Commercial Loan Operations Insurance Associate

Position Title

Location

Job Summary

Job Responsibilities:

• Review borrower-provided insurance documents to verify compliance with loan terms, including property, liability, and flood insurance requirements.
• Monitor insurance coverage through a third-party vendor platform, addressing any lapses, expirations, or discrepancies.
• Track and document insurance exceptions and follow up with borrowers or agents to obtain required information.
• Perform ongoing reconciliation of insurance data between internal systems and vendor systems.
• Assist in the resolution of insurance-related compliance issues, including force-placed insurance processes.
• Coordinate with internal teams (loan servicing, risk, legal, etc.) to ensure accurate and timely insurance tracking.
• Support the onboarding and oversight of insurance tracking vendors, including performance monitoring and issue escalation.
• Maintain accurate and timely records in loan systems of record and document management systems.
• Assist in developing and maintaining procedures related to commercial loan insurance processes.
• Perform other administrative and operational tasks as assigned to support the broader Commercial Loan Operations team.

ADDITIONAL ACCOUNTABILITIES

• Performs special projects, and additional duties and responsibilities as required.
• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.

Job Requirements:

• High School High School Equivalency (GED, HiSET, TASC) I Foreign Equivalent
• Minimum experience required: 2+ Years experience in an insurance related company, large commercial bank or related financial institution.

Preferred Qualifications:

• College, Vocational or Associates Degree (2 years or equivalent)
• Experience working with third-party insurance tracking vendors (e.g., HUB, Proctor, Allied)
• Familiarity with flood insurance compliance (FEMA/NFIP guidelines).
• Knowledge of banking regulations such as FDPA, RESPA, and other commercial lending compliance standards.

Job

Competencies:

• Basic knowledge of commercial property insurance requirements and regulatory standards.
• Proficient in Microsoft Office Suite.
• Extreme attention to detail.
• Physical demands (ADA):
  The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting.

Flagstar is an Equal Opportunity Employer

Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information:
Benefits | Flagstar Bank