Insurance Escrow Manager (Full Time) - Plano Ops

Prosperity Bank • Plano, TX

106d

About The Position

Responsible for the management of escrowed and non-escrowed taxes and insurance for the Bank and ensuring all policy and procedures are followed which includes any regulatory and internal guidelines.

Requirements

• High School Diploma, GED or equivalent.
• Thorough knowledge of Microsoft Excel and Microsoft Word.
• Ability to maintain and create spreadsheets and customer correspondence.
• Thorough knowledge of how escrow accounts work and how to calculate escrow analysis.
• Thorough knowledge of the different types of insurance perils based upon the collateral of the loans.
• Basic understanding of RESPA and Regulations as it pertains to escrow.
• Thorough knowledge of the flood regulation and the flood insurance requirements based upon the loan type.
• Proficient computer skills.
• Minimum of 3 years' experience working with all types of insurance as it pertains to all consumer and commercial type loans.
• Prior experience with managing teams.

Nice To Haves

• Preferred experience with managing a 3rd party vendor for insurance.

Responsibilities

• Management of a 3rd party vendor that pertains to the monitoring of insurance.
• Manage a team of Escrow Admins, Escrow Specialists and Senior Escrow Specialists directly in multiple physical sites.
• Train new escrow team members and be the Subject Matter Expert for all processes and procedures, specifically on flood insurance questions and issues.
• Calculate and verify amounts on policies that contain coinsurance clauses to ensure the bank is covered in the event of a loss.
• Review construction budgets and determine proper coverage amounts on Builders Risk per the insurance guidelines.
• Assist the lender and the pre-close teams with determining Flood coverage amounts on various structures.
• Ascertain information to finalize flood coverage amounts to align with the flood regulations.
• Assist lenders and admins with overlays of large acreage along with structures to determine what is in or out of a flood zone.
• Assist with elevation certificates sent to FEMA for review.
• Own the flood vendor relationship and be the liaison for the bank.
• Update Flood policies and procedures and obtain approval from compliance.
• Prepare daily, weekly, and monthly reports to monitor insurance to ensure all insurance is paid and tracked timely and accurately.
• Maintain, monitor, and reconcile daily financial transactions.
• Execute all live checks as needed and work with the print vendor on any changes to the check printing.
• Monitor and approve all financial transactions from the escrow team for keyboarding and branch capture.
• Work with Escrow Manager for any core system releases and testing.
• Conduct periodic meetings with all escrow teams together and on a one-on-one basis.
• Write policy and procedures and job aids.
• Follow all compliance and regulatory guidelines and procedures.
• Handle any escalated internal or external customer issues.
• Conduct periodic audits on existing processes.
• Perform all other tasks and duties as assigned.

Benefits

• Monday - Friday: 8:00AM - 5:00PM

What This Job Offers

• Job Type: Full-time
• Industry: Credit Intermediation and Related Activities
• Education Level: High school or GED