POSITION OVERVIEW

The Appraisal Review Officer is responsible for ordering and reviewing commercial and residential real estate appraisals and evaluations and developing and maintaining corresponding procedures. 

POSITION RESPONSIBILITIES

• Orders appraisals and evaluations of commercial and residential real estate for lending purposes
• Ensures that appraisal reports and evaluations are prepared within generally accepted appraisal requirements
• Performs technical and administrative reviews of commercial and residential real estate appraisals for compliance with regulations and the Bank’s Loan Policy 
• Responsible for developing and performing on-going maintenance of the Bank’s appraisal policies, procedures, and standards

• Responsible for preparation, coordination, and follow-up of the regulatory examinations by federal and state regulators and the credit review by third-party auditors
• Acts as a liaison between lender and the assigned appraiser in all aspects of obtaining appraisal reports for loan origination or monitoring purposes

• Maintains up-to-date knowledge of real estate value trends and market trends to ensure valuations conform to current market conditions
• Responsible for training loan production staff and other related department staffs on the latest appraisal regulations and policies
• Develops and maintain internal forms used in appraisal related activities
• Maintains and performs quality control of the Bank’s approved appraiser list
• Provides periodic reports to the CCO on the performance of the approved appraisers
• Responsible for collecting invoices and payments
• Responsible for Appraisal Review Log
• Responsible for maintenance of Collateral 360 (appraisal order system) or similar platform
• Performs duties specific to the position and other duties as assigned

SKILLS / QUALIFICATIONS

• Demonstrates working knowledge of regulations affecting the appraisal industry, including FIRREA and USPAP, and the Interagency Guidelines
• Experience or working knowledge of databases like Costar, MLS, and Loopnet.com preferred.

• Excellent interpersonal skills due to heavy communication with appraisers, lending staffs, and senior management
• Strong ability to multi-task and high attention to detail

EDUCATION / EXPERIENCE

• Bachelor’s degree and a Certified General Real Estate Appraiser License
• A minimum of 5 years of commercial review experience as a licensed bank reviewer is preferred