Compliance Asset Manager (COM3)

About the Department

Compliance Asset Manager (COM3)
At the Department of Commerce, we’re reimagining what’s possible in government. We’re builders, thinkers, and change-makers, working at the intersection of innovation, community, and impact. From unlocking critical funding to fueling inclusive economic growth, we’re turning big ideas into real-world solutions that uplift people and places.

Our agency’s strength lies in the diversity of our workforce and the breadth of the lived experiences and perspectives employees bring to the work. We believe equity is not just a value but a practice, which is reflected in how we design programs, engage communities, and deliver outcomes. We foster a workplace culture where curiosity is encouraged, bold thinking is welcomed, and collaboration drives our impact.

This job is a commitment to reshape systems so they work better for everyone. If you’re ready to challenge the status quo and build meaningful connections, we want to meet you.

Let’s build what’s next, together.

The Housing Division (HD) partners with local governments, Tribes, housing authorities, nonprofits and other organizations to develop and preserve affordable housing, promote individual and family self-sufficiency, and reduce adult and youth homelessness.

This position works within the Multifamily Housing Unit (MHU) of HD and is responsible for specific tasks within the State Housing Trust Fund (HTF) and the federal HOME and National Housing Trust Fund (NHTF) programs. This position conducts Compliance Asset Management of HTF/HOME/NHTF projects within the portfolio by completing financial, occupancy and physical reviews of projects. This position provides technical assistance of the Web Based Annual Reporting System (WBARS) to both internal and external clients; reviews, updates and refines asset management and compliance processes, protocols and templates; and maintains current industry knowledge regarding HTF, HOME and NHTF, as well as the Uniform Physical Conditions Standards (UPCS) or National Standards for the Physical Inspection of Real Estate (NSPIRE).

This position exercises independent judgment and discretion regarding the interpretation and implementation of policies and regulations. Staff handle complex and conflicting issues, provide specialized expertise, and work with little or no technical oversight. This position coordinates with staff within the MHU, the agency, and external partners to ensure the effective and timely completion of assigned tasks and ensures that customer service is a priority.

Position Duties

Compliance Monitoring for HTF/HOME/NHTF Portfolio of Projects:
•Complete on-site monitoring of projects throughout the state of Washington for contractual requirements including physical standards, programmatic compliance, and tenant eligibility within the allotted timeframe. Deliverables include review of reports submitted by the contractors, completion of written reports, review of responses, and follow-up as needed.
•Identify compliance risks for reporting to management and take appropriate corrective action when necessary.
•Conduct capital needs assessment reviews, management plan reviews, and financial performance reviews to evaluate project and portfolio sustainability.
•Work with the compliance asset management team to review, update, and refine compliance monitoring protocols, processes, and templates used by Commerce staff.
•Participate on the statewide Combined Funders Monitoring Task Force and the Inspection Sub-Committee.
•Provide technical knowledge of portfolio projects during the application and funding round process to peers and management.
•Work with compliance asset management team to establish performance thresholds and standards for the identification and escalation of compliance issues.
•Provide technical assistance to project owners and property management for HTF, HOME, NHTF and WBARS requirements.
•Manage assigned projects inspected by other funders to ensure appropriate documentation is received, internal data base is updated, and compliance issues are resolved.
•Complete desk reviews of projects inspected by other Funders.

Annual Reporting and Review for HTF/HOME/NHTF Portfolio of Projects:
•Conduct Annual Report Reviews for the HTF/HOME/NHTF Portfolio including notification to contractors of annual reporting due and follow up with contractors on delinquent statuses.
•Conduct compliance reviews of annual reports and refer compliance issues for follow up as appropriate.
•Review financial and occupancy data for compliance with HTF, HOME and NHTF program and contract requirements.
•Interact directly with project owners and property managers to provide technical assistance and/or seek clarification of data submitted using Commerce’s Web Based Annual Reporting System (WBARS).
•Conduct compliance reviews of annual reports and refer compliance issues for follow up as appropriate.
•Review Commerce internal database to ensure data is accurate at time of review.

MHU Data Systems Corrections and Improvements:
•Conduct regression and enhancement testing in WBARS and HCMS.
•Conduct regular quality screening, assess and report system errors or “bugs” and assist with troubleshooting and testing the systems, as needed.

Project Management to Compliance Asset Management Transfer for HTF/HOME/NHTF Portfolio of Projects:
•Manage transfer process of internal projects from project management to asset management.
•Coordinate with project owners and property managers of newly completed projects to ensure projects are in compliance with funding requirements.
•Ensure Commerce internal database are up to date at time of transfer.

