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Assistant Chief Commercial Appraiser

Company: Comerica
Location: Washington
Posted on: May 15, 2024

Job Description:

Functional Group Full-time Full-time Welcome! We invite you to explore the award-winning culture, people, rewards and opportunities that make Comerica Bank so special. Make your next career choice a confident one. Job Description The Assistant Chief Commercial Appraiser role will be responsible for securing bid proposals, engaging third-party appraisers, monitoring progress through appraisal completion/delivery, and completing risk-based appraisal reviews on commercial real estate appraisals for all Bank lending groups, including the Special Assets Group. The role will be accountable for meeting established goals or Service Level Agreements (SLA's) throughout appraisal process. These goals include (but are not limited to) ensuring timely delivery of the report, ensuring third-party fees are reasonable (in relation to the transaction amount, geographic location and the complexity of the property), ensuring appraisal results are properly supported, documented and credible for bank use, completing scorecards on each vendor assigned, and that the appraisal reports are compliant with all regulatory requirements, including FIRREA, Interagency Appraisal and Evaluation Guidelines, USPAP and State Licensing Laws. Please Note: In addition to the Texas and Michigan locations, this position can also be performed in Comerica's Footprint - Hybrid Position Responsibilities:

  • Processing of appraisal requests from various commercial lending groups and the Special Assets Group.
  • Creating detailed Requests for Proposals (RFP's) to procure bids on each assignment from eligible vendors within established SLA's.
  • Contractually engaging the selected vendor within established SLA's.
  • Monitoring the progress through appraisal completion/delivery, while adequately communicating appraisal statuses to internal bank associates.
  • Completing a risk-based appraisal review of the third-party's appraisal (within established SLA's) to ensure compliance with regulatory requirements, and to ensure the appraisal is based on an appropriate scope of work, employs the appropriate appraisal methodology, is adequately documented, provides reasonable support for appraisal conclusions and is deemed credible for bank use. This role includes submitting revision requests (as needed) to the vendor to obtain a credible, final appraisal report suitable for bank use.
  • Communicating the status of each assignment with internal bank associates during the appraisal process.
  • Completing scorecards for each assignment completed by a third-party vendor.
  • Process and submit vendor invoices for approval in a timely manner.
  • Assist the Chief Appraiser in establishing and maintaining a performance-based, top-tier vendor panel.
  • Assist the Chief Appraiser on special projects, appraisal procedures, user guides, audits (internal and external), compliance testing and exams, as needed. Qualifications Position Qualifications:
    • Bachelors Degree (or higher) from an accredited University
    • 7 years of experience in commercial appraisal, with 5+ years appraisal review experience, preferably at a Federally Regulated Institution
    • Currently licensed (and in good standing) as a Certified General Real Estate Appraiser
    • MAI Designation from the Appraisal Institute, or designation from another professional appraisal organization is considered a plus Work Hours 8:00am - 5:00pm Monday - Friday WorkBest Job Category Category C - Days in the office will either be designated days or will vary week to week from 2-5 days Salary Range For candidates hired in the state of California, Colorado, Washington, New York the expected salary/On-Target Earnings (OTE) range for the role is currently:
      • California - $87,600 - $176,400 Annually Salary Range(s) is subject to change. Comerica Bank takes several factors into account when determining individual starting pay. These include but are not limited to position, grade level, location/metropolitan area, skillset, and peer compensation. Comerica Bank considers the employer's work location to determine the pay range. Work Location(s) About Comerica We know our employees are critical to our overall success and we are dedicated to investing in their future. One of the ways we do this is to offer a comprehensive Total Rewards package designed to recognize and reward individual performance, as well support health, well-being, development and security for our colleagues and their family. Total Rewards consists of cash compensation, development and flexible benefit programs designed to meet individual needs today and in the future. Your salary will be commensurate with your work experience and our programs are reviewed regularly to ensure each remain competitive. We are proud to offer benefits such as health and welfare programs, strong retirement benefits, and generous paid time off programs. You and your eligible family members, including domestic partners and their children, can participate in medical, dental, and vision benefits, 401(k) and pension, income protection benefits such as life insurance, AD&D, and supplemental health programs to offset unexpected health care expenses. We also have a variety of time off programs for things like vacation, sick time, disability, and parental leave. Eligibility for some programs varies based on employment status and tenure.Upon offer, Comerica conducts a comprehensive background and fingerprint check.NMLS certification requirement: where applicable, a favorable background check screening, credit check, fingerprint check, and NMLS certification is required in accordance with the SAFE Act.Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by the Business Bank, the Retail Bank, and Wealth Management. Comerica's more than 9,000 colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.
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Keywords: Comerica, Washington DC , Assistant Chief Commercial Appraiser, Other , Washington, DC

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