Compliance Auditor - Section 42 Compliance Experience Required at Utah Housing Corporation in West Valley City, UT, USA

Job description

• Utah Housing Corporation (UHC), located in West Valley City, Utah, is seeking to hire a full-time Compliance Auditor - Section 42 Compliance Experience Required with a minimum of three years of Section 42 housing experience to support the Multifamily Finance & Development Department. This position is responsible for monitoring affordable housing projects for compliance with Section 42 of the Internal Revenue Code, state requirements, and applicable affordable housing program requirements. The Compliance Auditor conducts tenant file and financial reviews, performs physical property inspections, identifies compliance issues, and works with property owners and management agents to resolve deficiencies and maintain compliance.
• UHC's mission is to serve Utah's housing needs through finance and innovation. We are guided by core values of integrity, respect, communication, teamwork and collaboration, and growth and development, which shape how we work together and support the communities we serve. We are looking for someone who embodies these values and takes pride in contributing to a purpose-driven organization.
• This Compliance Auditor reports to the Housing Credit Compliance Manager and is classified as a non-exempt position. The Compliance Auditor position pays between $46,821 and $61,246 annually, based on education and experience. UHC offers a comprehensive benefits package that includes employer contributions to Utah Retirement Systems (URS), PEHP traditional health plans, and a high-deductible health plan with HSA contributions. Additional benefits include dental and vision coverage, flexible spending accounts, group term life and accident insurance, and retirement options including 401(k), 457, IRA, and Roth IRA plans. Employees also enjoy an onsite fitness center, 30 minutes of paid daily exercise, a convenient onsite market, flexible work hours, and limited remote work opportunities within a supportive, coaching-oriented environment.

Responsibilities

• The Compliance Auditor coordinates with other department auditors to develop and complete monthly inspection schedules and conducts compliance monitoring for Housing Credit projects. This role reviews tenant files to determine whether owners and management agents are properly qualifying tenants and following applicable program requirements. The position also reviews Land Use Restrictive Agreements (LURAs) to determine whether projects are meeting applicable restrictive covenant requirements and analyzes rent rolls, ledgers, fees, utility allowances, and other financial information to determine whether units meet applicable rent restrictions and limits.
• The Compliance Auditor conducts physical property inspections in accordance with the National Standards for the Physical Inspection of Real Estate (NSPIRE). Inspections include applicable low-income buildings and a sample of low-income units, with reviews of sites, building exteriors and interiors, building systems, common areas, and individual units. Following audits and inspections, the Compliance Auditor documents findings in the compliance system, communicates results to appropriate parties, tracks required corrections, and monitors completion to ensure deficiencies are addressed within required timeframes.
• The Compliance Auditor supports the issuance and resolution of IRS Form 8823 when applicable and monitors quarterly tenant and financial reporting through the Certification Portal. The position communicates with owners and management agents regarding outstanding reporting requirements, and issues appropriate notices when projects are not in compliance. Responsibilities also include reviewing annual compliance reports, maintaining accurate project and ownership information in the Multifamily Finance Compliance database, and notifying owners and the IRS of applicable compliance issues.
• The Compliance Auditor provides technical support and guidance to property owners, management agents, and on-site personnel regarding Section 42 compliance. The position responds to questions and correspondence, assists with issue resolution, and may interface with the IRS regarding compliance matters. This role also contributes to the development and updating of compliance procedures, forms, training materials, presentations, webinars, and other educational resources for owners and management agents.

Requirements

• Qualified candidates should have an associate degree or equivalent combination of education and experience, along with a minimum of three years of experience working with Section 42 housing. The successful candidate will have a strong understanding of Section 42 compliance requirements and proficiency with Microsoft Excel, PowerPoint, Outlook, and Word. Candidates should demonstrate strong analytical and organizational skills, attention to detail, effective written and verbal communication, and the ability to independently manage multiple projects, deadlines, and compliance requirements. The position requires the ability to travel overnight as needed, drive UHC vehicles, and participate in training and industry conferences.

Skills

Required

• Attention to detail
• Ability to travel overnight as needed
• Ability to drive UHC vehicles