Real property appraiser job description

In JPMAM's Global Alternatives Group, the Valuations Manager will report to the Head of Valuations for Global Alternatives and will be responsible for the review of equity and debt valuations of investments in JPMAM's U.S. Real Estate, Private Credit, and Private Equity funds.

The job is designed to promote ongoing contact between the Valuations Team, Head of Valuations, external appraisers, seasoned asset managers, analysts/associates, and investment team members.
The following core competencies are expected of the Valuations Manager:

Understand the three (3) appraisal approaches to value - income, sales comparable/market, and cost. The Valuations Manager will be required to review appraisals and comment on the reasonableness of values and assumptions. He/she must be able to quickly identify errors and issues, discuss concerns and issues raised by asset management, and communicate effectively with the appraisers to bring resolution to value conclusions in accordance with required reporting timeframes. Audit Support - Respond to auditors' questions and provide additional information when needed for asset valuations. Platform-wide initiatives - Actively participate in initiatives to benefit the broader platform, such as training activities, process/technology enhancements, etc. Communication with management and across functional areas - Inform the Head of Valuations of difficulties/weaknesses in the valuation process and propose potential solutions. Investment Committee Presentation Reviews - Attend/review the investment committee presentations of new acquisitions and originations. The Valuations manager must have competence and the ability to identify inconsistencies in the pricing of potential acquisitions and assets under management versus current appraisal pricing. Providing capital market and appraisal information to the acquisitions group and the Investment Committee process is another responsibility. The Valuations Manager will respond to requests by acquisitions staff for appraisal contacts, sales comparable information, and input on pricing when needed. Financial Modeling - the Valuations Manager must be fluent in Argus Enterprise and Excel, and have the ability to model valuations. Written/Oral Presentation Skills - the Valuations Manager must possess strong written and verbal skills, and will be expected to present his/her findings, decisions, etc. and defend the same to internal and external stakeholders, including portfolio managers, internal/external auditors, service providers, and investors.

The expectation is that the Valuations Manager will arrive with a strong interest in real estate and other alternative asset classes, including debt funds and direct investments in private companies, possess well-developed written and quantitative analysis skills, and a level of intellectual curiosity that will cause the Valuations Manager to challenge his/her co-workers to share their professional knowledge and experience continuously. Abstract reasoning skills, a high degree of organization, the ability to handle multiple tasks simultaneously, and the ability to self-start are all attributes that contribute to success in this position. A minimum of eight years of prior real estate valuation experience (primarily focused on institutional quality properties in major markets throughout the U.S.) or business valuation experience is required. The MAI designation or substantial progress towards obtaining the MAI designation is preferred.

JPMorgan Chase & Co., one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as any mental health or physical disability needs.

The health and safety of our colleagues, candidates, clients and communities has been a top priority in light of the COVID-19 pandemic. JPMorgan Chase was awarded the "WELL Health-Safety Rating" for all of our 6,200 locations globally based on our operational policies, maintenance protocols, stakeholder engagement and emergency plans to address a post-COVID-19 environment.

As a part of our commitment to health and safety, we have implemented various COVID-related health and safety requirements for our workforce. Employees are expected to follow the Firm's current COVID-19 or other infectious disease health and safety requirements, including local requirements. Requirements include sharing information including your vaccine card in the firm's vaccine record tool, and may include mask wearing. Requirements may change in the future with the evolving public health landscape. JPMorgan Chase will consider accommodation requests as required by applicable law.

Equal Opportunity Employer/Disability/Veterans

Under general direction in an assigned area of activity, the Principal Real Property Appraiser is responsible for the appraisal of real property for tax purposes; performs unusual or difficult appraisal work; supervises the activities of subordinate personnel engaged in such work; and performs related duties as required. The position also is responsible for: assisting in coordinating, interpreting and enforcing existing evaluation methods and procedures in connection with real property appraisal activities; making regular contact with the general public, outside organizations and their representatives in furnishing and obtaining information on real property appraisals and tax assessment matters; preparing and reviewing detailed appraisal reports and records.
Duties may include, but are not limited to:

Supervises the work of senior, journey level and trainee Real Property Appraisers engaged in appraisal and assessment work within an assigned area of activity by planning, coordinating and monitoring overall team/section workload and productivity to ensure maximum productivity, timely completion of all work, and compliance with Real Property productivity standards. This includes ongoing work, projects and special assignments.

Applies and enforces existing tax laws and statutes and assessment methods and procedures; interprets the ramifications of current assessment legislation in connection with real property appraisal activities; explains the above to subordinates, representatives of other departments and the general public.

