Loan Servicing Insurance Specialist III

Peoples-Bank; Newton (NC); On-site; USD 48,000 - 68,000; Full time

Job summary

Peoples-Bank is seeking an Insurance Servicing Associate to manage collateral and flood insurance policies for loans, handle insurance disbursements for escrowed accounts, and manage renewals and cancellations. The role requires attention to detail and strong communication with borrowers, agents, and internal teams.

The candidate will work with imaging processes, ensure document quality, and support audits and regulatory requirements while maintaining service level standards.

Qualifications

• A high school diploma or equivalent is required.
• Associates degree in a two-year college in business-related field preferred.
• 2+ years’ experience in an insurance field/environment preferred.

Responsibilities

• Reviewing, tracking and maintaining collateral and flood insurance policies.
• Prepare insurance disbursements/payments for escrowed loans.
• Handle expired policies, cancellations and renewal notices.
• Liaise between bank, insurance agent and borrower.
• Prepare and review insurance documentation for imaging quality.
• Coordinate force placed insurance processes.
• Ensure regulatory compliance and follow bank policies.

Skills

Microsoft 365

Data entry

Attention to detail

Communication

Time management

Problem solving

Independent work

Education

High school diploma or equivalent

Associates degree in business-related field

Tools

Imaging software

Document management systems

Job description

Position SummaryPosition is responsible for (1) Reviewing, tracking and maintaining all collateral and flood insurance policies on the system for new and existing loans,(2) Preparing insurance disbursements/payments for escrowed loans, (3) Handling expired insurance policies, insurance cancellation, and renewal notices (4) Acting as a liaison between bank, insurance agent, and borrower, (5) Preparing insurance documentation for imaging process to ensure image quality, (6) Reviewing images of insurance documentation to ensure image quality, (7) Handling monthly expired insurance reporting and related management reporting (8) Completing flood insurance calculation worksheet and imaging to file, (9) Coordinating force placed insurance process, (10) Maintaining department service level standards and providing exceptional customer service to internal and external clients, (11) Adhering to the internal loan policy and procedures of the bank as well as adhering to compliance regulations and state/federal banking laws, (12) Reviewing and updating department operating policies and procedures as it relates to property and flood insurance, (13) Working with audit, compliance, risk management and state/federal examiners to provide documents and data as requested, (14) Adhering to regulatory requirements of the Bank Secrecy Act, Anti-Money Laundering, Customer Identification Program and OFAC and (15) Participating in Disaster Recovery efforts as it relates to the Insurance Servicing area.General QualificationsRequired Education:· A high school diploma or equivalent is required.Preferred Education:· Associates degree from a two-year college in business-related fieldRequired Experience· 2 or more years’ experience in insurance field/environmentPreferred Experience· Thorough understanding of collateral and flood insurance coverageRequired Skills· Proficiency with Microsoft 365 applications, including Word, Excel, Outlook, and Teams· Ability to enter, update, retrieve and verify information in computer systems.· Familiarity with electronic document management, imaging and file storage· Ability to navigate web-based applications and internal systems· Basic spreadsheet skills, including data entry, sorting, filtering, and simple formulas· Ability to compose professional emails and correspondence· Basic trouble-shooting skills for common software, printer, scanner, and login issues· Strong attention to detail and accuracy when reviewing insurance documents, loan records, and payment information· Effective verbal and written communication skills with internal and external customers· Strong organizational and time-management skills, with the ability to prioritize multiple tasks and meet established deadlines· Sound judgment, analytical thinking, and problem-solving skills· Ability to work independently while collaborating effectively with team members and other departments· Adaptability and willingness to learn new systems, procedures, and regulatory requirements· Professionalism, dependability, discretion, and a commitment to maintaining confidentiality· Customer-focused approach with patience, tact, and courteous service