Loan Insurance Escrow Specialist – Insurance Focused
SouthState Bank
full-time
Posted on:
Location Type: Office
Location: Charleston • South Carolina, Texas • 🇺🇸 United States
Visit company websiteJob Level
JuniorMid-Level
About the role
- Responsible for maintaining continuous insurance coverage on Mortgage, Mobile Home, Commercial and Retail Loan Portfolio; processes escrow insurance payments; tracks flood zone changes.
- Responsible for updating and maintaining insurance information on core servicing system.
- Monitors reports and verification of accurate insurance tracking with vendor; processes force place insurance payments for insurance vendor.
- May assist with special initiatives or projects and support other areas within Loan Operations as needed; ensures compliance with South State Code of Business Conduct and Ethics and other operating procedures and policies.
- Monitor flood zone changes reported by vendor; ensures all real estate collateral located in a special flood hazard area maintains adequate flood insurance coverage.
- Monitor insurance vendor reports for accurate insurance tracking.
- Update flood determination data on core system.
- Processes vendor pay file to disburse insurance premium payments from escrow.
- Process escrow insurance payments in timely manner to ensure continuous coverage.
- Audits force place insurance billing for accurate placement, correct premium charges to loan and refunds credited back to loan.
- Request insurance policies from Insurance companies and/or agents and submit to insurance vendor.
- Complete insurance vendor reports daily, weekly and monthly.
- Works and completes insurance related Source tickets from vendors, customers, lenders, and other bank personnel.
- Cross-train in areas within Loan Operations to provide support during changes in volume.
- Assists with development and regular review of procedures to improve operational efficiencies and to ensure adherence to bank policies and regulatory guidelines.
Requirements
- High School diploma required; Bachelor’s degree preferred.
- A minimum of 2 years’ experience in an operations role is required.
- Must be knowledgeable in all loan servicing functions including consumer, commercial and mortgage loans.
- Knowledge of Federal and State regulatory items is required.
- Experience with FiServ systems software is preferred.
- Proficiencies with Excel, Word, and other MS Office programs.
Benefits
- Health insurance
- Retirement plans
- Paid time off
- Flexible work arrangements
- Professional development
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
insurance trackingescrow insurance paymentsflood zone monitoringvendor managementauditingloan servicingoperational efficienciesreportingdata updatingcompliance
Soft skills
attention to detailorganizational skillscommunicationcross-trainingproblem-solvingteam collaborationadaptabilityinitiativetime managementcustomer service