Insurance & Escrow Supervisor

Overview

The Insurance & Escrow Supervisor is responsible for providing supervision, team leadership, monitoring daily workflow, performing quality and regulatory self checks of work, critical tasks and further departmental demands to ensure timely processing and achieve maximum efficiency.

Principal Duties & Responsibilities:

• Confirms adequacy of insurance coverage and compliance with established policy and regulation requirements.
• Ensures that policies and procedures related to Loan Servicing Insurance, Escrows, Payoffs and Collateral control are strictly adhered to.
• Ensures that the team performs post-closing loan insurance quality reviews for all applicable loan types, including new loans, renewals and modifications.
• Review and evidence the borrower’s insurance policy or policies as applicable, enforceability and coverage period.
• Serves as a liaison and assist bank’s internal and external Audit teams as it pertains to researching and answering questions aligned to Insurance, Escrows Payoff and Collateral (Satisfaction of Mortgage, Releases, UCC Termination/Continuations, Collateral vault, etc).
• Enforces that Satisfaction of Mortgage along with UCC Terminations are filed timely, upon loan payoff.
• As it pertains to UCC Continuations, prior to maturity of UCC, file UCC Continuation to avoid a lapse and impact of Bank’s security priority.
• Acts as liaison between Bank and outsourced Loan Servicers (Lereta, HUB, DMI).
• Validates ongoing upkeep of insurance and tax records on all collateral from loan inception to payoff.
• Substantiates adherence of internal processes; monitors insurance outsourcing and reporting; reviews and evaluates integrity of insurance tracking on Servicer’s System.
• Reviews Insurance Exception Reports generated by outsource Service Provider.
• Authenticates billing and payment of force placed premiums to include, correct posting to loan accounts.
• Oversees escrow disbursements for payment of insurances and taxes.
• Examines daily Loan System reports on forthcoming disbursements, escrow matters and exceptions; disseminates information to affected personnel, as applicable.
• Oversees that the CASE tickets created via Elevate are handled timely and accurately by the responsible Insurance & Escrow Specialist.
• Oversees that the CASE tickets tied to Payoff’s created via Elevate are handled timely and accurately with attention to detail to avoid monetary loss to the bank and/or the client.
• Oversees that Bank’s collateral vault remains current as it pertains to safekeeping of original Promissory Note and Guarantees on all active loans.
• Works with IT on all projects tied to Insurance, Escrow, Payoff, and Collateral as part of ongoing automation.
• Identifies and makes recommendations for the improvement of controls in the overall servicing operation processes and procedures.
• Ensures compliance with all regulations governing the banking industry, as well as employment and labor laws, agency guidelines and organization policies.
• Ensures that support staff members meet compliance and disclosure requirements and are cross trained in all.
• May perform other duties and responsibilities as needed and requested by Bank Management.

Qualifications

• 5-7 years Experience in all aspects of Loan Servicing (Operations, Escrows [insurance and taxes].
• Extensive knowledge of residential and commercial loan documentation a plus.
• Extensive knowledge of insurance requirements and terminology required. Required
• Ability to supervise/lead a team and provide coaching and direction to team members.
• Dependable with exceptional organizational skills and ability to balance multiple time-sensitive tasks at various levels of completion.
• Excellent problem-solving and reasoning skills.
• Proficiency in PC skills (Word, Excel, Outlook) and use of office machines.
• Outstanding verbal and written communication.
• Detail oriented, dynamic, self-motivated, with ability to interact with all levels of the organization and lead by example.

Education

• High School Diploma or GED equivalent Required
• Bachelor's Degree in Business Administration or related experience Preferred

Special Instructions to Candidates

• Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.
• Please view Equal Employment Opportunity Posters provided by OFCCP here.
• The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
• Reasonable accommodation may be made to assist individuals with disabilities to complete the online application process. Please contact our Human Resources Department at 305-577-7680 or by e-mail at employment@citynational.com.