The Appraisal Review Manager’s primary function will be to support the loan origination process, by ensuring adherence to risk appropriate real estate valuation standards. This position will also have ultimate responsibility for all aspects of appraisal activity, including development and observance of policy and procedure, selection and review of both appraisals and appraisers, and compliance to all Regulatory and Legal requirements as they relate to real estate collateral valuation.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.
Develop, implement, support, and maintain the Bank’s real estate appraisal policy to meet regulatory requirements as set forth in USPAP, FIRREA, and Interagency Guidelines.
Provide expert support to various departments through appraisal reviews, evaluations, and determination of Net Realizable Values.
Ensure that appraised values submitted are properly supported, reasonable, and in compliance with all federal and state regulations, as well as Bank policies and procedures.
Serves as an educational resource to FIB staff on appraisal and general real estate/collateral questions, as well as Bank policies and regulatory requirements.
May supervise inspection and maintenance of properties acquired via foreclosure. Will have input into appraisal and loan policy.
Responsible for evaluating and maintaining appraisal standards, guidelines, techniques, and methods for conformance with policies, procedures, and applicable laws and regulations.
Approves all new valuation products.
Approves Vendor Management programs to assess provider quality and oversees provider progressive discipline program.
Track appraisal and Automated Valuation Model vendor performance.
Ensure the optimization of appraisals and automated valuation products for loan production.
Has final authority on determining real estate collateral value to be used with a lending decision.
Educates key constituents on policy through formal presentations, conference calls, and meetings.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
EDUCATION and/or EXPERIENCE
Bachelor s degree (B.A.) or (B.S.) from four-year college or university and 8 years Real Estate appraisal experience, at least 5 years of which should be in commercial property appraisal or equivalent combination of education and experience considered. Must have current banking experience, with 5+ years in a supervisory role preferred. Certified General Appraiser and MAI preferred. Vendor management experience preferred. Web based systems management preferred.
Ability to read, analyze, and interpret common scientific and technical journals, financial reports, and legal documents. Ability to respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community. Ability to support examination findings and communicate important issues in a timely manner to branch management and higher levels, as may be required. Ability to write reports that conform to a prescribed style and format. Written report should be such that the department manager may distribute it without a formal review, when necessary. Ability to effectively communicate information to senior management. Recognize and promptly report potential problems while recommending possible solutions. Provide coaching and training to junior team members throughout the field exam process to ensure that both timely and quality work is produced.
Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume. Ability to apply concepts of basic algebra and geometry.
Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit and talk or hear. The employee is occasionally required to stand; walk; use hands to finger, handle, or feel; reach with hands and arms; and stoop, kneel, crouch, or crawl.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually moderate.
First Interstate Bank - 2 years ago
First Interstate Bank is a multi-state, $7.1 billion banking organization headquartered in Billings, Montana. First Interstate has evolved...