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Insurance Compliance Administrator - Commercial Real Estate - Bloomfield Hills, MI

Req ID: W458624
Job Description
Cohen Financial is an integrated full service provider of capital related products and services to the commercial real estate industry. This position will support the Investor Services department and serves as the primary resource for insurance monitoring, compliance and process improvement. Specific responsibilities include, but are not limited to:
Technical Compliance:
Review, analyze and interpret all types of property and liability insurance policies for commercial real estate loans to ensure compliance with loan documents, investor requirements, government regulations (FNMA, FHLMC and FHA/GNMA) and internal policies and procedures
Review replacement cost and loss of income calculations for commercial real estate insurance policies to ensure compliance with loan documents and investor guidelines
Review and analyze any forced place insurance coverage that is required due to inaction of the borrower
Review casualty losses incurred on commercial properties and advise internal and/or external clients regarding insurance coverage and loss proceed requirements relating to those casualties
Correspond, as necessary, with borrowers, insurance agents, and insurance companies to resolve any loan compliance issues or discrepancies related to insurance
Subject matter expert who can be a resource for other associates relating to insurance
Process Compliance:
Monitor the insurance process and ensure that proper insurance coverage is in place for the commercial real estate properties securing loans serviced by the department as required by the loan documents, investor requirements, government regulations and internal policies and procedures
Work closely with management and staff to ensure compliance with policies and procedures relating to insurance including, but not limited to, collection of insurance certificates (ACORD form) and/or policies, payment of premiums, monitoring expirations, etc.
Recommend enhancements to insurance related processes that reduce risk and increase efficiencies
Monitor and ensure the data contained in the loan servicing system, as well as investor and GSE (Government Sponsored Enterprise) websites, is updated to reflect the current status regarding insurance policies including, but not limited to, effective dates, coverage amounts, etc.
Oversee the process for securing any forced place insurance coverage that is required due to non-compliance with loan agreements
Review forced place policies and advise management regarding costs, coverage and risks associated with those policies
Assist internal resources in determining that all non-escrowed real estate loans have adequate insurance policies in force
Interact with internal resources, as needed, to resolve any issues or discrepancies related to insurance
Assist with the coordination of insurance matters relating to servicing transfers ? incoming and outgoing
Must be a team player and have the willingness to help others when needed
Achieve or exceed minimum training hours as stated in the department?s policy
Some travel may be required
Other duties as assigned
Eligible to manage or perform loan origination or servicing functions under Mortgage Investor or government agency guideline requirements.
Qualifications
Required Skills / Qualifications:
Extensive knowledge of the various types of commercial property insurance policies
Insurance compliance background including, but not limited to, coverage discrepancies, industry standards and government regulations
Strong written and verbal communication skills
Demonstrated ability to work with employees and customers at all levels within an organization
Strong PC skills, including a demonstrated proficiency with Microsoft Office applications
Professional and polished demeanor
Excellent time management skills with a demonstrated ability to multi-task, follow through on commitments, meet deadlines and drive results
Ability to work well under pressure and within tight time constraints, including the ability to work overtime if required
Strong customer service skills
Desired Skills / Qualifications:
Commercial multifamily insurance compliance background relating to FNMA, FHLMC and FHA/GNMA
Prior commercial real estate loan servicing experience
Commercial insurance agency or insurance carrier work experience
Preferred Requirements:
4 year degree in business, real estate, finance, accounting or related field AND 10+ years prior commercial real estate loan servicing experience
Advanced Microsoft Excel experience and ability to create reconciliations and financial calculations without the use of existing templates
Hands-on experience with Fannie Mae and Freddie Mac multifamily insurance requirements.
10+ years commercial real estate loan servicing experience
Equal Opportunity Employer: SunTrust supports a diverse workforce and is a Drug Testing and Equal Opportunity Employer. SunTrust does not discriminate against individuals on the basis of race, creed, color, gender, religion, national origin, age, disability, veteran status, pregnancy, marital status, citizenship status, sexual orientation, gender identity, genetic information, or any other classification protected by applicable laws.
To review the EEO Poster, copy and paste the following link into your browser: http://www1.eeoc.gov/employers/upload/eeoc_self_print_poster.pdf http://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf
? 2017 SunTrust Banks, Inc. All rights reserved.
SunTrust is federally registered service marks of SunTrust Banks, Inc.


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