What are the responsibilities and job description for the Senior Underwriting Insurance Analyst position at NewPoint Real Estate Capital?
Working with borrowers and their brokers/agents to ensure that the property and casualty insurance coverage for the properties collateralizing NewPoint Real Estate Capital’s loans comply with the requirements of the loan documents, the Senior Insurance Compliance Analyst also has responsibility for NewPoint Real Estate Capital’s adherence to investor guidelines, servicing contracts, and service level agreements. S/he works with the Director, Insurance Risk Management, and other members of the insurance team to optimize the use of technology and define and implement best practices.
Duties and responsibilities
- For new loans, review the insurance section of the lender’s/investor’s guidelines to determine the insurance requirements for the property/ies serving as collateral for the loans. Review of the Third-Party Reports for the additional insurance exposure requiring coverage. Review the associated insurance documents to confirm that the documents provide adequate evidence that the insurance required is in place and that the insurance coverage is compliant with the lender’s/investor’s guide requirements.
- For refinance/assumptions of existing loans, review the original insurance documents to confirm that the documents provide adequate evidence that the insurance is in place and that the insurance coverage is compliant with the current lender’s/investor’s requirements.
- For Blanket insurance policy, ability to complete a blanket analysis in accordance with the lender’s/investor’s guidelines.
- Maintains systems, files and information, following company and lender/investor guidelines.
- Work with borrowers and their brokers/agents to reconcile non-compliant coverage within the lenders/investors allotted time frame.
- Ensure that all training requirements are met in a timely manner.
- Maintain compliance with Key Performance Indicators.
- In coordination with the Director, Insurance Risk Management, monitor and understand both lending and insurance industry trends (e.g. outsourcing), legislation and availability.
- Participate in other company projects, as requested.
Qualifications
- BBA/BS in Insurance, Finance, Real Estate or Accounting preferred, MBA a plus
- ARM, CPCU, CISR, CIC or related certification completed or in process a plus
- 5 - 7 years of P&C insurance experience, predominantly involving commercial real estate
- Experience with Fannie Mae, Freddie Mac and/or FHA/Ginnie Mae
- Knowledge and understanding of most aspects of commercial property and casualty insurance tracking and compliance associated with commercial mortgage servicing, including but not limited to
- Commercial mortgage loan documents
- P&C insurance documents, including ACORD certificates, binders, and policies
- Typical and specialty P&C insurance programs, coverages, etc.
- Flood and seismic zones
- Working knowledge of commercial real estate finance including an understanding of all types of loans, property types and real estate lenders
- Demonstrated ability to succeed in an environment of uneven/cyclical workloads and tight deadlines
- MBA CCMS Level I and/or II certification a plus
- Strong problem-solving abilities
- Exceptional verbal and written communications skills
- Accuracy oriented with a sense of urgency and strong focus on customer service
- Strong interpersonal and organizational skills
- Medium to advanced MS Office skills
- Ability to travel as required.