Operations Associate, Commercial Insurance Monitoring

Operations Associate, Commercial Insurance Monitoring

Commercial Insurance Monitoring is part of the Commercial Insurance Team within Commercial Loan Operations. This team supports multiple lines of business in Commercial Banking and Small Business in managing Life of Loan insurance due diligence and monitoring.  

Join and be a part of this exciting team to drive flood compliance, Insurance standard adherence and efficiency across Commercial Banking.

Responsibilities include:

• Comply with Commercial Banking Flood Insurance and Hazard Insurance Procedures; ensure appropriate insurance regulatory requirements are met.

• Analyze collateral types and conduct appropriate flood due diligence review on eligible real estate collateral. 

• Work with the flood vendor to evaluate and resolve flood zone disputes when needed.

•  Obtain confirmation of contents collateral value; perform flood insurance replacement cost value analysis; secure adequate insurance coverage and complete appropriate flood insurance calculator and checklist in a timely manner.

• Coordinate with third-party insurance consultants to secure proper insurance coverage.

• Review insurance policies, loan documents and third-party evaluation reports (i.e. appraisal, environmental report, title insurance policy and survey etc.) to ensure collateral is  appropriately vetted and reviewed.  

• Coordinate with insurance agents, borrowers and  insurance consultants to secure proper insurance coverage.  

• Work closely with Underwriters, Commercial Closing Team and the Compliance organization to ensure the internal/external Flood Insurance and Hazard Insurance requirements are met.

• Provide portfolio support including flood and nonflood workflow case peer review/quality control.  Support the team metrics, reports, and ad-hoc projects.

• Work independently in identifying, researching, solving, and responding to flood and nonflood review requests, inquiries, and problem situations in a timely manner.

• Meet process control requirements; maintain formal process documents (e.g. procedures, job aids & guides); engage in process improvement efforts and cross-training.

• Other duties as assigned.

Basic Qualifications:

• High School Diploma, GED or Equivalent Certification 

• At least 1 year of experience in financial services, banking, or insurance

• At least 1 year of experience with Microsoft Office (Outlook, Excel, Word, PowerPoint) or Google Suite (Sheets, Slides, Docs)

Preferred Qualifications:

• Bachelor’s Degree or Military Experience

• 2+ years of experience in commercial banking

• 2+ years of experience working with mortgage loan documents and insurance insurance documents. 

At this time, Capital One will not sponsor a new applicant for employment authorization for this position.

#CommOps

The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.

Richmond, VA: $64,700 - $73,900 for Ops Associate

 

 

 

 

 

 

 

 

 

 

Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate’s offer letter.

This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI). Incentives could be discretionary or non discretionary depending on the plan.

Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being. Learn more at the Capital One Careers website. Eligibility varies based