Insurance Servicing Associate - Consumer Loan Operations

Summary

Responsible to review and monitor all insurance tracking on bank collateral on existing loans through payoff. Completes forced-placed insurance coverage and transactions as needed. Works with third party vendor for insurance monitoring. Provides internal and external customer support.

Essential Duties And Responsibilities

• Ensures accurate and timely processing of insurance monitoring with third party vendor as well as insurance policies tracked in-house.
• Learns new systems and processing in order to streamline and scale work.
• Demonstrates a willingness to change processes and technological capabilities.
• Collaborates and cooperates with peers and leaders effectively.
• Performs work within customer service level expectations and key vendor processing timelines.
• Performs daily work as defined with accuracy.
• Receives insurance bills and makes timely payment to avoid cancellations and reinstatements.
• Works with third party insurance monitoring company on loans monitored by vendor.
• Receives hazard insurance cancellations and reinstatements, and insurance policies on in-house tracked loans through mail and email, prioritizes workload by assessment of risk and deadlines.
• Maintains hazard insurance and non-real estate collateral insurance (commercial vehicles, inventory, etc.) by reviewing the lien on the policy and information in the core banking system.
• Reviews insurance policies for verification of collateral.
• Updates insurance policy details on the loan file in the core banking system.
• Documents notes on insurance policy and uploads documents to electronic filing system.
• Contacts insurance companies to confirm policy status.
• Sends notices within established timeframe to meet regulatory requirements.
• Completes forced place premium process to include advancing money to pay premium, balancing general ledger entry and calculating loan payment changes.
• Researches questions or issues through internal and external customer support, including acting as a liaison with insurance tracking vendors.

Other Requirements

• Banking is a highly regulated industry and you will be expected to acquire and maintain a proficiency in the Bank's policies and procedures, and adhere to all laws, rules and regulations that are applicable to your conduct and the work you will be performing.
• You will also be expected to complete all assigned compliance training in a timely manner.
• Professional demeanor in appearance, interpersonal relations, work ethic and attitude.
• Possess clear, concise, effective written and oral communication skills to effectively express thoughts, ideas and concepts to management, bank employees and bank customers in a collaborative and solutions-oriented manner.
• Able to interact effectively within team and with customers they service.
• Strong organizational and prioritization skills.
• Team player with a positive outlook.
• Willingness to provide a level of service, which will clearly differentiate us from our competitors.
• Able to interact with outside customers when needed.
• Ability to provide superior service to internal departments.
• Professional demeanor in appearance, interpersonal relations, work ethic and attitude.
• Possess clear, concise, effective written and oral communication skills to effectively express thoughts, ideas and concepts to management, bank employees and bank customers in a collaborative and solutions oriented manner.
• Able to be collaborative with co-workers and employees.
• Able to multi-task and function effectively under stressful conditions.
• Able to work in a team environment as well as independently.
• Able to perform detailed work.
• Able to maintain confidentiality.
• Able to handle workload pressure and deadlines.
• Able to learn Microsoft programs including Word, Excel, and Access.
• Able to understand and utilize banking industry technology.

High school diploma or general education degree (GED) required.