Compliance Specialist, Asset/Property Management

Job Title: Compliance Specialist, Asset/Property Management
Location: Chicago, Baltimore, or San Diego
Reporting to: Associate VP, Asset Compliance Specialist

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LaSalle Investment Management is currently seeking a full-time Asset Compliance Specialist (ACS), Asset/Property Management based in Chicago, Baltimore, or San Diego.

Purpose and Scope: 

To ensure property level operational quality control within the asset management group, assist property management teams and LaSalle Center of Excellence (“CoE”) Team (asset managers, portfolio associates, and asset analysts), and assist portfolio managers as needed. 

Responsibilities:

The ACS will be aligned by Investment Vehicles/Clients and/or asset management teams and serves as a liaison between the property teams and LaSalle for many of the compliance related responsibilities associated with that group of assets. 

An ACS requires a working knowledge around transactions and transaction flow action steps.  They are trained in skills required to properly execute operational guidelines and various risk management related issues including:

  • Procore
  • Vendor contract management
  • Lease review/approval (via VTS)
  • Risk Management (various insurance related matters)
  • Yardi
  • Audits
  • Debt compliance
  • Acquisition onboarding and Disposition execution

 

The compliance duties include, but are not limited to:

  • Learning an in-depth knowledge of each Client’s investment management agreement and/or Fund documents to ensure LaSalle’s compliance
  • Monitoring property level operational quality control from both the asset management and property teams
  • Managing the capital approval and disbursement process through Procore
  • Coordinating and managing the vendor contract process working with legal, risk management and property teams
  • Managing the lease approval process through VTS, by overseeing VTS users to help verify that information is accurate and complete.  Work with property teams and analysts to complete their requirements
  • Responding to internal and external inquiries as appropriate
  • Advising CoE Team on any client specific requirements as it relates to asset operating activity
  • Overseeing risk management, including insurance and incident reporting with property teams
  • Document Management throughout the asset’s life cycle
  • Monitoring and working to ensure data integrity
  • Assisting with due diligence related to lenders, appraisals, buyers and sellers
  • Serve as first line of defense for property managers with questions around LaSalle processes
  • Create and enforce standardized approaches to property operations across all of LaSalle’s asset teams
  • Onboarding assets/new managers and managing compliance by the property teams

 

ACSs are on the front line of ensuring LaSalle meets the “duty of care” our clients expect from advisors managing their real estate and complies with internal controls required by various internal stakeholders.  Examples of the ACS activities include:

  • Educate and introduce property management teams on LaSalle property management operational guidelines and expectations
  • Manage capital approvals through Procore for all capital projects (which can include review of vendors’ bids, certificate of insurance, comparison to budget), approve and obtain asset manager’s approval in order to provide property managers with approval to begin capital projects
  • Manage capital disbursements (ensure all necessary items included) and approve in Procore for capital projects, lease commissions, and tenant improvements
  • Insurance oversight: including reviewing property management certificates of insurance (COI) and coordinating vendor insurance exception letters
  • Managing lease approval process through VTS and work with stakeholders to provide accurate information in Yardi
  • File Maintenance – Maintain internal property level electronic files including leases, closing documents, environmental and engineering reports, loan documents and other property documents as required on an ongoing basis
  • Facility Audit Control:  Establish and maintain a property level audit system to ensure that site personnel are operating within established procedures

 

Qualifications, Skills and Experience

  • BA/BS degree in real estate, finance, accounting or economics or related field with strong record of academic achievement
  • Minimum 3-5 years’ experience working with commercial real estate and/or property management
  • Self-starter with strong problem solving skills
  • Highly developed verbal and written communications skills
  • Ability to work independently and as part of a team in a very fast paced environment
  • Ability to work well under pressure with multiple competing deadlines
  • Proactive thinking with detail-oriented and creative problem-solving approach