What are the responsibilities and job description for the Assistant Chief Commercial Appraiser position at Comerica Bank?
Assistant Chief Commercial Appraiser
The Assistant Chief Commercial Appraiser role will be responsible for securing bid proposals, engaging third-party appraisers, monitoring progress through appraisal completion/delivery, and completing risk-based appraisal reviews on commercial real estate appraisals for all Bank lending groups, including the Special Assets Group.
The role will be accountable for meeting established goals or Service Level Agreements (SLA's) throughout appraisal process. These goals include (but are not limited to) ensuring timely delivery of the report, ensuring third-party fees are reasonable (in relation to the transaction amount, geographic location and the complexity of the property), ensuring appraisal results are properly supported, documented and credible for bank use, completing scorecards on each vendor assigned, and that the appraisal reports are compliant with all regulatory requirements, including FIRREA, Interagency Appraisal and Evaluation Guidelines, USPAP and State Licensing Laws.
Please Note: In addition to the Texas and Michigan locations, this position can also be performed in Comerica's Footprint - Hybrid
Position Responsibilities:
- Processing of appraisal requests from various commercial lending groups and the Special Assets Group.
- Creating detailed Requests for Proposals (RFP's) to procure bids on each assignment from eligible vendors within established SLA's.
- Contractually engaging the selected vendor within established SLA's.
- Monitoring the progress through appraisal completion/delivery, while adequately communicating appraisal statuses to internal bank associates.
- Completing a risk-based appraisal review of the third-party's appraisal (within established SLA's) to ensure compliance with regulatory requirements, and to ensure the appraisal is based on an appropriate scope of work, employs the appropriate appraisal methodology, is adequately documented, provides reasonable support for appraisal conclusions and is deemed credible for bank use. This role includes submitting revision requests (as needed) to the vendor to obtain a credible, final appraisal report suitable for bank use.
- Communicating the status of each assignment with internal bank associates during the appraisal process.
- Completing scorecards for each assignment completed by a third-party vendor.
- Process and submit vendor invoices for approval in a timely manner.
- Assist the Chief Appraiser in establishing and maintaining a performance-based, top-tier vendor panel.
- Assist the Chief Appraiser on special projects, appraisal procedures, user guides, audits (internal and external), compliance testing and exams, as needed.
Position Qualifications:
- Bachelors Degree (or higher) from an accredited University
- 7 years of experience in commercial appraisal, with 5 years appraisal review experience, preferably at a Federally Regulated Institution
- Currently licensed (and in good standing) as a Certified General Real Estate Appraiser
- MAI Designation from the Appraisal Institute, or designation from another professional appraisal organization is considered a plus
8:00am - 5:00pm Monday - Friday
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.