What are the responsibilities and job description for the Escrow Manager position at Ascendo Resources?
Escrow Manager
Escrow Manager is responsible for overseeing insurance compliance and escrow account administration across Consumer, Commercial, and Residential portfolios. This role manages all facets of escrow operations, including account setup, analysis, and disbursements for taxes and insurance, while ensuring timely payments and adherence to federal, state, and investor regulations (RESPA, CFPB, FEMA, etc.).
Key Responsibilities
- Oversee insurance tracking for hazard, flood, and other required coverages.
- Evaluate adequacy of insurance coverage for new loans, modifications, and renewals during underwriting.
- Review and approve private flood determinations and recertification's in compliance with Safety and Soundness standards.
- Ensure timely and accurate disbursement of escrow funds and tax payments.
- Monitor insurance waivers and assess overall risk exposure.
- Conduct monthly reviews of insurance exposure and risk assessments.
- Enforce insurance requirements, track deficiencies, and resolve gaps in coverage.
- Evaluate insurance exposure in business continuity planning (e.g., hurricanes).
- Perform QC Matrix compliance reviews and monitor key insurance performance indicators (KPIs).
- Communicate with clients, lenders, real estate agents, title companies, and other stakeholders to collect information and provide status updates.
- Provide assistance to customers, account officers, and branch personnel regarding payments, insurance matters, and taxes.
- Report escalations to the Executive Lending Committee (ELC) and Deposit Lending Committee (DLC).
- Support internal/external audits and maintain full regulatory compliance.
Qualifications
- Bachelor’s degree in Finance, Business Administration, or related field.
- Minimum 5 years of experience in commercial property insurance, escrow, or mortgage servicing.
- Proven management experience working with borrowers, attorneys, and bank officers.
- Strong written and verbal communication skills, with the ability to present complex information to senior leadership.
