.
• Evaluate current compliance status and identify potential risk areas.
• Prepare regulatory summaries and restriction timelines for asset management and leadership.

Portfolio Compliance Strategy

• Develop and maintain regulatory profiles for each property.
• Support long-term portfolio planning related to affordability restrictions and compliance periods.
• Monitor regulatory updates affecting affordable housing compliance.

Compliance Oversight

• Supervise a Compliance Specialist responsible for operational compliance tasks, including:
• Tenant file reviews
• Income certifications
• Annual reporting
• Agency submissions
• Audit preparation
• Provide guidance on complex compliance issues and regulatory interpretation.

Qualifications

Required Experience

• 5+ years of affordable housing compliance experience
• Strong experience interpreting LURAs and regulatory agreements
• Extensive knowledge of Low-Income Housing Tax Credit (LIHTC) compliance
• Experience with layered affordable housing programs such as tax-exempt bonds, HOME, or other housing programs preferred
• Supervisory experience preferred

Certifications (Required – Any of the Following)

• HCCP – Housing Credit Certified Professional
• SCHM – Specialist in Housing Management
• NPCC – National Professional Compliance Certification
• C3P – Certified Credit Compliance Professional
• TaCCs – Tax Credit Compliance Specialist
• Other recognized LIHTC compliance certifications

Skills & Competencies

• Strong attention to detail and analytical skills
• Ability to work independently with minimal direction
• Highly organized with strong documentation and tracking abilities
• Self-starter who can build processes and guide the organization on compliance best practices
• Strong communication skills to support operations teams and leadership

Benefits

• Medical, Dental, and Vision Insurance (company pays 80%)
• 15 days of Paid Time Off (PTO) annually
• 401(k) retirement plan with a 4% company match
• Paid Company Holidays