Overview: Provides advanced level support to the Commercial Loan Tax and Insurance Unit by ensuring that customer's insurance coverage meets investor requirements as well as the accuracy and timeliness of insurance premium payments. Takes lead responsibilities in training team members.
Primary Responsibilities:
- Determines borrowers' insurance requirements based on investor guidelines.
- Pays insurance premiums from escrow funds or obtains paid receipts from customers.
- Prepares audits of customers' insurance coverage under supervision of the Insurance Compliance Officer, including completing any necessary limit analyses and drafting waivers.
- Follows up with Asset Managers, Insurance Agents and Brokers regarding customers' insurance issues.
- Keeps FICS loan database and department files up to date with current insurance information.
- Works with front end including Closing Department regarding insurance compliance relative to new loans.
- Works with front end and Asset Management regarding tax issues relative to new loans and servicing portfolio.
- Takes lead responsibilities in training additional staff.
- Completes special projects as assigned.
- Completes other duties as assigned.
Education and Experience Required: - Bachelor’s degree or the equivalent in relevant work experience to include a minimum of 5 years of previous Property and Casualty insurance experience. In lieu of a degree, a combined minimum of 9 years higher education and work experience to include a minimum of 5 years of previous Property and Casualty insurance experience.
Education and Experience Preferred: - Commercial Property and Casualty insurance experience.
- Experience in reviewing commercial loan documents, title reports, and surveys to determine loan collateral.
- Experience with tax payments and tax escrows with a Commercial Loan Servicer; and/or experience with commercial multifamily property and liability insurance.
Location: Baltimore, Maryland, United States of America
Compensation: M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $107,656.56 - $179,427.60 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.
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