Commercial Valuation Spec

Old National Bank•Deerfield, IL

4d•$60,000 - $121,300

About The Position

We are currently seeking a Commercial Appraisal Review Officer that will review commercial real estate appraisals and produce restricted appraisals (internal evaluations). The appraisal review process will be performed in conformance with Standards 3 and 4 of the Uniform Standards of Professional Appraisal Practice (USPAP). Restricted appraisal reports will conform with Standards 1 and 2 of USPAP. This position requires being knowledgeable of the Interagency Appraisal and Evaluation Guidelines (IAEG), USPAP and ONB Guidelines and Procedures. Further, it requires general real estate industry knowledge across various commercial property classes. A Commercial Appraisal Review Officer is expected to be self-directed, goal oriented (meeting/exceeding production/volume), capable of making quick, independent (limited oversight) decisions with a focus on meeting client expectations in a fast-paced work environment.

Requirements

Active Certified General Appraisal License
Five-years of overall experience in commercial/residential real estate appraisal work
Bachelor’s degree in business, finance or related discipline, or equivalent demonstrated work experience
Communication – effectively shares information and ideas with individuals and groups; displays self-awareness and self-management; tailors the delivery to the audience, and selects suitable delivery method(s); responds to internal and external clients, vendors, and others in a timely manner; provides clear and concise real estate reports
Technical Knowledge – possesses the required technical knowledge (real estate knowledge and associated developments, trends, and best practices as well as understanding property rights and their impact on the valuation process ) and industry standards to perform the role effectively; continuous learning to adopt new trends or expertise; capable and proficient in IAEG, USPAP and ONB Guidelines and Procedures
Problem Solving/Decision Making – independently and with limited oversight seeks to identify and recognize issues, problems, or opportunities and determines whether action is needed; identifies and gathers relevant information from various sources and incorporates input from multiple sources (e.g., trends, lines of business, subject matter experts, data, policies, procedures, etc.) to ensure effective action and shared ownership anticipating consequences of decisions/actions and proactively working through potential concerns/issues to identify contingency plans; decisions are sound based on what was known at the time and are based on a blend of analysis, wisdom, experience, and judgement creating sound defensible real estate reports, reviews and recommendations
Drive and Execution – committed to achieving and exceeding established goals (sets high personal performance standards), overcoming obstacles (focused on ways to succeed), and continuously learning to improve performance to ensure job effectiveness – expectations, performance targets, project deliverables, etc.; responsive and accepts reasonable requests to do task that goes beyond the normal scope of the job
Client Leadership – puts the client at the forefront of everything; continually seeks first-hand client information and perspective and uses this insight to shape one's own behaviors and actions to delight and engage internal and external clients; creates, builds, and maintains long-term relationships with clients

Nice To Haves

Master’s degree in real estate related discipline or professional real estate designation preferred

Responsibilities

Review Commercial Appraisal Reports: Complete appraisal reviews in compliance with USPAP Standards 3 and 4 while recognizing appropriate appraisal methodology and techniques
Opine on the completeness, accuracy, adequacy, relevance and reasonableness of appraisals
Understand industry nuances between property types and knowledge across asset classes
Complete Internal Evaluations (Restricted Appraisal Reports): Complete restricted appraisal reports in compliance with USPAP Standards 1 and 2.
Understand various property types and classes
Review and analyze all current documentation relevant to the appraisal process including leases, operating history, contracts, easements, surveys, etc.
Recognize and apply appropriate appraisal methodology and techniques
Provide Real Estate Consultation and Manage Internal Client Relationships: Consult with internal clients on real estate appraisal methodology and techniques
Provide guidance related to the IAEGs, USPAP and ONB Guidelines and Procedures
Operate independently and solve problems using independent judgement/discretion with limited oversight
Provide clear and concise communications to vendors and internal clients
Continue Education and Maintain Required Licensure: Maintain appropriate real estate licensure within ONB’s traditional footprint
Enhance knowledge through continuing education; particularly, on relevant and emerging real estate topics
Pursue educational opportunities as part of a professional development plan