Insurance & Loss Draft Supervisor (Troy/Detroit, MI)

The Insurance Administration & Loss Draft Supervisor will be responsible for the management of property insurance monitoring and disbursing, lender placed insurance processes, and loss draft administration. The insurance and loss draft administration team (not limited to) manages property insurance disbursements, monitors insurance policies for adequate coverage, oversees the lender placed insurance notification process, and administers hazard claim and loss draft processes. This person will ensure insurance and loss draft duties are completed in accordance with regulatory requirements. This person is an industry expert who must have significant experience, knowledge, and understanding of escrow operations and administration as it relates to mortgage servicing. This individual will manage the training, staffing, and performance of their operational teams. This role involves ensuring compliance with regulatory requirements, optimizing operational processes, leading a team of escrow servicing professionals, and collaborating with other departments to deliver exceptional service.

Highly prefer employee to work on-site at Troy, MI office but may consider remote for the right candidate. 

ESSENTIAL DUTIES and RESPONSIBILITIES, includes the following responsibilities, but not limited to:

• Leadership and Management:
  • Oversee the hiring of the operational team.
  • Leads and manages the insurance and loss draft administration team, providing guidance, support, and professional development opportunities.
  • Implements performance goals and objectives for the team, regularly monitors progress and provides feedback.
  • Fosters a positive and collaborative work environment, encourages teamwork and open communication.
• Operational Oversight:
  • Oversees all aspects of tracking, monitoring, and disbursing insurance related to the servicing mortgage loans.
  • Manges the monitoring and disbursing of loss draft funds for mortgage loans.
  • Monitors various reports for verification of accurate insurance tracking with insurance vendors and the force placement of insurance, as applicable.
  • Serves as a subject matter expert and is tasked with the independent research and resolution of complex business issues related to insurance and loss draft.
  • Monitors flood zone changes reported by the vendor and ensures real estate collateral located in special flood hazard areas maintain adequate insurance coverage.
  • Processes pay files to disburse insurance premium payments from escrow.
  • Audits force place insurance billing for accurate placement on portfolio and processes any necessary refunds.
  • Resolves consumer and investor escalations, providing clear and accurate information.
  • Prepares and generates reports related to insurance and loss draft as required.
  • Manages the day-to-day performance of the insurance and loss draft administration team including ensuring that key performance metrics are met or exceed with budget.
  • Collaborates with other departments to resolve cross-functional issues.
• Regulatory Compliance and Oversight:
  • Ensures compliance with State, Federal, Regulatory, and Investor Requirements and guidelines, maintains up-to-date knowledge of internal policies and procedures, and understands how requirement changes affect the operations.
  • Assists in the management of oversight programs that monitor performance of vendors & third parties utilized in the processes.

• Meets established standards and guidelines with regard to compliance, job knowledge, quality, attendance, efficiency, initiative, and overall performance.

• Other projects and assignments as needed.

QUALIFICATIONS AND EXPERIENCE:

• Proven experience in end-to-end insurance and loss draft operations & managing an operational team.
• Knowledge of insurance and loss draft processes, industry standards, consumer protection laws & regulations impacting escrow operations areas.
• Ability to have a cross-functional impact across the servicing operation.
• Experience in navigating high-risk examinations & issue remediation efforts.
• Highly or