Insurance Analyst

Job Type

Full-time

Description

The Insurance Analyst is responsible for the compliance reviews of the GSE, HUD, RHS and/or Merchants Bank of Indiana (MBII) multifamily loan portfolio. This position requires a detail-oriented, deadline-driven individual who can work individually, with members of other teams as well as with his/her own team to manage multiple tasks and projects simultaneously. This position will have extensive internal and external customer interaction.

Expected Outcomes:

Success in this position will produce efficient, high-functioning portfolios ensuring accuracy and compliance while providing excellent customer satisfaction.

Requirements

• Review Loan Documents, Appraisals, Engineering, Seismic, and Phase I Environmental Reports to determine loan-specific insurance requirements.
• Input and maintain data using SS&C PLM.
• Point of contact on insurance questions, coverage requirements and investor guidelines.
• Conduct due diligence of loan documents to ensure proper loan setup and servicing of the loan.
• Identify potential risk for the company and the investor and promptly notify the appropriate parties following identification of any coverage issue, deficiency, or lapse in coverage.
• Perform annual review of insurance certificates, statement of values and invoices to determine compliance with Investor guidelines.
• Audit insurance policies to ensure conformity with investor compliance.
• Process Insurance waivers/Exceptions with supporting documentation for non-compliant insurance issues.
• Pursue and obtain invoices, paid receipts and evidence of insurance on assigned portfolio.
• Ability to manage assigned tasks and workload according to deadlines.
• Ability to adapt to changes and ability to prioritize/manage desk workload.
• Ability to show ownership of your work, take on challenges and acknowledge growth opportunities, and demonstrate patience when learning new processes.

Expected Experience, Skills and Education:

• Bachelor's degree, preferably in the business or finance areas; or insurance related industry designations with direct experience and demonstrated ability to perform the required tasks.
• Minimum 1 year of insurance experience in multifamily loan administration preferred.
• Clear 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 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 most efficiently meet multiple deadlines and manage assigned portfolio, prioritizing according to risk and urgency.
• Ability to work well as part of a team while also capable of self-motivation and strong individual performance.
• Providing premier customer service to investors, borrowers, agents and co-workers.
• Demonstrate continued growth and development towards a senior role in the department.
• Ability to maintain a positive attitude in all situations.
• Requires high level of computer proficiency in Microsoft Office, specifically regarding Outlook, Word and Excel.

ABOUT MERCHANTS CAPITAL

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 .