Collateral Management Tax & Insurance Associate

Braemar Hotels & Resorts•Red Bank, NJ

About The Position

The Collateral Management Tax & Insurance Associate performs duties related to real estate taxes and property and flood insurance requirements for commercial loans. The role includes making timely tax and insurance payments for escrowed accounts, tracking taxes and insurance for non-escrowed loan accounts, and maintaining collateral and escrow tracking data in the loan system. The associate responds to customer inquiries, monitors and processes tax and insurance payments, manages escrow accounts, maintains data and records, supports audits and projects, and helps ensure compliance with banking regulations and organizational policies. The position works in an office environment and may require travel throughout the Bank footprint.

Requirements

High school diploma.
2–3 years of banking experience.
Knowledge of loan policies and processes.
Excellent verbal, written, and interpersonal skills.
Proficiency in the MS Office Suite.
Excellent organizational and time-management skills, strong attention to detail, and ability to multitask.
Ability to operate a computer.
Ability to communicate to exchange simple to complex information with individuals and groups.
Ability to travel throughout the Bank footprint.

Nice To Haves

Banking experience in loan servicing is preferred.

Responsibilities

Respond to internal and external customer inquiries regarding taxes, insurance, escrow analysis, and collateral matters.
Monitor third-party vendor billing reports to ensure real estate taxes and insurance premiums are paid on time.
Process tax and insurance disbursements from escrow accounts and prepare and reconcile remittances in accordance with policies and procedures.
Review, prove, and submit end-of-day totals for department settlement.
Monitor delinquent tax, water, and sewer bills and respond to possible tax sale liens.
Review escrowed and non-escrowed loan tracking to ensure hazard and flood insurance are handled in compliance with regulations, policies, and procedures.
Assist with annual analysis of escrow accounts to ensure borrower payments are adequate to satisfy tax and insurance billings.
Process interim escrow analyses as needed.
Process requests to convert accounts between escrow and non-escrow status.
Maintain collateral and escrow data in the core banking system and third-party vendor systems used by the Collateral Management team.
Process insurance mail.
Scan daily work into the archival system.
Maintain current knowledge of related systems, including the Core Banking System, Loan Originations, Collateral Tracking, Tax Tracking, and Insurance Services.
Cross-train to assist in other collateral management areas, including collateral releases, payoff quotes, and UCC terminations.
Participate in conversions, mergers, and other projects as assigned by the Collateral Management Manager.
Review department processes for optimal efficiency.
Review and update procedures to ensure regulatory compliance and alignment with current practices.
Assist with gathering information for audits and loan sales activity as requested.
Understand and comply with banking regulations, agency guidelines, organizational policies, and Loan Servicing Operations file-maintenance requirements.