Analyst 1 - Insurance

Essential Duties and Responsibilities:

• Review insurance documentation on newly booked loans and resolve missing or inconsistent information with the production team.
• Contact agents and borrowers as needed to obtain insurance renewal documents and invoices.
• Review insurance requirements for the loan – loan document, closing and/or investor requirements.
• Review insurance documentation received in comparison to insurance requirements to determine insurance compliance.
• Determine adequacy of insurance coverage’s on an annual basis through a details compliance review. 
• Contact insurance agents, borrowers, production team members and investors regarding non-compliant insurance resolution.
• Develop and maintain strong relationships with clients, insurance agents, borrowers, production team members.
• Utilize and work with vendors as needed.
• Review, draft and submit waivers to investors are required including documentation and submission to lender’s systems.
• Manage outsourced vendor communications with regards to letters for annual insurance renewals.
• Disburse insurance payments – invoices and reimbursements to insurance agents and borrowers.
• Manage loss draft/claims process from beginning to completion – working with borrowers, adjusters, insurance agents, Master Servicers, Lenders/Investors and other interested parties.
• Manage and force place insurance as required by the loan documents and/or investor to assure compliance and mitigation of risk.
• Assist with special projects and additional duties as assigned by management.
• Initiates and participates in projects, system enhancement design and testing; documents procedures

 Core Competencies:

• Analytical skills; ability to interpret, resolve, and understand implications of complex issues
• Accuracy – ensures that data input is correct and input appropriately
• Ability to work independently, make decisions as appropriate, and advise on appropriate course of action
• Flexibility - ability to multitask and to shift priorities
• Demonstrated ability to organize & prioritize projects; complete multiple tasks on schedule
• Advanced computer skills, including MS Excel and Word.
• Ability to identify, implement and promote process improvements in day to day duties
• Customer Service Skills – ability to manage and respond to customer requests
• Strong team, leadership, negotiation and interpersonal skills
• Strong communication skills – written and spoken

 Qualifications:

• Bachelor’s Degree or equivalent experience.
• 0-2 years related work experience, preferably in mortgage banking or financial services environment
• 0-2 years insurance experience and/or commercial loan servicing.