Appraisal Review Specialist II

Appraisal Review Specialist II

The Appraisal Review Specialist II reviews, analyzes, and evaluates real estate appraisals and valuations for commercial loans produced by various appraisal vendors. Follows up on vendor valuations, reconciling differences in opinion or perspective. Researches and maintains knowledge of commercial real estate markets and market conditions within areas of responsibility. Reviews and evaluates appraisal companies and individual appraisers for approval to pursue Company appraisal bidding.

Depth & Scope:

• Seasoned specialist role requires greater experience in reviewing complex commercial appraisals including industrial, special purpose, multi-family and large subdivision/tract developments to ensure work is compliant with federal regulatory guidelines, Bank policy and Uniform Standards of Professional Appraisal Practice
• Reviews, analyzes, and evaluates real estate appraisals applying significant industry knowledge and experience to determine adequacy, appropriateness, and reasonableness
• Reviews lender prepared internal evaluations and provides guidance when necessary
• Researches market data and provides analysis to support a modification of an appraised value
• Explains valuation issues and provides insight on the commercial real estate trends
• Assists Company commercial loan officers on property inspections and assists with risk analysis when appropriate
• Solicits quotes from vendors for appraisal services based on the collateral valuation needs of the Company
• Negotiates fees and payment terms for appraisal services; writes clear and convincing appraisal reviews
• Keeps commercial loan officers informed of approved appraisal firms and individuals
• Develops and manages appraisal and valuation standards for the Company
• Participates in policy review and revision projects, applying specific knowledge of commercial real estate to process
• Follows up with vendors regarding issues of disagreement on valuations and appraisals; Determines methodologies used and basis for assumptions, comparing to industry standards and specific knowledge of market; May review properties in question through personal inspection to determine final valuation
• Resolves appraisal deficiencies with appraisal vendors
• Assists Appraisal Section Manager in coaching or training staff that are actively pursuing state appraisal certifications

Education & Experience:

• Bachelors degree required
• 5+ Years of related experience
• State Appraiser Certification required
• Some appraisal courses, preferably given by the Appraisal Institute
• Expert knowledge of commercial real estate appraising and valuation principles and practice
• In depth knowledge of legal and regulatory aspects of commercial real estate market
• Strong analytical and evaluative skills with the ability to combine numerous disparate pieces of data into a comprehensive structure to improve evaluative accuracy and effectiveness
• Excellent interpersonal communications and negotiations skills with the ability to explain interpretive and subjective decisions
• Strong prioritization and organizational skills including the ability to establish and change priorities based on sound business reasoning
• Demonstrates ability to resolve appraisal issues with lenders and managers in pressure situations
• Familiarity with FIRREA and USPAP
• Excellent verbal and written communication skills
• Ability to interact with, and provide excellent Customer service, to both external and internal Customers
• Income capitalization methods
• Residential subdivision experience
• Strong Customer focus

Desired Skills and Experience:

• Requires extensive experience reviewing complex commercial real estate appraisals, including office, mixed-use, industrial, multifamily, special-purpose properties, data centers, and portfolio assignments. Ensures compliance with Federal Regulatory Guidelines, TD Bank Appraisal Policy, Interagency Appraisal & Evaluation Guidelines, and the Uniform Standards of Professional Appraisal Practice (USPAP). Prepares internal evaluations using industry and market data and reviews vendor-prepared evaluations. Proficiency with ARGUS and RIMS preferred.
• Demonstrated expertise in the Metropolitan New York real estate market, including the Five Boroughs, Nassau and Suffolk Counties, and Northern New Jersey Counties.
• MAI designation or equivalent experience required. New York and New Jersey State Certification required. Banking experience preferred, with working knowledge of Lending, Credit, Portfolio Management, and Syndications.
• Provides market intelligence and Appraisal Policy guidance to Lending and Credit teams. Supports and participates in in-house Appraisal Training initiatives across the Bank.
• Ability to prioritize and organize assignments in a busy work environment.

Physical Requirements:

• Domestic Travel Occasional
• International Travel Never
• Performing sedentary work Continuous
• Performing multiple tasks Continuous
• Operating standard office equipment - Continuous
• Responding quickly to sounds Occasional
• Sitting Continuous
• Standing Occasional
• Walking Occasional
• Moving safely in confined spaces Occasional
• Lifting/Carrying (under 25 lbs.) Occasional
• Lifting/Carrying (over 25 lbs.) Never
• Squatting Occasional
• Bending Occasional
• Kneeling Never
• Crawling Never
• Climbing Never
• Reaching overhead Never
• Reaching forward Occasional
• Pushing Never
• Pulling Never
• Twisting Never
• Concentrating for long periods of time Continuous
• Applying common sense to deal with problems involving standardized situations Continuous
• Reading, writing and comprehending instructions Continuous
• Adding, subtracting, multiplying and dividing Continuous