Senior Insurance Administrator, Commercial Real Estate (Hybrid - Downtown Seattle, WA)

Homestreet Bank • Seattle, WA

389d • $98,200 - $161,900 • Hybrid

About The Position

The position is responsible for administering the Commercial Real Estate (CRE) Insurance Policy and Procedures related to a substantial portfolio of commercial real estate loans. This role involves interacting with various stakeholders, including borrowers, insurance companies, and auditors, while supporting the origination and asset management areas of CRE. The individual will also develop training programs and ensure compliance with insurance requirements across loan programs.

Requirements

• High school graduate or equivalent; BA or BS preferred in risk management or commercial insurance underwriting.
• Minimum of 10 years' experience in commercial real estate lending/servicing and/or commercial property and casualty insurance.
• Strong understanding of lender insurance requirements for all commercial property types.
• Demonstrate strong PC skills and experience with Microsoft Office, Outlook, and Adobe applications.
• Excellent verbal and written communication skills.

Nice To Haves

• Prior experience with networked loan servicing platforms, Precision LM, FIS, or Backshop® preferred.
• Prior commercial insurance underwriting experience.
• Prior experience with developing procedures and conducting training.
• Advanced Microsoft Excel experience.

Responsibilities

• Periodically review and revise CRE Insurance Requirements for all CRE offered loan programs.
• Monitor and remain current on regulatory and investor insurance requirements, including Fannie Mae Multifamily insurance guidelines.
• Develop and implement training programs for CRE Loan Servicers, Asset Managers, Underwriters, and Closers regarding insurance-related materials.
• Oversee third-party consultants engaged to review insurance policies at loan origination for compliance at closing, policy change, and renewal.
• Manage HSB contracts with flood zone certification vendors, including periodic review and quality controls.
• Directly manage loan-specific insurance-related issues, including coverage exceptions and flood zone discrepancies.
• Develop and maintain written procedures for tracking insurance-related data, including policy coverages and renewals.
• Assist Asset Managers in insurance claim-related activities as needed.

Benefits

• Medical, dental, and vision coverage for employees and their families.
• Life, disability, and family leave.
• 401(k) and Roth 401(k) with employer match.
• Wellness program and employee assistance program.
• Generous vacation and sick leave, 11 paid holidays, and 16 hours of paid leave for community service work.

What This Job Offers

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