Head of Appraisal Review

Old Second National Bank•Downers Grove, IL

7h•$110,000 - $160,000•Hybrid

About The Position

The Head of Appraisal Review leads the administration, oversight, and ongoing effectiveness of the Bank's real estate valuation and environmental due diligence program. The role oversees appraisal and environmental report ordering and review processes, vendor management, quality control, policy adherence, staff development, and appraisal independence while supporting prudent credit risk management. The position ensures compliance with Interagency Appraisal and Evaluation Guidelines, FIRREA, USPAP, and applicable regulatory requirements for real estate collateral valuations. The role serves as a subject matter expert in real estate valuation and environmental due diligence. The Head oversees and, as needed, performs reviews of valuations for a broad range of residential and commercial real estate, including single-family residential, industrial, multifamily, office, retail, shopping center, healthcare, and special-use properties. The role requires independent judgment and timely decisions while balancing regulatory requirements, credit risk considerations, and service expectations in a fast-paced environment. This is a hybrid position. With management approval, the incumbent may work a combination of remote and onsite work; actual schedule requirements may vary based on business needs. Base pay is $110,000–$160,000. The position is eligible to participate in the Annual Officer Incentive plan, with a target bonus based on base salary and various performance components.

Requirements

Bachelor’s degree in business, finance, real estate, or a related discipline, or equivalent demonstrated work experience.
Five or more years of commercial real estate valuation experience.
Experience reviewing environmental assessment and due diligence reports.
Active Certified General Real Estate Appraiser credential in good standing.
Strong knowledge of regulatory appraisal requirements.

Nice To Haves

Prior experience leading a team.
MAI Designation from the Appraisal Institute.
Experience with appraisal management software, such as C360 or RIMS.

Responsibilities

Lead daily Appraisal Department operations, including workload allocation, workflow management, service delivery, quality control, and resolution of escalated matters.
Direct, coach, and develop department staff by setting responsibilities, providing technical guidance, assessing performance, and supporting professional development.
Establish department goals, productivity standards, and service-level expectations.
Review residential and commercial real estate appraisals to assess the credibility of analyses, methods, assumptions, and value conclusions and their compliance with policies, industry standards, and regulatory requirements.
Complete internal evaluations and validations in compliance with internal policies and regulatory requirements.
Review environmental reports and prepare internal reviews.
Work with the credit department and lines of business to ensure appraisals are accurate, within approved scope and timelines, and based on sound appraisal methodology.
Identify and select qualified vendors and monitor their performance, quality, and turnaround times.
Communicate with engaged vendors and manage issues and field questions to preserve the integrity of appraisal and environmental assignments.
Assist with criticized asset reviews and workout strategies.
Monitor real estate market trends within the Bank’s footprint and advise management about emerging property valuation risks.
Recommend updates to appraisal, evaluation, and environmental policies and procedures in response to regulatory changes, audit or examination findings, industry developments, and identified program risks.
Complete special projects as assigned.
Plan, assign, and direct employees’ work; evaluate performance; reward and discipline employees; address complaints; coach performance; resolve issues; and interview, hire, and train staff.