Cape Cod 5 has an exciting opportunity to join the team as a Director of Real Estate Review. This position manages the appraisal function of commercial and residential properties. Has direct responsibility and control for insuring that appropriate CRE real estate valuations are obtained and reviewed in compliance with Federal Banking Regulations, Supplemental Advisory opinions and Guidelines and Commercial Lending Policies, and USPAP.
Bachelor’s Degree in Business Management, Accounting, Finance, Economics, or other business field.
KNOWLEDGE, SKILLS & ABILITIES:
Minimum 5 years as a licensed Certified General Real Estate Appraiser preparing property valuations.
Minimum 5 years’ experience performing compliance and technical appraisal reviews.
Minimum 2 years management/supervisory experience.
Excellent written and verbal communication, and analytical skills.
Proficient with Microsoft Word and Excel.
Prior experience and knowledge with loan work-out and asset classification situations.
Ability to work in a fast-paced environment, meet deadlines while maintaining attention to detail.
Must have cyber security awareness to protect the digital environment, the Bank, and customers.
Communication – written and oral
Manages the appraisal function of commercial and residential properties. Has direct responsibility and control for insuring that appropriate CRE real estate valuations are obtained and reviewed in compliance with Federal Banking Regulations, Supplemental Advisory opinions and Guidelines and Commercial Lending Policies, and USPAP. Responsible for ordering external appraisal and evaluations, then reviewing and providing written appraisal and evaluation review reports to ensure that the methodology, market data, and analyses are reasonable, credible and adequately supported. Responsibilities include communicating with lenders and their staff and managing 3rd party CRE appraisers and evaluators for all (standard or complex) appraisal problems. Along with these fundamental responsibilities the Director ensures appraisal documentation, licensing and appraiser certification are in compliance with all regulations, bank policies, and USPAP.
ESSENTIAL JOB FUNCTIONS & RESPONSIBILITIES:
Administers the Detailed Collateral Analysis (DCA) Program. The analysis includes stress testing and a determination regarding the adequacy of collateral protection for real estate-secured loans based on established parameters.
Manages the CRE Portfolio Management Committee. This committee includes representatives from Real Estate Review, Commercial Lending and Risk Management, including Credit Administration, Commercial Collections & Workout. RER is responsible for the organization, agenda and monitoring of monthly meetings.
Has direct control and responsibility for the development and implementation of the Appraisal Policy and Commercial Appraisal Procedures that pertain to FDIC Rules and Regulations Part 323 (Appraisals), including supplementary interagency advisory opinions and guidelines regarding this regulation. RER functions also serve to maintain an expanding role with FDICIA and FDIC Rules and Regulations Part 365.
Maintains custom database management systems that support basic appraisal/evaluation functions, including, vendor management, report procurement, assignment ordering and general tracking. Some essential reporting involves appraisal performance tracking and Senior Management-level reporting for business loan exemptions and for special assumptions and conditions utilized in valuation.
Administers the Bank’s CRE Market Data Collection Program. This database tracks information contained in appraisal reports submitted to the Bank. The CRE Database includes rental, sales, expense and cap rates for usable market data, from the external appraisal reports, and also tracks internal portfolio property information. The information is used by commercial lending, credit and RER.
Provide ongoing advising and assistance to the Commercial Lending, Credit Administration, Facilities, and Risk Management departments regarding areas in addition to Appraisal and Evaluation, including managing environmental hazardous waste and local environmental laws and requirements, completing recertification’s for construction lending, and managing general real estate due diligence and underwriting concerns.
Prepare and administer formal presentations which are given to Loan Committee on a monthly basis.
Cape Cod 5 is a community bank committed to supporting its customers through its full-service digital offerings or in person at one of its locations throughout Cape Cod, Nantucket, Martha’s Vineyard and Southeastern Massachusetts. We focus on continuously evolving to be our customers’ trusted financial partner in a rapidly changing world, offering sound guidance, accessibility and insight to help support our customers’ financial wellness.