Insurance Analyst - Healthcare

Description

The Insurance Analyst - Healthcare is responsible for the compliance reviews of the LEAN/HUD 232 and Merchants Bank of Indiana (MBI) healthcare loan portfolio. This position requires a detail-oriented, deadline-driven individual who can work individually, with members of other teams as well as with his/her own team to manage multiple tasks and projects simultaneously. This position will report to the Team Lead, Healthcare – Insurance Servicing and have extensive internal and external customer interaction.

Success in this position will produce efficient, high-functioning portfolios ensuring accuracy and compliance while providing excellent customer satisfaction to our clients and the internal team. Continued growth and development towards a manager role in the department.

• This position will work with private label clients and third-party vendors to ensure insurance is in compliance prior to closing.
• Review loan documents to determine loan-specific insurance requirements. This includes, but is not limited to, appraisal, engineering, seismic, and environmental reports.
• Point of contact on insurance questions, coverage requirements and investor guidelines.
• Conduct due diligence of loan documents to ensure proper loan setup and servicing of the loan using our servicing system, SS&C PLM. This includes, but is not limited to, ACORD and/or policy review, annual premium documentation (including finance plans) and any corresponding insurance waiver risk analysis.
• Identify potential risk for the company and the investor and promptly notify the appropriate parties following identification of any coverage issue, deficiency, or lapse in coverage.
• Engage in proactive communication with clients, borrowers, operators, management companies and/or insurance agents/brokers to obtain clarification on insurance coverage limits, policy structure, and/or deductibles. Remediate any non-compliant insurance.
• Respond timely to inquiries from internal and external customers, ensuring that the proper notification, escalation, communication, and coordination occurs with management related to the performance of job duties, as needed.
• Monitor reports and deadlines to ensure work is completed in advance of set timelines, proactively communicating portfolio status with manager as needed.
• Train and develop junior level team members.

• Bachelor’s degree, preferably in the business or finance areas; or insurance-related industry designations with direct experience and demonstrated ability to perform the required tasks.
• Clear knowledge of Commercial Insurance Coverage – Property, (including Flood, Wind, Earthquake and Terrorism), General Liability (including Workers Comp and Auto), Professional Liability and Umbrella/Excess Liability Insurance.
• Familiarity with LEAN/HUD 232, escrow requirements and finance agreements preferred.
• Requires problem solving skills as well as the initiative to troubleshoot and find resolutions.
• Requires excellent communication skills, written and oral, through all levels of the organization.
• Must demonstrate the ability to identify, interpret and apply applicable guidelines in managing assigned processes.
• Ability to educate others with the ability to translate insurance concepts into clear actionable information/instruction.
• Ability to learn quickly and demonstrated ability to work independently in fast-paced environment.
• Must demonstrate the ability to successfully schedule own workload to most efficiently meet multiple deadlines and manage assigned portfolio, prioritizing according to risk and urgency.
• Flexibility and ability to work under pressure with tight deadlines and constant interruptions.
• Must possess strong organization and communication skills with a focus on accuracy and attention to detail.
• Ability to work well as part of a team while also capable of self-motivation and strong individual performance.
• Providing premier customer service to investors, borrowers, agents and co-workers.
• Ability to maintain a positive attitude in all situations
• Requires high level of computer proficiency in Microsoft Office, specifically regarding Outlook, Word and Excel.