What are the responsibilities and job description for the Insurance Servicing Associate - Consumer Loan Operations position at WesBanco Bank, Inc.?
SUMMARY:
Responsible to review and monitor all insurance tracking on bank collateral on existing loans through payoff. Completes forced-placed insurance coverage and transactions as needed. Works with third party vendor for insurance monitoring. Provides internal and external customer support.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
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.
Ensures accurate and timely processing of insurance monitoring with third party vendor as well as insurance policies tracked in-house.
Learns new systems and processing in order to streamline and scale work.
Demonstrates a willingness to change processes and technological capabilities.
Collaborates and cooperates with peers and leaders effectively.
Performs work within customer service level expectations and key vendor processing timelines.
Performs daily work as defined with accuracy.
Receives insurance bills and makes timely payment to avoid cancellations and reinstatements.
Works with third party insurance monitoring company on loans monitored by vendor.
Receives hazard insurance cancellations and reinstatements, and insurance policies on in-house tracked loans through mail and email, prioritizes workload by assessment of risk and deadlines.
Monitors hazard insurance and non-real estate collateral insurance (commercial vehicles, inventory, etc.) by reviewing the lien on the policy and information in the core banking system.
Reviews insurance policies for verification of collateral.
Updates insurance policy details on the loan file in the core banking system.
Documents notes on insurance policy and uploads documents to electronic filing system. Contacts insurance companies to confirm policy status.
Sends notices within established timeframe to meet regulatory requirements.
Completes forced place premium process to include advancing money to pay premium, balancing general ledger entry and calculating loan payment changes.
Researches questions or issues through internal and external customer support, including acting as a liaison with insurance tracking vendors.
OTHER REQUIREMENTS:
Banking is a highly regulated industry and you will be expected to acquire and maintain a proficiency in the Bank's policies and procedures, and adhere to all laws, rules and regulations that are applicable to your conduct and the work you will be performing. You will also be expected to complete all assigned compliance training in a timely manner.
Professional demeanor in appearance, interpersonal relations, work ethic and attitude.
Possess clear, concise, effective written and oral communication skills to effectively express thoughts, ideas and concepts to management, bank employees and bank customers in a collaborative and solutions-oriented manner.
Ability to interact effectively within team and with customers they service.
Demonstrated ability to manage priorities and meet critical deadlines as defined.
Strong organizational and prioritization skills.
Team player with a positive outlook.
Willingness to provide a level of service, which will clearly differentiate us from our competitors.
Ability to interact with outside customers when needed
Ability to provide superior service to internal departments
Professional demeanor in appearance, interpersonal relations, work ethic and attitude.
Possess clear, concise, effective written and oral communication skills to effectively express thoughts, ideas and concepts to management, bank employees and bank customers in a collaborative and solutions oriented manner.
Ability to be collaborative with co-workers and employees.
Able to multi-task and function effectively under stressful conditions.
Ability to work in a team environment as well as independently.
Ability to perform detailed work.
Ability to maintain confidentiality.
Ability to handle workload pressure and deadlines.
Ability to learn Microsoft programs including Word, Excel, and Access.
Ability to understand and utilize banking industry technology.
Qualifications:
High school diploma or general education degree (GED) required.
Experience in banking or other financial institution preferred.