The Commercial Loan Operations Insurance Manager is responsible for overseeing the daily operations of the commercial loan insurance function, spanning the full loan lifecycle from pre-closing insurance review through post-close maintenance, force placement, and insurance proceeds management. This role ensures that all insurance activities are performed in accordance with bank policy, regulatory requirements, and applicable flood regulations. The manager leads a team of insurance associates, serves as a subject matter expert and resource for internal business partners, and is accountable for the accuracy of insurance records across all relevant systems. This role drives operational excellence, team performance, vendor oversight, and continuous improvement within the insurance operations function. Job Responsibilities:
Supervises a team of insurance associates responsible for pre-closing and post-closing insurance functions, ensuring timely, accurate, and compliant processing and responses.
Oversees pre-closing insurance review for commercial loan transactions, ensuring all insurance documentation meets bank policy and standards prior to loan closing.
Manages flood zone determinations and flood insurance review and approval in accordance with applicable flood regulations.
Directs post-close insurance maintenance activities, including ongoing review and coordination with the insurance tracking vendor to ensure continuous and adequate coverage across the loan portfolio.
Manages the force placement process, including additional outreach efforts to obtain renewal certificates from borrowers and the placement of force placement charges to client accounts in accordance with bank policy.
Reviews and approves general ledger entries associated with force placement activity and insurance proceeds, ensuring accuracy, proper coding, and timely reconciliation.
Provides expert guidance and consultation to business partners, including relationship managers, credit, legal, and compliance teams, on insurance-related matters, requirements, and bank standards.
Assists with insurance proceeds and loss-related activities as applicable, including coordination with borrowers, insurers, and internal stakeholders to ensure proper handling and application of proceeds.
Ensures alignment across all relevant systems to maintain accurate and up-to-date insurance records throughout the loan lifecycle.
Monitors work queues, documentation, volumes, service levels, KPIs, and exception reports to ensure operational standards and SLAs are met.
Ensures compliance with internal policies, regulatory requirements, flood regulations, and audit standards.
Collaborates with credit, legal, compliance, servicing, technology, and vendor management teams to support insurance operations across the commercial loan portfolio.
Identifies and implements process improvements, system enhancements, and automation opportunities within the insurance operations function.
Supports internal and external audits, regulatory exams, and quality reviews by ensuring proper documentation and timely responses.
Provides coaching, training, and development to staff while fostering a collaborative and performance-driven culture.
Assists in operational readiness for new products, systems, and process changes impacting insurance operations.
ADDITIONAL ACCOUNTABILITIES Performs special projects, and additional duties and responsibilities as required.
Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.
JOB REQUIREMENTS
Required Qualifications:
Education level required: High School Diploma, GED of Foreign Equivalent
Minimum experience required: 4+ Years supervisory experience in a large commercial bank or related financial institution, with direct experience in commercial loan insurance operations or a related function.
Preferred Qualifications:
Undergraduate Degree (4 years or equivalent) ; or equivalent combination of education and experience.
Experience with commercial loan insurance review, force placement, and insurance tracking vendor management.
Working knowledge of flood insurance regulations.
Familiarity with general ledger review, reconciliation, and insurance proceeds processing.
Working knowledge of regulatory requirements (e.g., FDIC, OCC) and internal controls as they relate to insurance compliance.
Familiarity with vendor oversight.
Process improvement mindset; Lean Six Sigma or similar certification a plus.
Job Competencies:
Thorough knowledge of commercial loan insurance operations, including pre-closing insurance review, flood compliance, force placement, post-close maintenance, and insurance proceeds management.
Strong understanding of flood insurance regulations and requirements, including NFIP standards and flood zone determination processes.
Familiarity with insurance tracking systems, vendor management platforms, and core loan servicing systems (e.g., ACBS, AFSVision, nCino, or equivalent).
Proficient in Microsoft Excel and Word.
Excellent organizational, analytical, and communication skills.
Proven ability to manage operational teams in a fast-paced, deadline-driven environment.
Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross-functional insights. Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.
Physical demands (ADA): The job requires significant physical exertion and stamina such as repeated bending, reaching, climbing, or moderate and frequent lifting.
Flagstar is an Equal Opportunity Employer - Vets/Disabled
We are committed to providing clear and accurate compensation information in accordance with applicable laws. Actual starting base pay will be determined based on location, experience, and other non-discriminatory factors permitted by law. Total compensation may also include variable incentives, bonuses, commissions, or other awards as outlined in the offer of employment. Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: Benefits | Flagstar Bank
Pay Range
$88,165.50 - $139,296.00 Originally posted on Himalayas