Escrow & Loan Insurance Specialist

Job description

Escrow & Loan Insurance Specialist

Classification:

Non-Exempt/Hourly

Job Type:

Full-Time

Location:

Non-remote; Onsite position

Collinsville Loan Processing

717 Vandalia St.

Collinsville, IL 62234

Reports To:

Loan Processing Manager

ABOUT US:

FCB Banks has been family owned and managed for more than three generations. Our original banks opened in New Baden and Albers in 1901 and customers quickly associated FCB with quality service, competitive rates, and personal customer care. These qualities became the pillars of our business when First Collinsville Bank opened in 1990 and we began expanding throughout the area. We streamlined and simplified banking operations and officially changed our name to FCB Banks in 2017. Today we have seventeen locations in sixteen wonderful towns serving customers in Illinois and Missouri. We pride ourselves on being locally owned and operated as well as a valued part of the community. Since 1901 our goal at FCB Banks has always been to provide exceptional service to our valued customers.

JOB SUMMARY:

The Escrow/Insurance Specialist is responsible for the accurate administration and monitoring of escrow accounts related to insurance and real estate taxes. This role ensures all required insurance coverage is properly obtained and maintained, escrow disbursements are made timely, and compliance and regulatory requirements are consistently met. The position also serves as a key point of contact for internal and external inquiries related to escrow accounts.

ESSENTIAL JOB DUTIES:

Obtain and maintain required hazard and property insurance coverage for all applicable loan accounts.

Obtain and maintain required flood insurance coverage in compliance with regulatory requirements.

Monitor evidence of insurance and initiate force-placed insurance procedures when required in accordance with regulatory guidelines and bank policies.

Monitor escrow accounts using the Bank's core system, including tracking and managing ticklers for insurance renewals and policy updates.

Ensure timely payment of all escrowed insurance premiums.

Ensure timely payment of all escrowed real estate taxes.

Review, prepare, and deliver annual escrow analysis statements to borrowers in accordance with regulatory guidelines.

Monitor escrow shortages, surpluses, and adjustments, and coordinate necessary borrower communications.

Answer main phone line and direct calls appropriately, providing professional and accurate assistance or routing as needed.

Ensure compliance with all applicable federal, state, and banking regulations, as well as internal loan servicing policies and procedures.

Maintain accurate and complete escrow records within the Bank's servicing system.

Perform departmental duties as needed to maintain efficiency workflow and service levels.

Complete additional tasks, functions, and special projects as assigned.

Force places insurance when required.

TECHNICAL SKILLS NEEDED: Proficient in Microsoft Office Suite, including Excel, Word, and Outlook

Experience working with loan servicing and escrow management systems

Ability to navigate core banking platforms and document imaging systems

Knowledge of escrow administration processes, including insurance and tax disbursements

Familiarity with hazard, flood, and force-placed insurance tracking procedures

Understanding of mortgage servicing regulations and compliance requirements, including RESPA and flood insurance regulations

Strong data entry and recordkeeping accuracy

Ability to manage electronic tickler and tracking systems efficiently

Skilled in reviewing insurance declarations, mortgagee clauses, and tax documentation

Ability to prioritize deadlines, manage multiple tasks, and work independently with minimal supervision

Ability to learn and adapt to new banking software and technologies quickly

Ability to maintain confidentiality and exercise sound judgment in handling sensitive financial information

Commitment to compliance with all bank policies, procedures, and applicable regulations

QUALIFICATIONS High school diploma or equivalent required; associate or bachelor's degree in business, finance, or related field preferred

Prior experience in banking, mortgage servicing, escrow administration, or insurance processing preferred

Minimum of one to three years of banking, loan servicing, escrow administration, insurance processing, or related experience preferred

WORKING CONDITIONS: Work is primarily performed in a professional office environment within a community banking setting

Requires extended periods of sitting, computer use, and telephone communication

Frequent use of hands and fingers to operate computer keyboard, mouse, telephone, and other office equipment

Ability to read and review detailed documents, computer screens, and reports accurately

Occasional standing, walking, bending, reaching, and lifting or carrying office materials up to 15 lbs.

Frequent interaction with customers, insurance agents, taxing authorities, and internal bank personnel

Must be able to manage multiple priorities and deadlines in a fast-paced environment with frequent interruptions

Regular attendance and punctuality are essential to maintain department workflow and customer service standards

Occasional overtime may be required to meet business needs, regulatory deadlines, or departmental demands

Requires the ability to maintain confidentiality and handle sensitive financial information with professionalism and discretion

May require cross-training and support of other loan servicing or operational functions as needed

BENEFITS: $18.00 - $22.00 per hour, eligible for performance-based bonuses and incentives

Health, Dental, Vision Insurance

Group Life Insurance 1x annual salary, 100% paid by the bank

Long-Term Disability insurance, 25% paid by the bank

Voluntary Life Insurance and Accidental Death and Dismemberment Insurance

Flexible Spending Account (FSA) and Dependent Care Flexible Spending Account (DCFSA)

Employee Assistance Program, Travel Assistance and Life Services Tool Kit

Paid time off including Vacation, Personal and Sick leave

Partially-paid Parental Leave for eligible employees

401(k) with company match for eligible employees

DISCLAIMER:

The employee must be able to perform the essential functions of the position satisfactorily and, if requested, reasonable accommodations will be made to enable employees with disabilities.

FCB Banks retains the right to change or assign other duties to this position.

Equal access to programs, services and employment opportunities is available to all persons without regard to age, ancestry, citizenship, status, color, physical or mental disability, genetic information, marital status, military status, national origin, race, religion, sex (including pregnancy), sexual orientation, or any other basis protected by federal, state, and/or local law.

In accordance with the Americans with Disabilities Act and/or applicable state and local laws, applicants requiring reasonable accommodations for the application and/or interview process should notify the FCB Human Resources Department. Examples of reasonable accommodations include making a change to the application process; providing written materials in an alternate format such as braille, large print, or audio recording; using a sign language interpreter; using specialized equipment; or modifying testing conditions.

Applicants have rights under Federal Employment Laws

Equal Employment Opportunity Poster

Equal Employment Opportunity Supplement

Family and Medical Leave Act (FMLA)

Employee Polygraph Protection Act

Worksite address

collinsville, IL, 62234, US

Who can apply

Review the original listing for work authorization, qualifications and employer requirements.