Senior Associate, Pre-Close Insurance

Purpose and Job Summary

The Sr. Associate role is primarily responsible for a portfolio of loans to ensure the insurance obligations as required through loan documents and various investor requirements are maintained by analyzing property, liability, and regional perils to mitigate coverage limits, deductible and other identified deficiencies through correspondence with the Borrower and the Agent to bind adequate coverage on an annual basis.

Essential Duties & Responsibilities

• Maintain strong knowledge of product-specific insurance requirements & the ability to articulate any risk-based solutions for Freddie Mac, Fannie Mae, and FHA portfolios.

• Ensure all insurance files include accurate representation of loan requirements, third party report confirmation, flood determination, and other confirmations as required.

• Review policy documentation from borrowers and insurance agents prior to the due date, ensuring insurance policy compliance with loan documents and/or lender insurance requirements. 

• Ability to understand and analyze complex insurance policy structures such as blanket policies, layered programs, and multiple policies covering single or multiple collateral loans.

• Remediate non-compliant insurance with clients, engaging in proactive communication with both the borrower, asset manager, and insurance agent to obtain clarification on insurance such as coverage limits, policy structure, or deductibles.

• Respond timely to inquiries from internal and external customers, ensuring that the proper notification, escalation, communication, and coordination occurs with management related to the performance of job duties, as needed.

• Strong attention to detail on both insurance and loan-specific characteristics that may impact communication with internal and external partners.  The ability to tailor customer service approaches and needs                                          

• based on the loan status while engaging in proactive communication with internal partners.

• Leaning into challenging situations where there may be no precedence, being comfortable with ambiguity while maintaining a positive mindset, and using each situational experience as an opportunity to learn and grow in your role.

• Monitor reports and deadlines to ensure work is completed in advance of set timelines, proactively communicating portfolio status with manager or team lead as needed. 

• Utilize the Servicing System and other software applications to facilitate insurance reviews for all troubled/watchlist commercial real estate assets

Education, Skills & Experience

• Bachelor's degree preferred but not required

• 5-7 years of experience in insurance selling, underwriting, claims, or CRE insurance

• At least 5 years of experience in commercial real estate mortgage industry of commercial insurance compliance processing

• Ability to educate others, able to translate insurance concepts into clear actionable information/instruction.

• Flexibility and ability to work under pressure with tight deadlines and constant interruptions; Ability to adjust priorities in a changing environment.

• Proficiency in Microsoft Office and list other relevant systems or software

• Excellent organizational, communication, presentation, and interpersonal skills

• Ability to plan, organize, and prioritize assignments, and to meet critical and established deadlines; Ability to manage multiple assignments and transactions simultaneously.

• Demonstrated ability to maintain confidentiality and to use discretion in the performance of daily activities.

• Ability to learn quickly and demonstrated ability to work independently and as part of a high-performance team.

Life at ORIX

We are committed to the health and well-being of our employees and offer a quality, competitive benefits package that provides valuable healthcare and financial protection for our workforce, while emphasizing a healthy work/life balance.

You Time

We want you to have the time needed to recharge and manage life with our competitive vacation policy, floating personal holidays, extensive leave options, our annual observed holidays, and more.

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