KeyBank - Overland Park, KS

posted 2 months ago

Full-time - Entry Level
Overland Park, KS
1,001-5,000 employees
Credit Intermediation and Related Activities

About the position

The Ops Specialist II position at KeyBank is a full-time role located at 11501 Outlook Street, Overland Park, Kansas. Under the direction of the department manager, the individual in this position is tasked with ensuring the timely, efficient, and responsible management of insurance matters related to mortgages serviced for investors. This role is critical in protecting the interests of investors by adhering to individual investor guides, Pooling and Servicing Agreements, applicable laws, and mortgage documents. The essential job functions include reviewing, analyzing, and interpreting various types of property and liability insurance policies, operating statements, and property appraisals for commercial loans. The Ops Specialist II must ensure compliance with loan documents, investor requirements, and internal policies and procedures. Additionally, the role involves managing and updating data in the servicing system to reflect the current status of insurance policy effective dates and coverage amounts. The specialist will also monitor and manage the disbursement of insurance premium payments for commercial mortgage loans, ensuring that adequate insurance policies are in place for non-escrowed loans. In cases where borrowers fail to act, the Ops Specialist II will initiate and oversee forced place insurance coverage. The position also requires overseeing and administering casualty losses incurred on commercial properties, which includes analyzing loss severity, arranging property inspections, and processing disbursement requests from loss proceeds. Effective communication is essential, as the specialist will correspond with borrowers, insurance agents, and insurance companies to resolve any issues or discrepancies related to insurance. The role may also involve training new employees and assisting the department supervisor with various tasks as needed.

Responsibilities

  • Review, analyze, and interpret property and liability insurance policies for compliance with loan documents and investor requirements.
  • Manage and update data in the servicing system regarding insurance policy effective dates and coverage amounts.
  • Monitor and manage the disbursement of insurance premium payments for commercial mortgage loans.
  • Collect documentation to ensure non-escrowed loans have adequate insurance policies in force.
  • Initiate and oversee forced place insurance coverage when required due to borrower inaction.
  • Oversee and administer casualty losses incurred on commercial properties, including analyzing loss severity and processing disbursement requests.
  • Correspond with borrowers, insurance agents, and insurance companies to resolve insurance-related issues.
  • Administer customer inquiries and requests related to commercial property insurance.
  • Assist with servicing acquisition-related tasks and train new employees.

Requirements

  • Minimum two years of broad-based commercial property insurance or related experience, or a four-year college degree.
  • Experience in legal document review and interpretation.
  • Extensive knowledge of various types of commercial property insurance policies.
  • Excellent verbal and written communication skills.

Nice-to-haves

  • Commercial loan servicing experience.
  • Experience with McCracken/Strategy loan servicing system.
  • Proficiency in word processing and spreadsheet software, such as Word and Excel.
  • Ability to multi-task effectively and work in a deadline-driven environment.
  • Strong interpersonal skills and professional conduct.
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