Chief Appraiser

Chief Appraiser

Appraisal Review Team

VA Office

The Chief Appraiser will provide for the implementation and administration of the real estate collateral valuation program for all commercial and residential property collateral. The Chief Appraiser will maintain the real estate appraisal policy and procedures reflective of the regulatory requirements and the real estate lending posture of the Bank. The Chief Appraiser will ensure that all credit staff and loan officers are adequately trained with respect to such policy and procedures. The Chief Appraiser will serve as a principal advisor to senior management in matters related to real estate valuation, appraisal techniques, appraisal regulations and guidelines, appraisal policy, and valuation dispute resolution.

1. Administer and maintain the list of approved appraisers; Manage the initial approval of all new appraisers; manage procedures for the selection of individual appraisers and procedures to monitor their ongoing performance; generate and maintain a database to capture concern regarding an appraiser’s performance; manage the annual certification of all appraisers on the appraisal list. 15%

2. Administer and manage the ordering, performing, and reviewing of all appraisals and evaluations; cancel appraisals as necessary; ensure that appraisals comply with the appraisal regulations and the Interagency Guidelines; ensure that appraisals and evaluations contain sufficient information to support the credit decision; review or assign the review of appraisals and evaluations in a timely manner by a qualified individual (independence, education, and training qualifications) to facilitate a credit decision; manage and resolve concerns and deficiencies with appraisals and appraisal reviews. 50%

3. Manage the content and appropriate use of appraisals and evaluations consistent with safe and sound banking practices; assess whether an existing appraisal or evaluation may be used; implement internal controls that promote compliance with these programs standards; manage criteria for obtaining appraisals or evaluations for transactions that are not otherwise covered by the appraisal requirement (i.e., when do you order an appraisal versus using an existing appraisal?) 20%

4. Maintain the real estate appraisal policy and its annual review; maintain database of exceptions to the appraisal policy; monitor portfolio collateral value and on a semi-annual basis, report to the Board on real estate collateral and vacancy trends. 10%

5. Conduct or arrange for an annual review of the performance of all approved appraisers used within the preceding 12-month period to determine compliance with approved policies and procedures and the reasonableness of the value estimates reported. A risk based sample of appraisals will require a third party desktop review. 5%

Minimum Qualifications Include:

• State certified appraiser
• 8-10 years;predominately commercial real estate appraisal experience; some residential appraisal experience could be helpful
• Strong knowledge of FIRREA, USAP, rules of regulatory agencies and banking regulations
• College degree is required.
• Certified General appraiser (State) license
• MAI (Commercial Appraiser) and AI-GRS (Appraisal Institute – General Review) and AI-RRS (Residential Reviewer) appraiser designations
• Computer proficient in Word, Outlook, Excel, Teams, and appraisal management and commercial real estate appraisal software
• Additional skills needed:

  • Thorough, acknowledged understanding of real estate valuation principles and procedures. Knowledge of co-operative apartment sector and valuation methods preferred but not necessary.
  • Strong analytical skills.
  • Strong decision-making skills.
  • Strong ability to recognize weaknesses in real estate collateral.
  • Strong ability to recognize weaknesses in real estate valuation techniques.
  • Good multiple project management skills.
  • Good knowledge of regional real estate markets.
  • Good knowledge of real estate industry.
  • Good oral and written communication skills.
  • Some awareness of economic issues.
  • Some training skills.
  • Familiarity with loan review and regulatory exam procedures.
  • Strong familiarity with Title XI of FIRREA, Appraisal and Evaluation Guidelines, and USPAP.
  • Some familiarity with environmental risk issues.

AA/EOE