Commercial Insurance Specialist
About The Position
Under the direction of the department manager, the Commercial Insurance Specialist acts in a timely, efficient, and responsible manner to protect investors' interests in mortgages being serviced. The role handles insurance matters in accordance with individual investor guides, Pooling and Servicing Agreements, applicable law, and mortgage documents. For an assigned portfolio, the specialist reviews commercial property and liability insurance policies, operating statements, and property appraisals to assess compliance with loan documents, investor requirements, and internal policies. The role maintains insurance information in the servicing system, monitors insurance premium disbursements and coverage, and ensures non-escrowed loans have adequate insurance. It also oversees required force-placed coverage and administers casualty losses, including reviewing loss documentation, arranging inspections, and processing disbursement requests. The specialist communicates with borrowers, insurance agents, insurance companies, and internal departments to resolve insurance-related issues. Additional duties include responding to customer inquiries, assisting with servicing acquisitions, training new employees, supporting the department supervisor, and serving as a resource to colleagues and customers. This is a hybrid position based at 11501 Outlook Street, Overland Park, Kansas. The role is eligible for a base hourly rate of $20.67–$31.25, with potential incentive compensation. The posting references a benefits list but does not enumerate the benefits.
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.
- Efficiency using word-processing and spreadsheet software, such as 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 commercial property and liability insurance policies, operating statements, and property appraisals for 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 disbursement of insurance premiums for commercial mortgage loans with escrow funds, as well as force-placed insurance premiums.
- Monitor and collect documentation to determine whether non-escrowed loans have adequate insurance in force.
- Initiate and oversee required force-placed insurance coverage when borrowers do not act.
- Oversee and administer casualty losses on commercial properties, including reviewing loss affidavits and engineering reports, arranging property inspections, and processing disbursement requests from loss proceeds.
- Communicate with borrowers, insurance agents, and insurance companies to resolve insurance-related issues or discrepancies.
- Work with internal departments to resolve insurance-related issues or discrepancies.
- Administer customer inquiries and requests relating to commercial property insurance.
- Assist with servicing acquisition-related tasks.
- Train new employees.
- Assist the department supervisor with other assigned duties.
- Act as a resource to department members and internal and external customers.
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Education Level
No Education Listed
