Job Description

AVP/Appraiser

CHICOPEE, MA
$83,658.59 - $125,487.89 Annually
Position: AVP/Appraiser

Department: Credit Administration
Job Status: Full-Time
FLSA Status: Exempt
Grade: 13
Reports to: VP/Commercial Credit Manager
Amount of Travel Required: Some Travel Required
Positions Supervised: None

POSITION SUMMARY

The AVP/Appraiser is responsible for ordering and reviewing independent appraisals of varying complexities for accuracy, reasonableness and to ensure compliance with the Uniform Standards of Professional Appraisal Practice (USPAP), FIRREA and WB Loan Policy. Also responsible for preparing internal revaluations of commercial properties already in the Bank's portfolio, and for valuing collateral properties within policy-established scope. Responsible for coordinating environmental reviews of collateral properties in accordance with WB Loan Policy.

ESSENTIAL FUNCTIONS

Maintain and recommend updates to list of approved appraisers.
Obtain quotes for and order independent appraisals for commercial real estate loans.
Prepare technical and compliance reviews of all independent commercial real estate appraisals and ensuring the reports conform to professional standards and bank policy.
Responsible for the appropriate documentation for the Bank's files regarding each appraisal reviewed; determine if appraisal adequately addresses value, size, market conditions, physical condition and cap rate determination.
Knowledge of the local real estate market including office, hotel, industrial, multi-family, retail conditions.
Conduct proactive comparable research and verification through sources such as REIS and public records.
Evaluate land and neighborhoods where properties are situated, considering locations and trends or impending changes that could influence future values.
Interact with independent appraisers to inform them of concerns regarding assumptions in their reports.
Interact with commercial lenders, credit analysts, loan assistants and other personnel to address and resolve appraisal or valuation concerns and/or ensure all concerns are resolved prior to loan closing.
Coordinate with lending and credit staff to develop a full understanding of the transaction.
Assist in identifying situations where internal revaluations are necessary and conduct the revaluation based on market conditions and perform internal revaluations.
Develop values and prepare written appraisals for loans within policy-established scope.
Coordinate with third party environmental consultants and order environmental reviews in accordance with WB Loan Policy.
Review and conclude on third party environmental reports.
Recommend changes to WB policies related to appraisals as needed.
Coordinate with Senior Loan Review Analyst to conduct cash flow analyses and general review of loans as needed.

POSITION QUALIFICATIONS

Competencies

Analytical Skills
Communication
Decision Making/Judgment
Productivity
Teamwork & Cooperation
Quality

Education/Experience/Skills

Bachelors of Science Degree in Business or Real Estate and relevant work experience preferred.
Minimum of ten years relevant work experience conducting commercial real estate appraisals.
Self-motivated and detail-oriented with the ability to prioritize work and meet deadlines.
Proficient in Microsoft Word and Excel.
Strong personal organization skills.
Excellent written and verbal communication skills.
Strong critical thinking skills.