What are the responsibilities and job description for the Commercial Insurance Analyst II - Commercial Real Estate Finance (Minneapolis) position at NorthMarq Capital?
Position Responsibilities
- Plan and schedule own workload to most efficiently meet benchmarks, prioritizing according to risk and urgency with minimal supervision.
- Provide premier customer service to investors, borrowers, agents, and other Northmarq staff. Understand others’ complex or underlying needs, motivations, or concerns and effectively communicate with all parties despite the sensitivity of the situation.
- Conduct due diligence of loan documents and lender requirements to ensure proper loan setup and servicing of the loan.
- Monitor and collect Evidence of Insurance, upon expiration.
- Audit insurance certificates and policies to ensure conformity with investor and company regulations at renewal, interpreting complex policy language to ensure proper policy performance and compliance.
- Maintain and update commercial mortgage insurance files and servicing system files.
- Identify potential risks for the company and the investor and promptly notify the appropriate parties following identification of any coverage issue, deficiency, or lapse in coverage.
- Maintain a high level of commercial insurance expertise, quality, understanding of risk, and possible outcomes due to coverage non-compliance.
- Analyze insurance deficiencies, corresponding risks, and possible impacts on property financial performance.
- Prepare comprehensive written analyses for investor and / or management review, including insurance waiver requests and applicable coverage deficiencies, to facilitate a discussion with respect to the potential risk(s) should coverage be excluded, unavailable, or not purchased by the borrower.
- Reach prompt and satisfactory resolution of insurance non-compliance, or other issues.
- Monitor and update monthly loan reports utilized by investors and management to analyze portfolio risk, with minimal feedback from the Supervisor.
- Review borrower requests / loan events following notification, ensuring continued insurance compliance. Requests include : Partial Release Condemnation Modification Transfer of Ownership Management Change
- Serve on procedure committees, annually updating company guidelines for Insurance job responsibilities.
- Demonstrate understanding of the new loan insurance process, timeline, and procedure(s).
- Perform other reasonable tasks / projects, as assigned.
What We're Looking For :
Northmarq offers a highly competitive benefits package including : medical, dental, vision, paid time off, 401K match and an annual discretionary contribution based on business performance, paid parental leave and adoption assistance, education assistance, volunteer paid time off, charitable contribution match and so much more!
