Collateral Risk Associate

WHO ARE WE: Alerus is a commercial wealth bank and national retirement provider with one core purpose: helping clients achieve their financial goals. We are driven by a shared commitment to always do the right thing; leading with integrity and providing valued advice and guidance to our clients. We value the expertise and skillsets each team member provides and encourage collaboration, innovation, adaptability, and an entrepreneurial spirit at all levels of our company. By consistently seeking improvements and growth, we foster long-term relationships with clients and team members. We are proud to be recognized as a Top Workplace by numerous industry and regional outlets.

CORE VALUES: Passion for Excellence :: Success is Never Final :: Do the Right Thing :: One Alerus

ABOUT THE ROLE:

The Collateral Risk Associate plays a key role in supporting real estate valuation and environmental due diligence processes that inform loan acquisition and origination decisions. Ensures collateral risk is assessed accurately and consistently in alignment with applicable criteria and the organization's risk appetite. Coordinates, reviews, and reports property values and environmental risks to various business units across the organization, while maintaining strong cross-functional communication to align valuation strategies and risk assessments. Reporting to the Collateral Risk Manager, the Associate collaborates with internal stakeholders and external vendors and contributes to the development and administration of valuation and environmental guidelines, policies, and procedures. Will also support broader initiatives that promote departmental growth and enhance Alerus's overall risk management capabilities.

WHAT YOU'LL BE DOING:

• Review third-party appraisals, evaluations, and internal valuation products to ensure credible methodologies, market-supported assumptions, and alignment with current market conditions; perform independent internal evaluations using established techniques and data.
• Provide valuation expertise across commercial, residential, and agricultural properties, including high-risk profiles, ROVs, and second opinions; guide staff on valuation strategies and escalate issues related to noncompliance, misrepresentation, or fraud.
• Present valuation findings to leadership, resolve discrepancies through vendor communication, and keep management informed of performance, compliance, and quality concerns.
• Support appraisal independence, collaborate with compliance and business units, and coordinate with internal stakeholders, market participants, and vendors to ensure timely, accurate completion of valuation tasks; participate in escalations with senior management.
• Conduct quantitative and qualitative analyses for benchmarking, performance testing, and reporting to support data-driven decision-making and valuation accuracy.
• Monitor market trends across the real estate portfolio and extract insights to inform strategic planning and risk mitigation.
• Research industry guidelines and maintain current knowledge of valuation and environmental standards and market conditions to support compliance and informed risk assessments.
• Streamline manual processes, integrate market research into valuation workflows, and apply strong organizational and technical skills to execute valuation reviews and consulting engagements.
• Manage the order pipeline for appraisals, evaluations, and environmental reports; monitor requests, send reports for third-party review when needed, and ensure timely completion and delivery of final reports.
• Support vendor management including onboarding, credential tracking, and performance reviews; assist in maintaining valuation and environmental policies and serve as a subject matter expert across the organization.

WHAT YOU SHOULD HAVE:

• Bachelor's degree in finance, accounting, real estate, or a related field preferred; equivalent work experience will be considered.
• 5-7 years of real estate experience, including at least 3 years in valuation, appraisal, or acquisitions; prior field experience conducting appraisals is strongly preferred.
• Current state appraisal license or certification preferred; solid understanding of USPAP and valuation regulations.
• Strong knowledge of commercial, residential, and agricultural property types, and valuation methodologies including cost, income, and sales comparison approaches.
• Proven ability to determine property valuations under diverse scenarios and market conditions; skilled in both quantitative and qualitative risk analysis.
• Proficient in compiling, auditing, and interpreting financial, performance, and valuation data; familiarity with valuation tools, market research platforms, and financial modeling software is a plus.
• Excellent communication, organizational, and interpersonal skills; able to collaborate across departments, manage deadlines, and present findings to senior leadership and external stakeholders with integrity and professionalism.

WHAT WE BRING TO THE TABLE:

• Competitive compensation including base salary, bonus and/or incentive opportunities.
• Comprehensive benefits package providing a wide range of health and well-being benefits, including medical, dental, vision, life and long-term disability insurance; and 401(k) and ESOP for retirement savings.
• Generous paid time off programs such as flexible time off, company-paid holidays, parental and bereavement leave.
• Learning and development resources for personal and professional career development, and advancement opportunities.
• Access to financial experts for guidance, financial wellness tools, and discounts on Alerus products and services.
• Support for the communities we live in through paid volunteer time and a company donation match opportunity.

WORK ENVIRONMENT: Work is typically performed in an office setting. The employee is regularly required to sit for extended periods of time. The employee is occasionally required to move about the office utilizing proper ergonomic safeguards when doing so. Additionally, the employee must occasionally lift or move supplies and materials up to 20 pounds.

BASE PAY RANGE:

$72,000 - $100,000 per year

The above information in this description has been designed to indicate the general nature and level of work performed by employees in this position. It is not designed to contain or be interpreted as an exhaustive list of all responsibilities, duties, and qualifications required of employees assigned to this job.

Alerus is an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.