Maintain Knowledge of Industry Best Practices:
•Comprehensive understanding of the Uniform Physical Conditions Standards (UPCS) and National Standards for the Physical Inspection of Real Estate (NSPIRE)and keep current on any and all changes. Provide technical assistance and train contractors on UCPS and NPSIRE and changes to these standards
•Maintain a comprehensive understanding of the HTF, the federal HOME, and NHTF program compliance requirements and keep current on any and all changes. Provide technical assistance and train contractors on the programs and changes to the programs and requirements.

Minimum Qualifications

Required Position Qualifications:
Seven (7) years of combined experience and/or education as described below:

Experience in affordable housing, multi-housing finance, development with a focus in two or more of the following areas:
•Contract Management related to Affordable Housing
•Affordable Housing Asset Management
•Project Management of affordable housing
•Demonstrated understanding of multifamily/rental housing development and lending, and related real estate transactions and legal documentation.
•Demonstrated understanding of affordable housing finance, including layered financing using private and public funds, tax credits, and partnership structures.
•Demonstrated Understanding of the Uniform Physical Conditions Standards (UPCS) or the National Standards for the Physical Inspection of Real Estate (NSPIRE), Housing Quality Standards or other inspection standards.

Education involves housing finance, business, public administration or related field. Qualifying education post High School or equivalent may be substituted year for year for experience.

Examples of how to qualify:
•7 years of experience
•6 years of experience and one year of education
•5 years of experience and two years of education
•4 years of experience and three years of education
•3 years of experience and four years of education
•2 years of experience and five years of education
•1 year of experience and six years of education

Preferred/Desired Qualifications:
•Good understanding of state and federal low-income housing program regulations.
•Demonstrated understanding of the Washington State Housing Trust Fund or with U.S. HUD programs, such as HOME or federal Housing Trust Fund, Low-Income Tax Credit Program, or other similar programs.
•Experience developing rental housing or home ownership opportunities in rural communities.
•Experience with writing and implementing policies and procedures.
•Willingness to work flexible hours and in a collaborative, team-based environment.

Required Position Competencies:
•Demonstrated skills in organization, team building, and succession planning.
•Demonstrated ability to collaborate and build partnerships, develop work teams, and work effectively with the authorizing and external environment.
•Demonstrated ability to manage and work with diverse personalities, styles, and cultures.
•Ability to apply negotiation and conflict resolution skills.
•Exceptional written and verbal communication skills, as well as interpersonal and relationship building skills.
•Knowledge of agencies, institutions, and processes involved in real estate development.
•Advanced proficiency with Microsoft Excel and ability to create and manipulate pro forma financial models.

To be considered for this position the following are needed:

• A complete and detailed online application.
• A cover letter (enter online).
• At least three professional references (enter online).

For questions about this recruitment, please contact our recruitment team via email: [email protected] - please reference the job number in your message.

Other Qualifications

Work from Anywhere in Washington State 
This position may be located anywhere within Washington State though occasional travel to a Commerce office building or in-state travel to attend events or meetings may be required. If selected, you will need to travel to pick up equipment and receive instruction. Many Commerce employees work remotely or have a hybrid schedule.

This recruitment may be used to fill future vacancies over the next 60 days.

Technical support is provided by NEOGOV, 855-524-5627 (can't log in, password or email issues, error messages). DES job seeker support may answer general questions regarding the recruiting system at [email protected].
 
Our Commitment to Equal Opportunity 
The Washington State Department of Commerce is an equal opportunity employer. We strive to create a working environment that includes and respects cultural, racial, ethnic, sexual orientation and gender identity diversity. Women, racial and ethnic minorities, persons of disability, persons over 40 years of age, veterans or people with military status, and people of all sexual orientations and gender identities are encouraged to apply. Persons needing accommodation in the application, testing, or interview process or this job announcement in an alternative format may email Human Resources at [email protected].  Applicants who are deaf or hard of hearing may call through the Washington Relay Service by dialing 7-1-1 or 1-800-833-6388.
               
Department of Commerce also offers a competitive benefits package including: medical and dental insurance benefits, retirement and deferred compensation plans, 11 paid holidays each year, 14-25 vacation days per year (depending on length of employment), 8 hours of sick leave per month (if full time employed), bereavement leave, an employee assistance program, as well as other benefits. Please see the Benefits Tab for more details.

Benefits

More than Just a Paycheck!
Employee benefits are not just about the kind of services you get, they are also about how much you may have to pay out of pocket. Washington State offers one of the most competitive benefits packages in the nation.

We understand that your life revolves around more than just your career. Like everyone, your first priority is ensuring that you and your family will maintain health and financial security. That's why choice is a key component of our benefits package. We have a selection of health and retirement plans, paid leave, staff training and other compensation benefits that you can mix and match to meet your current and future needs.

