Internal Appraisal Supervisor

Supervise appraisal, environmental and flood determination engagement functions for the Bank. Monitor quality and turnover of assignments. Perform appraisal reviews and validate appraiser’s assumptions and valuation methodologies.

Responsibilities

• Primary responsibility entails engaging & reviewing the entire appraisal process for development and construction loans, including acquisition/refinancing of the five core property types consisting of multifamily/apartments, office-warehouse/flex space, retail/shopping center, hotel/motel and Special Asset properties.
• Implement a well-defined and effective appraisal program that meets acceptable standards (Regulatory FIRREA, Dodd-Frank, & USPAP) regarding appraiser qualifications & independence that conforms to safe and sound banking practice.
• Identify the scope of the review process to be conducted and criteria to guide the appraiser in performing the appraisal process. Maintain independent control of the appraisal/valuation and internal review process, provide for timely receipt of appraisals to facilitate the underwriting function and assess validity of evaluations to support transactions. Review existing credit policy ensuing consistency with appraisal program and recommend changes to the Credit Risk Manager.
• Act as liaison between appraiser and institution. Review appraisals by judging the accuracy, reliability and credibility of the appraisal reports. Design and assist in the process of appraiser selection. Periodically review original appraisal assumptions for adequacy and conformity with changing market conditions and establishes criteria for ordering re-appraisals where necessary (especially when substantive changes or modifications have occurred in the collateral subsequent to the original valuation approval due to changing market conditions).
• Update and maintain the Approved Vendors List.
• Assess existing or proposed project’s marketability and feasibility prospects by taking into consideration the assumptions and projections used by the appraiser to support valuation methodologies and highest-and-best use value conclusions. Utilize research or studies provided by third-parties (external vendors) and assess the impact these assumptions may have on the respective valuation methods should be fully explained and documented (e.g. capitalization rate, DCF projections, absorption rate, etc.)
• Perform collateral inspection and due diligence of real estate collateral as deemed necessary.
• Special lender needs, such as estimate of lease-up costs and expenses to carry a project to stabilization for repositioned properties, change in the size, design or configuration of the project, the actual or effective loss of an anchor tenant, any change in key assumptions that could potentially affect collateral value due to market instability and any other value situations that may require a separate formal market survey (lodging facilities, and special/single purpose properties, out-of-territory permanent financing, etc.)
• Coordinate and work closely with supporting staff and maintain appraisal database and statistical information.
• Oversee process for appraisals review for loans below the established loan amount threshold.
• Ensure preventive measures are carried out to fully comply with current rules, regulations and internal policies relating to risks pertaining to BSA, USA Patriot Act, OFAC and other AML related issues.
• To identify, evaluate, monitor and make any recommendation deemed necessary to their respective Risk Management Committee in order to assess, reduce, eliminate or control any current or prospective risks to earnings or capital arising from violations of, or nonconformance with, laws, rules regulations, prescribed practices, internal policies and procedures or ethical standards.
  
  

Minimum Education And/or Certifications Requirements

Stated Certified Appraiser. A bachelor’s degree or equivalent.

Minimum Work Experience Requirements

At least 5 years’ experience in banking. Experience in working with appraisal, environmental and property condition reports is important.

Technical And/or Other Essential Knowledge

Detailed oriented, good analytical and writing skills a must. Ability to work as a team leader and independently. Understanding of the Bank’s credit policy and products. Previous experience with Internet and MS Office Skills, including MS Word, MS Excel, MS PowerPoint required.