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This position may be filled at a level 1, 2 or 3 depending upon experience.
Job Title: Insurance Specialist 1 – Account Clerk 1
Department: Loan Operations
Reports To: Loan Operations Manager
Equal Employment Opportunity
Savings Bank of Mendocino County is an Equal Opportunity Employer and employment selections are based on merit, qualifications and abilities. Savings Bank of Mendocino County will consider all qualified applicants for employment and does not discriminate in employment opportunities or practices on the basis of: age, race, religion, color, sex, national origin, sexual orientation, gender identity, protected veteran, disability, or any other status protected by law.
Under the supervision of the Loan Operations Manager, but in accordance with established policies and procedures this position is responsible for obtaining, correlating and safeguarding both hazard insurance information for all new and existing loans and Flood insurance information for all new and existing loans determined to be in a Flood Plain. Is also responsible for ensuring that all new and existing loans which require our manual follow-up for hazard and flood insurance have the required ticklers and insurance coverage for the amount necessary. This individual is also responsible for staying current with all the changes and updates to the Federal Emergency Management Agency (FEMA) Mandatory Purchase of Flood Insurance Guidelines and for making changes to Savings Bank policy & procedures for same to Loan Operations Manager.
Essential Duties and Responsibilitie
- Regular and predictable attendance and punctuality.
- Process insurance mail daily. Forward all mail to outside tracking vendor, QuieTrack Insurance Services.
- Must have complete/full knowledge of master insurance policies and coverage limits/procedures of our insurance tracking service and ensure loans exceeding their policies are insured by in house tracking.
- Daily/weekly review of all Insurance reports from QuieTrack Insurance Services for appropriate follow-up necessary to ensure full protection of Bank collateral.
- Ensure all new and existing loans, which require our follow up for insurance, have the required ticklers and current insurance coverage for the amount necessary to ensure full coverage on our collateral.
- Receive and process all Flood Hazard Certifications that require 2 part notices per FEMA guidelines.
- Review all new loans in flood zone to ensure that all required insurance and coverage amounts have been obtained and in place prior to Boarding/Funding and obtain concurrence from a designated second reviewer.
- Works with customers, Insurance Tracking vendor and Insurance Agencies via email, telephone and in person, to resolve insurance deficiency issues.
- Issue force placed insurance, create invoices, and adjust borrower’s loan/payments accordingly.
- Works independently to complete all assigned tasks while continuing to work closely with other staff members within the Lending area to accomplish overall department goals and objectives.
- Assists other Loan Servicing Areas as time allows
- Other duties as assigned.
· To perform this job successfully, an individual must be able to perform each essential function 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.
· Knowledge of loan processing practices, methods and procedures, Commercial, Real Estate and Consumer loan files and documents
Education and/or Experience Requirements
- High School Diploma or General Education Degree (GED).
- Minimum of one to two years’ keyboard and office experience and/or training; or equivalent combination of education and experience.
- Banking experience preferred, but not required
Minimum Typing Speed Required
45 wpm or higher
- Ability to read and interpret documents such as safety rules, operating instructions, procedure manuals, policies and memorandums.
- Ability to write routine correspondence and communicate effectively and tactfully, orally and in writing with employees, customers, vendors and management.
- Must possess the ability to speak clearly so others can understand.
- Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition and grammar.
- Bilingual skills desirable.