Insurance Administrator

Insurance Administrator

Area of Talent:   Administrative / Insurance

Position Type:    Full Time/Non-Exempt

Salary Range:    $50,000 to $60,000 annually

Office Location:  NYC/Financial District

About HDC

The New York City Housing Development Corporation (HDC) is a public benefit corporation and the nation's largest municipal Housing Finance Agency. HDC seeks to increase the supply of multi-family housing, stimulate economic growth, and revitalize neighborhoods by financing the creation and preservation of affordable housing for low-, moderate-, and middle-income New Yorkers.

Position Summary:

The Insurance Administrator plays a crucial role in supporting the daily servicing of the HDC portfolio of mortgages by evaluating insurance escrow accounts for proper funding and timely payments on behalf of the borrower. The Insurance Administrator serve as the primary contact with Insurance Brokers and Managing Agents with a focus on building strong relationships. The Insurance Administrator will also work closely with the Engineering team to complete any insurance claims accurately and efficiently. The Insurance Administrator will report to the Vice President of Loan Servicing.

Job Responsibilities:

• Obtains insurance certificates and invoices for property, liability, boiler and machinery, umbrella, fidelity, and other types of insurance at renewal on HDC and HPD properties.
• Manages insurance escrow: Reviews, pays insurance premiums, performs insurance escrow analysis, and updates insurance records in the servicing platform accordingly.
• Updates the system to reflect accurate Insurance Carriers ratings using AM Best.
• Monitors Mortgage Insurance Premiums to ensure HDC has the information required and approves payments for HUD, SONYMA, and REMIC.
• Coordinates insurance claim checks endorsements/funds releases with Asset Management Engineering Department.
• Coordinates arbitrage bills between Accounting, Hawkins Delafield and Wood, and the borrower.
• Performs other duties as assigned.

Required Qualifications:

• A bachelor’s degree from an accredited college in a related field and 1-3 years of administrative experience in insurance, escrow management, or loan servicing; or
• A satisfactory combination of education and/or experience that is equivalent to the above.
• Intermediate proficiency in Microsoft Office Suite (Excel, Word, Outlook).
• Questioning and deductive reasoning skills.
• Superior organization, analytic, and problem-solving skills with excellent attention to detail and ability to manage multiple tasks.
• Excellent communication skills, both written and verbal.
• Property & Casualty Insurance License a plus – willingness to obtain certification.
• Familiarity with HUD, REMIC, and SONYMA a plus.

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