Job Description

Description

The Appraisal Analyst (AA) 3 will be a contributing member of the Collateral Risk Management (CRM) Department within the Customer Escalated Appraisal Review (CEAR) and assist in managing the Banks real estate valuation function and risk exposure of residential real estate collateral.

Primary responsibilities include:

* Ensuring that the Bank receives regulatory-compliant appraisals and evaluations that are in compliance with corporate policy and standards, Uniform Standards of Professional Appraisal Practice (USPAP), secondary market guidelines and appropriately document the results.
* Complete escalated reviews of files as a result of customer dispute or complaint. Analyze additional data to determine relevance and draft written requests to appraisers for consideration and commentary of additional data provided.
* Conduct investigations of individual appraisers to ensure that appraisers are completing assignments within the bounds of USPAP using sound appraisal methodology and requirements set forth in the Citizens engagement letter. Thoroughly document, draft, support and report findings to management.
* Must be familiar with a variety of appraisal industrys concepts and practices to include Fannie Mae/Freddie Mac UCDP UAD Errors, Fannie Mae CU and the banks policy and procedures.
* Analyzes the reasonableness of the value reported on the appraisal and/or evaluation to accurately identify the collaterals market value for financing purposes and ensures appropriate methodology is applied with the findings and review decision is communicated in accordance with department procedures.
* Updates the CMS Platform and Loan Origination Systems with information that is used in various appraisal management and quality control reporting.
* Adhere to bank policies and procedures and comply with Legal and regulatory requirements including appraisal industrys concepts and practices.
* Follows effective controls and processes to ensure risks are measured, monitored and controlled and compliance requirements are adhered to on an on-going basis.
* Relies on experience and judgment in applying due diligence to accomplish goals.
* Perform appraisal and evaluation reviews for conforming and non-conforming loan amount Conventional, Portfolio and Third Party Originated (TPO) loans of owner-occupied (first and second liens) and tenant (investment) properties of single family homes, condominium units, properties located in PUDs , >10 acres, DU Red Flag, non-Residential Zoning and non-arms length transactions, multi-family dwellings, Construction to Permanent (CtP) transactions, Co-op units and appraisals with DataVerify alerts with loan amounts ranging from $1 - $999,999 if AA 3 is a DE Underwriter or Licensed Appraiser and $1 - $10,000,000 if AA3 is a Certified Appraiser and document the results in the CMS Platform and/or appropriate Loan Origination System (LOS) that evaluates and monitors the on-going performance of third-party professional vendors (AMCs).
* Only AA3 Certified Appraisers may review appraisals for complex properties with loan amounts in excess of $1,000,000.
* For loan amounts of $1,500,000 and higher, the Certified Appraiser must reconcile the two (2) appraisal reports required, and determine which appraisal is most credible, best supports market value and will be utilized in the lending decision.
* Communicate to CEAR Manager when appraiser does not utilize appropriate methodology for determination on deeming appraisal flawed resulting in a new appraisal product being obtained and investigation of appraiser.
* Conduct appraiser investigations, draft recommendation and quality improvement letters supporting disciplinary actions and present findings to senior management during monthly meetings.
* When necessary, contact appraisal vendor by communicating through the appropriate systems to address and resolve identified appraisal concerns of a material nature (those impacting value, marketability of property and salability of loan) to the reviewers satisfaction.
* Comments will be placed on the worksheet for any Items of a non-material nature observed on the appraisal or evaluation.
* It is critical reviews be thoroughly conducted to ensure risk mitigation while meeting established review SLAs.
* If Appraisal Management Companies (AMCs) do not provide responses to revision requests within designated SLAs, AAs will be responsible to follow up with AMCs.
* Responsible for inputting comments in LOS regarding material revisions requested or recaps of the approval information.
* Responsible for sending e-mails to processor/Loan Originator (LO) to inform of revisions requested and final decisions on the appraisals.
* Perform other responsibilities as directed by CRM management.

Qualifications

Required Skills/Experience:

* 4-7 years minimum, 7-10 years preferred of experience appraising or reviewing appraisals of 1-4 family residential real estate and complex appraisal assignments or 7-10 years preferred of experience as DE Underwriter.
* State Appraiser Certification or License and/or DE Underwriting Certification required.
* Knowledge of all types of real property, terms, types of ownership in real estate, deeds, mortgages, etc.
* Knowledge of Fannie Mae and Freddie Mac guidelines preferred
* Extensive knowledge of USPAP guidelines and general appraisal techniques and analysis and banking regulations
* Knowledge of Lending Operations and/or Appraisal Department policies and procedures
* General appraisal techniques and analysis experience knowledge of the various government/city requirements affecting real estate valuation (e.g. tax credits, certificate of occupancy approvals)
* 2+ years working with Microsoft Word, Excel, Access, PowerPoint and Outlook
* Effectively and proficiently communicate both verbally and in writing in a highly professional manner
* Can work effectively in a team environment
* Effectively manage multiple deadlines and projects
* Good analytical/math skills
* Must be a self-starter and able to work with little supervision

Education:

* Bachelor's Degree preferred: concentration in Business, Real Estate, Finance, Economics or 10 years experience in Mortgage industry will be considered in lieu of degree

Hours and Work Schedule

Hours per week: 40

Work Schedule: 8:00am - 5:00pm, Monday - Friday

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Why Work for Us

At Citizens, you'll find a customer-centric culture built around helping our customers and giving back to our local communities. When you join our team, you are part of a supportive and collaborative workforce, with access to training and tools to accelerate your potential and maximize your career growth.

Equal Employment Opportunity

It is the policy of Citizens to provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to race, color, ethnicity, religion, gender, pregnancy/childbirth, colleague or a dependents reproductive health decision making, age, national origin, sexual orientation, gender identity or expression, disability or perceived disability, genetic information, genetic characteristic, citizenship, veteran or military status, marital or domestic partner status, family status/parenthood, victim of domestic violence, or any other category protected by federal, state and/or local laws.

Equal Employment and Opportunity Employer/Disabled/Veteran