Job Posting for Appraisal Review Officer at Commonwealth Business B
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
Complies fully with all Bank policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Anti-Money Laundering, Code of Conduct, and etc.) and complete all required training
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
Salary.com Estimation for Appraisal Review Officer in Los Angeles, CA
$74,313 to $99,689
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