Appraisal & Environmental Analyst III
Company: Eastern Bank
Location: Boston
Posted on: March 21, 2023
Job Description:
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them The purpose is for support of centralized management of real
estate appraisal and environmental requirements under existing
policy and applicable laws and regulations. The position will
provide a separate and independent function from the lending area
in the selection, ordering, reviewing, and accepting of real estate
appraisals, evaluations, and environmental reports. While this
position will include both appraisal and environmental due
diligence, the primary focus of this position will relate to the
environmental due diligence process. Additionally, this position
will enhance ongoing risk management to Corporate Credit via
portfolio monitoring and reporting.This position is an integral
part of the Credit Risk Management process. Daily, this position
will make decisions relative to the scope of environmental due
diligence required, environmental vendors used, the report format
utilized, and the quality and reasonableness of the reports. Under
the supervision of the SVP Appraisal and Environmental Risk
Director and Chief Credit Officer (CCO) or designee, this position
will be responsible for adherence to bank policy and applicable
regulations. Outside vendors may be utilized, based on the
complexity of the problem. Ongoing decisions within this position
can impact the Bank's regulatory rating as well as
profitability.Major responsibilities include but are not limited
to:Environmental Risk Management on Existing and New Collateral
- Assesses environmental risk with recommendations for existing
and new collateral. This process includes the review of all
available resources including third party environmental due
diligence and/or regulatory compliance reports, property specific
regulatory database searches, internal questionnaires and online
municipal or regulatory resources. The assessment and
recommendations are presented and summarized in a written review
document. This Risk Management and Review will consist of multiple
processes including:
- Initial environmental screening of new requests
- Assessment of appropriate level of due diligence based on risk
factors and bank policy
- Engagement of third-party environmental reports or complete
internal regulatory database search reviews based on risk factors
and bank policy
- Review of third-party reports to ensure appropriateness
relative to content, SBA SOP, ASTM standards, conclusions, and
recommendations. When appropriate, consultation with SVP Appraisal
and Environmental Risk Director or designee, or external consultant
will take place.
- Preparation of written environmental review document with
conclusion and recommendations
- Follow-up correspondence with lending teams and other internal
personnel to understand environmental issues and
recommendations
- Review of third-party reports to address recommendations and/or
regulatory reports for ongoing release incidents.
- Responsible for tracking all reports in process including
ongoing contact with lenders and vendors.
- Responsible for timely review of all reports within prescribed
time frame. When appropriate, assigns environmental due diligence
tasks within the department.
- Regular and ongoing review and action of potential reported new
environmental incidents on portfolio collateral as reported within
a regulatory database search.Environmental Education and
Development
- Ongoing training of lending teams and credit personnel on
internal environmental process and lender environmental due
diligence.Other Requirements
- Assists in vendor management, appraisal review, property
condition assessment report review, and other department related
requirements including administrative task as assigned.Education
and ExperienceBachelor's degree in Environmental Sciences or
related field preferred.
- At least 3-5 years of experience in environmental due
diligence, including completion of Phase I Environmental Site
Assessments, Phase II Limited Subsurface Investigations,
remediation and associated regulatory reports preferredSkills and
Knowledge
- Individual should be knowledgeable about the SBA SOP; ASTM
Transaction Screen and Phase I ESA Standards; environmental
regulations in New England states (MassDEP, NHDES, RIDEM, CTDEEP,
VTDEC, and MEDEP); and Federal environmental regulations pertaining
to commercial real estate
- Individual should have financial institution and/or
environmental consulting firm experience in the preparation or the
review of Phase I Environmental Site Assessments, Phase II Limited
Subsurface Investigations, remediation and associated regulatory
reports
- Proficient in standard Microsoft Office products
(Excel/Word/Teams)
- Ability to research items through internet sources
Keywords: Eastern Bank, Boston , Appraisal & Environmental Analyst III, Professions , Boston, Massachusetts
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