Commercial Flood Risk & Collateral Servicing

Duties And Responsibilities

• Due diligence required for FDPA (Flood Disaster Protection Act) compliance for all transactions requiring special handling
• Life of Loan monitoring processes related to Lender Placed Insurance (LPI) and Policy Renewals
• Interfaces with Flood Vendors, Line of Business (LOB) partners, Asset Managers, insurance agents, stakeholders to drive completion and resolution of file analysis
• Processing Insurance Policies for all accounts with a balance in excess of $250,000, UCCs, Vehicle Titles, Cash Collateral, other collateral as requested
• Exception Clearing and Imaging of Files
• Communicate with Flood Vendors, LOB partners, Asset Managers, insurance agents, and stakeholders to drive completion and resolution of file analysis
• Perform all analysis and execution of the most complex transactions related to regulated pre-close approval, and Life of Loan (LOL) servicing requirements, including identification of Flood eligible collateral
• Lead and contribute to the oversight of all aspects of due diligence performed for compliance, and performing customer, loan and regulatory due diligence needed at each stage of the Life of Loan process
• Ensure compliance with all bank policies, procedures, and regulatory requirements
• Manage complex portfolio exposure related to the FDPA (Flood Disaster Protection Act) program to include the identification, analysis, and risk mitigation in support of bank Flood policies, programs, and processes
• Perform qualitative or quantitative analysis to minimize the possibility of loss and the potential impact for a highly regulated portfolio
• Develop recommendations for changes and/or risk mitigation opportunities to reduce or eliminate policy exceptions
• Ensure portfolios are maintained to highest standard of regulatory compliance, including updating the System of record to reflect lender placement, should that occur
• Provide guidance, assistance, and knowledge support to other team members
• Ensure all Life of Loan activities and processes (policies, letters, notices, and coverage amount) are completed, packaged and the full file is submitted for the final comprehensive quality regulatory review
• Collaborate with Compliance and Risk Management regarding loan level scenarios related to policy and procedure interpretation to ensure compliance
• Proactively escalate issues and take ownership of resolution path
• Engage with the LOB partners, Asset Managers, Flood vendors, and stakeholders to drive completion and resolution of file analysis
• Engage in ongoing feedback loop for defect resolution
• Support training needs of other team members and employees and keep current on own training requirements
• Review and process UCCs received daily
• Image and file all incoming documents and files
• Process UCC continuations, amendments, and terminations as needed
• Track name changes on UCCs and notify lenders when received
• Process insurance policies received daily
• Review reports weekly to ensure accounts have current insurance coverage
• Process Vehicle Titles for name transfers and liens and track for receipt
• Second review of Mortgage Releases
• Imaging UCC, Insurance documents, and loan files when needed
• Clearing collateral exceptions as needed
• Process Paid Outs and ensure the process is completed in a timely manner

Qualifications

• High school diploma or equivalent
• Two (2) or more years of related or similar experience
• Basic knowledge of commercial and consumer loan documentation and related regulations
• Experience working with Microsoft Outlook, Word and Excel