Collateral Protection Specialist I

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GENERAL DESCRIPTION

The Collateral Protection Specialist I will work closely with third party insurance & tax tracking vendors, ensuring all real estate collateral is being tracked correctly and premiums are paid timely. Works a variety of reports associated with taxes and insurance. This includes tracking insurance claims from time of notice to completion for all collateral types. Assists internal and external customers with a variety of requests, and prepares internal and external correspondence.

ESSENTIAL DUTIES

1. Researches new loans for applicable tax parcel information and insurance documentation for each piece of real estate collateral and enters all applicable information into the bank's core system as well as the online tracking systems. This duty is performed about 10% of the time.
2. Responsible for timely remittance of payments from escrow for insurance premiums to appropriate agencies and real estate taxes to the third-party vendor or appropriate counties prior to the tax cycle due dates. This includes verification of premiums, updates to escrow accounts and distribution processes. This duty is performed about 30% of the time.
3. Distributes weekly insurance reports and works closely with the insurance tracking vendor, insurance agencies, loan officers, and assistants regarding the status of insurance. This duty is performed about 20% of the time.
4. Responsible for the integrity of the data with tracking vendors. This includes account maintenance in the core system when collateral is added, released or becomes bank owned. Works with the management team to perform a semi-annual "match-off" comparing records in the core system to vendor data, and processing any necessary cleanup. This duty is performed about 10% of the time.
5. Processes insurance claims from time of notice to completion with an understanding of the required documentation. Able to appropriately communicate bank requirements and processes with third party insurance tracking vendors, insurance agents/companies, customers, and other internal departments. Creates correspondence including, but not limited to lien releases and continue payments. This duty is performed about 10% of the time.
6. Monitors and updates Consumer Auto Insurance tracking reports, sending requests for insurance as needed. This duty is performed about 5% of the time.
7. Works service events and answers phone calls from internal and external customers with the ability to appropriately communicate statuses along with bank requirements and processes. This includes all tasks assigned to Collateral Protection. This duty is performed about 5% of the time.
8. Responsible for monitoring and balancing general ledger transactions, including researching aged items. This duty is performed about 5% of the time.
9. Process incoming mail and faxes for all Collateral Protection groups (insurance, real estate taxes, and claims) as needed. This duty is performed about 5% of the time.
10. Maintains regular and reliable attendance, punctuality and personal appearance. Reads, writes, and communicates in a clear and efficient manner via various types of correspondence, such as, in person, phone, email, letters, etc. Adheres to all company policies and procedures, as well as all applicable banking rules, regulations, and laws (including BSA/AML).
11. Performs any other related duties as required or assigned.

EDUCATION AND EXPERIENCE REQUIREMENTS

• High school diploma or GED
• Some college and/or equivalent relevant work experience and training equal to at least 5 years.
• Regular use of desktop/laptop computer, basic operating systems, and specialized software systems.
• Basic experience with alphanumeric data entry, PowerPoint, Excel, and Word Processing
• Ability to add, subtract, multiply and divide

PHYSICAL REQUIREMENTS

The following physical activities described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions and expectations.

• Semi-repetitive and low physical activities.
• Semi-repetitive type work which requires periods of concentration for varied time cycles as prescribed by the tasks.
• Frequently required to talk or hear; regularly required to sit, use hands to handle or feel, reach with hands and arms; and occasionally required to stand, walk, climb or balance, stoop, kneel, crouch, or crawl.
• Occasionally required to lift and/or move up to 25 pounds.

Monday - Friday 8:00 AM - 5:00 PM

Total Hours: 40

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