Escrow Supervisor: Insurance & Escrow Analysis

Job Description

This position is fully onsite at our Ocala, FL office location.

Job Summary

The Escrow Supervisor – Insurance & Escrow Analysis plays a critical role in overseeing escrow functions related to insurance tracking and escrow analysis while ensuring compliance, accuracy, and a borrower-first approach. This position is responsible for managing the relationship with the insurance tracking vendor, overseeing lender-placed insurance, and minimizing borrower disruptions while maintaining regulatory and investor requirements. Additionally, the role ensures escrow analysis processes align with RESPA guidelines, validating calculations, identifying variances, and proactively working to mitigate payment shock for borrowers. The Escrow Supervisor will lead a team that prioritizes compliance, accuracy, and customer experience while fostering transparency and operational efficiency.

Core Competencies:

• Maintains highest level of professional behavior at all times even in stressful situations. Avoids behaviors, comments, and conversations that harm morale, productivity, customer satisfaction and teamwork.
• Meets confidentiality requirements related to company, customer and financial information.
• Communicates in writing, verbally and via email in a clear and positive way. Meets policy requirements governing communication content.
• Meets high-productivity requirements and constantly evaluates and prioritizes work throughout the day to meet frequent deadlines.
• Takes ownership of work and completes tasks projects accurately. Reviews and proofreads work thoroughly.
• Works well in a fast-paced team environment and communicates regularly with other team members to ensure deadlines are met.
• Remains up to date on best practices relevant to the position and uses work hours productively.

Supervisor Responsibilities

• Insurance Oversight: Manage and oversee the insurance tracking vendor, ensuring compliance with servicing agreements, investor guidelines, and regulatory requirements.
• Lender-Placed Insurance (LPI): Supervise processes related to lender-placed insurance, ensuring appropriate borrower notifications, regulatory compliance, and minimal borrower impact.
• Customer Experience & Issue Resolution: Work closely with internal teams and the insurance vendor to address borrower concerns, disputes, and escalations related to escrowed insurance.
• Escrow Analysis Compliance: Ensure escrow analysis processes adhere to RESPA regulations, including proper calculation of escrow shortages, surpluses, and timely borrower notifications.
• Accuracy & Payment Shock Mitigation: Validate escrow analysis accuracy and proactively manage processes to minimize payment shocks, ensuring a smooth experience for borrowers.
• Operational Efficiency & Controls: Implement and oversee internal quality control measures for escrow analysis and insurance tracking, ensuring compliance, efficiency, and risk mitigation.
• Cross-Department Collaboration: Work with Customer Service, Default, Cashiering, and Investor Reporting teams to ensure a cohesive borrower experience related to escrowed items.
• Vendor Performance Management: Hold the insurance tracking vendor accountable for SLAs, compliance, and service levels, while driving continuous improvements in borrower interactions.
• Reporting & Metrics: Monitor escrow-related performance metrics, identify trends, and provide recommendations for process improvements.
• Team Leadership & Development: Supervise and mentor a team of escrow professionals, providing guidance, training, and performance management to foster high performance and transparency.

Duties/Responsibilities

Insurance Oversight & Vendor Management

• Oversee the insurance tracking vendor, ensuring compliance with investor, regulatory, and company servicing requirements.
• Monitor lender-placed insurance (LPI) processes to ensure timely notifications and minimal borrower disruptions.
• Work with the vendor and internal teams to address insurance disputes, policy lapses, force-placed coverage, and borrower escalations.
• Ensure vendor service level agreements (SLAs) are met, implementing corrective actions when necessary.
• Identify and implement process improvements to enhance insurance tracking accuracy and customer experience.

Escrow Analysis & Compliance

• Oversee escrow analysis processes, ensuring adherence to RESPA guidelines and timely execution.
• Validate escrow calculations, reviewing shortages, surpluses, and projected disbursements for accuracy.
• Implement strategies to mitigate payment shock and minimize borrower impact during escrow analysis cycles.
• Ensure proper and timely communication with borrowers regarding escrow changes, shortages, and refunds.
• Work cross-functionally to resolve escrow-related disputes and escalations from borrowers or regulatory bodies.

Operational Controls & Reporting

• Maintain strong internal controls to ensure compliance, accuracy, and risk mitigation within escrow operations.
• Monitor and analyze escrow and insurance performance metrics, identifying trends and areas for improvement.
• Provide regular reporting to leadership on escrow and insurance-related activities, including key risk indicators and vendor performance.
• Collaborate with Compliance, Audit, and Legal teams to address regulatory requirements and audits.

Leadership & Team Development

• Lead and mentor a team of escrow professionals, fostering a culture of accountability, transparency, and high performance.
• Provide training and ongoing development opportunities to ensure the team is knowledgeable in RESPA compliance, insurance tracking, and escrow analysis best practices.
• Conduct performance evaluations, provide feedback, and implement action plans for continuous improvement.

Education, Experience and /or Skills

Education:

• Bachelor's degree in Business, Finance, Accounting, or a related field preferred; equivalent work experience in escrow servicing may be considered.
• Industry certifications (e.g., Certified Mortgage Servicer (CMS) or related credentials) are a plus.

Experience:

• 5 years of experience in mortgage servicing, escrow administration, or insurance tracking, with at least 2 years in a supervisory or leadership role preferred.
• Extensive knowledge of RESPA regulations, escrow analysis processes, and lender-placed insurance requirements.
• Proven experience managing third-party vendors, ensuring compliance with SLAs, investor requirements, and borrower protections.
• Strong background in risk mitigation, audit response, and compliance oversight related to escrow servicing.
• Experience leading and developing teams in a fast-paced, high-volume environment.
• Proficiency with mortgage servicing platforms (MSPs), escrow analysis tools, and reporting software.

Computer and Equipment Skills

• Intermediate in Microsoft Office programs (Word, Excel, PowerPoint)
• Word processing (speed and accuracy)
• MSP or FICS’ Mortgage Servicer a plus
• Email
• Internet software
• Use typical office equipment (computers, fax, phones, copiers, scanners, projectors, etc.)

Physical Requirement:

• Vision (with or without correction) sufficient to read a computer screen and to operate office equipment
• Clear speaking voice on the telephone, in person, and recorded
• Hearing within normal ranges in noise environments typical of office
• Able to sit for long periods of time at computer or other work-station and in meetings
• Able to use computers and operate equipment
• Able to lift 10 pounds occasionally unassisted

EEO Statement: As part of our dedication to the diversity of our workforce, Essex Mortgage is committed to a policy of Equal Employment Opportunity and will not discriminate against an applicant or employee on the basis of race, color, religion, national origin or ancestry, sex, gender, gender identity, gender expression, sexual orientation, age, physical or mental disability, medical condition, marital/domestic partner status, military and veteran status, genetic information or any other legally recognized protected basis under federal, state or local laws, regulations or ordinances.

Qualifications