The purpose of this job is to perform a post-close review, in accordance with federal regulations, on loans secured by improved real estate determined to be in a special flood hazard area.
Perform monthly compliance audit utilizing a flood determination report from a third party flood vendor to ensure compliance with federal regulations. This responsibility includes intense research and analysis of third party data compared to bank documentation and loan system data. Exceptions found must be resolved and reported to Senior Management.
Prepare the Flood Compliance Checklists for individual loans notating flood and hazard insurance exceptions. Preparation includes the utilization of data from multiple loan systems, vendor websites, and loan collateral files.
Complete the appropriate flood insurance calculation forms to ensure adequacy at flood policy renewal. Accurate completion of the forms is imperative to meet stringent federal requirements mandated by FEMA
Assist customers, agencies, and lending personnel with inquiries pertaining to flood insurance coverage. Resolve issues timely and accurately to ensure compliance with federal guidelines
Force-place flood insurance coverage according to federal guidelines through a third party vendor. Function includes the amortization and restructure of individual loans
Process flood map revisions utilizing Life of Loan map revision reports provided by third party vendors. Resolve flood zone discrepancies occurring between flood determinations and flood insurance policies
Extensive knowledge of flood insurance regulatory requirements related to retail bank real estate & SBA loans
Strong knowledge of financial services with a focus on loan/insurance products, data systems, and insurance processes
Loan documentation knowledge for use when determining required flood coverage amounts (Ex. appraisals, final titles)
Firm computer skills (Word and Excel Test Required)
Ability to manage multiple tasks with little or no supervision
Ability to work independently or with a team to accomplish work requirements
Excellent customer service skills
Excellent communication skills
Proficient ability to research and analyze loan and insurance information to ensure compliance with federal regulations
Must be detail oriented and organized
Completed High School
At least six (6) years of experience working with insurance coverage processes and policies for hazard, wind, and flood insurance