Insurance Administrator, Commercial Real Estate (Hybrid - Downtown Seattle, WA)

Salary Range:
$67,000.00 - $107,200.00
(Depending on knowledge, skills, abilities and location. Certain level jobs may be eligible for bonus, commission, and/or equity awards.)

Posting Date:
December 13, 2024
This job will be open and accepting applications for a minimum of three days from the date it was posted.

Benefits* worth writing home about:

• Medical, dental, and vision coverage for employees and their families
• Life, disability and family Leave
• 401(k) and Roth 401(k) with employer match
• Wellness program, employee assistance program, "Commute Trip Reduction" (CTR) and various employee discounts
• Generous vacation, sick leave, 11 paid holidays, and 16 hours of paid leave every year for community service work
• Free employee checking account and employee home loan discounts

*For eligible employees averaging 20 or more hours per week.

EO/AA Employer including Vets and Disabled.

Qualified applicants with arrest and conviction records will be considered in accordance with legal requirements.

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Job Description Summary:
Role is responsible to administer CRE's Insurance Policy and Procedures related to the servicing of HSB's $3.6B portfolio of 900+/- Commercial Real Estate loans. Loan portfolio includes direct and brokerage originated loans, loans held for sale, loans serviced for HSB balance sheet and loans serviced for third party investors, including Fannie Mae Multifamily. Position directly and frequently interacts with a wide range of parties, including income property borrowers, insurance and title companies, investors, auditors, other lenders and multiple vendors. Position supports CRE Origination and Asset Management areas, including providing training in insurance industry related topics.

Job Details:

Primary Functions:

• Periodically review and revise CRE Insurance Requirements for all CRE offered loan programs.
• Monitor and remain current on regulatory and investor insurance requirements, including but not limited to Fannie Mae Multifamily insurance guidelines, Special Flood Hazard Area designations, National Flood Insurance Programs, and lender forced placed insurance (FPI) programs.
• Develop and implement training program for CRE Loan Servicers, Asset Managers, Underwriters and Closers regarding insurance related materials.
• Oversee third party consultants engaged to review insurance policies at loan origination for compliance at closing, including reporting, quality controls, vendor compliance and periodic audit in accordance with HSB vendor management protocols.
• Manage HSB contracts with flood zone certification vendors, including period review, quality controls and audit as needed.
• Directly manage loan specific insurance related issues, including coverage exceptions, waivers, flood zone discrepancies, and FPI coverage matters.
• Develop and maintain written procedures for the effective tracking of insurance related data, including policy coverages, exceptions, renewals and expiration dates.
• Develop and maintain written procedures regarding the insurance escrow analysis process, including establishing periodic changes to annual insurance premium escalation amounts as appropriate.

• Work closely with CRE Loan Servicers, Closers and Underwriters to ensure Insurance standards are maintained, including periodic audit of files.
• Assist Asset Managers in insurance claim related activities as needed.
• Perform other related duties as assigned or requested.

Qualifications:

• High school graduate or equivalent. BA or BS preferred, with emphasis on risk management, commercial insurance underwriting, accounting, or finance.
• Minimum of 5 years' experience in commercial real estate lending/servicing and/or commercial real estate insurance underwriting, with thorough understanding of lender insurance requirements for all commercial property types.
• Demonstrate strong PC skills and experience with Microsoft Office, Outlook and Adobe applications.
• Ability to read and interpret commercial loan documents.
• Excellent verbal and written communication skills, including the ability to effectively manage customer phone/email inquiries, including compose professional correspondence.
• Possess good judgment, professional image, and the ability to accept responsibility and handle confidential information.
• Demonstrate strong attention to detail and high degree of accuracy.
• Demonstrate ability to work cooperatively with multiple team members and variable project deadlines.
• Ability to maintain regular and punctual attendance during business hours and work overtime as needed.

Preferred Skills:

• Prior experience with networked loan servicing platforms, McCracken Strategy®, Midland Enterprise!® or Backshop® preferred.
• Prior commercial insurance underwriting experience.
• Advanced Microsoft Excel experience.
• Prior experience with electronic document imaging platforms, such as OnBase®.

Mental and Physical Considerations:

• Able to operate a Personal Computer and view information on a monitor.
• Must be able to sit for many hours each day.
• Must be able to communicate via telephone and possess dexterity to include filing document, reaching and bending.
• May be required to stand for extended periods of time.
• Ability to lift or carry up to 10 pounds
• Ability to speak and understand English and express ideas and have difficult conversation in person and over the telephone
• Ability to listen and comprehend speech.
• Ability to problem solve, make decisions, interpret data and information, read, write and organize information in an orderly manner.
• Willing and able to travel occasionally as needed.

Work Environment:

• Normal business office environment.
• Ability to work in artificial light for extended periods of time

This Position Description may not be limited to the Functions and Requirements as outlined, now or in the future. For example, changes in corporate needs, position demands, or individual performance may result in changes to the Functions or Requirements of this position.

Area:
Administrative and Business Operations (Sales)