Insurance Administrator Senior Commercial Real Estate

Mechanics Bank • Walnut Creek, CA

1d • $95,000 - $145,000

About The Position

Mechanics Bank is currently searching for a Insurance Administrator Senior Commercial Real Estate to join our team. Here at Mechanics Bank, we value connection, partnership, long term relationships and working together in person. Role is responsible to administer CRE’s Insurance Policy and Procedures related to the servicing of Mechanics Bank $3.6B portfolio of 900+/- Commercial Real Estate loans. Loan portfolio includes direct and brokerage originated loans, loans held for sale, loans serviced for Mechanics Bank balance sheet and loans serviced for third party investors, including Fannie Mae Multifamily. Position directly and frequently interacts with a wide range of parties, including income property borrowers, insurance and title companies, investors, auditors, other lenders and multiple vendors. Position supports CRE Origination and Asset Management areas, including providing training in insurance industry related topics.

Requirements

• High school diploma
• Minimum of 10 years' experience in commercial real estate lending/servicing and/or commercial Property and casualty insurance.
• Advanced Microsoft Excel experience.
• Strong understanding of lender insurance requirements for all commercial property types.
• Ability to read and interpret commercial loan documents.
• Excellent verbal and written communication skills, including the ability to effectively manage customer phone/email inquiries, including compose professional correspondence.
• Possess good judgment, professional image, and the ability to accept responsibility and handle confidential information.
• Demonstrate strong attention to detail and high degree of accuracy.
• Demonstrate ability to work cooperatively with multiple team members and variable project deadlines.

Nice To Haves

• Bachelors Degree with an emphasis on risk management, commercial insurance underwriting or account management preferred
• Prior experience with networked loan servicing platforms, Precision LM, FIS, or Backshop® preferred.
• Prior commercial insurance underwriting experience.
• Prior experience with developing procedures and conducting training.
• Prior experience with audits for insurance compliance.
• Prior experience with electronic document imaging platforms.
• Prior experience with networked loan servicing platforms, Precision LM, FIS, or Backshop® preferred.
• Prior commercial insurance underwriting experience.
• Prior experience with developing procedures and conducting training.
• Prior experience with audits for insurance compliance.

Responsibilities

• Periodically review and revise CRE Insurance Requirements for all CRE offered loan programs.
• Monitor and remain current on regulatory and investor insurance requirements, including but not limited to Fannie Mae Multifamily insurance guidelines, Special Flood Hazard Area designations, National Flood Insurance Programs, and lender forced placed insurance (FPI) programs.
• Develop and implement training program for CRE Loan Servicers, Asset Managers, Underwriters and Closers regarding insurance related materials.
• Oversee third party consultants engaged to review insurance policies at loan origination for compliance at closing, policy change and renewal, including reporting, quality controls, vendor compliance and periodic audit in accordance with HSB vendor management protocols.
• Manage HSB contracts with flood zone certification vendors, including period review, quality controls and audit as needed.
• Directly manage loan specific insurance related issues, including coverage exceptions, waivers, flood zone discrepancies, and FPI coverage matters.
• Develop and maintain written procedures for the effective tracking of insurance related data, including policy coverages, exceptions, renewals and expiration dates.
• Develop and maintain written procedures regarding the insurance escrow analysis process, including establishing periodic changes to annual insurance premium escalation amounts as appropriate.
• Work closely with CRE Loan Servicers, Closers and Underwriters to ensure Insurance standards are maintained, including periodic audit of files.
• Assist Asset Managers in insurance claim related activities as needed.
• Perform other related duties as assigned or requested.

Benefits

• Medical, prescription, dental, and vision coverage for employees and their eligible family members
• Employer paid Employee Assistance Program, Life Insurance, AD&D, and Disability benefits
• Health Savings Account with employer contribution
• Healthcare and Dependent Care Flexible Spending Accounts and Commuter/Parking Benefit
• 401(k) and Roth 401(k) with company contribution
• 529 Education Savings plan, Tuition Reimbursement Program and Student Loan Assistance Program
• Supplemental Health plans, Voluntary Legal and Identity Theft Services
• 11 paid holidays, paid Sick days (accrual of one hour for every 30 hours worked), up to 25 paid vacation days, and 16 hours of paid volunteer time throughout the calendar year
• Free personal checking and savings account; Discounted rates on primary residence loan with $0 origination fees (restrictions apply)

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED
• Number of Employees: 1,001-5,000 employees