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Residential Real Estate Valuation Manager

at Bangor Savings Bank in Bangor, Maine, United States

Job Description

FUNCTION: Working under the direction and guidelines established by the Director of Appraisal Services, is proactively responsible for leading and managing the Bank’s Residential Real Estate Valuation workflow and the Bank’s Residential Review Appraisers, Real Estate Valuation Analysts and Assistants.

Manages both the internal and external valuation process to ensure timely and appropriate ordering and reviewing of residential valuation reports for loans secured by residential mortgages (whether originated by Residential Mortgage, Consumer Lending, or other business partners). Based upon knowledge of the proposed loan and property, directs appraisal or evaluation requests to appropriate internal or external resources to obtain appropriate valuation products or services and/or valuation reviews (as required) and to meet established turnaround times. Additionally, provides responsive and appropriate appraisal and/or valuation interdiction to resolve challenges in delivery, quality or other items, as appropriate and possible. Works closely with loan origination teams and other business partners to ensure appropriate appraisal or valuation product ordering, strong, timely communication between departments, appraisers and other appropriate constituents and meeting bank-established turnaround times and customer needs while providing strong customer service and delivery.

Accountabilities:

+ Proactively and effectively leads and manages the responsibilities, duties and deliveries of the Residential Real Estate Review Appraisers, Valuation Analysts and Assistants.

+ Proactively manages the Residential Real Estate Valuation workflow, customer experience (within our control) and delivery.

+ Oversees the ordering system (ValuTrac), tracking and monitoring of residential appraisals to ensure reports are received in a timely manner to facilitate the credit decision, customer experience and delivery.

+ Provides monthly reporting to the Director of Appraisal Services, business lines and other identified uses – to include, but not be limited to: a) timeline/turnaround time reporting to all lines of business as directed and/or as appropriate. B) residential order volume reporting to all lines of business, c) current and prospective trends, regulatory and product updates and d) other appropriate relevant information.

+ Oversees use of mortgage counterparty portals (e.g.: FHA, EDA Portal, VA Staff Appraisal Reviewer, FHLMC, etc.)

+ Oversees, and may manage, use of vendors to provide review services and/or products and services to support and/or to supplement internal resources.

+ Provides leadership, management and proactive guidance and assistance in responsively resolving problems or complaints.

+ Demonstrates, maintains and improves the ability to communicate with all levels of management and vendors to ensure both internal and external customer satisfaction.

+ Assists internal customers (who communicate with external customers) in understanding the collateral appraisal and/or valuation process.

+ Assists in planning and developing systems and procedures to improve the operating quality and efficiency of the appraisal and valuation ordering and review process.

+ Responsible for staff scheduling to include: work assignments/rotations, employee training, employee vacations, back-up for absent employees, and shift rotations.

+ Responsible for proactively identifying and effectively addressing opportunities for department and business partner training, communication and continuous improvement.

+ Assist the Director in the documenting and updating of department procedures and service level agreements (SLAs).

+ May order and review residential appraisals and evaluations as necessary.

+ Assists with all duties and responsibilities of the Residential Real Estate Valuation Analysts and Assistants as necessary.

+ Other duties as assigned.

Compliance and Control:

+ Assists in ensuring that the Bank strongly and effectively complies with all compliance relative to local, state and federal regulations governing real estate appraisals and valuations.

+ Provides timely and responsive reviews and approves work prepared by staff and appraisers to ensure compliance with said regulations.

General:

+ Interacts professionally, collegially, responsively and effectively with all constituents.

+ Conforms to acceptable performance standards as expressed in the Employee Handbook and as expected and needed by the duties assigned.

+ Performs additional duties as requested.

Knowledge/Skills/Experience Requirements:

+ Strong, demonstrated leadership and proven management results is required.

+ Strong communication, process management and improvement, while providing excellent customer experience, problem-solving and delivery is necessary.

+ Ability to apply sound and analytic skills, attention to details, and the ability to ask, understand and evaluate information and opportunities.

+ College degree preferred. High school diploma with demonstrated knowledge of standard appraisal industry practices, general understanding of USPAP and related subject matters.

+ Three to five years of demonstration leadership and/or management experience with residential real estate and appropriate staff management is highly desirable (real estate appraiser, broker, residential mortgage, consumer real estate or other similar experience may be considered).

+ Strong communication skills, verbal and written, to explain conclusions and appraisal/valuation issues to both internal and external constituents. Must have the ability to articulate knowledgeably, openly, professionally and independently points of view, information and ideas that are in the best interest of the Bank while effectively listening and resolving various items, as appropriate when possible.

+ Ability to work with AVM (automated valuation models) tools and appraisal management software/tools to ensure efficiency of process and reliability of value conclusion.

+ Ability to effectively and responsively use other software tools for risk and department management, reporting and opportunities for continuous improvement and delivery.

+ Strong objective decision making ability to cope with ambiguities and inconsistencies while making, responsive, logical, well informed, independent decisions.

+ Strong ability to interact harmoniously with a variety of internal and external constituencies and especially during the high-volume months of the year and other challenging times or circumstances (demand can vary, based on economic trends, interest rates and internal factors such as loan ‘campaigns’.

+ Possesses solid understanding of residential and consumer real estate lending, appraisals and valuations in diverse markets and cultures, including but not limited to market analysis, vendor analysis, and quality control, etc…

Physical Demands/Conditions Requirements:

+ General office environment.

+ Moderate lifting (to 35 lbs.) required. Moderate reaching, walking, sitting and standing required.

Equipment Used:

+ General office equipment.

External and internal applications, as well as position incumbents who become disabled, must be able to perform the essential functions (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on an individual basis.

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Job Posting: JC217605651

Posted On: Jul 01, 2022

Updated On: Aug 12, 2022