Managing Director, Commercial Appraisal Review

First Merchants Bank is seeking a Managing Director, Commercial Appraisal Review to join our team! This position will be responsible for efficacy of the corporation's appraisal and appraisal review process.

Essential Duties and Responsibilities:

• Administer and maintain the list of approved appraisers; Manage the initial approval of all new appraisers; manage procedures for the selection of individual appraisers and procedures to monitor their ongoing performance; generate and maintain a database to capture concerns regarding an appraiser's performance; manage the annual certification of all appraisers on the appraisal list.
• Administer and manage the ordering, performing, and reviewing of all appraisals and evaluations; cancel appraisals as necessary; ensure that appraisals comply with the appraisal regulations and the Interagency Guidelines; ensure that appraisals and evaluations contain sufficient information to support the credit decision; review or assign the review of appraisals and evaluations in a timely manner by a qualified individual (independence, education, and training qualifications) to facilitate a credit decision; manage and resolve concerns and deficiencies with appraisals and appraisal reviews.
• Manage the content and appropriate use of appraisals and evaluations consistent with safe and sound banking practices; assess whether an existing appraisal or evaluation may be used; implement internal controls that promote compliance with these programs standards; manage criteria for obtaining appraisals or evaluations for transactions that are not otherwise covered by the appraisal requirement.
• Maintain the real estate appraisal policy and its annual review; maintain database of exceptions to the appraisal policy; monitor portfolio collateral value and on a semi-annual basis, report to Senior Management on real estate collateral, vacancy trends, and market specific information.
• Manage the third-party software used for managing the appraisal process and generating reports; creating appropriate reports for the management of the appraisal process and appropriate reporting to Senior Management.
• Conduct or arrange for an annual review of the performance of all approved appraisers used within the preceding 12-month period to determine compliance with approved policies and procedures and the reasonableness of the value estimates reported. A risk based sample of appraisals will require a third party desktop review.
• Serve as a liaison between appraisers, lending staff, management and others to ensure expedient and accurate performance of the appraisal process and to ensure the independence in accordance with regulatory requirements.

To be successful in this position, we require the following:

• Bachelor's degree in business or related field.
• A minimum of eight (8) years of predominately commercial real estate appraisal and/or bank appraisal review experience.
• Strong knowledge of FIRREA, USAP, rules of regulatory agencies and banking regulations.
• Computer proficient in Word, Outlook, Excel, Teams, and appraisal management and commercial real estate appraisal software.
• State appraisal license certification.
• Additional skills needed:
  
  
  
  • Thorough understanding of real estate valuation principles and procedures.
  • Strong analytical skills.
  • Strong decision-making skills.
  • Good project management skills.
  • Good oral and written communication skills.
  • Familiarity with loan review and regulatory exam procedures.
  • Familiarity with environmental risk issues.
  
  
  
  

The following would be a plus:

• MAI (Commercial Appraiser), AI-GRS (Appraisal Institute - General Review), and AI-RRS (Residential Reviewer) appraiser designations.

First Merchants offers the following:

• Base Pay PLUS Bonuses
• Medical, Dental and Vision Insurance
• 401k
• Health Savings and Flexible Spending Accounts
• Vacation/Sick Time
• Paid Holidays
• Paid Parental Leave
• Tuition Reimbursement
• Additional Benefits

A little about us:

First Merchants is guided by a genuine philosophy of being a meaningful place to work and having a prosperous impact across all walks of life throughout the communities we serve, including consumers, businesses and other organizations. Our Vision, Mission and Team statement reflect and reinforce that authentic service philosophy.

Our Vision is:

To enhance the financial wellness of the diverse communities we serve.

Our Mission is:

To be the most responsive, knowledgeable, and high-performing financial organization for our clients, teammates, and shareholders.

Our Team:

"We are a collection of dynamic colleagues with diverse experiences and perspectives who share a passion for positively impacting lives. We are genuinely committed to attracting and engaging teammates of diverse backgrounds. We believe in the power of inclusion and belonging."

Apply today to begin your career with us!