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This position supports regulatory compliance within the Bank's real estate appraisal operations at a high level of complexity and ability. Determines the net realizable value of real estate assets, adjusted for the costs associated with the sale. Reviews appraisals to determine the acceptability of methodology, technique, and credibility. Monitors property evaluations to ensure that appraised values are properly supported and reasonable. Ensures compliance with all applicable regulations as well as Bank policies and procedures. Assists real estate-related projects and appraiser audits to mitigate risk. Serves as an appraisal resource to field associates through expert knowledge of real estate, department policies, and regulatory requirements. May provide leadership to less experienced associates in the work group.
Responsibilities
- Appraisal Review - Reviews commercial real estate appraisals and property evaluations prepared by independent appraisers to determine the overall quality and reasonableness of appraised values. Ensures compliance with all regulatory requirements as well as internal policies, standards, and procedures. Monitors fee appraiser responsiveness and performance through ongoing audits. Works closely with underwriters, management, and compliance associates throughout appraisal reviews.
- Business Support - Estimates net realizable value of real estate securing loans in default. Makes property inspections, facilitates foreclosure or judgement filing decisions, and performs other tasks that facilitate daily appraisal operations. Resolves issues and assists senior or executive management with projects as necessary. Trains associates within the work group.
- Appraisal Resource - Serves as an expert resource on real estate appraisal policies, general questions, and methods of compliance. Develops and implements policy changes to comply with regulatory requirements. Educates on subjects related to real estate appraisal and review, developing lesson plans and other educational materials. Provides guidance to Bank committees and project teams.
- Quality Assurance - Conducts quality assurance reviews of appraisal reports in compliance with the secondary market, regulations, and Bank guidelines. Identifies discrepancies or missing information, and reports to the appropriate party.
The base pay for this position is relative to your experience but the range is generally $87,783 to $152,157 per year. This position is eligible for variable compensation, which may be in the form of incentive, bonus, or commission pay. First Citizens offers a competitive, comprehensive benefits program which you can review here: https://jobs.firstcitizens.com/benefits.
Qualifications
- Bachelor's Degree and 8 years of experience in Real Estate Commercial Property appraising OR High School Diploma or GED and 12 years of experience in Real Estate Commercial Property appraising
- Preferred Area of Experience: Appraisal review in a financial institution
- License or Certification Type:
- State Certified General Real Estate Appraiser, having met all specialized education, testing, and appraisal experience requirements as set forth by The Appraiser Qualifications Board of The Appraisal Foundation and the State(s) in which certified Required
- Skill(s): Knowledge of Real Estate Law and the appraisal process, to include knowledge of current banking laws and regulations
- #LI-JL1
First Citizens Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race (including traits historically associated with race, such as hair texture and protective hairstyles), color, religion, national origin, sex, age, disability, protected veteran status, sexual orientation, gender identity, genetic information, military membership, application, or obligation, or any other legally protected status.