Job Description
Insurance Specialist
Scope and Purpose of Job: Responsible for tracking and monitoring hazard, windstorm, content and liability insurance in conjunction with the Company’s third party insurance vendor, as well as the Bank’s tracking system. Additionally, responsible for collecting policy renewal documentation, certifying proper coverage, ordering force placements and collecting premiums on force-placed policies. Will also support the insurance supervisor in analyzing pre-closing insurance policy coverages for real estate secured loans in excess of $10MM.
Main responsibilities:
• Assist in the overall insurance tracking/monitoring program: hazard, liability, flood, content, vehicle ensuring that loan portfolio insurance policies are properly tracked, coverages are adequate, and exceptions are reported.
• Using the vendor’s Track Collateral System to run reports of upcoming expirations, cancellations, and expired policies in order to perform monitoring functions.
• Provide Supervisor with weekly updates of potential force-placements.
• Request manual force-placement and refunds, as applicable.
• Assist in the pre-closing review of real estate secured loans in excess of $10MM via a third-party vendor.
• Request, receive and review insurance coverage documentation for loans tracked by the insurance vendor. Scan and forward documentation to the insurance to update the tracking system and update the customer’s file, respectively.
• Request, receive and review insurance coverage documentation for loans not tracked by the vendor (e.g., hazard/windstorm on commercial loans). Update the bank’s tracking system.
• Reconcile and prepare instructions to process the auto, hazard and windstorm statements.
Minimum Work Experience Requirements:
Two or more years of experience working with auto, residential and commercial property insurance policies preferably in a banking institution.
Technical and/or Other Essential Knowledge:
Sound time management, organizational and communication skills. Knowledge of auto, liability, content, hazard windstorm insurance, and flood insurance topics. Experience with MS Office, particularly proficient in MS Word and Excel; PowerPoint a plus. Experience with FIS IBS Insight a plus.
Skills:
Banking Services, Commercial Loans, Communication Skills, Documentation, Insurance, Insurance Documentation, Liability Insurance, Loan Documents, Microsoft Excel, Microsoft Office, Microsoft PowerPoint, Microsoft Word, Mortgage Lending, Organizational Skills, Policy Development, Property Insurance, Residential Real Estate, Systems Maintenance, Third-Party Payer, Time Management
About the Company:
Amerant Bank
Scope and Purpose of Job: Responsible for tracking and monitoring hazard, windstorm, content and liability insurance in conjunction with the Company’s third party insurance vendor, as well as the Bank’s tracking system. Additionally, responsible for collecting policy renewal documentation, certifying proper coverage, ordering force placements and collecting premiums on force-placed policies. Will also support the insurance supervisor in analyzing pre-closing insurance policy coverages for real estate secured loans in excess of $10MM.
Main responsibilities:
• Assist in the overall insurance tracking/monitoring program: hazard, liability, flood, content, vehicle ensuring that loan portfolio insurance policies are properly tracked, coverages are adequate, and exceptions are reported.
• Using the vendor’s Track Collateral System to run reports of upcoming expirations, cancellations, and expired policies in order to perform monitoring functions.
• Provide Supervisor with weekly updates of potential force-placements.
• Request manual force-placement and refunds, as applicable.
• Assist in the pre-closing review of real estate secured loans in excess of $10MM via a third-party vendor.
• Request, receive and review insurance coverage documentation for loans tracked by the insurance vendor. Scan and forward documentation to the insurance to update the tracking system and update the customer’s file, respectively.
• Request, receive and review insurance coverage documentation for loans not tracked by the vendor (e.g., hazard/windstorm on commercial loans). Update the bank’s tracking system.
• Reconcile and prepare instructions to process the auto, hazard and windstorm statements.
Minimum Work Experience Requirements:
Two or more years of experience working with auto, residential and commercial property insurance policies preferably in a banking institution.
Technical and/or Other Essential Knowledge:
Sound time management, organizational and communication skills. Knowledge of auto, liability, content, hazard windstorm insurance, and flood insurance topics. Experience with MS Office, particularly proficient in MS Word and Excel; PowerPoint a plus. Experience with FIS IBS Insight a plus.
Skills:
Banking Services, Commercial Loans, Communication Skills, Documentation, Insurance, Insurance Documentation, Liability Insurance, Loan Documents, Microsoft Excel, Microsoft Office, Microsoft PowerPoint, Microsoft Word, Mortgage Lending, Organizational Skills, Policy Development, Property Insurance, Residential Real Estate, Systems Maintenance, Third-Party Payer, Time Management
About the Company:
Amerant Bank
💡 Quick Summary
Seeking a career-building opportunity? The Insurance Specialist - Temporary position is now open for candidates interested in the Bank Jobs sector. This role in Miramar offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
