Insurance Analyst, Insurance Production

Description

An Insurance Analyst is responsible for the pre-closing compliance reviews of our loan portfolio. This position requires a detail-oriented, deadline-driven individual who can work individually, with members of other teams and with his/her own team to manage multiple tasks and projects simultaneously. This position will have extensive internal and external customer interaction.

Requirements

• Work with Merchant Capital’s production team, underwriting team, closing team and Insurance Consultants during the prefunding insurance review process.
• Manage vendor relationships, including but not limited to, engage consultants to begin the insurance review process, participate in weekly progress calls, manage timelines/deadlines of your portfolio.
• Point of contact on insurance questions, coverage requirements and investor guidelines for both internal and external stakeholders.
• Review Loan Documents, Appraisals, Engineering, Seismic, Zoning and Phase I Environmental Reports to determine loan-specific insurance requirements.
• Identify potential risk for the company and the investor and promptly notify the appropriate parties following identification of any coverage issue or deficiencies.
• Assist with processing Insurance waivers/exceptions with supporting documentation for non-compliant insurance issues.
• Prepare closing folder for loan boarding and loan administration.
• Onboard new loans in the servicing system and prepare the documents for hand-off to the insurance renewal team.
• Compile data samples for department and/or lender audits, as requested by manager.

Expected Experience, Skills and Education:

• Bachelor’s degree, preferably in the business or finance areas; or insurance related industry designations or equivalent experience
• Minimum of 1-2 years of insurance experience 
• Some knowledge of Commercial Insurance Coverage – Property, (including Flood, Wind, Earthquake and Terrorism), General Liability (including Workers Comp and Auto), Professional Liability and Umbrella/Excess Liability Insurance.
• Familiarity with Agency and Lenders (Fannie Mae, and Freddie Mac) programs a plus.
• Requires problem solving skills as well as the initiative to troubleshoot and find resolutions.
• Requires excellent communication skills, written and oral, through all levels of the organization.
• Must demonstrate the ability to identify, interpret and apply applicable guidelines in managing assigned processes.
• Must possess strong organization and communication skills with a focus on accuracy and attention to detail.
• Must demonstrate the ability to successfully schedule own workload to meet multiple deadlines most efficiently. Ability to prioritize workload according to risk and urgency.
• Ability to work well as part of a team while also capable of self-motivation and strong individual performance.
• Provide premier customer service to investors, borrowers, agents and co-workers.
• Ability to maintain a positive attitude in all situations.
• Requires high level of computer proficiency in Microsoft Office, specifically regarding Outlook, Word and Excel. 

With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multifamily housing nationwide. Our licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways. Recognized as a top five affordable lender, Merchants Capital pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners. To learn more about Merchants Capital, visit www.merchantscapital.com.