Advises Assessor, Deputies, Chiefs, and Senior Managers in establishing procedures, interpreting legislation and setting department goals. Evaluates, develops and implements policies and procedures for real property appraisal work in order to improve department operations and productivity.

Reviews and approves all real property valuations, pursuant to the Revenue and Taxation Code, SBE Rules, Standards manual, office policies and procedures; reviews developed income multipliers for multi-unit income-producing residential properties and derived capitalization rates for commercial sales; reviews and approves completed parcel management; reviews all lien date progress assessment valuations; and reviews all direct enrollments in appraisers assigned workload.

Resolves valuation problems by reviewing complaint investigations performed by subordinates and by conferring with taxpayers and their representatives in order to determine and explain changes in valuation.

Performs appraisals on complex properties; performs difficult special investigations and surveys related to complex transactions, corporate acquisitions, and mergers.

Maintains accurate, timely, and automated appraisal data, and report status and progress on goals and objectives. Provides status of appraiser production relative to interim and long term goals as requested by management. Verifies that appraisers prepare and maintain supporting documentation and data on valuations. Prepares technical reports, records, instructions, memos, correspondence, progress reports and other documents related to the appraisal of real property for tax assessment purposes. Responds to taxpayer and inter-City correspondence.

Interacts with other agencies and City departments in order to resolve complex assessment issues and implements uniformity of assessment standards.

Represents the Assessor before the Assessment Appeals Board, and/or appears as an expert witness before judicial and quasi-judicial bodies in order to answer questions on assessment issues; makes public presentations; prepares and presents at an Assessment Appeals Board; and consults with City Attorney in writing legal findings of fact. Represents the office at public forums, taxpayer fairs, professional or appraiser organizations, etc.

Maintains professional certification and competency by completing legally required hours of State approved appraisal courses annually. Ensures that all assigned staff complete training requirements and maintain professional certification and competency.

May include additional duties as assigned.

Recruitment Number

Salary rate is determined by collective bargaining agreements or Pay Administration Policy as applicable.

ELECTRONIC MAIL (EMAIL) NOTIFICATIONS:The Department of Human Resources will use ONLY electronic mail (email) to notify applicants of important information relating to the status, processing of their applications and examination notices.

Please ensure that the email address and contact information you provide is current, secure, and readily accessible to you. We will not be responsible in any way if you do not receive our emails or fail to check your email-box in a timely manner. In addition, please be aware that you may no longer receive notification about applications submitted if you choose to disable the Job Application Emails feature.

Recruitment No: 2223-097 Open Competitive

Open: Includes all interested individuals including members of the general public

Eligible lists may be used for temporary and permanent vacancies for the class of work during the life of the eligible list. Temporary appointments may lead to conversion to permanent employment.

Duties Summary

Under immediate supervision, receives initial orientation and training in conducting appraisals of real property; and performs other duties as required.

Qualification Requirements

MINIMUM QUALIFICATION REQUIREMENTS

You must meet all the requirements for the position you are seeking as of the filing date of your application, unless otherwise specified. If you do NOT meet the minimum qualification requirements your application will be rejected. Therefore, please provide a complete application of all the information you would want considered in our review. You may request an administrative review to provide clarifying information only on the information that was originally provided on your application at the time of filing; subsequent submittal of missing documents or new information that was not part of your original application submittal will not be considered in the Administrative Review.

Please note that unless specifically indicated, internships that are required for graduation may not be credited for experience. Your possession of the required amount of experience will not in itself be accepted as proof of qualification for the position. Overall paid or unpaid experience must be of such scope and responsibility as to conclusively demonstrate that you have the ability to perform the duties of the position.

Note: Calculation of experience is based on full-time, 40-hour work weeks. Part-time experience will be pro-rated. Example: Twelve months of experience at 20 hours per week is equivalent to six months of experience. In addition, hours worked in excess of 40 hours per week will not be credited. Example: Twelve months of experience at 60 hours per week is equivalent to one year, not one and one-half years.

Training and Experience: A combination of education and experience substantially equivalent to graduation from an accredited college or university with a baccalaureate degree in real estate, business or public administration, economics or a related field.

Substitutions Allowed:

The following may be substituted for education:

General professional work experience or education credits can be substituted for up to two (2) years of the bachelor's degree such as:

* Full time progressively responsible professional, technical or substantive work experience demonstrating the scope, level and quality of work comparable to a curriculum leading to an associate's, bachelor's or master's degree.
* Successful completion of semester credits in a curriculum leading to a degree or diploma at an accredited community college, trades school, college, or university. (15 semester credits = 6 months).