Real Estate Appraiser 2LOD Lead Analyst

Citi • Irving, TX

1d • Onsite

About The Position

The Real Estate Appraiser role focuses on executing real estate appraisals and reviewing external appraisals. This involves leading licensed teams in mortgage appraisal reviews and setting quality benchmarks with vendors. By ensuring accurate and fair real estate valuations, this role contributes significantly to prudent lending practices. Its existence is vital for the company's risk management, informed mortgage decision-making, and overall financial sustainability.

Requirements

• 6-10+ years of experience
• Certification or license issued by a government agency entitling the appraiser to value a variety of real property or a valuation credential issued by a recognized professional association (if no governmental licensing is available).
• Bachelor’s degree in real estate, finance, business administration, or a related field.
• Familiarity with valuing different types of income-producing real estate and some special purpose property types.
• Comfort working independently to assess the acceptability of appraisals.
• Basic understanding of local and regional evaluation regulations and standards.
• Ability to quickly familiarize oneself with Citi's appraisal/valuation policy documents (for new employees).
• Strong written and verbal communication skills.
• Knowledge of applicable industry regulations and standards (i.e., USPAP, FIRREA, IVS, Red Book).
• Some experience in analyzing and identifying risks on real estate collateral or owned real estate.
• Experience in dealing with external valuation firms.
• Solid understanding of real estate market trends and data analysis.
• Contacts with appraisers, including those with expertise in special purpose properties and iconic properties.
• Demonstrates leadership abilities.
• Possesses analytical and quantitative skills.
• High level of attention to detail.
• Basic commercial real estate knowledge for local markets covered.
• Familiarity with software tools like MS Word, Excel, and open to learning tools like Argus, Rockport VAL, and RECAM within CitiRisk Collateral.
• Ability to make decisions and communicate effectively within the organization.
• Exhibits diplomacy skills and the capability to stay calm during confrontational engagements.
• Ability to adapt quickly to changing situations in line with Citi's diverse product range, client types, transaction types, and clients' real estate plans.
• Minimum of 10+ years of appraisal experience with at least 3 years in a lending institution preferred.
• Must be a state Certified General Appraiser.
• Have outstanding breadth and depth of commercial appraisal expertise that includes all major property types (office, retail, industrial, multifamily) and special purpose properties (self storage, hotels, student housing, etc.).
• Must have a strong sense of the characteristics affecting value.
• Highly productive and efficient as a reviewer.
• Work autonomously and require little direction for single properties as large as $100MM+ in value.
• Would be considered Subject Matter Expert for commercial appraisal.
• Proficient computer skills for MS Office.
• Outstanding proficiency in Argus and Rockport VAL DCF software and MS Excel.
• Must have a comprehensive understanding of USPAP.
• Must have a good understanding of FIRREA and all other subsequent Regulatory Policies concerning appraisals.
• Outstanding analytical skills.
• Strong interpersonal skills.
• Work well under pressure and multi-task.
• Outstanding organization and management skills.
• Must have strong verbal and written communication skills.
• Capable of being effective in decision making and outstanding problem-solving skills.
• Sustain good relationships with internal clients and vendors.

Nice To Haves

• Credential from a known real estate appraisal professional association such as the Appraisal Institute, Royal Institute of Chartered Surveyors, etc., beneficial but not mandatory.
• Master's degree preferred
• May have advanced degrees.
• Must have completed and passed all Appraisal Institute classes necessary for the MAl designation, or equivalent education.

Responsibilities

• Report directly to the Office of the Chief Appraiser
• Conduct independent reviews of real estate appraisal processes and furnish recommendations for enhancing compliance and risk management.
• Enhance and maintain risk and control standards for real estate valuation, ensuring alignment with regulatory requirements and industry best practices
• Monitor and report on the effectiveness of risk mitigation strategies and valuation controls.
• Participate in reviews of residential and commercial valuations for Citi's use.
• Support in establishing and maintaining partnerships with high-level external valuers and valuation firms
• Participate in critical and administrative reviews of residential and commercial valuations to determine their suitability for Citi's use
• Contribute to the communication of appraisal review results, ensuring they are properly recorded in the transaction file (i.e. loan file)
• Maintain that all valuation processes and reports comply with Citigroup's valuation standards and regulatory requirements
• Ensure all critically reviewed appraisals provide reasonable and appropriate value conclusions.
• Perform critical reviews of externally prepared commercial appraisals to ensure that the value conclusions are credible and that the reports are in compliance with all necessary requirements.
• Responsible for managing the review process on single assets as well as portfolios, which can include leading a team of review appraisers and coordinating with participating financial institutions.
• Contract with vendors; manage vendors to on-time delivery and quality product; and maintain the timely status of each assignment on a common job tracking system.
• On occasion may lead an ad hoc team for valuation due diligence or a special project; prepare market studies; provide market intelligence to the lenders on a specific deal; prepare internal appraisals; perform sensitivity analyses for property cash flow projections; and evaluate the feasibility of a complex investment.
• Resolve any issues that are not compliant with Citibank policies or conclusions that are not reasonable.
• Advise risk managers in addressing complex real estate issues.
• Objectively provide risk managers with a balanced view of the risk associated with a given property.
• Work with a wide variety of property types across the US ranging from single assets to large portfolios that include several hundred properties.

Benefits

• medical, dental & vision coverage
• 401(k)
• life, accident, and disability insurance
• wellness programs
• paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Number of Employees: 5,001-10,000 employees