Portfolio Operations Associate

Banc of California•Chevy Chase, MD

2d•$49,000 - $74,000

About The Position

The Portfolio Operations Associate independently monitors the receipt and performance of insurance associated with the loan portfolio, including property, master condo, business personal property, liability, liquor liability, professional liability, business interruption, workers’ compensation, life, errors and omissions, disability, and pollution insurance. The associate identifies deviations from agreed-upon coverages and takes appropriate remedial steps. Working closely with a Loan Officer, the associate assesses client and collateral risk across SBA 7(a), 504, and Express loan programs, as well as conventional commercial loans. The role also includes projects and assignments as needed. All duties must be performed in accordance with Company policies and procedures and applicable U.S. state and federal laws and regulations.

Requirements

Minimum of two or more years of lending or insurance experience.
High school diploma or equivalent.
General understanding of corporate finance and accounting concepts.
Advanced Excel spreadsheet skills.
Proficiency with Microsoft Office Suite, including Outlook, Excel, Word, and PowerPoint.
Ability to communicate professionally, orally and in writing, with clients, peers, and Company contacts.
Ability to work independently and collaboratively.
Ability to interface effectively and professionally with senior-level management.
Ability to multitask across several projects.
Excellent attention to detail and accuracy.
Excellent organizational and time-management skills.

Nice To Haves

Associate’s degree or higher.
SBA lending experience.

Responsibilities

Create insurance ticklers for loans in the portfolio as required.
Monitor third-party tracking activities as required.
Notify guarantors and insurance agents and request updated insurance information.
Contact guarantors and insurance agents directly to obtain current insurance information.
Accept insurance certificates through mail, email, fax, and other methods.
Evaluate and process insurance certificates in a timely manner.
Obtain proper assignment language through insurance agents and agencies.
Negotiate proper coverages with guarantors and insurance agents.
Obtain force-placed insurance coverage when required and available.
Update the loan system with accurate, current insurance information.
Evaluate and create ticklers for acquired portfolios.
Assess fees and charges to loans for force-placed insurance or other items as needed.
Process and administer insurance claims according to Bank policies and procedures.
Save insurance certificates and related information to the document management system.
Inform loan officers of discovered changes to collateral, business status, or other items.
Provide loan officers with accurate information needed to maintain current risk assessments.
Prepare weekly reports and summaries informing management about insurance deficiencies and variances.
Inform loan officers of discovered changes needed to loan structure or other items.
Maintain an understanding of SBA SOPs related to insurance, taxes, financials, and other requirements.
Understand basic requirements related to SBA liquidations.
Help maintain insurance, taxes, financials, and other items so that SBA guarantees are fully honored.
Prepare for and participate in internal, external, and regulatory audits.
Complete NAGGL or other SBA-related training programs as recommended by the manager.
Contribute to team efforts, including special projects, and follow established policies and procedures.
Perform other duties and projects as assigned.

Benefits

401(k) plan with company match and immediate vesting.
Medical, dental, vision, AD&D, supplemental life, and long-term disability insurance options.
Pre-tax Health Savings Account with employer contributions.
Pre-tax Flexible Spending Account.
Adoption, surrogacy, and fertility assistance.
Paid parental leave and family support solutions, including family care options.
Paid vacation days, holidays, and volunteer time off for eligible team members.
Tuition reimbursement.
Annual mentorship program.
Leadership development resources.
Access to LinkedIn Learning.