Operation Risk Manager

Related Companies Chicago , IL 60602

Posted 4 months ago


The Related Companies (Related) is the most prominent privately-owned real estate firm in the United States. Formed 40 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing, and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, Las Vegas, San Francisco, South Florida, Abu Dhabi and Shanghai and boasts a team of approximately 2,000 professionals.

Related is one of the nation's most active developers of affordable housing ranging from family, senior, urban, suburban, HOPE VI, SRO and intergenerational. Related places a high priority on developing, acquiring and preserving housing for this sector. In fact, over 60% of Related's 50,000+ residential apartment homes are part of one or more affordable housing programs. Related's in-house expertise in all disciplines ensures that we consistently set new standards for creative design, financing, and management.

As an integrated affiliate of The Related Companies, Related Management Company (RMC) provides property management services to virtually all of Related's portfolio of real estate assets. Valued at over $15 billion, the portfolio includes residential, mixed-use, retail and commercial properties, including over 50,000 apartments within 350 properties, and over 10 million square feet of commercial, retail and mixed-use space.

Since inception in 1974, RMC has set an exceptional performance benchmark for responsive and professional management. RMC's mandate is to support the owners' objectives by maintaining outstanding operational performance thereby building a reputation of excellence among owners and in the municipal and financial communities.



Your role with the Company:

The Operational Risk Coordinator provides support, training and resources in the context of leadership, management, operating procedures and administrative capacities to the Regional Vice President (RVP) and their respective portfolio of site teams and Regional Managers (RM). In alignment with portfolio objectives and priorities (i.e. meet or exceed budgeted Net Operating Income (NOI), mitigate compliance risks, maintain and improve the physical assets, etc.), the Operational Risk Coordinator will work to resolve vacancy challenges, maximize special claims, improve compliance, proactively identify operating procedure deficiencies, make policy recommendations and assist with recruiting, mentoring and training site team staff.

Core Responsibilities:

At the direction of the Regional Vice President, the Operational Risk Coordinator is directly responsible for the following:

  • In collaboration with the RM and RVP, the Operational Risk Coordinator will assist the team with vacancy challenges to maximize occupancy and income.

  • Maximize special claims vacancy recovery at section-8 sites by working with RMs and the RVP to ensure vacant units are rent-ready and once a unit becomes eligible for special claims, ensure the site team timely processes the special claim.

  • Assist the RVP and RM with site compliance of company policies, procedures and all program requirements.

  • Make operating policy recommendations, draft new guidelines and job aids for RVP approval and implement with RMs and site teams.

  • Participate in the recruiting process for open positions at sites, provide new hire onboarding and training and act as ongoing mentor for new and struggling employees.

  • Improve customer service by quickly responding to resident comments/complaints and escalating to RM and RVP as appropriate.

  • Provide administrative support to the RVP and their respective regional and teams.

  • Ad hoc projects, as needed.


The tasks in the Operational Risk Coordinator area of responsibility include, but are not limited to, the following:

  • Review vacancy trends and alert RVP where risks exist.

  • In collaboration with RM, draft leasing/marketing plans to address vacancy issues.

  • Provide the site teams leasing training and support, as needed.

  • Aggregate credit and other application approval criteria and make recommendations.

  • Having a comprehensive understanding of special claims, complete analysis of portfolio special claims on a monthly basis and work with RVP to resolve bottlenecks and increase capture of special claims as a ratio of tota vacancy dollars.

  • Participate in policy and procedure strategy discussions and draft new procedures that reduce operating risks and maximize revenue and compliance.

  • Assist as needed with new hire onboarding and training and act as a mentor for both new hires and tenured employees who are struggling.

  • Assist in the creation and updating of various manuals.

  • Understanding and updating of all building rules and regulations.

  • Supervision of cataloguing and indexing of files both manually and electronically.

  • Interaction with various trades and vendors, including third-party resources.

  • Archiving and management of digital documentation.

  • Assist with ad hoc projects as needed.


  • Must have 5+ years of property management experience at a Community Manager or higher leadership level with a proven track record of success.

  • Must have or be willing to attain (within 45 days of employment), an Illinois Real Estate Broker License.

  • The ideal candidate will have a Bachelor or Masters degree, although significant industry experience may be substituted for a college degree.

  • Industry designations such as Certified Apartment Management (CAM), Certified Property Manager (CPM) and others through the National Apartment Association (NAA) and/or Institute of Real Estate Management (IREM) are preferred.

  • Affordability Housing credentials, such as Certified Occupancy Specialist (COS) and Tax Credit Specialist (TCS) are preferred.

  • Must be eligible to work in the US and willing to travel to sites and work remote.


  • Position is based at the Chicago corporate office and requires the flexibility to effectively work from the downtown office, from site locations within 5 states (Minnesota, Wisconsin, Michigan, Illinois and Missouri), from a remote (home) office and from other States as needed.

  • Flexibility to travel 25%-50% of the time is essential, and may exceed 50% during and after peak acquisition periods or as business demands require.

  • Ability to work within a very dynamic environment and balance significant hours of office work and overtime.

  • Must be willing to work in both a controlled office environment and in outdoor conditions which may at times be harsh and include excessive heat, below freezing temperatures and may include conditions such as high wind, rain, snow, sleet, ice and otherwise hazardous conditions.

  • May occasionally be exposed to fumes or airborne particles, electrical hazards and moderately noisy areas



Related is an Equal Opportunity Employer

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Operation Risk Manager

Related Companies