Escrow Specialist

Republic Bank Careers•Louisville, KY

9d•Onsite

About The Position

The Escrow Specialist is accountable for providing the highest level of customer service to internal and external customers with operational integrity. Primary responsibilities include procurement and payment of assigned lender-paid escrowed items, including Homeowners Insurance and Property Taxes prior to their due date, avoiding all penalties. Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time.

Requirements

Demonstrated proficiency in Microsoft Office products (Outlook, Word, Excel, and PowerPoint) PDF and internet applications.
Effective interpersonal, verbal and written communications skills.
Demonstrates basic math and/or accounting principles as it relates to Loan Servicing.
Requires ability to work independently and as a team, under pressure and deadlines.
Ability to problem solve and evaluates a process for both potential risk and efficiency improvement.
Regularly required to sit, use hands to finger, handle, or feel; and talk or hear.
Frequently required to stand or walk.
Occasionally required to reach with hands and arms.
Must occasionally lift and/or move 10 pounds.
Specific vision abilities required by this position include close vision, and distance vision.
Stay abreast of new developments, best practices, and statutory and regulatory changes.

Nice To Haves

Minimum 1-year industry experience performing escrow duties preferred.
Minimum 1-year previous experience in a Loan Servicing or Financial Operations environment preferred.

Responsibilities

Contact clients, insurance companies and agents, and taxing authorities for escrowed insurance and tax bills.
Respond in a timely manner to miscellaneous tax and insurance inquiries from clients and bank personnel.
Forward correspondence, insurance documents, tax documents, etc. to the Imaging department and process returned mail.
Receive, open, process, and distribute incoming and outgoing mail and checks.
Sign off on daily, weekly, monthly, and yearly work to ensure proper team monitoring.
Manage daily reports, disbursements, distribution, and wiring of taxes as reported by 3rd party vendor. This includes daily and weekly reporting, registering and un-registering of parcels through the vendor’s online portal. Ensure all parcels are registered and paid in a timely manner to avoid late penalties.
Validate new loan data in core system by comparing said data to Closing Disclosures, Initial Escrow Disclosures, Titles, and various other closing documents.
Monitor Aircraft and Marine insurance via monthly internal reporting, mailing letters to clients and agents as necessary.
Process incoming property damage claims, order inspections when necessary, and monitor held claim funds.
Cancel flood certificates and process various monthly departmental reports.
Assist with systems testing to validate data, identifying gaps or errors.
Monitor safeguards to ensure the integrity of clients’ personal and financial data.
Progress to Escrow Level II role, by successful completion of necessary training and testing.
Maintain a working knowledge of compliance requirements affecting your position and area of responsibilities and actively learn new regulations and assist in the implementation, if required.
Model and foster behaviors that support the Bank’s values and corporate culture creating an atmosphere of trust, cooperation, accountability, and dedication to the organization.
Willingly perform all other duties and projects as assigned.