Commercial Insurance Specialist

KeyBank • Overland Park, KS

4d • Hybrid

About The Position

Under the direction of the department manager, the Commercial Insurance Specialist is responsible for protecting the interests of investors in mortgages serviced for them by handling insurance matters. The work is performed within the parameters of individual investor guides, Pooling and Servicing Agreements, applicable law, and mortgage documents.

The role manages insurance compliance and administration for an assigned portfolio of commercial loans, including reviewing coverage, maintaining servicing-system data, monitoring premiums and documentation, managing forced-place coverage, and administering casualty losses. The Specialist communicates with borrowers, insurance agents, insurance companies, and internal departments to resolve insurance issues and discrepancies.

The position also handles customer inquiries, supports servicing acquisition tasks, trains new employees, and assists the department supervisor as assigned. The work location category is Hybrid (2+ days).

Requirements

• At least two years of broad-based commercial property insurance or related experience, or a four-year college degree.
• Experience reviewing and interpreting legal documents.
• Extensive knowledge of various types of commercial property insurance policies.
• Excellent verbal and written communication skills.

Nice To Haves

• Commercial loan servicing experience.
• A four-year college degree.
• Commercial insurance agency or insurance carrier work experience.
• Experience with the McCracken/Strategy loan servicing system.
• Proficiency with word-processing and spreadsheet software, such as Microsoft Word and Excel.
• Ability to multitask effectively.
• Ability to work in a deadline-driven environment and prioritize responsibilities.
• Ability to work in a team environment and motivate others.
• Ability to manage change and foster teamwork.
• Strong interpersonal skills and professional conduct.

Responsibilities

• Review, analyze, and interpret property and liability insurance policies, operating statements, and property appraisals for commercial loans to ensure compliance with loan documents, investor requirements, and internal policies and procedures.
• Update servicing-system data to reflect current insurance policy effective dates and coverage amounts.
• Monitor and manage payment of insurance premiums for commercial mortgage loans with escrow funds, as well as any force-placed insurance premiums.
• Monitor and collect documentation to determine whether non-escrowed loans have adequate insurance policies in force.
• Initiate and oversee required force-placed insurance coverage when borrowers fail to act.
• Oversee and administer casualty losses on commercial properties, including assessing loss severity through loss affidavits and engineering reports, arranging property inspections, and processing disbursement requests from loss proceeds.
• Communicate verbally or in writing with borrowers, insurance agents, and insurance companies to resolve insurance-related issues or discrepancies.
• Work with internal departments as needed to resolve insurance-related issues or discrepancies.
• Administer customer inquiries and requests related to commercial property insurance.
• Assist with servicing acquisition-related tasks.
• Train new employees.
• Assist the department supervisor with other duties as assigned.
• Serve as a resource to other department members and internal and external customers.
• Demonstrate Key’s Values and abide by Key’s Code of Conduct.

Benefits

• Incentive compensation, which may include production, commission, and/or discretionary incentives.
• The position is eligible for company benefits; specific benefits are not listed in the posting.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level