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Vice President - Appraisal Manager (Commercial Real Estate)
Morgan Stanley
New York, NY, United States
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Description
Company Profile
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.
As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.
Department Profile
The cornerstone of Morgan Stanley's risk management philosophy is the execution of risk-adjusted returns through prudent risk-taking that protects Morgan Stanley's capital base and franchise. Risk Management protects the Firm from exposure to losses resulting from defaults by our lending and trading counterparties.
Background on the Position
Commercial Real Estate (CRE) CRM team is looking to hire an experienced Appraisal Manager. The primary responsibility for this individual is to manage the engagement of appraiser and appraisal review firms and ensure the CRE appraisal and evaluation program maintains its independence and compliance with regulatory requirements and guidelines. The appraisal reports are for use in the underwriting of commercial real estate transactions across the US and all property types.
Responsibilities include:
• Management of appraiser engagement and review of appraisals to ensure consistency with Uniform Standards of Professional Appraisal Practice (USPAP), FIRREA, internal policies and generally accepted appraisal standards including managing the list of acceptable appraisal and appraisal review firms
• Determine if the appraisal adequately addresses a wide variety of issues that affect property values
• Oversee communication between appraisers and business unit underwriters to ensure adherence to regulatory guidance and internal policies and procedures
• Assess appraisal review results as part of the portfolio management of the commercial real estate portfolio with the CRE Business Unit
• Develop forms and tools to streamline processes and create efficiencies in appraisal process for complete underwriting review
Qualifications
Skills Required
• 8-10 years of commercial real estate appraisal experience for all types of properties and in locations throughout the US.
• Experience and knowledge of Commercial Real Estate Lending products and securitization
• Extensive knowledge and understanding of commercial appraisal techniques and regulations
• Demonstrated knowledge of regulations affecting the appraisal industry to include FIRREA, USPAP and the Interagency Guidelines
• Excellent written and verbal communication skills
• Candidate will need to be proficient and experience with Argus software for property valuations.
• MAI certification preferred