Senior Commercial Review Appraiser II-Remote in CAJob ID RISK-14261 City Los Angeles State California Additional Location: Remote - Los Angeles , California Exempt/Non Exempt Exempt Shift Day Work Schedule M-F, 8-5
SENIOR COMMERCIAL REVIEW APPRAISER II
WHAT IS THE OPPORTUNITY?
The Commercial Real Estate Review Appraiser is responsible for the engagement of third-party vendors and review of appraisal reports for the Bank's real estate secured loans and related supporting functions. This position works to minimize risk by conducting valuation research, analysis and providing guidance and recommendations to the lending and credit risk staff. The Commercial Real Estate Review Appraiser will be evaluating a variety of property types, including but not limited to, industrial, multi-family, office, retail shopping centers, special use, etc.
Risk Management Division
This is a great opportunity to grow your career with a stable and expanding organization as a member of City National's Risk Management team. The focus is on ensuring business activities remain safe, compliant and well-positioned for future opportunity and sustainable growth.
WHAT WILL YOU DO?
- Primary responsibility is to manage the full process of a valuation request from the procurement of the appraisal report to the completion of the review report.
- Develops scope of work for soliciting appraisals bids in line with internal appraisal selection process and provides lending team with recommendations.
- Maintain effective communication with engaged vendors and manage issues/field questions to maintain the integrity of the appraisal assignment.
- Reviews the quality and accuracy of appraisal reports to ensure compliance with federal and state regulations, including FIRREA, Interagency Appraisal and Evaluation Guidelines, Uniform Standards of Professional Appraisal Practice (USPAP) and internal Bank policies, as well as review the reasonableness of the value conclusion (if warranted, develop an internal value conclusion).
- Coordinates the resolution for any appraisal deficiencies with third party vendors and request revisions, as well as being a liaison between lending team and appraiser regarding any appraisal disputes.
- Monitors regulatory standards and industry guidelines for any changes that impact the real estate valuation process; assists with updating related internal policies, procedural manuals, and research libraries.
- Familiarity with trends in local markets, being knowledgeable of economic and industry changes, and applying that knowledge to ascertain the accuracy and quality of appraisal reports under review.
- May complete internal real estate market evaluations on commercial or residential properties where an appraisal report is not required.
- Provide support to the department on additional responsibilities as directed.
WHAT DO YOU NEED TO SUCCEED
- Bachelor's Degree In real estate, accounting, finance, business, economics, or related field required
- Minimum 8 years of experience appraising and/or reviewing appraisals of various complex commercial properties for a financial institution required. Exposure to large Class A investment grade properties nationwide, Class A office, retail, industrial; new construction, ground lease, tax abatement/tax credit scenarios and other unique property types and challenging income characteristics a necessity.
- Minimum 5 years of experience in real estate, banking or financial industry.
- Certified General Real Estate Appraiser
Skills and Knowledge
- MAI, AI-GRS Designations is a plus
- Argus Certification is a plus
- Strong written and oral communication skills with an ability to effectively communicate between the lending team and third-party vendors.
- Proficiency with Microsoft Word, Excel and cash flow software applications such as Argus; familiarity with appraisal order management software.
- Must have a clear understanding and knowledge of USPAP and federal appraisal regulatory requirements.
- Strong analytical and research skills; developed technical writing ability.
- Proven ability to be self-motivated and manage multiple projects simultaneously in order to meet deadlines and quality standards.
- Strong problem resolution and analytical skill; ability to make objective decisions based on analysis of data within restricted time frames.
- Familiarity with environmental assessment reports is a plus.
- Practical application and understanding of Discounted Cash Flows and modeling ability.
*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.
ABOUT CITY NATIONAL
We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish.City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies.
City National Bank requires all colleagues to be fully vaccinated against COVID-19 to work on-site at any of our locations.
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