What are the responsibilities and job description for the Mgr I – LSAM position at KeyBank?
Location:
11501 Outlook Street - Overland Park, Kansas 66211
Under the direction of the department manager, the person in this position is responsible for acting in the most timely, efficient and responsible manner to protect the interest of the investors pursuant to the mortgages serviced for them. The duties specifically relate to all insurance matters. (There can be serious and substantial losses incurred by either the investor or KeyBank if insurance coverage is not adequate and in force at all times.) This is accomplished within the parameters of individual investor guides, Pooling and Servicing Agreements, applicable law and the mortgage documents.
Essential Job Functions
Conduct periodic audits of the insurance loan-servicing file looking for special conditions, non-compliant items and requirements that may be problematic, bringing them to the attention of the Insurance Supervisor. Follow through to obtain compliance on non-compliant findings.
Provide support to the Insurance Supervisor in the organizing and gathering of data needed for the preparation of insurance waivers and assist in the preparation of and completion of the waiver write up.
Assist Insurance Supervisor with the review and approval of assumptions.
Act as resource and assist Insurance Specialist as needed in reviewing operating statements, loan documents, appraisals and insurance policies to determine compliance with loan agreement.
Assist Insurance Supervisor with training as needed and assigned.
Manage and ensuring the data contained in the servicing system is updated to reflect the current status regarding insurance policy effective dates and coverage amounts and proper loan review documentation as required are completed in the Insurance System for all loans.
Assist Insurance Supervisor in managing the disbursement of the payment of all insurance premiums for which there are escrow funds being held and any force place insurance premiums.
Assist the Insurance Specialist in collecting the necessary documentation to determine that all non-escrowed Agency loans have adequate insurance policies in force.
Review and oversee any forced place insurance coverage that is required on the entire Portfolio due to inaction of the borrower.
Assist the Insurance Supervisor in overseeing and administering all casualty losses incurred on the entire portfolio. This includes, but is not limited to, analyzing the severity of the loss by reviewing loss affidavits, engineering reports, etc.,
Direct and monitor correspondence with borrowers, insurance agents, and insurance companies to resolve any issues or discrepancies related to insurance on the entire Portfolio.
Marginal Or Peripheral Functions
Prepare monthly Insurance Status Report for Insurance Supervisor and ensure expired coverages are addressed and resolved.
Assist Insurance Supervisor in managing carrier rating downgrades to assure compliance is received from borrowers.
Review various queries to determine and resolve insurance and other loan-related issues.
Maintain database for loan information for the Agency portfolio and others as needed.
Interact with internal departments and external customers as needed to resolve any issues or discrepancies related to insurance.
Train new employees.
Assist the department supervisor with other duties as assigned.
Required Qualifications
Minimum five years broad based commercial property and liability insurance experience.
Legal document review and interpretation.
Extensive knowledge of the various types of commercial property insurance policies.
Excellent verbal and written communication skills.
Four-year college degree and/or seven years commercial property and liability insurance
experience.
Ability to work independently on multiple projects.
Preferred Qualifications
Seven Year Commerical Property and Liability Insurance experience.
Three Years Commercial loan servicing experience
Experience with McCracken/Strategy loan servicing system.
Four-year college degree.
Ability to multi-task effectively.
Ability to manage change and foster teamwork
Ability to function in a “deadline driven” environment and prioritize responsibilities.
Ability to work in a team environment and motivate others.
Strong interpersonal skills and professional conduct
Strong analytical skills
Detail oriented.
Strong communication skills.
Writing ability.
Efficient in the use of Microsoft Excel and Microsoft Word.
EQUIPMENT USED
P.C.
Standard office equipment (phone, fax, copier, calculator)
Training Required
On the job as required.
Job Posting Expiration Date: 06/27/2025 KeyCorp is an Equal Opportunity Employer committed to sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status.
Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.
11501 Outlook Street - Overland Park, Kansas 66211
Under the direction of the department manager, the person in this position is responsible for acting in the most timely, efficient and responsible manner to protect the interest of the investors pursuant to the mortgages serviced for them. The duties specifically relate to all insurance matters. (There can be serious and substantial losses incurred by either the investor or KeyBank if insurance coverage is not adequate and in force at all times.) This is accomplished within the parameters of individual investor guides, Pooling and Servicing Agreements, applicable law and the mortgage documents.
Essential Job Functions
Conduct periodic audits of the insurance loan-servicing file looking for special conditions, non-compliant items and requirements that may be problematic, bringing them to the attention of the Insurance Supervisor. Follow through to obtain compliance on non-compliant findings.
Provide support to the Insurance Supervisor in the organizing and gathering of data needed for the preparation of insurance waivers and assist in the preparation of and completion of the waiver write up.
Assist Insurance Supervisor with the review and approval of assumptions.
Act as resource and assist Insurance Specialist as needed in reviewing operating statements, loan documents, appraisals and insurance policies to determine compliance with loan agreement.
Assist Insurance Supervisor with training as needed and assigned.
Manage and ensuring the data contained in the servicing system is updated to reflect the current status regarding insurance policy effective dates and coverage amounts and proper loan review documentation as required are completed in the Insurance System for all loans.
Assist Insurance Supervisor in managing the disbursement of the payment of all insurance premiums for which there are escrow funds being held and any force place insurance premiums.
Assist the Insurance Specialist in collecting the necessary documentation to determine that all non-escrowed Agency loans have adequate insurance policies in force.
Review and oversee any forced place insurance coverage that is required on the entire Portfolio due to inaction of the borrower.
Assist the Insurance Supervisor in overseeing and administering all casualty losses incurred on the entire portfolio. This includes, but is not limited to, analyzing the severity of the loss by reviewing loss affidavits, engineering reports, etc.,
Direct and monitor correspondence with borrowers, insurance agents, and insurance companies to resolve any issues or discrepancies related to insurance on the entire Portfolio.
Marginal Or Peripheral Functions
Prepare monthly Insurance Status Report for Insurance Supervisor and ensure expired coverages are addressed and resolved.
Assist Insurance Supervisor in managing carrier rating downgrades to assure compliance is received from borrowers.
Review various queries to determine and resolve insurance and other loan-related issues.
Maintain database for loan information for the Agency portfolio and others as needed.
Interact with internal departments and external customers as needed to resolve any issues or discrepancies related to insurance.
Train new employees.
Assist the department supervisor with other duties as assigned.
Required Qualifications
Minimum five years broad based commercial property and liability insurance experience.
Legal document review and interpretation.
Extensive knowledge of the various types of commercial property insurance policies.
Excellent verbal and written communication skills.
Four-year college degree and/or seven years commercial property and liability insurance
experience.
Ability to work independently on multiple projects.
Preferred Qualifications
Seven Year Commerical Property and Liability Insurance experience.
Three Years Commercial loan servicing experience
Experience with McCracken/Strategy loan servicing system.
Four-year college degree.
Ability to multi-task effectively.
Ability to manage change and foster teamwork
Ability to function in a “deadline driven” environment and prioritize responsibilities.
Ability to work in a team environment and motivate others.
Strong interpersonal skills and professional conduct
Strong analytical skills
Detail oriented.
Strong communication skills.
Writing ability.
Efficient in the use of Microsoft Excel and Microsoft Word.
EQUIPMENT USED
P.C.
Standard office equipment (phone, fax, copier, calculator)
Training Required
On the job as required.
Job Posting Expiration Date: 06/27/2025 KeyCorp is an Equal Opportunity Employer committed to sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status.
Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.
