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Credit Risk (Commercial Real Estate) Appraisal Manager - Associate
Division: Risk Management
Job Title: Appraisal Manager
Job Level: Associate
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.
Risk is an inherent part of Morgan Stanley’s business and activities. Our ability to properly and effectively identify, assess, monitor and manage each of the various types of risk is crucial to our soundness and profitability. The principal risks involved in the Company’s business activities are: market, credit, operational, legal, reputational, liquidity and funding. Our risk management policy is to protect the Company’s franchise, reputation and financial standing.
Credit Risk Management (CRM) evaluates credit risk transactions and approves rejects or modifies them considering the availability and appropriateness of arrangements for reducing risk or risk mitigation. The department also assigns Internal Credit Ratings; establishes and manages credit risk limits in accordance with the risk tolerance established by the Board; monitors and reports on credit risk exposures on a regular basis to the Chief Risk Officer and senior management. CRM also interacts with business units to ensure that credit risk assessments are factored into business decisions.
Commercial Real Estate (CRE) CRM team is looking to hire an experienced Appraisal Manager. The primary responsibility for this individual is to oversee our appraisal management process 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 EMEA and all property types.
- Management of appraisal engagement process to ensure consistency with RICS Standards (Red Book), ECB guidance, internal policies and generally accepted appraisal standards, including managing the list of approved appraisal and appraisal review firms;
- Determine if the appraisal adequately addresses a wide variety of issues that affect property values;
- Act as an intermediary between external appraisal manager and/or appraisal firms and our business unit underwriters to ensure adherence to regulatory guidance and internal policies and procedures;
- Coordinate transition from appraisal management to appraisal review;
- Manage quarterly and annual collateral-monitoring programs;
- Develop forms and tools to streamline processes and create efficiencies in appraisal process for complete underwriting review. Qualifications:
Skills required (essential)
- RICS qualified real estate professional a plus
- Commerical real estate valuation experience for all property types and in key European markets.
- Experience and knowledge of Commercial Real Estate Lending products and securitization
- Knowledge and understanding of commercial process, valuation techniques and regulations
- Demonstrated knowledge of regulations affecting the valuation industry, including RICS(Red Book) and IVSC
- Excellent written and verbal communication skills
- Excellent time-management skills as well as the ability to manage a system/process
- Good working knowledge of Argus Enterprise and familiarity with cash flow models
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximise their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing and advancing individuals based on their skills and talents.
Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements.