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Regular or Temporary:
RegularLanguage Fluency: English (Required)
Work Shift:
1st shift (United States of America)Please review the following job description:
This position will support the Servicing and Asset Management department and serves as the primary resource for insurance monitoring and compliance for a book of commercial loans financed through Fannie Mae, Freddie Mae, FHA, Life Insurance Companies and Other lending programs. Specific responsibilities include, but are not limited to:
- Review, analyze and interpret all types of property and liability insurance policies for commercial real estate loans to ensure compliance with loan documents, investor requirements, government regulations (Fannie Mae, Freddie Mac and FHA/Ginnie Mae) and internal policies and procedures
- Review replacement cost and loss of income calculations for commercial real estate insurance policies to ensure compliance with loan documents and investor guidelines
- Complete Blanket Analysis as required
- Review casualty losses incurred on commercial properties and advise internal and/or external clients regarding insurance coverage and loss proceed requirements relating to those casualties
- Correspond, as necessary, with borrowers, insurance agents, and insurance companies to resolve any loan compliance issues or discrepancies related to insurance
- Subject matter expert who can be a resource for other associates relating to insurance and resolve insurance related discrepancies
- Monitor the insurance process and ensure that proper insurance coverage is in place for the commercial real estate properties securing loans serviced by the department as required by the loan documents, investor requirements, government regulations and internal policies and procedures
- Work closely with management and staff to ensure compliance with policies and procedures relating to insurance including, but not limited to, collection of insurance certificates (ACORD form) and/or policies, payment of premiums, monitoring expirations, etc.
- Recommend enhancements to insurance related processes that reduce risk and increase efficiencies
- Monitor and ensure the data contained in the loan servicing system, as well as investor and GSE (Government Sponsored Enterprise) websites, is updated to reflect the current status regarding insurance policies including, but not limited to, effective dates, coverage amounts, etc.
- Oversee the process for securing any forced place insurance coverage that is required due to non-compliance with loan agreements and advise management regarding costs, coverage and risks associated with those policies
- Assist with the coordination of insurance matters relating to servicing transfers – incoming and outgoing
- Ensure appropriate documentation of completed compliance reviews
- Must be a team player and have the willingness to help others when needed
- Achieve or exceed minimum training hours as stated in the department’s policy
- Some travel may be required
- Other duties as assigned
Required Skills / Qualifications:
- Extensive knowledge of the various types of commercial property insurance policies
- Commercial insurance agency and/or servicing work experience
- Insurance compliance background including, but not limited to, coverage discrepancies, industry standards and government regulations
- Strong written and verbal communication skills
- Demonstrated ability to work with teammates and customers at all levels within an organization
- Strong PC skills, including a demonstrated proficiency with Microsoft Office applications such as Excel, Outlook and Word
- Professional and polished demeanor
- Excellent time management skills with a demonstrated ability to multi-task, follow through on commitments, meet deadlines and drive results
- Ability to work well under pressure and within tight time constraints, process high volumes, including the ability to work overtime if required
- Strong customer service skills
Desired Skills / Qualifications:
- Insurance certifications and/or designations such as CIC, ARM, AU, CLCS, CPCU
- Commercial multifamily insurance compliance background relating to FNMA, FHLMC and FHA/GNMA
- Prior commercial real estate loan servicing experience
- 4 year degree
Truist stands for better.
Our relentless pursuit of better at Truist means we’re always looking forward. Pursuing what’s next. Boldly believing in the power of what we can achieve together. Our promise to stand for better means we’re creating smarter and easier experiences for clients. It means we’re connecting people and businesses to build confidence and create meaningful change in lives and communities. And it means we do the right thing, we speak up for those who may not be heard, and we challenge the status quo. Every decision we make starts with this belief in better.
Touch. Technology. Trust.
Truist is combining distinctive personal service with investments in innovation to create transformational client experiences. We believe the unique blend of human touch and innovative technology will set us apart, instill confidence, and build deeper levels of trust with our clients.
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General Description of Available Benefits for Eligible Employees of Truist Financial Corporation: All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site. Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.
Truist supports a diverse workforce and is an Equal Opportunity Employer that does not discriminate against individuals on the basis of race, gender, color, religion, citizenship or national origin, age, sexual orientation, gender identity, disability, veteran status or other classification protected by law. Truist is a Drug Free Workplace.
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