Karen Romaine Thomas never imagined a career in affordable housing, let alone leading a prominent organization in the field. Yet today, she serves as the “energetic” CEO of National Housing Compliance (NHC). She has turned challenges into stepping stones, making her mark in an industry she initially entered by chance. Karen doesn’t view anything as a failure, which is a key to her success and the reason she serves as an inspiration and role model for aspiring leaders. She says, “I see any challenging opportunity as a stepping stone that prepared me for where I am today, for the seat I occupy now.”
At NHC, Karen is now in her second year as CEO; she previously served as CFO. She is both a leader who leads as well as serves, as she believes that in order to lead, one is always serving someone—whether it is your board or your staff. “If you are a leader who is not serving, you’re not giving much thought to the team you’re leading,” she says.
“Great leadership begins with listening and understanding the needs of those around you.”
Stepping Into Affordable Housing Space
Karen transitioned to affordable housing because of a situation she was in after moving back to the U.S. from Europe, where she had gone for an expat assignment. “When it was time for me to repatriate to the United States, the company I was working for in Atlanta had relocated the office to Minnesota,” she shares. She telecommuted for a couple of years, but she then realized that it wasn’t the right fit for her or her family.
When she began exploring new opportunities, the opportunity in the affordable housing space kind of fell into her lap, according to her. She points out that not many people in the housing industry would describe it as a field they aspired to enter, or a dream they actively pursued.
“It’s something that finds you,” Karen says. “It did find me, and I’m grateful that it found me because I appreciate the cause.” She highlights that affordable housing is a real struggle and a real challenge in the U.S. “Being part of a cause to make it better and benefit people has just been inspiring within itself,” she adds.
Challenges as a Woman
Women in leadership roles are often not taken seriously, Karen notes, highlighting it as a common initial challenge that women leaders face. They must prove their skills and demonstrate that they can compete equally, regardless of one’s gender.
Karen shares that women also have to be very careful when they step into leadership roles. She explains that if they come across as too strong, they are labeled difficult to work with—the woman leader becomes “the aggressive person at work.” This is something that men generally don’t have to deal with. Karen says that while it is acceptable for men to adopt a very assertive management style, assertive women are often viewed negatively. This perception may persist, until a woman shows she is as smart as anyone else in the room, according to her.
Karen, however, has never allowed this challenge to demotivate her or impact her work. For her, it has been a driver. “It’s something that drives me because I want to give my best,” she says.
Karen considers herself fortunate as she got the opportunity to work with some really good leaders—both men and women. She also doesn’t feel that being a woman has been a detriment to her career. “Granted, I probably had to work harder than the average man in order to get to this position, but I have also, experienced challenges being a person of color,” she says.
“I’ve always had to work harder, both as a woman and as a person of color,” Karen says. Despite that, she does not view either challenge negatively.
About National Housing Compliance
NHC is a compliance company in the affordable housing arena. Karen points out that they are a PBCA, short for project-based contract administrator. They manage the US Department of Housing and Urban Development’s (HUD’s) Project-Based Section 8 program for the states of Georgia and Illinois. Karen explains that they have been working in partnership with HUD for more than twenty years. We play a critical role in helping HUD administer this rental assistance program, which serves nearly 1.2 million families.
NHC’s ultimate goal is to ensure that residents in affordable housing live in a safe, sanitary, and habitable environment. “We are responsible for specific compliance tasks to make sure this goal is met,” Karen says.
NHC is a contract-driven organization, and its revenue grows primarily because of the increases outlined in the terms of the contract. This program is rebid on a national level. Karen, who joined NHC in 2008, says that it has not been successfully rebid since she joined. “We have maintained the same two contracts that we had when I first started,” she adds. “However, we are currently seeking additional revenue opportunities to further our growth and diversify our revenue stream.”
Greatest Achievements
For Karen, one of her greatest achievements was her European assignment. She recalls moving to another continent with her entire family; there, she had to integrate into a new culture and ensure her children were happy and thriving in an unfamiliar environment. Karen says that she initially joined the operation as an outsider, and successfully brought the team together, transforming it into a unified group. It shaped her future at the time and taught her not to give up.
“You continue to pursue and find ways to make sure that you are successful,” she says. “You take your learnings and stand on those learnings to get to the next step.”
“Commit to excellence!”
Karen considers earning her MBA as another significant achievement. She completed the program with a 4.0 GPA while working full-time and pregnant with her first child. “It was incredibly challenging, but I persevered and put in the hard work necessary to graduate summa cum laude,” Karen says.
Responsibilities of a CEO
Karen points out that a CEO does not usually have a regular day—there is no normalcy at all. As she is leading the company, the board is her top priority. She explains that she has a fiduciary responsibility to the board to successfully run the organization. She also makes sure that she is adhering to the strategies or goals that she and her executive team have put in place.
