Commercial Real Estate Administration Risk & Insurance Manager

Job Summary:

With the support of the Commercial Real Estate Administration Manager, this position manages a team of Commercial Real Estate Administration Specialists with responsibilities to include direct supervision, workflow management, and performance management in relation to:

• Commercial Title Insurance Review
• ALTA Survey Review
• Environmental Report Review
• Commercial Insurance Review
• Commercial Flood Due Diligence (Origination & Servicing)

Together with the Commercial Real Estate Administration Manager, this position is responsible for maintaining service level agreements, policies and procedures, and various department related forms and documentation.  Additionally, this position is responsible for onboarding and training of new hires. This position works closely with Commercial Bankers and other various commercial lending support departments as well as Credit Risk Management leaders.

Primary Duties:

Title Insurance and Survey related duties:

• Act as subject matter expert as it relates to commercial title insurance and state related requirements or limitations.
• Educate staff and lenders on title insurance requirements including any applicable regulatory or state related changes.
• Review title insurance policies to ensure the policy includes the Bank’s applicable standard endorsements and ensure that the Bank’s lien position is properly secured / perfected. This review includes both a preliminary review of the title commitment as well as a final review to ensure the final title policy meets the bank’s requirements.
• Consult with title insurance company, borrower, and Banker to resolve any issues related to the title of the property.
• Review ALTA Surveys for the existence of any encroachments, location of easements or other restrictions, and the physical size and boundaries of the properties and determine issues that may adversely affect the Bank’s collateral.
• Consult with the title insurance company on survey requirements as well as on any issues that may affect the Bank’s collateral.
• Maintain the Bank’s list of preferred title insurance companies and land surveyors.
• Provide secondary review of reviews completed by staff members as needed.

 

Environmental Report related duties:

• Act as subject matter expert as it relates to environmental real estate report related requirements.
• Review environmental reports to evaluate properties securing bank collateral for things like the presence of hazardous materials or petroleum contamination and contaminants in groundwater or soil of the property.
• Liaise with credit and lending teams, as appropriate in order to determine appropriate next steps in cases where risk may be present.

 

Flood Due Diligence (Origination & Servicing)

• Obtain and review flood determination reports, when deemed necessary per regulatory requirements.
• Review flood determination reports; if in a flood zone, ensure adequate flood insurance is in place prior to loan closing.
• Monitor ongoing flood insurance policies and ensure appropriate coverage is maintained.
• Ensure the bank is listed as Mortgagee/Lender Loss Payable or Additional Insured.
• Force place insurance when necessary to comply with the regulatory requirement.

 

Commercial Insurance

• Review commercial insurance policies and/or insurance certificates to ensure the appropriate level of insurance is maintained and that the bank is listed as Mortgagee/Lender Loss Payable or Additional Insured as appropriate based on collateral type.
• Consult with Bankers and insurance companies as needed to ensure proof of insurance is obtained.
• Monitor ongoing flood insurance policies and ensure appropriate coverage is maintained.
• Force place insurance when necessary to comply with Bank policy.

 

General

• Maintain and manage pipeline and ensure adherence to established service level agreements.
• Assist Commercial Real Estate Administration Manager on process efficiency projects as assigned.
• In collaboration with the Commercial Real Estate Administration Manager, create and/or update department procedures and training materials.
• Provide training to staff on an ongoing basis and coordinate all on-boarding of new hires.
• Provide mentorship and guidance to staff and act as liaison with lenders and other 3rd parties on review related discrepancies.
• Know by name and face as many customers and employees as possible, calling them by name as often as possible.
• Know, understand, and live the company values and bottom line.
• Conduct