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This position is responsible for reviews of third-party appraisal reports for Commercial lending. This individual will provide superior service to the bank’s Customers, Commercial business line partners, Senior and Executive Officers. This individual must have exceptional knowledge of USPAP and Interagency Guidelines relative to appraisals for lending purposes, credit policy, and process development. This individual provides direct support for both commercial and residential property appraisal reviews; as well as reviews of third-party environmental assessments . Responsible for liaison work between vendors and the bank. This individual will have responsibility of recommending bank and departmental guidelines that follow USPAP, Interagency Guidelines and Credit Policy. This individual will be responsible for assisting with technically written departmental procedures; as well as assisting with drafting bank’s credit policy standards applicable to appraisal guidelines.
Essential Functions/Responsibilities
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Perform reviews of appraisal and evaluation reports for all property types and value levels to ensure that market values developed for financially related transactions are reasonably supported, credible and compliant with federal and state regulations, USPAP, FIRREA, bank appraisal policies/procedures, and industry standards.
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Manage the valuation process effectively from end to end, including engagement and communication with vendors to ensure timely delivery of the report; as well as, to resolve discrepancies and obtain revisions as needed, and acting as liaison for all communication between vendors and the bank.
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Responsible for assisting management and team accomplish department goals.
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Achieve and maintain a satisfactory level of department turn-around times, per the department’s service level agreement with the lines of business.
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Responsible for adhering to SOX controls for appraisals and, along with management, meet with various bank executives and lines of business leadership in Sales, Credit, Compliance, Legal, Credit Risk, Audit and federal examiners as may be applicable.
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Assist and train other team members and provide support in the review process.
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Assist with development and implementation of departmental procedures.
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Assist with drafting standards for Credit Policy relative to appraisals as required per Inter Agency Guidelines
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Other duties may be assigned.
Minimum Knowledge, Skills, and Abilities Needed to Perform Essential Functions of the Job
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General (commercial) appraisal certification.
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Bachelor’s degree (B.A.); or equivalent combination of education and experience.
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Ten years’ experience with commercial property appraisal, commercial property appraisal review, commercial collateral underwriting, and/or commercial property analysis and market conditions.
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Professional Designation or advanced candidate for designation by an appraisal organization (AI, NAIFA, ASA, RICS, etc.)
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Appraisal or review experience with a variety of property types. Experience with complex and specialty property types is preferred (LIHTC, health care, hotel, special use, etc.).
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Read and communicate findings of Environmental Assessment reports to ensure adherence with bank environmental policies/procedures.
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Define problems, collect data, establish facts, and draw valid conclusions.
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Identify and elevate critical issues in a timely manner.
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Adapt to frequent policy/process changes.
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Learn quickly and independently.
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Compliance with support of bank’s strategic initiatives.
Preferred Knowledge and Skills
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Multi state active commercial licenses or willingness to obtain
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Ten years field experience with complex commercial property types ( LIHTC, Specialty use Investment CRE, Ag, HealthCare, …)
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Field experience with residential valuations.
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Experience with YouConnect/Glances (or another similar appraisal management platform).
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Leadership & Supervisory experience.
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Proficient with technology to investigate/implement enhancements to systems in use.
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Prior review experience or experience with a lending institution.
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Knowledge of federal regulatory requirements.
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Knowledge of Agency/Partnership requirements (FNMA, FHLMC, SBA, Farmer Mac, etc.).
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Proficient in technical writing to assist with development or update of department process/procedures and job aids, as well as ability to lead and present same to department.
Level of Complexity and Scope
Manage the valuation process from end to end (from engagement through review) for the highest value and most complex properties.
Perform independent analysis to provide own value indication, as warranted.
Degree of Independence and Decision-Making
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Works independently to draw valid conclusions related to compliance and reasonableness of the analysis and value conclusions. Follows established guidelines and requires minimal supervision or guidance.
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Uses subject matter expertise to advise others.
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May on rare occasion for bank provide own opinion of value in state with active license.
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Defines scope parameters and identifies appropriate vendors for engagement of valuation and environmental services.
Required Supervisory Responsibilities
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Contribute to the development of department staff in a mentorship capacity.
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Provide oversight and aid to department staff, as needed.
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Assist with quality control of internal staff reviews and file documentation.
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Identify, implement and/or support process improvements and opportunities for efficiency.
Physical Requirements
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Occasionally lifts and carries up to 20 lbs.
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Occasionally stands and walks.
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Frequently sits.
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Must be able to work on a computer most of the day.
Compliance Statement
The associate is responsible for meeting all compliance requirements imposed on First Financial Bank by State and Federal law and regulation, as well as all related First Financial Bank policies and procedures. This includes all Bank Secrecy Act, Anti-Money Laundering, OFAC and Suspicious Activity reporting requirements, as well as all other lending and deposit compliance requirements.
Development and Training
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Attend real estate appraisal courses and seminars to continually advance job competency and to obtain/maintain applicable credentials.
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Continual development of relevant market knowledge and real estate trends.
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Ability to learn and perform the administrative tasks relevant to the appraisal review process.
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Ability to learn with various tools including written procedures, verbal instruction, webinar videos
Pay Range:
$100,000/year to $150,000/year
Benefits
We have relevant, thoughtful benefits and programs that support every aspect of our associates' holistic wellbeing. Please review our Benefits Guide.
Incentive Eligibility
All roles are incentive eligible with the exception of Co-Op, Intern, or Student positions.
It is our policy to not discriminate against any individual in violation of federal, state, and local laws as it relates to age, race, color, religion, national origin, sex, marital status, pregnancy, gender identity, disability, sexual orientation, genetic information, veteran/military service, or any other characteristic protected by law.
We are an E-Verify Employer.
