Collateral Risk Manager

Purpose of Position

The Collateral Risk Manager supports the Credit Risk Management department by managing procurement, coordination, and administration of third-party collateral reports including appraisals, environmental reports, and Property Condition Reports (PCRs/PCAs) for commercial real estate lending and portfolio management.

Essential Job Functions

• Third-Party Report Procurement & Coordination
  • Manage the ordering of third-party due diligence reports including, appraisals, environmental reports, and PCR/engineering assessments.
    • Prepare engagement letters following internal and regulatory requirements.
    • Clock timelines, scope details, and deliverables with vendors.
    • Track report progress and provide updates to internal stakeholders.
• Oversight of Appraisal & Review Processes
  • Direct the appraisal lifecycle: scoping, vendor assignment, review, and acceptance.
  • Maintain valuation independence structures and enforce regulatory firewalls.
  • Evaluate 3rd party reviews for credibility, regulatory compliance, and methodological soundness.
  • Lead coordination of resolution matters with 3rd party providers including appraisers & reviewers.
• Vendor Management & Compliance Support
  • Maintain vendor documentation including licenses, E&O insurance, and compliance materials.
  • Aid with onboarding new valuation, environmental, and engineering vendors.
  • Track vendor performance issues and escalate as appropriate.
• Invoice Management & Administrative Support
  • Receive, validate, and process third-party vendor invoices.
  • Resolve billing discrepancies and coordinate with Accounts Payable.
  • Maintain job dissemination and invoice records for audit support.
• Workflow, Reporting & Documentation
  • Keep accurate pipeline trackers and workflow logs.
  • Update internal systems with delivery dates, vendor notes, and completed reports.
  • Support the Senior Credit Officer / Chief Appraiser in Policy enhancements, preparing audit exhibits, and Board materials.
• Cross-Functional Collaboration
  • Provide professional communication and support to internal and external partners.
  • Respond to inquiries within the CRM group and the lending team promptly.

Required Qualifications

• Minimum 7 years of experience appraising and/or reviewing.
• Minimum 4 years of experience working in regulated financial institutions.
• Must have clear understanding of USPAP.
• Strong administrative and organizational skills.
• Proficiency in Excel, Word, and workflow systems.
• Experience coordinating 3rd party vendors.
• High attention to detail and accuracy.
• Certified General appraisal license.

Preferred Qualifications

• Proficiency with Collateral 360.
• Familiarity with environmental due diligence and PCR reporting.
• Expertise in NYC Multifamily tax benefits.

Pay

The starting base salary for this role is between $130,000 – $150,000. The actual base pay is dependent upon many factors, such as: training, transferrable skills, work experience, business needs and market demands.

Workplace

Effective February 18, 2025, employees in office-based positions will be working a Hybrid work schedule consisting of three days or more, on-site per week, Monday - Thursday, although the specific days may vary by site or organization, with Friday designated as a remote-working day, unless business critical tasks require an on-site presence. This Hybrid work model does not apply to, and daily in-person attendance is required for, the contact center, branch service roles, and general services where the work to be performed is located at a Company site; positions covered by a collective-bargaining agreement (unless the agreement provides for hybrid work); or any other position for which the Company has determined the job requirements cannot be reasonably met working remotely.