What are the responsibilities and job description for the Insurance Officer position at City National Bank?
INSURANCE OFFICER
WHAT IS THE OPPORTUNITY? Oversee that Bank policies and procedures are followed as it pertains to Insurance tracking and regulatory monitoring by ensuring compliance with industry and government rules and regulations on insurance most notably Flood insurance. Ensure that related systems associated with Insurance tracking system are adequate, efficiently functional, and coordinate efforts with other systems business units to identify and resolve processing issues. This position calls for high level interaction with Bank management as well as vendors and insurance company agents.
What you will do
- Ensure that the unit is complying with all aspects of insurance tracking and monitoring; this includes follow-up, maintenance, exception processing and compliance with regulations and procedures.
- Review, interpret, and approve different types of insurance policies, provide approval and determine specific insurance requirements for insurable collateral for all loan types.
- Provide guidance and direction to lenders and documentation personnel to cure insurance deficiencies.
- Emphasize and execute procedures for force placement of insurance and manage relationships with Bank contracted vendors for this purpose.
- Ensure that all Bank managed Escrow accounts for insurance purposes are monitored for timely payment of insurance premiums.
- Identify and evaluate Insurance Tracking System issues and work with Information Services to see issues through to resolution.
- Interface with Internal Audit, Compliance and external regulatory agencies such as the OCC and FEMA.
- Establish and maintain strong data integrity within CNB and vendor tracking systems.
- Consult with Legal Dept. and or Credit Administration to validate, clarify and execute policies and procedures.
- Maintain a proactive committed approach to such programs as CustomerFirst, Community Reinvestment Act (CRA) and Equal Employment Opportunity.
- Manage special projects independently.
Must-Have
Skills and Knowledge
Compensation Starting base salary : $24.46 - $36.69 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and / or commissions.
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Benefits and Perks At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.'
ABOUT CITY NATIONAL We start with a basic premise : Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies.
Salary : $24 - $37
