What are the responsibilities and job description for the Sr. Valuation Risk Analyst position at Columbia Bank New Jersey?
Summary: Serves as the lead valuation reviewer with a focus on the most complex property types and assignments.
Job Responsibilities:
Valuation Review
Affirmative Action Employer/Males/Females/Protected Veterans/Individuals With Disabilities
This is a hybrid role, 3 days in the office with 2 days work from home based on business need.
Job Responsibilities:
Valuation Review
- Evaluates complex individual appraisal reports and evaluations to ensure compliance with regulatory guidelines and bank policy. Recommends action to achieve compliance for unacceptable appraisal reports. Assesses the validity of existing appraisals and evaluations.
- Assists in the review of non-complex environmental reports to ensure compliance with regulatory guidelines and bank policy. Works with environmental professionals to resolve issues; assesses the validity of existing environmental reports.
- Monitors and maintains a risk-focused valuation process to ensure the level of reporting and depth of the commercial valuation reviews are consistent with bank policy and to support lending decisions.
- Assists in monitoring and maintaining an environmental risk management program for a lending context, which is risk-adjusted based on key transaction factors.
- Conducts periodic reviews of commercial valuation and environmental reports as part of a quality assurance program.
- Acts as an alternate liaison between the Collateral Risk Department and commercial lending, credit, credit risk review, and special assets areas to resolve appraisal and environmental issues, while maintaining independence from lending areas.
- Assists with review of the Valuation Policy as well as the Environmental Liability and Risk Policy. Makes recommendations to the department head for changes or enhancements to the policies for compliance with regulatory requirements and to implement appropriate best practices.
- Through a Vendor Management Program, assists with overseeing the monitoring and documenting of the performance of the commercial appraisal compliance with bank policy and departmental procedure.
- Reviews proposed transaction information to understand the risk profile and determine the appropriate level of valuation due diligence required to meeting regulatory and policy standards.
- Assists with monitoring the primary commercial real estate markets served by the bank.
- Prepares or assists with the design of periodic real estate market briefings for lending, underwriting, and senior management.
- Presents or assists with presenting key market updates to internal groups.
- Provides other training when needed both within and outside the department.
- Stays current on and takes required education courses based on market need and license requirements. Takes career development courses consistent with departmental needs.
- Monitors changes in industry technology for workflow, commercial valuation modeling, and environmental monitoring.
- Serve on project teams or focus groups for the selection of new technology tools, with a focus on driving greater efficiency in the commercial area of department, enhancing communication with other departments, continually improving customer service, and risk mitigation.
- Works with the department head and other departments, including IT and Risk, to implement technology in use by the commercial area of department.
- Working with department staff and members of the lending teams to develop and distribute complex residential and commercial RFPs.
- Based on a cursory review of reports received, assists with review assignment to internal and external reviewers.
- Processes completed appraisal reviews, track reviewer quality and update departmental databases and workflow tools document vendor performance.
- Update vendor management documentation and tools including vendor management tracking and periodic performance reports.
- Bachelor’s Degree required.
- Master’s Degree preferred.
- 4 – 6 years related experience.
- Commercial - General (Appraisal) License required.
- Professional Designation required (ex: MAI, ASA, MRICS).
- Ability to collaborate cross-functionally.
- Effective written and verbal communication skills.
Affirmative Action Employer/Males/Females/Protected Veterans/Individuals With Disabilities
This is a hybrid role, 3 days in the office with 2 days work from home based on business need.
