Job Details

SUMMARY

This 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

• 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