What are the responsibilities and job description for the Loan Insurance Escrow Specialist position at SouthState Bank, N.A.?
As a leading regional bank, SouthState has been providing financial solutions to individuals, families, and businesses in the Southeast for more than 100 years. SouthState team members strive to create remarkable experiences while building meaningful and lasting relationships. We are proud to be a reflection of the communities we serve, and our team members share core values that make SouthState a great place to bank, and a great place to work.
SUMMARY/OBJECTIVES
Responsible for maintaining continuous insurance coverage on Mortgage, Mobile Home, Commercial and Retail Loan Portfolio; processes escrow insurance payments; tracks flood zone changes. Responsible for updating and maintaining insurance information on core servicing system. Monitors reports and verification of accurate insurance tracking with vendor; processes force place insurance payments for insurance vendor. May assist with special initiatives or projects and support other areas within Loan Operations as needed; ensures compliance with SouthState Code of Business Conduct and Ethics and other operating procedures and policies.
ESSENTIAL FUNCTIONS
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Monitor flood zone changes reported by vendor; ensures all real estate collateral located in a special flood hazard area maintains adequate flood insurance coverage. Monitor insurance vendor reports for accurate insurance tracking. Update flood determination data on core system.
- Processes vendor pay file to disburse insurance premium payments from escrow. Process escrow insurance payments in timely manner to ensure continuous coverage.
- Audits force place insurance billing for accurate placement, correct premium charges to loan and refunds credited back to loan.
- Request insurance policies from Insurance companies and/or agents and submit to insurance vendor.
- Complete insurance vendor reports daily, weekly and monthly.
- Works and completes insurance related Source tickets from vendors, customers, lenders, and other bank personnel.
- Cross-train in areas within Loan Operations to provide support during changes in volume.
- Assists with development and regular review of procedures to improve operational efficiencies and to ensure adherence to bank policies and regulatory guidelines.
- Perform other related job duties and special projects as assigned
- Ensures compliance with the SouthState Bank Code of Business Conduct and Ethics, and other operating policies and procedures. Completes compliance training, and adheres to all Federal and State regulatory requirements.
The duties and responsibilities listed above may be revised at any time within the sole discretion of SouthState Bank without advance notice to or the consent of the employee.
OTHER DUTIES
- Accepts other duties as assigned.
COMPETENCIES
- Ability to handle confidential information (customers and employees); Strong interpersonal skills and the ability to work effectively both independently and within a team environment with minimal guidance; ability to communicate effectively (both orally and in writing); ability to maintain accurate records; ability to concentrate on details; ability to perform mathematical computations accurately; ability to adjust to a changing environment; ability to work under pressure and meet deadlines; ability to function harmoniously with management and employees of the Association; ability to provide quality customer service to internal and external clients; ability to provide support to the employees.
- Qualifications and Education Requirements
- Education: High School diploma required; Bachelor's degree preferred.
- Experience: A minimum of 2 years' experience in an operations role is required. Must be knowledgeable in all loan servicing functions including consumer, commercial and mortgage loans. Knowledge of Federal and State regulatory items is required. Experience with FiServ systems software is preferred.
- Knowledge: Proficiencies with Excel, Word, and other MS Office programs
TRAINING REQUIREMENTS/CLASSES
- Annual Compliance Training
- Fiserv training as needed to perform specific tasks
Supervisory Responsibility
This position does not include supervisory responsibility
PHYSICAL DEMANDS/WORK ENVIRONMENT
Must be able to sit for long periods of time. Must be able to effectively access and interpret information via various computer systems, documents, and reports.
TRAVEL
This position does not require travel.
CenterState Bank is an Equal Opportunity Employer Veterans/Disabled and will not discriminate against applicants or employees on the basis of race, color, religion, gender, sexual orientation, marital status, age, national origin, ancestry, gender identity, disability, genetic testing, service in the military, citizenship status or any other characteristics protected by federal, state or local law. CenterState also prohibits harassment of applicants or employees based on any of these protected categories.
