Insurance Escrow Specialist

River Run; Newburyport (MA); Presencial; USD 55 000 - 75 000; Tempo integral

Resumo da oferta

River Run in Newburyport (MA) seeks an Insurance Escrow Specialist to manage escrow analyses, insurance payments, and PMI, ensuring compliance with federal and state lending regulations. The role requires precision, strong documentation, and collaboration with Compliance and Insurance Tracking teams.

The position emphasizes timely reporting on flood tracking and insurance status, BSA compliance, and maintaining up-to-date knowledge of bank products and procedures.

Qualificações

• Requires a high school diploma and 5 years in a professional office with escrow experience.
• Knowledge of RESPA, HOEPA, and Biggert-Waters flood regulations is preferred.
• Strong customer service, accuracy, and ability to work independently or in a team.

Responsabilidades

• Perform annual escrow analyses and ensure regulatory compliance.
• Process insurance and PMI payments and monitor flood insurance coverage.
• Review PMI cancellations and coordinate with insurance tracking services.
• Support reporting and maintain accurate records and customer communications.

Conhecimentos

Customer service

Attention to detail

Teamwork

Formação académica

High school diploma

Ferramentas

Word processing

Spreadsheet

Descrição da oferta de emprego

Description

River Run is a shared services organization that supports banking affiliates, Newburyport Bank, Pentucket Bank and Rollstone Bank & Trust.

Insurance Escrow Specialist ensures accurate and timely management of insurance escrow accounts by completing annual escrow analyses, processing insurance, and private mortgage insurance (PMI) payments, and monitoring property insurance status in compliance with regulatory requirements. Prepares monthly and quarterly reports on flood tracking and insurance status, ensuring all collateral is properly insured and payments are made in accordance with applicable regulations.

Essential Job Functions

• Completes annual escrow analysis for all loans to ensure compliance with applicable regulatory requirements.
• Manages insurance and PMI payments to ensure all payments are completed in a timely manner and tracks open insurance loss proceeds and approves disbursements in accordance with investor guidelines.
• Review and process PMI cancellation requests and automatic cancellations, ensuring compliance with regulatory requirements and investor guidelines and reviews flood insurance at time of renewal to ensure sufficient coverage, and completes Private Flood Insurance review as needed.
• In coordination with Insurance Tracking Service, monitors status of property insurance and force-placement process to ensure that all collateral is properly insured.
• Supports quarterly flood tracking and reporting to Compliance Committee.
• Actively stays current on all Bank products, services, procedures, policies, and applicable regulatory and compliance requirements by regularly attending team meetings, completing mandatory training on schedule, and applying knowledge to ensure accuracy and compliance in daily operations.
• Ensures adherence to federal and state laws, regulations, and bank policies by preventing violations, minimizing risks, and safeguarding the Bank’s interests.
• Verifies transactions and account balances, ensuring compliance with bank policies and state and federal regulations and the Bank Secrecy Act (BSA), as applicable to the role.

Requirements

Qualifications, Experience, and Education

• High school diploma.
• Minimum of 5 years of experience in a professional office environment within a lending-related function, preferably with a focus on escrow.
• Basic knowledge of state and federal regulations governing lending, including the Real Estate Settlement Procedures Act, Homeowners Protection Act, and the Biggert-Waters Flood Insurance Reform Act.
• Basic knowledge of word processing, spreadsheet, and other office applications, strong customer service skills, and attention to detail.
• Ability to work successfully both independently and as a member of a team.

River Run Services, LLC is an Equal Opportunity Employer and all qualified applicants will receive consideration for employment without regard to race, color, ancestry, national origin, gender, sexual orientation, marital status, religion, age, disability, gender identity, results of genetic testing or service in the military.

If you are an individual with a disability and require a reasonable accommodation to complete the application process, you may contact Human Resources at [e-mail] or call 978-462-3136.

The salary range represents an estimate based on market data for this position. Final compensation decisions are made based on experience, skills, and internal equity to ensure fairness and consistency across our organization