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.
Essential Responsibilities:
- 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
Minimum Required Skills & Competencies:
- 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.
Desired Skills & Competencies:
- 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 and the 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.
Physical Requirements:
- Express or exchange ideas by means of the spoken word via email and verbally.
- Exert up to 10 pounds of force occasionally, use your arms and legs, and sit most of the time.
- Have close visual acuity to perform activities such as analyzing data, viewing a computer terminal, reading, and preparing documentation.
- Not substantially exposed to adverse environmental conditions.
- The physical demands described here are representative of those that must be met by an employee to successfully perform the essential responsibilities of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential responsibilities.
