Loan Insurance Specialist

CB&S Bank•Russellville, AL

About The Position

GENERAL FUNCTION: Key duties include verifying flood insurance coverage on loans, processing force-placed insurance, providing customer service, requiring knowledge of the bank's insurance policies and procedures and banking regulations. MAJOR DUTIES AND RESPONSIBILITIES: Collateral Protection: Monitor insurance coverage on loans to ensure compliance with bank policies and regulations, preventing uninsured losses. Force-Placed Insurance: Handle the placement and cancellation of lender-placed insurance policies, including premium processing. Support: Advise loan officers and support personnel on flood, hazard, builders' risk, and personal property insurance questions. Train new employees on flood procedures. Document Processing: Review, verify, and maintain records of insurance certificates, policies, and renewals. Review and approve all flood insurance prior to loan closings. Vendor Liaison: Act as a liaison between the bank, borrowers, and third-party insurance tracking vendors. Communicate with the insurance company directly if needed. Technical Knowledge: Understanding of hazard insurance, flood insurance, builders risk insurance, personal property insurance, and lender-placed insurance regulations. Flood Insurance: Keep up with all flood regulations, review FEMA sites for updates, review LOMA applications, review Compliance Flood Reviews and see that all findings are addressed and corrected. Procedures: Maintain all flood procedures and review quarterly verifying they are up to date. ADDITIONAL RESPONSIBLITIES: Balance the flood insurance demand deposit account Handle flood and other insurance reports

Requirements

High school graduate or equivalent.
Minimum of one year flood insurance or loan operations experience.
Proven knowledge of loan policies and procedures.
Intimate knowledge of Insurance and Flood Insurance.
Excellent organizational skills and communication skills, both verbal and written.
Demonstrated ability to interact with customers and employees and listen effectively.
Demonstrated ability to adapt to and use other PC based software packages.
Ability to perform repetitive motion tasks and tasks using only fingers.
Ability to sit for extended periods of time.
Ability to transmit information in written form.
Ability to work in small areas.
Performs all areas of responsibilities so they are completed in a timely, accurate, and thorough manner.
Acceptable attendance and reporting to work in a timely manner.
Maintains positive work environment with co-workers, vendors, and customers.
Requires ability to work well with others.
Must be alert in all job functions.
Conducts customer relations in a manner that will enhance the overall marketing effort of the bank.
Must be courteous and respectful of all customers and employees.
When greeting someone, we will stand, offer our hand, and call them by name.
We will treat co-workers, peers, and vendors with the same degree of respect and consideration we give our customers and expect for ourselves.
All employees are expected to conduct themselves in a professional manner, which is conducive to the effective operation of the Bank.
Must follow all company policies and procedures.
Ability to maintain matters of a highly confidential nature.
Honesty must be an essential ingredient in all matters.
Attempts to return all phone calls the same day they are received.

Responsibilities

Monitor insurance coverage on loans to ensure compliance with bank policies and regulations, preventing uninsured losses.
Handle the placement and cancellation of lender-placed insurance policies, including premium processing.
Advise loan officers and support personnel on flood, hazard, builders' risk, and personal property insurance questions.
Train new employees on flood procedures.
Review, verify, and maintain records of insurance certificates, policies, and renewals.
Review and approve all flood insurance prior to loan closings.
Act as a liaison between the bank, borrowers, and third-party insurance tracking vendors.
Communicate with the insurance company directly if needed.
Keep up with all flood regulations, review FEMA sites for updates, review LOMA applications, review Compliance Flood Reviews and see that all findings are addressed and corrected.
Maintain all flood procedures and review quarterly verifying they are up to date.
Balance the flood insurance demand deposit account
Handle flood and other insurance reports