Analyst will be responsible for monitoring and updating insurance coverage requirements for existing loans in various software systems for Real Estate and Commercial loans. The analyst will also review insurance coverages for new loans ensuring the borrower’s insurance policies are in compliance with loan policy, various loan servicing agreements and/or Fannie Mae guidelines.
Review and analyze annual insurance documents submitted for Real Estate, Commercial, and SBA loans and others as assigned. Identify loans that do not meet loan requirements and communicate with insurance agents and/or borrowers accordingly. Follow up on cancellation notices to ensure property coverage is in force. Send monthly renewal letters. 45% Review insurance documents submitted for new loan originations and work with the borrower’s insurance agent to ensure compliance with loan policy and/or the applicable loan servicing agreement. 25% Update McCracken database with insurance information for all assigned loans. 25% Assist with special projects as assigned including audit data collection, insurance verification for loan sales, updating mortgage clauses after loan sales. 5%
Minimum Qualifications: Two years or more of experience in property and casualty insurance preferred. Industry certifications/designations (e.g. AINS, AU, CPCU) or progress toward these designations is preferred.
The candidate should have experience in the insurance industry and be able to apply their existing knowledge to the insurance requirements of various loan types originated and serviced by NCB.
The candidate should also have excellent organization and communication skills to effectively deal with multiple job duties and personalities. Experience in the real estate and/or commercial banking industry is considered a plus.
The candidate should have a firm knowledge of basic computer skills, Microsoft Excel, Word, Internet Explorer/Chrome and Outlook. The candidate will also be required to learn various internal systems.
About National Cooperative Bank, N.A
National Cooperative Bank’s mission is to support and be an advocate for America’s Cooperatives and their members, especially in low-income communities, by providing innovative financial and related services.
We are dedicated to attracting, developing and retaining the most diverse talent. We offer an inclusive environment where employees are respected, challenged and rewarded for their contributions to our success. We integrate diversity of experiences, opinions, thoughts, and skills into our business decisions to ensure that we are reaching all communities where we live and work. Our commitment to cooperatives and community development has guided us since our inception and is critical to building stronger links among our customers to help all communities accumulate wealth, fuel local economies and provide homeownership.