Job Description

JOB BRIEF: (PURPOSE)

• Under the direction of the Insurance Department Manager, the person in this position is responsible for acting in the most timely, efficient and responsible manner to protect the interest of the investors pursuant to the mortgages serviced for them. The duties specifically relate to all insurance matters. (There can be serious and substantial losses incurred by either the investor or KeyBank if insurance coverage is always not adequate and in force.) This is accomplished within the parameters of individual investor guides, Pooling and Servicing Agreements, applicable law and the mortgage documents.
• The Insurance Manager II leads operational strategy and risk assessment initiatives. This role ensures the efficiency, compliance, and resilience of insurance operations, aligning with enterprise risk management goals and regulatory expectations.
• This is a hybrid position that requires the selected candidate to work in the Overland Park office for a minimum of three days a week.

ESSENTIAL JOB FUNCTIONS:

• Lead a designated insurance servicing team. Impart the KeyBank Values and consistently convey the vision and culture to their team.
• Provide coaching and training in all insurance processes. Function as a primary resource of professional development to members of the team.
• Conduct periodic audits of the insurance loan-servicing file looking for special conditions, non-compliant items and requirements that may be problematic, bringing them to the attention of the assigned Insurance Specialist for resolution.
• Provide oversight to their team in performing insurance compliance at policy renewal; in the preparation and case write ups of insurance waivers; processing insurance premium disbursements; and preparation for necessary lender placement of insurance deficiencies.
• Provide resources and guidance to their team as needed to resolve escalated matters or customer service issues with borrowers, insurance agents, internal clients, and/or insurance companies or discrepancies related to insurance.
• Assist with hiring for the Insurance team including setting performance standards, providing support for performance reviews, addressing employee concerns, motivating and providing special recognition.
• Evaluate and monitor processes and procedures, working with IT to automate and streamline processes as necessary.
• In addition to the essential job functions of the Insurance Manager I; the Insurance Manager II develops and implements operational strategies to improve insurance servicing efficiency and accuracy.
• Monitors regulatory changes and servicing industry trends ensuring KeyBank is in line with the best practices across the industry.
• Collaborate and work with KBREC KCIS Risk Management in internal controls and internal and external audits.
• Collaborate and work with third-party insurance vendors, including, but not limited to, Althans Insurance and A.M. Best. Manage staffing levels based on volume trends, market changes, and client need.

MARGINAL OR PERIPHERAL FUNCTIONS:

• Prepare monthly team reporting to the Department Manager.
• Assist Management team with the review and approval of premium disbursements, lender place reviews, internal and external audits, and assumptions.
• Interact with internal departments and external customers as needed to resolve any issues or discrepancies related to insurance.
• Participate in special projects as needed.

REQUIRED QUALIFICATIONS:

• Minimum seven to ten years of leadership experience in insurance or financial services
• Excellent verbal and written communication skills.
• Excellent time management and organizational skills.
• Ability to manage change and foster teamwork.
• Ability to function in a “deadline driven” environment and prioritize responsibilities.
• Strong analytical and decision-making skills.
• Ability to work in a team environment and motivate others.
• Strong people skills and professional conduct.
• Efficient in the use of Microsoft Office Suite.

PREFERRED QUALIFICATIONS:

• Experience with broad-based commercial property and liability insurance.
• Commercial loan servicing experience.
• Experience with McCracken/Strategy loan servicing system.
• Prior experience with legal document review and interpretation.
• Four-year college degree.

EQUIPMENT USED:

• Standard issued laptop.
• Standard office equipment.

TRAINING REQUIRED:

• Complete computer-based corporate course requirements related to Compliance, Fraud and other courses as required.
• Complete a minimum of 35 hours of internal and external development programs annually.
• On the job as required.

Working at Key is an opportunity to join a company committed to your success and the success of the clients and communities we serve. We offer our teammates the skills, mentoring and training needed to meet their career goals and better serve our clients.

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