SUMMARYThis individual will be responsible for tracking and monitoring insurance on various types of collateral as required by bank policy and federal/state regulations. Additionally, this individual will serve as a liaison between the bank, insurance companies, and third party insurance tracking vendor(s).SPECIFIC JOB DUTIES
- Monitor and process incoming insurance documents received by the bank
- Transmit insurance documents via secure file transfer to the bank's insurance tracking vendor
- Work with insurance companies to verify continuation of insurance coverage
- Work with banking staff to resolve insurance tracking issues
- Work with banking staff to resolve non-coverage or deficient coverage issues
- Review insurance tracking reports provided by the bank's insurance tracking vendor
- Produce payment change notification letters when forced placed insurance policies are issued
- Assist with processing of force place premiums
- Process force place premium refunds
- Assist with policy premium payment on escrowed loans
- Assist with annual property tax research and payments
JOB REQUIREMENTS
- Associate's Degree or Bachelor's Degree in a Business or Finance related field; or 2 (two) years of loan operations experience
- Strong understanding of loan application policies and procedures, as well as documentation required by federal and state regulations
- Strong understanding of insurance documents (i.e., policies, applications, etc.)
- Experience in Loan Operations or experience in the insurance industry
- Strong interpersonal communication
- Strong organizational and time management skills
- Strong computer, keyboard, and software application (Microsoft Word and Excel) skills
Equal Opportunity Employer/Disabled/Veterans