Commercial Mortgage Insurance Senior Manager – Agency/FHA/Balance Sheet

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About this role:

Wells Fargo is seeking an Executive Director to serve as a Commercial Mortgage Insurance Senior Manager to ensure life-of-loan compliance with Fannie Mae, Freddie Mac, Federal Housing Administration (FHA) and Balance Sheet commercial/multifamily insurance coverage requirements.  Learn more about our career areas and lines of business at wellsfargojobs.com.

In this role, you will:

• Determine the appropriate level of insurance coverage for new multifamily/commercial loans originated by Wells Fargo under Fannie Mae, Freddie Mac, and FHA programs and Wells Fargo Balance Sheet

• Responsible for insurance compliance on a portfolio of approximately 4,000 existing commercial loans, also originated by Wells Fargo under Fannie Mae, Freddie Mac, and FHA programs

• Manage a of team of 13 Insurance Consultants and Managers who perform reviews on property and liability insurance certificates and policies for commercial multifamily properties to verify compliance with Fannie Mae, Freddie Mac, FHA, and Wells Fargo guidelines

• Oversight of our Blanket Analysis process to ensure properties that are covered under a blanket policy have sufficient coverage based on geographical locations

• Review and approval of insurance waivers prior to submitting to Fannie Mae, Freddie Mac, and/or HUD for final approval

• Correspond with offshore team, borrowers, and insurance agents to audit the compliance of insurance certificates/policies for new and existing loans

• Collaborate virtually with third-party vendors and offshore team setting process for review, full understanding of Fannie Mae/Freddie Mac/FHA and WF Bank Policy insurance requirements, to resolve insurance exceptions, and use specific criteria to quality assure and report metric results and feedback on a weekly/monthly basis

• Collaborate with senior leaders on the formulation of work procedures, policies and methods to ensure compliance with Wells Fargo, legal, investor, regulatory, and business policies, which directly affect the work unit and other departments

• Analyze management reports to optimize workflow coordination and production with domestic staff, vendors and offshore operations

• Handle special projects that primarily impact his/her functional area or specific department

• Escalate issues, evaluate and process borrowers’ servicing requests in conjunction with asset managers, internal and external counsel, and business partners, and ensure quality customer service is provided to internal/external customers

• Understand Fannie Mae, Freddie Mac, and FHA insurance guidelines, implementing changes to internal requirements and processes to ensure continued compliance and communication of all changes to all appropriate parties, including 3rd party vendor contractors

• Understand compliance and risk management requirements for supported area

• Participate in company initiatives or processes to assist in meeting its risk and capital objectives and other strategic goals

Required Qualifications:

• 6+ years of Corporate Insurable Risk Management, Risk Management Consulting, Property or Casualty Insurance, or Insurance Brokerage experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

• 3+ years of management experience

Desired Qualifications:

• 6+ years of Fannie Mae, Freddie Mac, and/or FHA Multifamily commercial insurance experience

• Familiarity with Fannie Mae DUS, Freddie Mac Optigo, and FHA MAP Guides

• 6+ years of Property and Casualty Insurance experience

• 6+ years of commercial real estate, commercial mortgage banking, or commercial mortgage loan servicing experience

• Familiarity with commercial real estate loan documents and pooling and servicing agreements

• Ability to research, compile, and perform complex analysis on insurance data

• Knowledge and understanding of compliance or risk

• Ability to independently provide summaries and make strategic recommendations

• Ability to prioritize work, meet deadlines, achieve goals, and wor