About Us Live Oak is more than a bank. Live Oak helps people realize their full potential so they can create meaningful impact at work, home or in their communities. As an innovation hub, we fully embrace a bold approach to solving problems and surpassing goals. Daily life at Live Oak centers around a culture of taking care of each other, which has made us one of the most desirable places to work. We’ve topped the list of American Banker’s “Best Banks to Work For” because of our unparalleled dedication to our people. Our commitment to our customers and our culture is intertwined, so we seek those who embody and embrace what it takes to empower the American dream. Learn more at liveoakbank.com. How This Role impacts Live Oak and its People As a part of the Insurance Department, the Insurance Specialist will help the bank meet audit expectations by ensuring that collateral for loans is protected via the insurance process. The role is essential to protecting the both the bank and borrower’s interest. What You’ll Do at Live Oak Function as a team and realize all members of the team are vital to its success. Gain a thorough understanding and stay current with the insurance industry services and products. Perform other duties as required, willing to cross-train. Reviews loans for documentation deficiencies and tracks for missing/incomplete documentation as it relates to Insurance. Assist customers and loan personnel with questions related to billing, documentation exceptions, and other insurance related questions. How You’ll Do It Has responsibility for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection and determent of money laundering or other unlawful activities. Makes decisions regarding proper insurance for all loans, including property, flood, and life to include force placement. Images & manages documentation within the loan system. Prepares and maintains insurance in the collateral files. Reviews all loans for documentation deficiencies and maintains tickler system/database for all missing loan documentation pertaining to insurance. Ensures that insurance is complete, accurate and compliant for all loan documents and records to mitigate risk for the bank. Establishes ticklers for follow up on all insurance and completes follow up for annual insurance updates on all loans. Opens and processes insurance mail daily. Works on or assists with special projects that may be applicable to Insurance Department. Processes and submits requests to A/P for payment of invoices. Provides additional support for all team members as needed. Required and Preferred Experience SBA & Commercial loan documentation experience preferred. Customer service experience preferred. Insurance knowledge strongly preferred. Property & Casualty and/or Life Insurance license(s) strongly preferred. Ability to work independently 2 years experience in the Insurance Department or demonstrating the ability to take on more responsibility. Required to Thrive at Live Oak Dedication – You possess a deep commitment to Live Oak Bank’s mission and core values, exemplified through a strong work ethic, adaptability and pride in your work. Ownership – You take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality. Innovation – You embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems. Teamwork – You foster collaboration, accountability and trust with others and understand that together, we do more. Respect – You treat everyone with courtesy, politeness and kindness. “The above statements are intended to describe the general nature and level of work being performed by the incumbent assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and/or skills required of all personnel so classified.” Live Oak Bank is an Affirmative Action and Equal Opportunity Employer, Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at careers@liveoak.bank EEO is the Law Commitment to Diversity Live Oak Bank is committed to creating and maintaining a workplace in which all employees have an opportunity to participate and contribute to the success of the business and are valued for their skills, experience, and unique perspectives. This commitment is embodied in company policy and the way we do business at Live Oak Bank and is an important principle of sound business management.