Position: Insurance Processing Specialist
Location: Hillsboro, OH
Nature & Scope: The Insurance Processing Specialist will work with the Escrow Insurance Administrator to ensure insurance processing is completed in a satisfactory manner, according to Bank policy, Investor requirements and Federal/State laws. Responsible for the tracking, maintaining, reconcilement, and payment of all types of insurance, to include hazard, flood, auto, boat, homeowner’s, force placed insurance, private mortgage insurance (PMI) or other insurance as required. Position is required to pay all insurance premiums in a timely manner, verify adequate insurance coverage is in place based on collateral value and to keep the servicing system updated with current insurance information. Responsible for assisting with the monthly reconcilement of the PMI Insurance billing received from various PMI companies. Ensure PMI is terminated according to state and/or Federal Law, assisting customers who are seeking to cancel their PMI insurance and mailing all PMI disclosure notices in a timely manner. This position also provides backup support for Escrow Administrator/Taxes/AML. To provide Customer Service support for inquiries by internal database, phone, mail, faxes and email. Also, to assist in the data verification of new loan mortgage/installment set up sheets.
- Disburse all escrowed insurance premiums when due, track all loans to make sure the insurance is current and update on the system when insurance information changes. Insure loans that are non-escrowed but delinquent on insurance are setup through ISIS with Force Placed Insurance and analyzed. Tracking of all types of insurance and maintaining the servicing system to keep up to date. This includes auto, homeowners, flood, etc. process all daily.
- Monitor all incoming insurance policies to insure proper coverage.
- Responsible to insure proper termination, disclosure mailings and reconcilement of PMI loans done daily. Also, responsible to maintain and work the expired weekly insurance list. Add new insurance companies to the TCBS system as needed. Responsible for the maturity notices being mailed and informing the loan officer of such .
- Customer Service inquires via telephone and in person. Also, responsible for various internal database requests and to respond within required benchmarks.
- All other duties as assigned.
- Preferred Associate in Accounting or Business
- Preferred two years customer service banking experience
- Good working knowledge and experience associated with various insurance types and coverages for residential, commercial and consumer loans
- Knowledgeable with the compliance and investor requirements as it relates to insurance coverage for loans
- Must be proficient with Excel and Microsoft Word
- Strong communication and customer service skills and the ability to multitask
- Must be able to work independently and have strong analytical skills
If you would like to apply for this position, please submit your resume to email@example.com.