Sr. Escrow Insurance Specialist Cathay Bank - 3.1 Rosemead, CA Job Details Full-time $27.88 - $37.98 an hour 20 hours ago Benefits Health savings account Disability insurance Health insurance Dental insurance 401(k) Flexible spending account Vision insurance Life insurance Qualifications Escrow Confidential information handling Phone communication Word processing Spreadsheets Writing skills Windows High school diploma or GED Mainframe Full Job Description People Drive Our Success Are you enthusiastic, highly motivated, and have a strong work ethic? If yes, come join our team! At Cathay Bank - we strive to provide a caring culture that supports your aspirations and success. We believe people are our most valuable asset and we proudly foster growth and development empowering you to achieve your professional goals. We have thrived for 60 years and persevered through many economic cycles due to our team members' drive and optimism. Together we can make a difference in the financial future of our communities. Apply today! What our team members are saying: Video Clip 1 (https://youtu.be/ntD01JTEmic) Video Clip 2 (https://youtu.be/R49hxuriKK4) Video Clip 3 (https://youtu.be/Fd61I9F0sDY) Learn more about us at cathaybank.com

GENERAL SUMMARY

Under the general direction of the Loan Servicing Supervisor, the Loan Servicing Insurance Specialist is responsible for the timely review and payment of consumer and commercial hazard and flood insurance, confirming sufficient coverage, and arranging for payment of the insurance through the escrow account. The Loan Servicing Insurance Specialist will also be responsible for ordering and reviewing flood determinations, analyzing and determining the amount of flood insurance required for new loans and renewal policies in compliance with Bank and Regulatory policies.

DIRECT REPORTS

The Loan Servicing Insurance Senior t has no direct reports

ESSENTIAL FUNCTIONS

Monitors insurance expirations to ensure receipt of evidence of renewal or replacement insurance coverage prior to expiration Reviews and maintains Insurance Expiration Tracking reports on a daily basis Ensure that flood insurance expiration reminder letters are mailed to Borrowers according to established procedures Collects evidence of renewals or replacement coverage prior to expiration of the existing coverage Reviews insurance policies for accuracy and adequate coverage Resolves information gaps by contacting carriers and agencies to gather policy information and other missing data and update systems as appropriate Works with insurance vendor for ordering and cancelling force place insurance for escrowed accounts, ensures disbursement of payments for hazard, and flood, are paid when due and IBS system is updated accordingly. Prepares calculation worksheets to verify adequate coverage amount for flood policies Processes in-coming new insurance loss requests by properly obtaining appropriate claim information and providing initial service to customers by explaining the claim process and following through to completion of the repairs Properly documents all claim activity to support the outcome of the claim and saved documents to the imaging system Orders and reviews flood determinations for both single and multiple buildings Prepares flood calculation worksheet for both single and multiple properties/ buildings prior to funding of new loan and when renewal policies are received Reviews various system-generated reports to ensure accuracy of loan system, accounting and maintenance as needed to clear errors Ensures all insurance related documents and correspondence are upload to the imaging system Assist with the training of new employees on all insurance functions Coordinate projects with team when assigned by supervisor Ensure all job aids and procedures are updated timely Ensures monthly metrics are updated for management.

QUALIFICATIONS

Education:

High school graduate or equivalent. Education or experience should include courses in accounting and/or bookkeeping.

Experience:

3+ years in loan servicing with direct experience with escrow and insurance servicing preferably with knowledge of flood determination and flood insurance review for both single family and multiple buildings and properties

Skills/Ability:

Self-motivated with ability to work independently, prioritize and meet deadlines, and possess excellent follow-through skills. Proven ability to think independently and make recommendations. Possess good judgment, professional image, and the ability to accept responsibility and handle confidential information. Excellent follow-through skills. Possess good written and verbal communication skills, with ability to express self clearly and effectively in writing as well as on the telephone Knowledge of basic accounting. Working knowledge of MS Windows, PC spreadsheets and PC word processing. Familiarity with networked computer systems and mainframe.

Pay Range:

$27.88 - $37.98 Pay determined based on job-related knowledge, skills, experience, and location. This position may be eligible for a discretionary bonus. Cathay Bank offers its full-time employees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes, coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, and flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k). Cathay Bank may collect personal information from potential job candidates and applicants. For more information on how we handle personal information and your applicable rights, please review our California Job Applicant Privacy Policy (https://www.cathaybank.com/CA-job-applicant-privacy-notice). Cathay Bank is an Equal Opportunity and Affirmative Action Employer. We welcome applications for employment from all qualified candidates, regardless of race, color, ethnicity, ancestry, citizenship, gender, national origin, religion, age, sex (including pregnancy and related medical conditions, childbirth and breastfeeding), reproductive health decision-making, sexual orientation, gender identity and expression, genetic information or characteristics, disability or medical condition, military status or status as a protected veteran, or any other status protected by applicable law. Click here to view the "

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