The GSE Insurance Analyst is responsible for the compliance reviews of the Fannie Mae and Freddie Mac multifamily loan portfolio. This position requires a detail-oriented, deadline-driven individual who can work individually, with members of other teams as well as with his/her own team to manage multiple tasks and projects simultaneously. This position will have extensive internal and external customer interaction.
Success in this position will produce efficient, high-functioning portfolios ensuring accuracy and compliance while providing excellent customer satisfaction.
Essential Duties and Responsibilities:
- This position will work with the Merchant Capital’s production team by reviewing insurance prior to closing.
- Review Loan Documents, Appraisals, Engineering, Seismic, and Phase I Environmental Reports to determine loan-specific insurance requirements.
- Input and maintain data using FICS and SS&C PLM.
- Point of contact on insurance questions, coverage requirements and investor guidelines
- Conduct due diligence of loan documents to ensure proper loan setup and servicing of the loan.
- Identify potential risk for the company and the investor and promptly notify the appropriate parties following identification of any coverage issue, deficiency, or lapse in coverage.
- Perform annual review of insurance certificates, statement of values and invoices to determine compliance with Investor guidelines.
- Audit insurance policies to ensure conformity with investor compliance.
- Process Insurance waivers/Exceptions with supporting documentation for non-compliant insurance issues.
- Pursue and obtain invoices, paid receipts and evidence of insurance on assigned portfolio.
- Bachelor’s degree, preferably in the business or finance areas; or insurance related industry designations with direct experience and demonstrated ability to perform the required tasks.
- Minimum of 3 years insurance experience in multifamily loan administration preferred.
- Clear knowledge of Commercial Insurance Coverage – Property, (including Flood, Wind, Earthquake and Terrorism), General Liability (including Workers Comp and Auto), Professional Liability and Umbrella/Excess Liability Insurance
- Familiarity with Agency and Lenders (Fannie Mae, and Freddie Mac) programs a plus.
- Requires problem solving skills as well as the initiative to troubleshoot and find resolutions.
- Requires excellent communication skills, written and oral, through all levels of the organization.
- Must demonstrate the ability to identify, interpret and apply applicable guidelines in managing assigned processes.
- Must possess strong organization and communication skills with a focus on accuracy and attention to detail.
- Must demonstrate the ability to successfully schedule own workload to most efficiently meet multiple deadlines and manage assigned portfolio, prioritizing according to risk and urgency.
- Ability to work well as part of a team while also capable of self-motivation and strong individual performance.
- Providing premier customer service to investors, borrowers, agents and co-workers.
- Demonstrate continued growth and development towards a senior role in the department.
- Ability to maintain a positive attitude in all situations
- Requires high level of computer proficiency in Microsoft Office, specifically regarding Outlook, Word and Excel.
- All employees are expected to contribute to the overall success of the organization by performing requested duties regardless of explicit inclusion in the job description or reasonable relation to an employee’s primary role. Additionally, all employees must understand and adhere to all federal and state laws and banking regulations and company policies and procedures applicable to assigned job responsibilities, including compliance as appropriate under the Bank Secrecy Act and Anti-Money Laundering regulations.
Additionally, all employees are expected to demonstrate the following Core Competencies:
Professionalism – acting with responsibility, integrity and accountability; demonstrating consistent trustworthiness and reliability; always remaining flexible, adaptable and willing to accept coaching; building and managing professionally healthy relationships; deliberately managing career decisions; and continually developing awareness of business-related topics.
Communication – understanding various active and passive tools and styles and their effects; and exhibiting appropriate, effective, timely use of tools and styles to connect, collaborate, facilitate teamwork and serve customers.
Work Quality – demonstrating an ongoing commitment to compliance, safety and security; executing work with efficiency, a sense of urgency and attention to detail; and displaying organized work practices and a results-oriented mindset.
Analytical Ability – navigating work-related circumstances with practical, sound reasoning; and demonstrating creativity in problem solving.
Leadership – displaying good judgment and certainty in decision making; taking initiative with job-related demands; demonstrating innovative thinking and sound planning with business practices; managing individual performance toward shared organizational goals; and thinking strategically to set and accomplish goals.
Merchants Bancorp and its affiliates and subsidiaries are committed to being equal opportunity employers. All job candidates and incumbents will be assessed based on only criteria relevant to successfully performing the job as defined in this job description and as generally accepted in the job’s relevant industries.