Collateral Review Analyst - Riverside, RIBookmark This
Citizens Financial Group
The Collateral Review Analyst II, a member of Credit Risk Management, will assist in the managing the Bank's real estate valuation function and risk exposure of residential real estate collateral. The position is responsible for 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 document the results. Must be familiar with a variety of the appraisal industry's concepts and practices and the banks' policy and procedures. Analyzes the reasonableness of the appraisal and/or evaluation to accurately identify the collateral's market value for financing purposes. Updates the database of information that is used in various appraisal management and quality control reporting. Adheres to bank policies and procedures and complies with legal and regulatory requirements including appraisal industry's 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 to plan and accomplish goals.
Description of Function
Perform appraisal and evaluation reviews and document the results in the quality control system that evaluates and monitors the ongoing performance of third-party professional vendors.
When necessary, contact appraisal vendor to address and resolve identified appraisal concerns to their Satisfaction.
Required completion of formal appraisal training through professional and nationally recognized appraiser organizations that is a member of the Appraisal Foundation on an annual basis as directed.
JOB RESPONSIBILITIES AND FUNCTIONS:
- Knowledge of the various government/city requirements affecting real estate valuation (e.g. tax credits, construction process, certificate of occupancy approvals).
- Knowledge of lending operations and/or appraisal department policies and procedures.
- Knowledge of USPAP and related banking regulation.
- Knowledge of bank regulations affecting loan customer accounts.
- Conduct appraisal and evaluation reviews and other appraisal related due diligence as required.
- Report inconsistencies and irregularities on appraisals with the Appraisal Review Group.
- Communicate with appraisers/AMCs to obtain clarification and additional supporting explanations and/or data when deemed necessary.
- Assist in maintaining a quality control system that evaluates and monitors the ongoing performance of third-party professional vendors (appraisers).
- Perform other responsibilities as directed by the Chief Appraiser, Team Leader, or other executive management.
- Ability to communicate effectively with branches, team members and Loan Production staff.
- Functional PC skills and ability to learn specific bank-wide and departmental programs with working knowledge of Microsoft Word and Excel.
- Make sound judgments and recommendations
- Can work effectively in a team environment
- Effectively manage multiple deadlines and projects.
- Good Oral and Written Communications skills in English.
- Good Analytical/Math skills.
- 4-6 years of appraisal analysis experience
- Knowledge of all types of real property, terms, types of ownership in real estate, deeds, mortgages, etc.
- Real Estate Appraisal Analysis required
- Capable of completing appraisal and evaluation analysis of 1-4 residential properties required.
- Ability to recognize deficiencies in appraisals and evaluation reports and changes in market trends and conditions
- Able to multitask with effective and proficient communication skills.
- Underwriting knowledge and experience is a plus.
- Knowledge of Fannie Mae and Freddie Mac guidelines preferred
- 2+ years experience working with Microsoft Word, Excel, Access, PowerPoint, and Outlook.
- Working knowledge of USPAP (Uniform Standards of Professional Appraisal Practice) preferred
- General appraisal techniques and analysis experience
- Bachelor Degree preferred (concentration in Business, Real Estate, Finance or Economics) or 10 years equivalentyears of experience in lieu of degree will be considered.
- Certification or Licensure preferred.
- Real Estate Broker or Appraisal License preferred
Hours and Work Schedule
Hours per Week: 40
Work Schedule: Monday-Friday 8:00AM-5:00PM
Equal Employment Opportunity
It is the policy of RBS Citizens, N.A. to provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to race, color, ethnicity, religion, gender, pregnancy/childbirth, age, national origin, sexual orientation, gender identity or expression, disability or perceived disability, genetic information, citizenship, veteran or military status, marital or domestic partner status, or any othercategory protected by federal, state and/or local laws.