Loan Servicing Insurance Specialist III

PEOPLES BANK MASTER•Newton, NC

1d•Onsite

About The Position

This position is responsible for managing insurance policies related to loans, including collateral and flood insurance. The role involves reviewing, tracking, and maintaining policy information, processing insurance disbursements, and handling policy expirations, cancellations, and renewals. The specialist will act as a liaison between the bank, insurance agents, and borrowers, and will be involved in preparing and reviewing insurance documentation for imaging. Key responsibilities also include monthly expired insurance reporting, coordinating the force-placed insurance process, maintaining service level standards, and ensuring exceptional customer service. The role requires adherence to internal loan policies, procedures, and compliance regulations. Additionally, the specialist will contribute to updating department operating policies, assist with audits and examinations, and participate in Disaster Recovery efforts related to insurance servicing.

Requirements

A high school diploma or equivalent is required.
2 or more years’ experience in insurance field/environment
Proficiency with Microsoft 365 applications, including Word, Excel, Outlook, and Teams
Ability to enter, update, retrieve and verify information in computer systems.
Familiarity with electronic document management, imaging and file storage
Ability to navigate web-based applications and internal systems
Basic spreadsheet skills, including data entry, sorting, filtering, and simple formulas
Ability to compose professional emails and correspondence
Basic trouble-shooting skills for common software, printer, scanner, and login issues
Strong attention to detail and accuracy when reviewing insurance documents, loan records, and payment information
Effective verbal and written communication skills with internal and external customers
Strong organizational and time-management skills, with the ability to prioritize multiple tasks and meet established deadlines
Sound judgment, analytical thinking, and problem-solving skills
Ability to work independently while collaborating effectively with team members and other departments
Adaptability and willingness to learn new systems, procedures, and regulatory requirements
Professionalism, dependability, discretion, and a commitment to maintaining confidentiality
Customer-focused approach with patience, tact, and courteous service

Nice To Haves

Associates degree from a two-year college in business-related field
Thorough understanding of collateral and flood insurance coverage

Responsibilities

Reviewing, tracking and maintaining all collateral and flood insurance policies on the system for new and existing loans
Preparing insurance disbursements/payments for escrowed loans
Handling expired insurance policies, insurance cancellation, and renewal notices
Acting as a liaison between bank, insurance agent, and borrower
Preparing insurance documentation for imaging process to ensure image quality
Reviewing images of insurance documentation to ensure image quality
Handling monthly expired insurance reporting and related management reporting
Completing flood insurance calculation worksheet and imaging to file
Coordinating force placed insurance process
Maintaining department service level standards and providing exceptional customer service to internal and external clients
Adhering to the internal loan policy and procedures of the bank as well as adhering to compliance regulations and state/federal banking laws
Reviewing and updating department operating policies and procedures as it relates to property and flood insurance
Working with audit, compliance, risk management and state/federal examiners to provide documents and data as requested
Adhering to regulatory requirements of the Bank Secrecy Act, Anti-Money Laundering, Customer Identification Program and OFAC
Participating in Disaster Recovery efforts as it relates to the Insurance Servicing area