Commercial Loan Post Closing Review Specialist

Busey Bank; United States; On-site; USD 29,000 - 36,000; Full time

Benefits offered by this job

401(k) match

Profit sharing

Employee stock purchase plan

Paid time off

Medical insurance

Dental insurance

Vision insurance

Life insurance

Disability coverage

Wellness incentives

Employee assistance program

Job summary

Busey Bank is hiring a Commercial Loan Post Closing Review Insurance Specialist in the United States. This role focuses on tracking insurance policies and monitoring collateral, supporting audits, and ensuring compliance with banking regulations.

Key tasks include liaison with the insurance vendor, obtaining documentation, updating reports, and processing insurance covenant exceptions, while collaborating with lenders and loan coordinators to address issues and maintain accuracy.

Qualifications

• Knowledge of various lending regulations.
• Strong organizational skills.
• Strong oral and written communication skills.
• Ability to multi-task and work independently.
• Analyze and solve problems for which there are not precedents.
• Perform duties under frequent time pressures.
• Education and Training: High School diploma; continuing education preferred.
• Minimum 1–2 years experience in commercial insurance or documentation preferred.
• Requires knowledge of Microsoft Office - Word, Excel, and Adobe.

Responsibilities

• Serve as the primary liaison with a third-party insurance vendor.
• Retrieve requested documentation from imaging system or vendor.
• Communicate with Lenders and Loan Coordinators regarding inadequate or forced placed insurance.
• Maintain forced placed insurance report and daily reports.
• Image insurance documents into the Bank's imaging system for Commercial Lending Division.
• Create, remove, and update exceptions items for insurance covenant tracking.
• Collaborate with insurance document research for audits.
• Comply with federal, state, and local regulations and company policies.
• Assist in special projects and other duties as assigned.

Skills

Lending regulations

Organizational skills

Oral and written communication

Multitasking

Problem solving

Independence

Education

High School diploma

Tools

Microsoft Word

Microsoft Excel

Adobe

Job description

Position Summary

The Commercial Loan Post Closing Review Insurance Specialist is part of the Post Closing Team in the Commercial Service Support Department. This position is primarily responsible for insurance policy tracking and insurance collateral monitoring. This position assists with collateral document research for audits, both internal and external.

Duties & Responsibilities

• Serve as the primary liaison with our third-party insurance vendor
• Retrieve any requested documentation from Bank's imaging system or other third-party insurance vendor
• Communicate with Lenders and Loan Coordinators regarding inadequate insurance and forced placed insurance
• Maintain forced placed insurance report from vendor, maintain daily reports, and handle any additional inquiries
• Responsible for imaging insurance documents into the Bank's imaging system for the Commercial Lending Division
• Creating, removing, and updating any exceptions items for insurance covenant tracking
• Collaborate with insurance document research for internal and external audits
• Comply with all federal, state, and local regulatory rules and regulations governing financial institutions, as well as company policies and procedures
• Assists in special projects and other duties as assigned

Education & Experience

• Knowledge of: Various lending regulations
• Strong organizational skills
• Strong oral and written communication skills
• Ability to: Multi-task and work independently
• Analyze and solve problems for which there are not precedents
• Perform duties and make decisions under frequent time pressures
• Education and Training: Requires High School diploma; continuing education preferred
• Minimum 1-2 years experience in commercial insurance or documentation preferred
• Requires knowledge of Microsoft Office - Word, Excel, and Adobe.
• Other bank proprietary systems helpful

Every day, our associates live Busey's core values, doing better business, building stronger relationships and creating thriving communities - while delivering meaningful value to shareholders.

Compensation and Benefits

Salary offered is based on factors, including but not limited to, the job duties, required qualifications and relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance. (Base Pay Range: $21 - $26/hr)

• Busey's Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program.
• In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts.

Visit Busey Total Rewards for more information.

Equal Opportunity

Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey's commitment of delivering extraordinary excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey's Equal Opportunity Employment.

Equal Opportunity Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey's commitment of delivering extraordinary excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey’s Equal Opportunity Employment.

Busey offers diverse employment opportunities - both remote and onsite in Arizona, Colorado, Florida, Illinois, Indiana, Kansas, Missouri, New Mexico, Oklahoma and Texas. We strive to place talent applicants in positions that fit both their skillset and career goals.

Unsolicited Resumes Busey Bank, and its subsidiaries, does not accept any liability for fees for resumes from recruiters or employment agencies ("Agency"), without a binding, written recruitment agreement between Busey and Agency describing the services and specific job openings ("Agreement"). Busey may consider any candidate for whom an Agency has submitted an unsolicited resume and explicitly reserves the right to hire those candidate(s) without any financial obligation to the Agency, unless an Agreement is in place. Any email or verbal contact with any Busey associate is inadequate to create a binding agreement. Agencies without an Agreement are requested not to contact any associates of Busey with recruiting inquiries or resumes. Busey respectfully requests no phone calls or emails.

Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey's commitment of delivering extraordinary excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey’s Equal Opportunity Employment. Every day, our associates live Busey's core values, doing better business, building stronger relationships and creating thriving communities - while delivering meaningful value to shareholders.