• Operational Risk Coordinator

    Job Locations US-TX-Austin
    Job ID
    3293
    Function
    Property Management
    Location Name
    Riverside Townhomes
  • Overview

    Company Information

    • Affordable housing laid the foundation of Related Companies and we continue to place a high priority on developing, acquiring and preserving housing for this sector.
    • Over 60% of our 50,000+ residential apartment homes under our management are part of one or more affordable housing programs, and an additional 20% of these homes provide workforce housing.
    • In the area of acquisitions and refinancing, we pursue properties that meet one of the following criteria:
      • Section 8 properties with project-based contracts
      • Section 236 properties in need of rehabilitation
      • Section 42 LIHTC properties with expiring low-income restrictions
      • Section 515 FmHA properties with loans that can be prepaid
      • Other assisted properties, including HODAG, HOME, federal or state-financed public housing.
    • Many of the buildings we encounter are in need of substantial upgrading and preservation in order to continue to properly fulfill the needs of their tenants.
    • Given our 45 years of experience in debt and equity financing – as well as our extensive management of government-assisted properties – we are well positioned to buy out existing owners who lack the resources and experience to recapitalize and, therefore, wish to exit the affordable housing arena

    Responsibilities

    The Operational Risk Coordinator is an RMC Corporate role.  It is a role that supports the development and execution of the risk and control framework (policies, guidelines, SOPs, etc.) to accurately track and evaluate operational and compliance risk across a portfolio of assets.  This position interfaces directly with RMC Corporate Operations to ensure site-level administrative compliance of all affordable programs – which will include audit, training, process development, among others.  The Operational Risk Coordinator must also work with and on behalf of Ownership to execute effective annual administrative operating cycles, ensuring all regulatory requirements are completed, and liaise with the various governmental agencies, housing authorities, and other stakeholders to maximize economic outcomes, and minimize operational risks.  From time to time, this position may be called upon to perform corporate or ad-hoc projects to meet business needs.  The position requires proven success demonstrating leadership, problem-solving, decision-making, multitasking, and organizational skills.  The Operational Risk Coordinator’s schedule requires a minimum of 40 hours per week, and may include weekends and overtime, and travel, as needed.

     

    Risk and Control Framework

    • The Basel II definition of operational risk is: “the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events.”
    • Assist in the creation and development of necessary policies, procedures, guidelines, and SOPs to address the following event type categories: (1) internal fraud, (2) external fraud, (3) employment practices and workplace safety, (4) clients, products, and business practice, (5) damage to physical assets, (6) business disruption and systems failures, and (7) execution, delivery, and process management (https://en.wikipedia.org/wiki/Operational_risk)
    • To ensure understanding and operational implementation, communicate to all necessary stakeholders any documented changes that impact operations
    • Assist in the development, maintenance, and reporting of necessary business/operational indicators to monitor the effectiveness of the framework; key performance indicators (KPI), key risk indicators (KRI), and others as necessary
    • Execute necessary training, and methods, to ensure appropriate understanding and competency of the framework

    Administrative Compliance

    • Execute annual administrative operating rhythm – to ensure operational and regulatory compliance at the site-level; due dates, required documents, etc.
    • Report key indicators, scheduled and ad hoc, for internal and external constituents
    • Providing and/or coordinating ongoing administrative training in all areas where a need has been assessed, including presenting on-the-job training, coaching, or corrective action
    • Audit – monitoring and confirming that appropriate, regulatory program-compliant marketing, re-marketing and tenant selection processes are consistently in place, and reviewing staff adherence to all pertinent regulations
    • When necessary, work directly at the individual site-level to establish appropriate/best practices – most likely to occur at takeover of acquisition or development projects
    • Identify necessary training, and methods, to ensure appropriate understanding and competency by position (e.g. tax credit, section 8, EIV, either using internal or external sources)

    Stakeholder Engagement

    • Interface with government/regulatory agency representatives regarding affordable housing questions, compliance issues, etc. as needed.
    • Serve as liaison to necessary 3rd party vendors including, but not limited to: legal representation, consultants, and training providers
    • Partner with Owner groups, as necessary, to address and remedy operational risk issues

     

     

     

    Qualifications

    • Ability to communicate at a high level, both written and oral
    • Operate as a fiduciary at all times and in the interests of Ownership and/or the Company
    • Ability to work well with internal and external constituents is essential
    • Ability to solve problems and develop positive outcomes
    • Developing sufficient proficiency in all administrative areas, including but not limited to: housing program compliance, administrative operations and procedures, property management software programs, tenant/landlord actions and legal obligations, Fair Housing Section 504
    • Working knowledge of leasing software (Yardi and/or OneSite) and adhering to Company procedures in its use
    • Day-to-day activities are expected to be carried out with minor supervision

    #CB

     

    Related is an Equal Opportunity Employer. 

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