We are seeking a highly motivated individual who will perform tasks within the insurance team including the monitoring of the insurance on our portfolio of loans to assure compliance with loan document and/or lender requirements. Additionally, the ideal candidate will be involved in the other various functions within the insurance team including but not limited to claims, flood determinations, premium disbursements, and other duties as they arise. The position will be located in Blue Bell, PA.
Essential Duties and Responsibilities.
- Review insurance documentation on newly booked loans and resolve missing or inconsistent information with the production team.
- Contact agents and borrowers as needed to obtain insurance renewal documents and invoices.
- Review insurance requirements for the loan – loan document, closing and/or investor requirements.
- Review insurance documentation received in comparison to insurance requirements to determine insurance compliance.
- Determine adequacy of insurance coverage’s on an annual basis through a details compliance review.
- Contact insurance agents, borrowers, production team members and investors regarding non-compliant insurance resolution.
- Develop and maintain strong relationships with clients, insurance agents, borrowers, production team members.
- Utilize and work with vendors as needed.
- Review, draft and submit waivers to investors are required including documentation and submission to lender’s systems.
- Manage outsourced vendor communications with regards to letters for annual insurance renewals.
- Disburse insurance payments – invoices and reimbursements to insurance agents and borrowers.
- Manage loss draft/claims process from beginning to completion – working with borrowers, adjusters, insurance agents, Master Servicers, Lenders/Investors and other interested parties.
- Manage and force place insurance as required by the loan documents and/or investor to assure compliance and mitigation of risk.
- Assist with special projects and additional duties as assigned by management.
- Initiates and participates in projects, system enhancement design and testing; documents procedures
- Analytical skills; ability to interpret, resolve, and understand implications of complex issues
- Accuracy – ensures that data input is correct and input appropriately
- Ability to work independently, make decisions as appropriate, and advise on appropriate course of action
- Flexibility - ability to multitask and to shift priorities
- Demonstrated ability to organize & prioritize projects; complete multiple tasks on schedule
- Advanced computer skills, including MS Excel and Word.
- Ability to identify, implement and promote process improvements in day to day duties
- Customer Service Skills – ability to manage and respond to customer requests
- Strong team, leadership, negotiation and interpersonal skills
- Strong communication skills – written and spoken
- Bachelor’s Degree in Accounting, Finance, Economics, Real Estate, or other related fields
- 1-3 years related work experience, preferably in mortgage banking or financial services environment
- 1-3 years insurance experience and/or commercial loan servicing
- Asset Management
1+ to 2 years
This job is no longer active.