Gragg Risk Management LLC / Scottsdale, Arizona / Present
- Specializing in contract appraisal review services for banking clients to ensure accurate and regulatory
compliant real estate valuations are obtained.
- Provide regulatory compliance and quality control consulting services to address valuation risk
management for financial institutions. Services include:
+ Identify and interview valuation risk stakeholders
+ Review and analyze the organization chart to evaluate reporting lines to ensure regulatory compliance
+ Review valuation policies and procedures for compliance, efficiencies and best practices in client service. This includes considering the use of various valuation products (e.g. appraisals, evaluations, desktop valuations, underwriting reports, etc.) t achieve maximum efficiencies.
+ Analyze process flow from all groups to ensure cohesive operations.
+ Review and analyze current valuation workflow tracking system to ensure a cost‐effective system is in place.
+ Review a representative sample of valuation products (appraisal sand evaluations) and reviews (compliance and technical).
+ Review the valuation group budget to potentially offset costs associate with the group.
+ Provide a “compare and contrast” with similar size institutions and best practices.
+ Report findings and recommendations.
- Provide real estate litigation support and expert witness services related to real property evaluations.
Director - Chief Appraiser at MUFG Union Bank / Orange, CA / 2012 – 2017
Direct activities for Commercial Appraisal Section (CAS). Service all credit and lending functions within MUFG
Union Bank, a $110 Billion institution lending on commercial real estate across the U.S. Eight major bank units
and their sub‐units rely on CAS to include real estate industries, commercial banking, business banking, trust real
estate, credit administration and corporate real estate (bank owned office buildings and branches).
- Oversee ordering and review of approximately 2,800 commercial reports per year with external fees in
excess of $6.5 Million.
- Manage payroll of salaries and benefits of $2.8 Million per year. Team comprised of five managers, ten
professional appraisers and three administrative assistants located at three offices located in California
and one in Washington State.
- Instituted a new production tracking system that reduced appraisal time 10% while maintaining quality
and keeping fees at a consistent level.
- Implemented an effective quality control process consisting of quarterly reviews of appraisal samples.
Address any violations and identify systemic problems; severe violations result in probation or removal.
- Foster positive team morale by encouraging bottom‐up recommendations to improve policies,
procedures, systems and documents. Hold quarterly staff and manager meetings to keep team informed
of any changes in regulations and/or corporate expectations.
- Conduct effective training classes on real property valuation, principles, techniques and regulatory
- Negotiated major contracts with a commercial real estate data services provider, Co‐Star, and a
discounted cash flow provider, ARGUS.
Regional Partner - Senior Managing Director at Cushman & Wakefield Inc. / Phoenix, AZ / 2006 – 2011
Managed daily operations of 15 to 20 members of the Valuation and Advisory group. Territory comprised of
Arizona, Nevada and New Mexico. Oversaw all certified professionals and administrative support personnel.
- Returned branch to profitability, generating more revenue than had ever been produced.
- Recruited and developed staff from four certified appraisers and three inexperienced trainees in 2006 to
eight MAI‐designated professionals, three associates and two qualified administrative assistants.
- Developed new business by serving on industry trade groups and many civic boards. Organized quarterly
client appreciation events with more than 50 attendees.
- Identified clients with valuation needs beyond assigned territory. Single point of contact for a large Texas
commercial bank sourcing appraisal across the U. S.
- Responded to average of 10 RFP’s per day. Assigned engagement to the valuation professional with the
appropriate competency, property and geographic knowledge to complete engagement.
- Specialized in dispute analysis and litigation support assignments as a consultant or expert witness.
- Concentrated on golf properties and raw land, subdivisions and master‐planned communities.
Manager of Real Estate Litigation Services / PricewaterhouseCoopers LLP / Phoenix, AZ / 2004 – 2006
Managed team of professional consultants solving complex real estate issues and providing litigation throughout
the United States. Served as staffing manager for Phoenix group of ten associates.
- Assisted in the preparation of the following:
+ Real property valuation to estimate the just compensation for a 200‐acre land parcel condemned
by City of Scottsdale for the Sonoran Mountain Preserve, as well as the rebuttal expert report.
+ Rebuttal report in response to alleged groundwater contamination damages stemming from a
manufacturing facility to a single family residence and a proposed residential subdivision.
+ Rebuttal expert witness report in response to class action lawsuit alleging damages for trespass
relating to a fiber optic line placed in a 700‐mile electrical transmission line easement, VA and NC.
Director of Acquisitions / Suncor Development Company / Phoenix, AZ / 2001
Researched and identified land acquisition opportunities for premiere Southwestern developer and homebuilder
of master planned communities in Arizona, New Mexico and Utah, generating $60 Million in assets and annual
revenues of $160 Million.
- Analyzed consistent streams of opportunities from brokers, land owners, attorneys, land planners, state
land departments and investors. Determined feasibility based on location, topography and terms.
- Identified major opportunity in Boise, ID, a 30,000 acre multi‐generational family ranch.
President - Chief Operating Officer - Designated Broker / NAI Horizon / Phoenix, AZ / 1997 – 2000
Managed daily operations and supervised Division Vice Presidents, brokers, property managers, administrative
and maintenance staff. Oversaw P & L for approximately $5 Million in gross revenues from all divisions.
Designated Broker for review and signing of all real estate documents required by Arizona Department of Real
Estate. Member of the NAI Management Committee.
- Rebranded and developed new company identity; changed name from Horizon Real Estate Services to NAI
Horizon, thus providing global name recognition to compete internationally.
- Created, implemented and managed new human resources functions: job descriptions, behavioral
interviews, annual performance goals and performance management processes.
- Ranked number five brokerage firm in annual publication of the Phoenix Business Journal Book of Lists.
Vice President - Chief Appraiser / Southwest RegionFirst Interstate Bank / Wells Fargo Bank / Phoenix, AZ / 1992 – 1997
Managed five offices and staff of approximately 35 in a six‐state region for this “top 10” banking corporation with
assets in excess of $200 billion. Administered a $1 million operating budget. Managed contracting, valuation and
review of $4.8 billion of commercial real estate in one year. Implemented improved policies, procedures and
operations to improve regulatory compliance and customer service.
- Improved valuation operations to assist in removing one bank from a Letter Agreement and another from
a Memorandum of Understanding levied by the Office of the Comptroller of the Currency.
- Oversaw the development of workflow tracking system to improve customer service and established
service line agreements.
- Developed and taught training modules for appraisal and evaluation professions.
- Developed and implemented the first real estate evaluation products per banking regulation guidance.