Oversee the bank’s retail, commercial and flood insurance portfolio. Ensure all insurance operations align with policy, state and federal banking regulations. Responsible for the overall operational integrity of the insurance group, managing and meeting strict regulatory guidelines, providing exceptional internal and external services. The role involves training, coaching, motivating and managing performance of the staff while maintaining a positive team atmosphere. This role is expected to maintain comprehensive knowledge of regulatory requirements, keeping the staff updated on regulatory and program/guidelines changes. Ensure accurate QC and auditing are performed to ensure compliance with established guidelines and regulations.
Essential Duties & Responsibilities:
Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.
- Manage the bank’s overall insurance portfolio to ensure active and adequate policies are in place to protect the banks collateral.
- Obtain and track proper flood insurance coverages on loans secured by real property and located in a special flood hazard area in accordance with Federal Emergency Management Agency (FEMA) guidelines. Verify policies align with federal guidelines, manage force-placed insurance.
- Responsible for analyzing and determining the amount of flood insurance required for new loans and renewal policies in compliance with bank and regulatory requirements.
- Monitor evidence of insurance and initiate force-placed insurance procedures when required in accordance with regulatory guidelines and bank polices. Work with the insurance vendor for ordering and cancelling force place insurance.
- Monitor accounts using the Bank’s core system, including tracking and managing ticklers for insurance renewals and policy updates. Verify insurance expirations to ensure receipt of insurance or replacement insurance coverage prior to expiration.
- Oversee and support regulatory audit exams, assist with OCC reviews, special insurance projects, update procedures per federal change as assigned by internal audit.
- Manage insurance tracking in accordance with policy and procedures consistently within the exception tracking system. Ensure all insurance related documents and correspondence are uploaded to the imaging system.
- Ability to work independently on day-to-day tasks, utilizing prior experience, knowledge, and continuing education. Deliver superior service to internal client partners and external vendors.
- Frequent interactions with RM’s, RA’s, Loan Closers, Vendors - AFR & CPI.
Supervisory Responsibility:
While this position does have direct reports, there is the responsibility of providing direction to multiple parties while achieving shared goals.
Job Type:
This is a full-time exempt position. Typical work hours are Monday through Friday, 8:00am to 5:00pm.
Travel:
No travel is expected for this position.
Working Conditions & Physical Requirements:
This position operates in a professional office environment. This position requires regular sitting, walking, standing, lifting (up to 50 pounds), reading, seeing (including color, peripheral vision, depth perception, and adjusted focus), speaking, hearing, listening, organizing, interpreting data and information, operating office equipment, typing using a computer keyboard and mouse, viewing a computer screen monitor, and use of a telephone. The working environment consists of an indoor and climate-controlled setting most of the time.
Education, Experience & Other Qualifications:
- High School Diploma, GED, or equivalent certification.
- 8+ years of experience managing all categories of insurance in a financial services organization. Proficient and strong knowledge of Flood Insurance Regulations.
- Proven ability to manage, mentor and develop staff in a team environment.
- Skilled in reviewing insurance policies, declarations and mortgagee clauses.Thorough knowledge of calculating the required insurance amount and ensuring the bank’s collateral is protected.
- Strong verbal and written communication skills.
- Demonstrated expertise in effective problem solving and analytical skills with ability to handle and prioritize multiple tasks.
- Demonstrated expertise in coordinating tasks and resources and project requirements by breaking them down into task and engaging multiple internal and external partners to determine appropriate roles and responsibilities.
- Strong attention to detail and good organizational skills.
- Self-motivated with the ability to work independently, meet deadlines, and possess excellent follow-through skills
- Proficient in all Microsoft Office software.
