Primary responsibilities for this position are to procure and review commercial real estate appraisal and evaluation reports to ensure compliance with FIRREA, USPAP, Maine Appraisal law, bank policy and that the value conclusions are logical and appropriate for use by the bank’s commercial lines of business. Additionally, this position performs internal analyses, prepares conclusions documented in a written appraisal review and provides guidance to all commercial lines of business concerning appraisal/evaluation policies and lending decisions.
ACCOUNTABILITIES:
- In response to requests from lending personnel, orders and monitors appraisals and evaluations for commercial lending transactions.
- Maintains criteria for the content and appropriate use of evaluations consistent with safe and sound banking practices.
- Provides for receipt and review of appraisal or evaluation reports in a timely manner to facilitate the credit decision.
- Performs written appraisal and evaluation reviews for acceptance, rejection or modification of appraised values in an internal appraisal review document while satisfying internal production requirements.
- Ensures that appraisals and evaluations contain sufficient information to support the credit decision.
- Maintains knowledge of commercial property transactions and trends.
- Provides lenders and credit managers with high-quality consultation for informed and prudent loan decisions including value resolution issues and questions from the borrower.
- Establish criteria for obtaining appraisals or evaluations for transactions that are not otherwise covered by the appraisal requirements of Agencies’ appraisal regulations.
- Annual assistance with vendor management to ensure appraiser files are accurate, complete and current.
- Serves on the Bank’s Real Estate Valuation Committee
- Assumes additional responsibilities as requested.
Compliance and Control:
- Assists in ensuring that the Bank is in compliance with local, state and federal regulations.
- Research and understand new laws and regulations and how they affect appraisal dutie
General:
- Interacts harmoniously and effectively with others, focusing upon the attainment of bank goals and objectives through a commitment to teamwork.
- Conforms to acceptable punctuality/attendance standards as expressed in the Employee Handbook.
- Performs additional duties as requested.
Knowledge/Skills/Experience Requirements:
- College degree preferred. High school diploma with professional real estate or banking experience.
- Maine License Certified General Real Estate Appraiser is required.
- Minimum 15-years of commercial appraisal experience including land development & going concern assignments.
- Proficient with Argus or equivalent lease-by-lease software, word processing and spread sheet programs.
- Excellent writing skills are necessary to document conclusions and explain appraisal/valuation issues to both internal and external clients. Must have the ability to articulate with conviction, points of view and ideas that are in the best interest of the bank.
- Ability to work with appraisal management software/tools to ensure efficiency of process and reliability of value conclusion.
- Strong project management, analytical and research skills are required to manage multiple assignments simultaneously from inception through completion.
- The incumbent is responsible for pursuing continuing education requirements to ensure that their appraisal license is current.
- Must possess strong objective decision making ability to cope with ambiguities and inconsistencies and make logical, well informed, independent decisions in a limited timeframe
Physical Demands/Conditions Requirements:
- General office environment.
- Moderate lifting (to 35 lbs.) required. Moderate reaching, walking, sitting and standing required.
Equipment Used:
- General office equipment.
External and internal applications, as well as position incumbents who become disabled, must be able to perform the essential functions (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on an individual basis.
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