FLOOD INSURANCE ANALYST
WHAT IS THE OPPORTUNITY?
Responsible for Bank policies and procedures for flood insurance compliance.
Ensures that flood insurance tracking is in conformity with regulatory/government requirements.
Coordinates efforts with other business units to identify and resolve processing issues.
This position calls for interaction with Bank management, insurance tracking vendors and collaborates with the Compliance Department and Legal in the overall administration of the related directives for the Bank.
Participates in audits and examinations on behalf of the CLC flood Insurance Department.
Assures compliance with assigned Bank policies and procedures, as well as, with the applicable state and federal banking regulations, including FDPA and Credit Policy.
Residential Lending Division
Make a meaningful difference as a member of City National’s Residential Lending group.
This is a great opportunity to grow your career with a stable and expanding organization while enhancing and retaining bank client relationships through competitive mortgage products and solutions with exceptional service and care.
WHAT WILL YOU DO?
- Reviews, interprets and approves flood insurance policies pre-loan boarding and for the life of the loan
- Identifies and mitigates potential Flood risk issues; interacts with Bank personnel including audit and compliance pertaining to remediation issues
- Consistently applies higher level decision making techniques pertaining to inquiries, approvals and requests as they apply to existing policies and procedures, keeping within assigned approval limits and using these instances as learning tools for employee development.
- Processes flood map changes to ensure compliance with all applicable laws and regulations
- Provides guidance and direction to lenders, documenters and relationship managers and insurance agents
- Analyze appraisal documents, survey maps, elevation certificates and calculate value of insurance needed using formulas provided in accordance with government regulations.
- Responsible for data integrity of flood insurance tracking across systems, flood determination vendor, insurance tracking systems both in-house and vendor-supplied
- Interface with Internal Audit, Compliance and external regulatory agencies such as the OCC and FEMA
- Processes, solves and answers complex customer issues, problems or inquiries
- Understands issues of high complexity regarding number of structures encumbered to a loan, dollar amount of insurance per structure and qualifying structures for flood insurance.
- Maintains a proficient knowledge of applicable banking and FEMA rules and regulations
- Consults with Legal and Credit Administration Departments to validate policies and to identify and document improvements to processes and procedures.
- Manages Special Projects and other activities independently
- Assumes responsibility for special monitoring/quality assurance projects, gathers data and prepares reports for Senior Management, audits and other personnel
- Maintain a proactive, committed approach to such programs as Customer first, Community Reinvestment Act (CRA) and Equal Employment Opportunity.
- Utilize Excel for data organization, and exception tracking.
WHAT DO YOU NEED TO SUCCEED
Must-Have*
- Minimum 6 years experience working in insurance and/or Banking environment with emphasis on commercial loans required.
- Minimum 6 years analyzing insurance policies, loan documents and credit approval memos to ensure regulatory requirements.
- Minimum 6 years experience using Microsoft Office Suite
Skills and Knowledge
- Minimum 6 years experience working in insurance and/or Banking environment with emphasis on commercial loans required.
- Ability to read, understand and analyze insurance policies, loan documents and credit approval memo to ensure compliance with the Bank’s requirements.
- Ability to set policy, influence change and articulate insurance matters/decisions throughout the Bank
- Knowledge of insurance industry terminology required.
- Working knowledge of Microsoft Word/Excel would be required.
- Ability to interact in an effective and professional manner with internal and external contacts.
- Excellent verbal/written communication skills required.
- Good math skills are a must.
- Proficient personal computer skills required.
*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification.
It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.
ABOUT CITY NATIONAL
We start with a basic premise: Business is personal.
Since day one we’ve always gone further than the competition to help our clients, colleagues and community flourish.
City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today.
City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies.
City National Bank requires all colleagues to be fully vaccinated against COVID-19 to work on-site at any of our locations.
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