Hills Bank and Trust Company
Collateral Insurance Specialist
Hills Bank and Trust Company
Schedule:
Full‑time; Monday through Friday, 7:30 am – 5:30 pm. Avg. 40 hrs/week.
Location:
131 Main St, Hills, IA 52235
Benefits:
A comprehensive package designed to support our employees and their families.
Scope The Collateral Insurance Specialist reports directly to the Loan Servicing Supervisor and works closely with loan operations personnel, lenders, customers, insurance agents, and regulatory agencies. The role maintains the bank’s hazard insurance tracking and flood insurance program, processes incoming policies for accuracy and coverage, handles insurance escrow billing, and follows up on lapsed coverage. It also manages forced‑placed insurance portfolios, communicates insurance requirements, and conducts ongoing flood compliance reviews.
Accountabilities Insurance Tracking (20%)
Process incoming hazard and flood insurance policies.
Review each renewing flood insurance policy, cancellation or amendment to assure proper coverage.
Document and communicate cancellation and renewal issues with customers and lenders to maintain coverage.
Flood Review (20%)
Review all loan applications secured by real estate in Special Flood Hazard Areas to determine required flood insurance and verify policy compliance.
Facilitate communication between lenders, customers, and insurance personnel to support accurate documentation.
Administer the bank’s flood insurance compliance program per federal regulations and bank policy.
Insurance Escrow Processing (20%)
Complete payment processing for loans that escrow for hazard and flood insurance.
Collaborate with insurance agents to ensure accurate billing.
Forced Placed Insurance Processing (20%)
Review each policy as it cancels or expires to guarantee continued coverage.
Communicate insurance issues with customers and lenders in accordance with state and federal regulations.
Initiate forced‑placed insurance when necessary.
Process monthly reconciliation, refunds, and renewals of forced‑placed insurance.
Compliance (10%)
Stay current on federal and state laws regarding hazard and flood insurance for financial institutions.
Assist in developing manuals and training materials for the bank’s Business Continuity Plan.
Provide training to staff on flood insurance procedures and policies.
Work with in‑house, third‑party, state, and federal auditors to maintain or exceed excellence standards.
General Department Duties (10%)
Assist with specialized projects or duties in the Post Closing Department as needed.
Develop supporting documentation for tasks inherent to this position.
Support other bank activities as part of the overall team of employees.
Perform other duties as assigned.
Education & Special Requirements
Bachelor’s degree in business or related field; or
1–2 years of related experience in a community bank, or an equivalent combination of education and experience.
Typical office environment skills: computer, communication, and office equipment proficiency.
EQUAL OPPORTUNITY EMPLOYER Job Posted by ApplicantPro
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Hills Bank and Trust Company
Schedule:
Full‑time; Monday through Friday, 7:30 am – 5:30 pm. Avg. 40 hrs/week.
Location:
131 Main St, Hills, IA 52235
Benefits:
A comprehensive package designed to support our employees and their families.
Scope The Collateral Insurance Specialist reports directly to the Loan Servicing Supervisor and works closely with loan operations personnel, lenders, customers, insurance agents, and regulatory agencies. The role maintains the bank’s hazard insurance tracking and flood insurance program, processes incoming policies for accuracy and coverage, handles insurance escrow billing, and follows up on lapsed coverage. It also manages forced‑placed insurance portfolios, communicates insurance requirements, and conducts ongoing flood compliance reviews.
Accountabilities Insurance Tracking (20%)
Process incoming hazard and flood insurance policies.
Review each renewing flood insurance policy, cancellation or amendment to assure proper coverage.
Document and communicate cancellation and renewal issues with customers and lenders to maintain coverage.
Flood Review (20%)
Review all loan applications secured by real estate in Special Flood Hazard Areas to determine required flood insurance and verify policy compliance.
Facilitate communication between lenders, customers, and insurance personnel to support accurate documentation.
Administer the bank’s flood insurance compliance program per federal regulations and bank policy.
Insurance Escrow Processing (20%)
Complete payment processing for loans that escrow for hazard and flood insurance.
Collaborate with insurance agents to ensure accurate billing.
Forced Placed Insurance Processing (20%)
Review each policy as it cancels or expires to guarantee continued coverage.
Communicate insurance issues with customers and lenders in accordance with state and federal regulations.
Initiate forced‑placed insurance when necessary.
Process monthly reconciliation, refunds, and renewals of forced‑placed insurance.
Compliance (10%)
Stay current on federal and state laws regarding hazard and flood insurance for financial institutions.
Assist in developing manuals and training materials for the bank’s Business Continuity Plan.
Provide training to staff on flood insurance procedures and policies.
Work with in‑house, third‑party, state, and federal auditors to maintain or exceed excellence standards.
General Department Duties (10%)
Assist with specialized projects or duties in the Post Closing Department as needed.
Develop supporting documentation for tasks inherent to this position.
Support other bank activities as part of the overall team of employees.
Perform other duties as assigned.
Education & Special Requirements
Bachelor’s degree in business or related field; or
1–2 years of related experience in a community bank, or an equivalent combination of education and experience.
Typical office environment skills: computer, communication, and office equipment proficiency.
EQUAL OPPORTUNITY EMPLOYER Job Posted by ApplicantPro
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