WSFS Bank is seeking a Retail Insurance and Escrow Specialist to oversee Flood and Hazard Insurance monitoring for the Retail Loan Portfolio. The Retail Insurance and Escrow Specialist will be the gate keeper and responsible for oversight of sourced vendors who assist the Bank with Insurance Processing, to ensure proper Insurance coverage is maintained for Real Estate and other secured loans. Duties to include thorough reviews of any reports provided by sourced vendors and prompt action to correct any issues or findings noted. The Incumbent will direct the process of Insurance payments to agencies, for Escrowed Loans or the purchase for force placement of Hazard and Flood policies, as required. The Retail Insurance and Escrow Specialist will facilitate the transfer of Insurance Documentation to sourced vendors to include report reviews to validate proper receipt of Insurance policies sent. The Retail Insurance and Escrow Specialist will ensure that all regulatory requirements are met, as it pertains to Flood and Hazard Insurance, including those under the NFIP. The Incumbent will participate in system release testing and validation and will provide feedback to Management of findings as appropriate. The Incumbent will also participate in all training that the Bank’s Compliance department directs relating to the handling of Flood Insurance and work with Management and Compliance in updating policies, procedures, and developing workflows.
- Minimum 5 years’ experience in Retail Loan Servicing or Originations
- Minimum 3 years’ experience in handling Escrow Payments or Monitoring for Flood and Hazard Insurance
- Thorough demonstrated knowledge of the NFIP and regulatory requirements relating to Escrow and Flood insurance compliance.
- Must have a thorough and demonstrated understanding of retail lending banking regulations including but not limited to Truth in Lending (Reg. Z), National Flood Insurance Program requirements, Biggert/Waters Act, RESPA, Fair Lending, Fair Credit Reporting Act and BSA as it relates to the Retail lending function
- Must have exceptional written and oral communication skills and be able to demonstrate such.
- Must have excellent customer service skills.
- Must have strong organizational and multi-tasking skills and be able to successfully work under pressure to meet strict deadlines
- Must have a proven ability to develop relationships, with external sourced vendors and across the organization
- Must have proficiency in Microsoft Office products including Word, Excel and Power Point.
- Must be self-motivated and able to work with minimal supervision.
Physical Demands: The physical demands described below must be met by an Associate to successfully perform the essential functions of this job.
- The Associate will be required to stand for extended periods of time.
- The Associate may be required to sit for prolonged periods of time.
- May be required to wear a face covering during business hours.
- Dexterity is mandatory as this job requires frequent use of hands and fingers.
- The Associate will be required to walk, reach with hands and arms, push items overhead, occasionally climb or balance, stoop, kneel, crouch or crawl.
- The Associate will also be required to talk, hear, see, read and write.
- This position requires regular lifting and moving of 10-25 lbs.
- Specific vision abilities required by this job include close vision, distance vision, depth perception and ability to adjust focus.
Cognitive Demands: The cognitive demands described below must be met by an Associate to successfully perform the essential functions of the job.
- This position requires adaptability, assessing, analyzing, calculating, dependability, memorizing, good judgment, stress control, prioritization, social skills and speaking.
- This position requires comprehension, organization, reasoning and decision-making, communication and listening skills.
- The Associate must possess the capability to understand, remember, and apply oral and/or written instructions or other information, organize thoughts and ideas into understandable terminology, prioritization of own work schedule, apply common sense in performing job duties and making decisions which have impact on immediate work unit.
- The Associate must be able to understand and follow basic instructions and guidelines, complete routine paperwork, use existing form letter and/or conduct routine oral communication, communicate with individuals using a telephone, hear and speak effectively on the telephone, express or exchange ideas by means of spoken word, communicate orally with others accurately and quickly, at an audible level that others can hear.
- The Associate must also have the ability to count accurately and the ability to add, subtract, multiply, divide and record, balance and check results for accuracy.