What are the responsibilities and job description for the Loan Servicing Insurance Specialist III position at Peoples Bank - Newton, NC?
Position Summary
Position is responsible for (1) Reviewing, tracking and maintaining all collateral and flood insurance policies on the system for new and existing loans,(2) Preparing insurance disbursements/payments for escrowed loans, (3) Handling expired insurance policies, insurance cancellation, and renewal notices (4) Acting as a liaison between bank, insurance agent, and borrower, (5) Preparing insurance documentation for imaging process to ensure image quality, (6) Reviewing images of insurance documentation to ensure image quality, (7) Handling monthly expired insurance reporting and related management reporting (8) Completing flood insurance calculation worksheet and imaging to file, (9) Coordinating force placed insurance process, (10) Maintaining department service level standards and providing exceptional customer service to internal and external clients, (11) Adhering to the internal loan policy and procedures of the bank as well as adhering to compliance regulations and state/federal banking laws, (12) Reviewing and updating department operating policies and procedures as it relates to property and flood insurance, (13) Working with audit, compliance, risk management and state/federal examiners to provide documents and data as requested, (14) Adhering to regulatory requirements of the Bank Secrecy Act, Anti-Money Laundering, Customer Identification Program and OFAC and (15) Participating in Disaster Recovery efforts as it relates to the Insurance Servicing area.
Qualifications
General Qualifications
Required Education
Position is responsible for (1) Reviewing, tracking and maintaining all collateral and flood insurance policies on the system for new and existing loans,(2) Preparing insurance disbursements/payments for escrowed loans, (3) Handling expired insurance policies, insurance cancellation, and renewal notices (4) Acting as a liaison between bank, insurance agent, and borrower, (5) Preparing insurance documentation for imaging process to ensure image quality, (6) Reviewing images of insurance documentation to ensure image quality, (7) Handling monthly expired insurance reporting and related management reporting (8) Completing flood insurance calculation worksheet and imaging to file, (9) Coordinating force placed insurance process, (10) Maintaining department service level standards and providing exceptional customer service to internal and external clients, (11) Adhering to the internal loan policy and procedures of the bank as well as adhering to compliance regulations and state/federal banking laws, (12) Reviewing and updating department operating policies and procedures as it relates to property and flood insurance, (13) Working with audit, compliance, risk management and state/federal examiners to provide documents and data as requested, (14) Adhering to regulatory requirements of the Bank Secrecy Act, Anti-Money Laundering, Customer Identification Program and OFAC and (15) Participating in Disaster Recovery efforts as it relates to the Insurance Servicing area.
Qualifications
General Qualifications
Required Education
- A high school diploma or equivalent is required.
- Associates degree from a two-year college in business-related field
- 2 or more years’ experience in insurance field/environment
- Thorough understanding of collateral and flood insurance coverage
- Proficiency with Microsoft 365 applications, including Word, Excel, Outlook, and Teams
- Ability to enter, update, retrieve and verify information in computer systems.
- Familiarity with electronic document management, imaging and file storage
- Ability to navigate web-based applications and internal systems
- Basic spreadsheet skills, including data entry, sorting, filtering, and simple formulas
- Ability to compose professional emails and correspondence
- Basic trouble-shooting skills for common software, printer, scanner, and login issues
- Strong attention to detail and accuracy when reviewing insurance documents, loan records, and payment information
- Effective verbal and written communication skills with internal and external customers
- Strong organizational and time-management skills, with the ability to prioritize multiple tasks and meet established deadlines
- Sound judgment, analytical thinking, and problem-solving skills
- Ability to work independently while collaborating effectively with team members and other departments
- Adaptability and willingness to learn new systems, procedures, and regulatory requirements
- Professionalism, dependability, discretion, and a commitment to maintaining confidentiality
- Customer-focused approach with patience, tact, and courteous service