Collateral Management Senior Tax & Insurance Associate

About the Role

The Collateral Management Senior Tax and Insurance Associate supports the Collateral Management Supervisor in quality control, leading efforts to monitor that all escrowed items are tracked and paid in a timely manner. This role ensures non-escrowed accounts are tracked to protect the Bank’s interest and processed according to Bank and investor guidelines. The Associate assists internal and external customers with tax and insurance inquiries and supports projects as needed.

Responsibilities

• Assists team members with internal and external inquiries regarding the status of real estate tax and insurance records.
• Coaches the team to meet and exceed service levels, ensuring operational excellence and an exceptional customer experience.
• Monitors and reviews processes to ensure real estate taxes and insurance premiums are paid on time.
• Assists with the annual analysis of escrow accounts to ensure adequate payments from borrowers for tax and insurance billings.
• Reviews collateral and escrow data maintained in the core system and by third-party vendors for completeness.
• Monitors third-party insurance and tax vendor processes to ensure compliance with performance standards and regulatory requirements.
• Performs reconciliations between vendor records and the core system to identify and resolve discrepancies.
• Reviews department processes for efficiency and ensures procedures reflect current practices.
• Maintains current knowledge of related systems, including core banking, tax tracking, insurance tracking, loan origination, and collateral tracking systems.
• Updates procedures to ensure compliance with regulations and alignment with current practices.
• Assists the Collateral Management Supervisor with gathering information for audits and loan sales.
• Ensures compliance with banking industry regulations, employment and labor laws, agency guidelines, and organizational policies.
• Performs cross-training duties in other areas of collateral management, including collateral releases, payoff quotes, UCC continuations, and terminations.
• Understands compliance requirements for Loan Operations to maintain files according to regulations.
• Assists with conversions, mergers, and other special projects.

Requirements

• Strong familiarity with concepts, practices, and procedures within the escrow industry.
• Excellent verbal, written, interpersonal, and communication skills.
• Detail-oriented with strong organizational skills.
• Ability to manage multiple assignments simultaneously and meet deadlines.
• Proficiency in Bank systems, MS Office Suite, and loan operation programs.
• Strong analytical ability with a superior aptitude for figures.