What are the responsibilities and job description for the Collateral Insurance Specialist position at State Bank of Texas?
The Insurance Specialist is responsible for processing tasks and monitoring insurance vendors. The Insurance Specialist responds to internal and external customers regarding insurance inquiries. The Insurance Specialist will ensure that the policies and procedures of the department are strictly adhered to, federal guidelines are followed and that all business objectives are achieved by performing the following duties.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
• Maintains the workflow volume for hazard and flood insurance.
• Reviews insurance tracking vendor reports daily and contacts insurance companies directly for renewal policies, if necessary.
• Ensures that insurance vendor is processing the insurance renewal policies.
• Reviews and processes daily insurance mail and provides copies to the insurance tracking vendor.
- Processes all escrowed insurance accounts to ensure renewal policies are paid in a timely manner.
• Handles escalated loan level insurance issues and provides departmental research assistance as required to support client inquiries.
• Works with management to ensure that internal and external audits are completed timely and accurately.
•Ensures that force placed insurance is placed by the insurance tracking vendor in a timely manner.
• Tracks and provides information on conversations with customers and status of all outstanding items.
• Responsible for responding to the borrowers’ verbal inquiries regarding insurance.
• Performs updates on the exception system upon receipt of insurance policies.
• Assists with special projects as needed.
• Performs other duties as assigned by management.
• Other duties as assigned.
QUALIFICATIONS: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• 1-3 years of commercial insurance experience required.
• Customer service, team and goal oriented with a positive attitude towards work and others.
• Excellent attention to detail.
• Excellent written and verbal communication skills to effectively multi-task and prioritize workflow in a high-volume environment.
• Ability to work well independently, as well as part of a team to achieve department/group goals.
• Strong customer-service orientation.
• Ability to use good judgment.
• Knowledge or experience with Fiserv and Doc Links a plus.
• Proficient in Microsoft Office Applications.
• Well versed with regulatory guidelines.
EDUCATION/EXPERIENCE:
• High school diploma required. Bachelor's Degree preferred.
• Minimum 2 years of experience in insurance processing.
• Up to two years' related experience and/or training in loan servicing.
• Knowledge of commonly used terminology, concepts, practices, and procedures in loan and insurance servicing.
• Proficient in Microsoft Office Applications.
• Intermediate working knowledge of Doc Links or similar tracking system.