Read about our benefits:
The following information describes typical benefits available for full-time employees who are expected to work more than six months. Actual benefits may vary by appointment type or be prorated for other than full-time work (e.g. part-time); view the job posting for benefits details for job types other than full-time.

Note:  If the position offers benefits which differ from the following, the job posting should include the specific benefits. 

Insurance Benefits
Employees and their families are covered by medical (including vision), dental and basic life insurance. There are multiple medical plans with affordable monthly premiums that offer coverage throughout the state.

Staff are eligible to enroll each year in a medical flexible spending account which enables them to use tax-deferred dollars toward their health care expenses. Employees are also covered by basic life and long-term disability insurance, with the option to purchase additional coverage amounts.

To view premium rates, coverage choice in your area and how to enroll, please visit the Public Employees Benefits Board (PEBB) website. The Washington Wellness program from the Health Care Authority works with PEBB to support our workplace wellness programs.

Dependent care assistance allows the employee to save pre-tax dollars for a child or elder care expenses.

Other insurance coverage for auto, boat, home, and renter insurance is available through payroll deduction.

The Washington State Employee Assistance Program promotes the health and well-being of employees.

Retirement and Deferred Compensation
State Employees are members of the Washington Public Employees' Retirement System (PERS).  New employees have the option of two employer contributed retirement programs.  For additional information, check out the Department of Retirement Systems' web site.

Employees also have the ability to participate in the Deferred Compensation Program (DCP).  This is a supplemental retirement savings program (similar to an IRA) that allows you control over the amount of pre-tax salary dollars you defer as well as the flexibility to choose between multiple investment options.

Social Security
All state employees are covered by the federal Social Security and Medicare systems. The state and the employee pay an equal amount into the system.

Public Service Loan Forgiveness
If you are employed by a government or not-for-profit organization, and meet the qualifying criteria, you may be eligible to receive student loan forgiveness under the Public Service Loan Forgiveness Program.

Holidays 
Full-time and part-time employees are entitled to paid holidays and one paid personal holiday per calendar year.

Note: Employees who are members of certain Unions may be entitled to additional personal leave day(s), please refer to position specific Collective Bargaining Agreements for more information.

Full-time employees who work full monthly schedules qualify for holiday compensation if they are employed before the holiday and are in pay status for at least 80 nonovertime hours during the month of the holiday; or for the entire work shift preceding the holiday. 

Part-time employees who are in pay status during the month of the holiday qualify for the holiday on a pro-rata basis. Compensation for holidays (including personal holiday) will be proportionate to the number of hours in pay status in the month to that required for full-time employment, excluding all holiday hours. Pay status includes hours worked and time on paid leave.

Sick Leave 
Full-time employees earn eight hours of sick leave per month. Overtime eligible employees who are in pay status for less than 80 hours per month, earn a monthly proportionate to the number of hours in pay status, in the month to that required for full-time employment. Overtime exempt employees who are in pay status for less than 80 hours per month do not earn a monthly accrual of sick leave. 

Sick leave accruals for part-time employees will be proportionate to the number of hours in pay status, in the month to that required for full-time employment. Pay status includes hours worked, time on paid leave and paid holiday.

Vacation (Annual Leave)
Full-time employees accrue vacation leave at the rates specified in WAC 357-31-165(1) or the applicable collective bargaining agreement (CBA). Full-time employees who are in pay status for less than 80 nonovertime hours in a month do not earn a monthly accrual of vacation leave.

Part-time employees accrue vacation leave hours in accordance with WAC 357-31-165(1) or the applicable collective bargaining agreement (CBA) on a pro rata basis. Vacation leave accrual will be proportionate to the number of hours in pay status, in the month to that required for full-time employment.

Pay status includes hours worked, time on paid leave and paid holiday.

As provided in WAC 357-58-175, an employer may authorize a lump-sum accrual of vacation leave or accelerate the vacation leave accrual rate to support the recruitment and/or retention of a candidate or employee for a Washington Management Service position. Vacation leave accrual rates may only be accelerated using the rates established WAC 357-31-165.  

Note: Most agencies follow the civil service rules covering leave and holidays for exempt employees even though there is no requirement for them to do so. However, agencies are required to adhere to the applicable RCWs pertaining holidays and leave.

Military Leave
Washington State supports members of the armed forces with 21 days paid military leave per year.

Bereavement Leave 
Most employees whose family member or household member dies, or for loss of pregnancy, are entitled to five (5) days of paid bereavement leave. In addition, the employer may approve other available leave types for the purpose of bereavement leave.

Additional Leave
Leave Sharing
Parental Leave
Family and Medical Leave Act (FMLA)
Leave Without Pay

Please visit the State HR Website for more detailed information regarding benefits.

Updated 01-07-2026

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Agency Information

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View Job Posting for Location, Washington, 98504 Website http://www.careers.wa.gov