Illinois Housing Development Authority · 2 weeks ago
Asset Manager
Chicago, IL
Full-time
Hybrid
Entry, Mid Level
$69K/yr - $87K/yr
2+ years expThe Illinois Housing Development Authority (IHDA) is a leading Housing Finance Agency dedicated to financing affordable housing in Illinois. The Asset Manager will monitor compliance for IHDA-assisted developments, ensuring operational adherence to regulations while managing relationships with property owners and agents.
Financial ServicesLendingReal Estate
Responsibilities
Implements proactive strategies to resolve properties’ operational condition compliance issues
Informally paired with a compliance group for each project inclusive of a Compliance Analyst, Physical Inspector, and Financial Analyst
Formally paired with a Compliance Analyst assigned to the same project portfolio to provide coordinated, comprehensive service
Collects and contributes data to determine annual operations rating
Conducts initial and ongoing on-site and desk monitoring reviews (including tenant file reviews) of assigned portfolio of projects based on prescribed timeframes (to assess and facilitate compliance with applicable Federal, State, local rules and standards)
During monitoring reviews, assesses the operational compliance (i.e. management, occupancy) against related regulatory requirements so that the related housing remains affordable, decent, safe, and sanitary
Prepares and maintains all operational compliance documentation (including compliance monitoring findings, responses, resolutions, reports) as required
Serves as primary point of contact and relationship manager between owners/agents and Asset Management department
Proactively communicates with the property owner, manager, agent regarding operational issues, compliance requirements, options and deadlines for resolution
Appropriately refers troubled properties to the Portfolio Risk Management group
Participates in pre-occupancy and post-closing discussions and meetings as appropriate
Participates in regular loan monitoring, watchlist, delinquency meetings as appropriate
Intakes, responds to, and resolves tenant inquiries or complaints in coordination with owner/agent
Intakes, responds to, and resolves owner/agent inquiries or complaints
Performs other duties and handles other special projects/initiatives as assigned
Qualification
Required
Bachelor's degree required. Experience may be substituted for education at the discretion of the Asset Management department
At least 2 years' experience conducting asset management/operational compliance administration for Federally-financed affordable multifamily rental housing developments required
Proficiency in Microsoft Office Suite required
Training: Certified Occupancy Specialist (COS), Tax Credit Specialist (TCS), Blended Occupancy Specialist (BOS), HOME Compliance Specialist (HCS), training required (completed within one year or earliest available date, whichever is later)
Valid Driver's License: Required
Access to Personal Vehicle: Required along with appropriate insurance
Frequency of Travel: Frequent – 50-75% annually
Preferred
Thorough knowledge of the following funding sources/programs desired: LIHTC, HOME, Section 8, Risk Share, Tax Exempt Bonds, and Illinois Affordable Housing Trust Fund
Certifications: Certified Occupancy Specialist (COS), Tax Credit Specialist (TCS), Blended Occupancy Specialist (BOS), HOME Compliance Specialist (HCS), Housing Credit Certified Professional (HCCP) preferred
Benefits
Paid time off, plus paid holidays
Medical/dental/vision/life insurance plans
Short/long term disability
Tuition reimbursement
Flex spending
401K plan – immediate vesting
IHDA employees may be eligible for federal loan forgiveness programs
Company
Illinois Housing Development Authority
Illinois Housing Development Authority provides an array of loans, mortgage, lending, financial, housing, rental, and real estate services.
201-500 employees
Funding
Current Stage
Growth StageLeadership Team
Timothy Hicks
Deputy Chief Financial Officer, Managing Director Accounting
Keith Evans
Chief Information Officer
Recent News
2025-07-16
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