Escrow Insurance Specialist

About the role

Cathay Bank – we strive to provide a caring culture that supports your aspirations and success. We believe people are our most valuable asset and we proudly foster growth and development empowering you to achieve your professional goals. We have thrived for 60 years and persevered through many economic cycles due to our team members’ drive and optimism.

Responsibilities

• Maintains insurance expirations to ensure receipt of evidence of renewal or replacement insurance coverage prior to expiration.
• Reviews Insurance Expiration Tracking reports daily.
• Collects evidence of renewals or replacement coverage prior to expiration of the existing coverage.
• Reviews insurance policies for accuracy and adequate coverage.
• Sets up force place fee in our core system for proper billing.
• Ensures disbursement of payments for hazard and flood are paid timely when due to avoid gaps and cancellation of policy.
• Processes incoming new insurance loss requests by properly obtaining appropriate claim information and provide claim package and follow through to completion of the repairs.
• Documents all claim activity to support the outcome of the claim and save documents to the imaging center.
• Reviews various system-generated reports to ensure accuracy of loan system, accounting and maintenance as needed to clear errors.
• Ensures all insurance related documents and correspondence are uploaded to the imaging system.

Qualifications

• Education: High school graduate or equivalent.
• Experience: Minimum 1-2 years in loan servicing with direct experience with escrow and insurance servicing, preferably with knowledge of flood determination and flood insurance review for both single family and multiple buildings and properties.
• Skills: Self-motivated with ability to work independently, prioritize and meet deadlines, and possess excellent follow-through skills. Proven ability to think independently and make recommendations. Good judgment, ability to accept responsibility and handle confidential information. Excellent written and verbal communication skills. Knowledge of basic accounting. Working knowledge of MS Windows, PC spreadsheets and PC word processing. Familiarity with networked computer systems and mainframe.

Other Details

Pay: $23.07 – $28.85 / hour Pay determined based on job-related knowledge, skills, experience, and location. This position may be eligible for a discretionary bonus.

Benefits: Cathay Bank offers its full-time employees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes, coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k).