Appraisal Department Manager

Heritage Bank • Lynnwood, WA

4d • $141,729 - $212,594 • Onsite

About The Position

Heritage Bank has an exciting opportunity to join our organization! We are seeking an Appraisal Department Manager to lead our Appraisal team. The appraisal department manager is responsible for providing leadership, management and direction to the appraisal department and oversees the Bank's real estate collateral valuation process, ensuring risk appropriate collateral valuation standards. Additionally, this position maintains detailed knowledge of all banking regulations for real estate valuations, and will ensure compliance with Bank policies, Federal and State regulations, including FIRREA and USPAP, and reasonableness of value conclusions. Ensures the Bank's real estate valuation policies and procedures are maintained and current. This position requires the exercise of personal judgment and decision-making independent of undue influence by lenders or borrowers and at times without clear precedent. Geographical location for this position is Everett, Lynnwood, or Tacoma, Washington. Depending on experience and qualifications, other locations within Heritage Bank’s footprint (WA, OR, ID) may be considered. This position is fully on-site in either Washington, Idaho, or Oregon. Base Salary Range: $141,729.00 - $177,167.00 - $212,594.00 annual The Role at a Glance: Ensures timely engagement and review of all residential and commercial real estate appraisals in compliance with banking regulations. Recommends, develops and implements policy and procedures to assure regulatory compliance for real estate appraisals and evaluations. Guides, motivates and trains appraisal department staff relative to individual responsibilities, bank policy and banking regulations. Organizes training as necessary for lenders, lending managers and credit risk managers to assure effective knowledge of the bank’s appraisal policy and bank regulations. Ensures lending, risk management, and bank management's compliance with bank policy and banking regulations. Identifies, assesses, recommends, engages, implements and monitors third-party resources as needed for appraisal process management, appraisal engagement and appraisal review. Oversees the maintenance of the bank’s approved appraiser list / database, and monitors appraiser and evaluator performance. Makes recommendations to management, as needed. Qualify external third party appraisers for approved appraiser list. Conduct and lead the review team to perform thorough analyses of commercial and residential appraisal reports and evaluations for accuracy, reasonable assumptions, supportable conclusions, appropriate technical analysis, current market conditions, and ensures compliance with policies and all applicable regulatory requirements. Act as a resource and subject matter expert for appraisal-related underwriting questions. Demonstrates leadership and resourcefulness in communications and interactions with the appraisal staff, lenders, other bank associates, auditors and third-party vendors. Responsible for adhering to the department’s budget by monitoring budget performance on an ongoing basis through budget variance analysis. May be responsible for developing the department’s budget on an annual basis. Regularly attends appraisal industry-related seminars and roundtables. Provides direct reports with proper tools and authority to execute their assigned functions and develops skills of staff through goal-setting, coaching, problem resolution, delegation, training, counseling, and performance management.

Requirements

• H.S. Diploma or equivalent required.
• Bachelor's Degree in Finance, Economics, Business Administration, Real Estate or relevant course of study required.
• 5+ years recent experience in commercial and residential real estate appraisal in both traditional and/or investment bank environments, which includes a minimum of 3 - 5 years in a leadership / appraisal management role, and working knowledge and experience with the residential appraisal and review process required.
• State Certified - General Real Estate Appraiser designation within the Bank’s footprint required.
• Equivalent combination of education, experience and advanced income property appraisal coursework may be considered.
• Demonstrated ability to deliver exceptional customer service and maintain client relationships, both internally and externally.
• Highly developed interpersonal and written/verbal communication skills demonstrating the ability to communicate effectively, clearly and persuasively in a variety of settings, formats, and audiences; with the ability to read, write, speak, and understand English well.
• Strategic approach to decision-making with proven ability to analyze information, develop strategies and deliver results.
• Strong management / leadership skills are required to motivate and develop a high performance work team and monitor workflow and schedules in multi-site / remote locations; employee development, performance management, training, and employee counseling skills are required.
• Strong working knowledge of lending practices, policies, procedures, disclosures and terminology related to banking laws, regulatory requirements, and legal documents.
• Strong technical and analytical reasoning skills to synthesize information accurately and effectively to understand and interpret regulatory requirements and appropriately apply principles, procedures, requirements, regulations, and policies to the position.
• Strong planning, organizational, time management and follow up skills, demonstrating a strong sense of urgency and ability to execute quickly, timely and efficiently, ensuring that priorities are set and commitments and deadlines are met, with minimal direction and supervision.
• Thorough understanding of complex real estate transactions and associated risks.
• Ability to review commercial and residential real estate collateral to identify banking and USPAP violations, as well as appraiser’s errors in methodology or logic.
• Thorough understanding and application of principles, procedures, requirements, regulations, and policies, related to assigned areas of oversight, in a multi- state environment,
• Unquestionable integrity in handling sensitive and confidential information required.
• Proficient use and understanding of MS Office products (Word, Excel, Outlook), with the ability to learn and adapt to new technologies quickly.
• Working knowledge of appraisal systems – required.

Nice To Haves

• Master's degree preferred.
• Financial services industry experience in a multi-state environment and experience as an in-house review appraiser within the commercial banking industry preferred.
• Appraisal designation preferred.

Responsibilities

• Ensures timely engagement and review of all residential and commercial real estate appraisals in compliance with banking regulations.
• Recommends, develops and implements policy and procedures to assure regulatory compliance for real estate appraisals and evaluations.
• Guides, motivates and trains appraisal department staff relative to individual responsibilities, bank policy and banking regulations.
• Organizes training as necessary for lenders, lending managers and credit risk managers to assure effective knowledge of the bank’s appraisal policy and bank regulations.
• Ensures lending, risk management, and bank management's compliance with bank policy and banking regulations.
• Identifies, assesses, recommends, engages, implements and monitors third-party resources as needed for appraisal process management, appraisal engagement and appraisal review.
• Oversees the maintenance of the bank’s approved appraiser list / database, and monitors appraiser and evaluator performance.
• Makes recommendations to management, as needed.
• Qualify external third party appraisers for approved appraiser list.
• Conduct and lead the review team to perform thorough analyses of commercial and residential appraisal reports and evaluations for accuracy, reasonable assumptions, supportable conclusions, appropriate technical analysis, current market conditions, and ensures compliance with policies and all applicable regulatory requirements.
• Act as a resource and subject matter expert for appraisal-related underwriting questions.
• Demonstrates leadership and resourcefulness in communications and interactions with the appraisal staff, lenders, other bank associates, auditors and third-party vendors.
• Responsible for adhering to the department’s budget by monitoring budget performance on an ongoing basis through budget variance analysis.
• May be responsible for developing the department’s budget on an annual basis.
• Regularly attends appraisal industry-related seminars and roundtables.
• Provides direct reports with proper tools and authority to execute their assigned functions and develops skills of staff through goal-setting, coaching, problem resolution, delegation, training, counseling, and performance management.

Benefits

• As part of our team, you’ll enjoy a total rewards package, which includes base salary based on the role, experience, and skill set, along with an exceptional benefits package (medical, dental, vision, life insurance, 401(k), community volunteer time), and generous time off policy.
• Full-time team members receive a minimum of 10 paid vacation days annually and eight hours of paid sick leave per month, while also enjoying 11 paid holidays each calendar year, and an annual float day. pro-rated from start date and/or hours worked.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Number of Employees: 251-500 employees