Collateral Management Senior Tax & Insurance Associate

About the role

The Collateral Management Senior Tax and Insurance Associate position at OceanFirst Bank supports the Collateral Management Supervisor in quality control. This role involves monitoring escrowed and non-escrowed accounts to protect the bank's interests and ensuring timely payments for real estate taxes and insurance premiums.

Responsibilities

• Aids team members with internal and external inquiries and problems regarding real estate tax and insurance records.
• Trains the team to meet and exceed service levels, ensuring operational excellence and creating an exceptional customer experience.
• Maintains and reviews processes to ensure timely payment of real estate taxes and insurance premiums.
• Assists with annual analyses of escrow accounts to ensure adequate payments from borrowers.
• Monitors and tracks collateral and escrow data on the core system and third-party vendor records.
• Verifies compliance with regulatory requirements and reports on third-party insurance and tax vendor processes.
• Performs reconciliations between vendor records and core system to identify and resolve discrepancies promptly.
• Reviews and updates procedures to ensure compliance with regulations and current practices.
• Assists with audits, loan sales, conversions, mergers, and special projects as needed.
• Ensures compliance with banking industry regulations, employment laws, and organizational policies.
• Assists in collateral management tasks such as collateral releases, payoff quotes, UCC continuations, and terminations.
• Understands and maintains files in accordance with Loan Operations regulations.

Requirements

Strong familiarity with escrow industry concepts, practices, and procedures is expected. Excellent verbal, written, interpersonal, and communication skills are necessary. Detail-oriented and organized with strong analytical abilities and computer proficiency in Bank systems, MS Office Suite, and loan operation programs are also required.