Insurance Administrator

Customers Bank•Melville, NY

1d•$70,000 - $80,000

About The Position

The Insurance Administrator reviews and tracks insurance coverage on collateral securing the bank’s loans, both before and after closing. The role performs flood zone determinations, reviews NFIP and private flood insurance, and oversees third-party vendor performance. The position works with internal and external stakeholders to ensure coverage meets loan agreements, bank policies, and applicable regulatory requirements. It also supports reporting, compliance, audits, process improvements, and timely loan closings.

Requirements

At least 2 years of experience in insurance tracking, loan administration, credit administration, or a related banking or insurance function.
Working knowledge of ACORD forms and commercial and residential property insurance concepts.
Working knowledge of flood insurance regulations, including NFIP requirements and private flood insurance standards.
Exceptional attention to detail and accuracy.
Strong written and verbal communication skills, with the ability to work effectively with internal and external stakeholders.
Strong organizational skills and the ability to manage multiple priorities and deadlines.
Proficiency in Microsoft Office, especially Excel.
Must be legally eligible to work in the United States without sponsorship, now or in the future.

Nice To Haves

Bachelor’s degree in business, finance, risk management, or a related field.
Experience with insurance tracking platforms and loan systems.
Experience overseeing or performing quality control on third-party vendors.
Experience in a regulated financial institution.
Insurance or flood-related certification, such as NFIP training, ASFPM CFM, or similar.
Familiarity with AI and automation tools that support productivity, workflow efficiency, and client engagement.

Responsibilities

Review pre-close and post-close insurance documentation to confirm coverage meets loan agreement and bank policy requirements, including coverage types, limits, deductibles, named insureds, mortgagee or lender’s loss payable clauses, and additional insured provisions.
Review ACORD forms, including ACORD 25, 27, and 28, and supporting policy documents for accuracy and completeness.
Identify insurance deficiencies, expirations, lapses, and non-compliance, and drive them to resolution within required timeframes.
Track policy renewals and confirm continuous coverage throughout the life of each loan.
Order and run flood zone determinations on collateral properties and review results for accuracy, including property address, zone designation, and NFIP community participation status.
Review NFIP and private flood insurance policies and confirm coverage amounts meet regulatory requirements.
Evaluate private flood policies for compliance with applicable regulatory criteria.
Ensure timely and accurate delivery of flood notices to borrowers and maintain documentation of delivery.
Monitor map changes, determination updates, and life-of-loan flood zone changes, and take appropriate follow-up action.
Manage force-placed flood insurance processes in accordance with regulatory requirements and bank policy.
Serve as the day-to-day point of contact for insurance tracking and flood determination vendors.
Conduct ongoing quality control reviews of vendor processes, determinations, and insurance reviews for accuracy, timeliness, and adherence to bank standards.
Document and escalate vendor errors, trends, and service issues, and track corrective actions to completion.
Support periodic vendor performance reviews and due diligence efforts.
Reconcile vendor and internal reports to ensure the insurance tracking system contains accurate and current data.
Research and resolve exceptions, discrepancies, and outstanding items.
Prepare and distribute exception, expiration, and status reports to management and relevant business partners.
Maintain accurate, audit-ready records within bank systems.
Communicate with relationship managers, borrowers, insurance agents and brokers, attorneys, and other stakeholders to obtain insurance revisions, endorsements, renewals, and updated ACORD certificates.
Provide clear, professional guidance on insurance requirements and how to cure deficiencies.
Partner with Loan Operations, Credit, Compliance, Legal, and Closing teams to support timely loan closings and ongoing portfolio compliance.
Support compliance with federal flood insurance requirements, applicable regulatory guidance, and internal policies and procedures.
Assist with internal audits, regulatory examinations, and compliance testing by providing documentation and responding to inquiries.
Identify process improvements and recommend enhancements to workflows, checklists, and controls.
Assist with developing and updating procedures, job aids, and training materials.
Perform other duties as assigned.