Commercial Appraisal Reviewer

Towne Family of Companies•Raleigh, NC

2d•Onsite

About The Position

This position is responsible for ordering, reviewing commercial real estate appraisals and evaluations within Appraisal Services for TowneBank. The position will assist senior personnel with all aspects of appraisal functions. Competently understand a moderately high level of complexity of real estate taken as collateral by the Bank. Must be able to advise Bank personnel on matters of type of appraisal, types of values needed, and required valuation scenarios. Must be able to communicate requirements to external fee appraisers and know which service providers are most appropriate for a particular assignment. Perform technical and administrative reviews of commercial real estate appraisals for compliance with law and policy, and for reasonableness and quality. If necessary, modify values in appraisals, when warranted and support the decision to do so according to the Interagency Appraisal & Evaluation Guidelines, USPAP and FIRREA requirements. Resolve valuation differences/discrepancies between Appraisers and Loan Production staff while maintaining Appraiser Independence. Manage the appraisal workflow and prepare Reviews on complex commercial properties, Evaluations including determination of material changes in both the market and physical status of the properties used for collateral by the bank. Consult with Bank personnel on all matters of real estate valuation, market data, and/or environmental risk assessment. Maintain knowledge of real estate value trends and property developments to ensure valuations conform to current market conditions. Assist Lenders and Loan operations throughout the bank’s footprint and act as a resource for real estate valuation concerns/questions. Assist the Director of Appraisal Services in maintaining the Appraisal Policy and related documents. Assist the Director of Appraisal Services with maintenance and quality control of the Bank’s Approved Appraiser list. Maintain effective relationships with external fee appraisers and other vendors. Adhere to all applicable laws and regulations governing bank operations, including compliance with TowneBank policies, laws, and regulations applicable to the role. Adheres to applicable federal laws, rules, and regulations including those related to Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA) Other duties as assigned.

Requirements

Bachelor’s degree in a related discipline or an equivalent combination of education and work-related experience preferred.
One to five years of experience, with outside fee and review experience preferred.
Licensed by the State of North Carolina or Virginia as a Certified General Real Estate Appraiser.
Demonstrated working knowledge of regulations affecting the appraisal industry to include the Interagency Appraisal & Evaluation Guidelines, FIRREA, USPAP and the Interagency Guidelines.
Familiar with C360 software.
Demonstrated working knowledge of the practical aspects of real estate appraisal.
Previous experience or working knowledge of databases like Costar, MLS, Loopnet.com preferred.
Proficient computer skills relevant to Microsoft Office Suite.
Ability to prepare discounted cash flow analysis with Argus and or Excel.
Excellent oral and written communication skills.
Superior analytical and research skill.
Solid organizational skills especially ability to meet project deadlines with a focus on details.
Ability to successfully multi-task while working independently or within a group environment.
Ability to work in a deadline driven environment.
Strong organization and project management skills.
Ability to work independently, with minimum supervision, as well as within a team environment.

Nice To Haves

Outside fee and review experience preferred.
Familiar with C360 software.
Previous experience or working knowledge of databases like Costar, MLS, Loopnet.com preferred.

Responsibilities

Order and review commercial real estate appraisals and evaluations.
Advise Bank personnel on appraisal matters, including types of appraisals, values needed, and valuation scenarios.
Communicate requirements to external fee appraisers and select appropriate service providers.
Perform technical and administrative reviews of commercial real estate appraisals for compliance, reasonableness, and quality.
Modify appraisal values when warranted and support decisions according to relevant guidelines and regulations.
Resolve valuation differences between Appraisers and Loan Production staff.
Manage appraisal workflow and prepare Reviews on complex commercial properties and Evaluations.
Determine material changes in market and physical status of properties used as collateral.
Consult with Bank personnel on real estate valuation, market data, and environmental risk assessment.
Maintain knowledge of real estate value trends and property developments.
Assist Lenders and Loan operations with real estate valuation concerns.
Assist the Director of Appraisal Services in maintaining the Appraisal Policy and related documents.
Assist the Director of Appraisal Services with maintenance and quality control of the Bank’s Approved Appraiser list.
Maintain effective relationships with external fee appraisers and other vendors.
Adhere to all applicable laws and regulations governing bank operations, including TowneBank policies.
Adhere to applicable federal laws, rules, and regulations, including AML and BSA.
Perform other duties as assigned.