The Compliance Manager 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 Manager 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 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)
- 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
- Provide support in the development of staff to execute the risk and control framework and administrative compliance at the site-level
- Provide necessary training