Insurance Servicing Specialist II

Univest Financial Corporation (UVSP), has approximately $7.8 billion in assets and $4.7 billion in assets under management and supervision (as of December 31, 2023). Headquartered in Souderton, Pa. and founded in 1876, the Corporation and its subsidiaries provide a full-range of financial solutions for individuals, businesses, municipalities and nonprofit organizations in the Mid-Atlantic Region. In 2023, Univest donated $2.4 million to our communities, and our employees volunteered more than 13,100 hours.

At Univest we invest in the success of our employees and customers. We offer our employees the ability to be their authentic selves, while fostering a culture and an environment that inspires change and inclusivity. Seeking career-focused individuals, looking to bring passion and creativity to drive change. Our employees are encouraged to work collaboratively and embrace innovation to deploy needs based financial solutions in the communities we serve.

We're hiring a Insurance Servicing Specialist II to join our Team.

QUALIFICATIONS:

* High School Diploma or GED Equivalent and 2 years Insurance/Collateral/Loan Operations experience

* General knowledge of financial services with a focus on loan/insurance products, insurance processes, data systems, compliance procedures to ensure accurate documentation

* Strong knowledge of insurance practices related to hazard, general liability, builder's risk, property and flood insurance

* In depth knowledge of flood insurance regulations and requirements including determination of required coverage

* Ability to read, comprehend and discern inconsistencies in consumer, commercial and mortgage insurance documents for determining and monitoring required insurance coverage amounts

* Ability to work independently, prioritize and multi-task under tight time constraints with minimal to no supervision

* Ability to learn the bank's loan policies/procedures and apply accordingly.

* Strong problem-solving and customer service skills

* Proven attention to detail and accuracy to ensure audit and regulatory compliance

* Ability to communicate in a professional manner with internal and external customers

* Experience with Microsoft Office Suite.

* Experience with Jack Henry Silverlake and Synergy a plus

Responsible for interpreting and translating complex insurance documents (hazard, flood, general liability, builder's risk, property and condo insurance) to ensure the Bank's collateral position is protected and to reduce losses, lender liability and borrower ill will

* Provide oversight of third-party vendor including report monitoring for accuracy; providing weekly export with insurance updates; monitoring the regulatory timeframe for force placement

* Research and provide actionable advice, consultative guidance and subject-matter expertise to all lending and loan operations personnel related to insurance compliance, coverage and documentation throughout all phases of lending and loan operations processes

* Provide oversight, governance and leadership responsibility supporting all provisions of the National Flood Insurance Program including timely and accurate determinations, adequate coverage verification, tracking of new and renewal policies, and monitoring flood map changes.

* Responsible for monitoring of all escrowed loans, processing timely payments for hazard and flood insurance premiums, and updating billing schedules.

* Complete appropriate financial entries to establish escrow and disburse payment for force placed insurance.

* Work large volumes of insurance mail daily as uploaded from Lockbox. Ensure that all info/policies are uploaded for weekly export to vendor.

* Process all notices of cancellation or rescission in a timely manner with follow up to customer/agent and proper updates to the system

* Ensure all insurance related documents and correspondence are input to into Jack Henry, LQAS and uploaded to Synergy

* Monitor a team email inbox and ensure that customer related issues are resolved timely

* Stay current on compliance related activity regarding flood insurance requirements by attending webinars and reading regulatory updates

* Serve as a liaison to internal and external auditors and examiners related to all insurance monitoring processes and flood insurance compliance

* Responsible for compliance with laws and regulations that apply to the position, including the Univest Code of Conduct

* Performs additional duties as required

#Univest

#LI-Hybrid

An Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.

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