Some of the goals include ensuring profitability, making sure the staff is unified, and providing a safe environment for everyone who works at NHC. “We have a responsibility to our staff, and I take that responsibility very seriously,” Karen says. She is very much invested in the progress and well-being of the employees. She says that she wants people to enjoy coming to work every morning. “I also want people to feel like they’ve accomplished something by the end of the day,” she adds.
In her role as CEO, Karen takes immense pride in her advocacy work on Capitol Hill – a new endeavor for her organization. Recognizing the importance of establishing a presence in Washington, D.C., she believed it was essential given their focus on managing government contracts. Although stepping into this arena was outside her comfort zone, Karen successfully developed this skill with the guidance of mentors and industry experts. She collaborates closely with members of Congress and their teams, focusing her advocacy on ensuring that NHC’s role in the affordable housing industry continues to strengthen its partnership with the Department of Housing and Urban Development. Her efforts aim to influence decision-makers to sustain the PBCA program with minimal changes that could negatively impact the affordable housing sector.
Karen admits sometimes it is hard to maintain a work-life balance. “There are times when it’s harder than others because, at the end of the day, I have a duty to this organization and I have to ensure we’re operating at optimal efficiency to maintain our contracts,” she explains. Fortunately, Karen has two chief officers with whom she shares a great partnership. According to her, when she is overloaded, they are right there, acting as her right and left hands.
Karen is motivated by the drive to do a good job. She thrives on giving her best. “When I hear my board say, ‘Thank you, Karen, for a job well done,’ it means everything. It lets me know that I’m on the right path and doing the right thing.”
Recently, NHC received the Great Place To Work® certification, a recognition Karen is incredibly proud of. According to her, this achievement is based on interviews with all their employees and meeting specific criteria across various areas. “I’m not sure we could have accomplished this five years ago, but we did it under my leadership, along with the leadership of my two chief officers,” Karen says. “It’s a great success story because it shows that our employees are proud to work at NHC!”
Success Is Achieving Balance in One’s Life
For Karen, success is all about being able to balance one’s life. She points out that in the initial phase of her career, like most professionals, she was constantly working—almost 70 hours a week—so that she could get to the next level. Today, she prioritizes her family as well.
“Today, I think success is all about balance because family is important,” Karen says. “You don’t want to miss out on personal opportunities because you’re so deeply involved in the business side of your life.” She believes she is successful because of her ability to maintain a balance between her personal life and her professional life.”
“Success is not just about achieving goals but staying true to your values. Build a career where you feel you can make a difference.”
Goals and Plans for the Future
Karen is focused on acquiring companies that align with her organization’s mission. “Our primary goal is to sustain the contracts we currently manage,” she explains, “but we’re actively pursuing acquisitions that complement our work and diversify our existing revenue streams.”
Karen and her team are currently evaluating two potential acquisitions, working closely with a broker to bring their plans to fruition. Determined to make progress, she emphasizes, “We’re committed to securing at least a couple of acquisitions before my tenure ends. My goal is to have one acquisition finalized by the end of 2025.”
On a personal level, Karen is dedicated to preserving the balanced and fulfilling life she has cultivated. “I’m rich in spirit and family,” she shares, “and I want to maintain that.”
Influencing the Next Generation
Karen observes that the next generation is markedly different from those that came before, often referring to them as the “microwave generation” due to their desire for instant results. “They want everything quickly, and if it doesn’t happen right away, they tend to move on,” she explains.
Her advice to this new generation is simple yet profound: “Slow down,” Karen urges. “Take your time. Let things unfold in their own time. Not everything has to happen instantly.”
Message to Aspiring Leaders
Karen encourages aspiring leaders in the industry to trust their instincts and view failures as stepping stones to success. She emphasizes that every failure carries a lesson, transforming it into a valuable opportunity for growth. She also urges them to remain steadfast in pursuing their goals.
“I always tell my kids, ‘If you really want something, you have to work hard for it. It’s not going to come easy.” Karen shares. “Anything truly worthwhile requires effort and commitment, and you have to give it your all.”
“View challenges as stepping stones for your future success.”
For aspiring leaders, Karen advises giving 110% toward achieving their goals. “If you get knocked down, get back up and start again,” she says. “Keep fighting until you’ve accomplished what you set out to achieve.”
Achieved Every Dream!
Karen reflects on her journey with gratitude, believing she has surpassed all her early career aspirations. Initially, she never envisioned reaching the CEO level. “When I became CFO, I thought that was my ceiling,” she admits. “I was proud of my achievement as CFO.” For her, achieving that role felt like reaching the pinnacle of success she had dreamed of in the early stages of her career.
When the CEO position at NHC became available, Karen didn’t initially see herself in the role nor did she actively pursue it. “It was suggested that I consider it,” she recalls. After some reflection, she decided, “Why not?” Looking back, Karen says, “I’ve achieved more than I ever thought possible in my career.”
