Residential Real Estate Appraisal Evaluator Jobs Vacancy in Bmo Financial Group Toronto
Bmo Financial Group Toronto urgently required following position for Residential Real Estate Appraisal Evaluator. Please read this job advertisement carefully before apply. There are some qualifications, experience and skills requirement that the employers require. Does your career history fit these requirements? Ensure you understand the role you are applying for and that it is suited to your skills and qualifications.
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Residential Real Estate Appraisal Evaluator Jobs Vacancy in Bmo Financial Group Toronto Jobs Details:
The Residential Real Estate Evaluator is responsible for the review/audit of residential real estate appraisal reports, which are sourced via bank approved appraisal supplier firms, post lending decision. Within specific area of responsibility, using established selection criteria, this position ensures that completed residential appraisal reports comply with the professional standards of applicable regulating/governing bodies as well as Bank policy and further that valuations are conservative and appropriate for use in the adjudication of real estate secured retail mortgage loans. This position evaluates the performance and deliverables of vendor supplied appraisals/valuations against performance measures and Bank standards. The incumbent performs this role in a manner that is independent of both the origination and approval of the mortgage transaction.
Review/Audit Residential Real Estate Appraisals (80%)
- Demonstrate thoroughness, proficiency and timeliness in performing audits of residential real estate appraisals/evaluation.
- Identify and collaborate with valuation vendors to resolve valuation issues.
- Ensure all appraisals are sound, of good quality and that the Bank receives appraisal reports from appraisers that are in good standing
- Collaborate with Risk management colleagues as well as the Line of Business
- Must be able to effectively prioritize and manage workload
- Act in full compliance with Bank policy/guidelines/procedures and Regulations to protect the Bank’s assets.
- Ensure internal customer satisfaction, quality, consistency, timeliness, risk control and regulatory compliance.
- Respond to and decision all escalated issues raised by Relationship Managers, Underwriters, and other areas of the Bank regarding real estate valuations.
- Report on the quality of appraisers as well as the service quality provided by appraisal suppliers
- Identify adverse trends in real estate appraisals and recommend course of remediation
- Ensure all necessary documentation is completed for all real estate valuations performed.
- Responsible for escalating files to manager as appropriate according to departmental procedures.
Identify and Report Property and/or Transactional Risk (10%)
- Collaborate with Manager to identify potential credit risks relative to real estate valuations.
- Escalate based on predetermined procedures when it is determined that a valuation product will not support the transaction.
- Provide advice to line of business personnel in real estate valuation matters as needed.
- Responsible for knowledge of and adherence to the Bank’s current Consumer Real Estate Appraisal & Evaluation Policy and Oversight procedures
- Identify and report any significant potential risks in transactions secured by residential real estate collateral.
Appraisal Service Provider Performance Management (10%)
- Assist in ongoing valuation of vendor performance management activities. Confer with peers and Manager to convey and understand concerns and discuss escalated issues with external valuation vendors.
- Recommend resolutions for valuations that do not meet Bank standards. Follow-up to ensure adequate resolution.
- Assist in the development and maintenance of approved and ineligible vendor/appraiser lists. Maintain required documentation on vendor performance management and status.
Knowledge and Skills
- Minimum 3-5 years of residential valuation, appraisal, assessment, real estate sales, underwriting with collateral review component, or related work experience
- Professionally designated to act in the capacity of a real estate appraiser
- In-depth knowledge of real estate principles and procedures
- Working knowledge of Bank products and the personal lending process
- Proficiency in Microsoft Suite of products such as Excel, Word, Power Point and Access
- Strong interpersonal and communication (verbal and written) skills
- Strong analytical and problem solving skills
- Sound judgment and independent decision-making skills
- Ability to work independently as well as within a team environment
At BMO we have a shared purpose; we put the customer at the centre of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank.
As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.
To find out more visit us at https://bmocareers.com .
BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process.
Job Risk Management
Primary Location Canada-Ontario-Toronto
Job Posting 10/26/17
Unposting Date Ongoing