Loan Operations Insurance Specialist

The Insurance Specialist is responsible for tracking and monitoring hazard, windstorm, content and liability insurance in conjunction with the Company's third party insurance vendor, as well as the Bank's tracking system. Additionally, responsible for collecting policy renewal documentation, certifying proper coverage, ordering force placements and collecting premiums on force-placed policies.

Responsibilities:

• Assist in the overall insurance tracking/monitoring program: hazard, liability, flood, content, vehicle ensuring that loan portfolio insurance policies are properly tracked, coverages are adequate, and exceptions are reported.
• Using the vendor's Track Collateral System to run reports of upcoming expirations, cancellations, and expired policies in order to perform monitoring functions.
• Provide Supervisor with weekly updates of potential force-placements.
• Request manual force-placement and refunds, as applicable.
• Track property taxes for real estate secured loans in conjunction with the third party tax monitoring vendor
• Request, receive and review insurance coverage documentation for loans tracked by the insurance vendor. Scan and forward documentation to the insurance to update the tracking system and update the customer's file, respectively.
• Request, receive and review insurance coverage documentation for loans not tracked by the vendor (e.g., hazard/windstorm on commercial loans). Update the bank's tracking system.
• Reconcile and prepare instructions to process the auto, hazard and windstorm statements.
• Back up responsibilities for Supervisor.
• Assist in other functions of the department, as needed, as well as special projects that arise from time to time.

Minimum Education and/or Certifications Requirements:

High school diploma. A college degree or equivalent and/or a 2-20 (General Lines Agent License), or insurance CSR (4-40) license is a plus.

Minimum Work Experience Requirements:

Two or more years of experience working with auto, residential and commercial property insurance policies preferably in a banking institution.

Technical and/or Other Essential Knowledge:

Sound time management, organizational and communication skills. Knowledge of auto, liability, content, hazard windstorm insurance, and flood insurance topics. Experience with MS Office, particularly proficient in MS Word and Excel; PowerPoint a plus. Experience with FIS IBS Insight a plus.