Insurance Clerk

Sterling Federal Bank is seeking an Insurance Clerk at our Sterling location.

Purpose----Process applications for, changes to, reinstatement of, and cancellation of insurance policies. Duties include administering of insurance policies to ensure that coverage is maintained, compiling data on insurance policy changes, changing policy records to conform to insured party's specifications, compiling data on lapsed insurance policies and verifying the accuracy of insurance company records.

Precise Roles, Tasks & Responsibilities

• Disburse funds to pay escrowed hazard and flood insurance premiums on all residential loans
• Track insurance cancellations, obtain force placed insurance where needed, cancel forced placed insurance when notified of insurance re-instatement and refund any necessary amounts to customer account
• Disburse Rural Development annual fees from loans and credit to Rural Development Annual Fees general ledger account and update premium for the following year in each loan.
• Call appropriate insurance agent on any cancelled hazard or flood policies to obtain current customer information regarding policies
• Fill in at reception desk when needed for lunch, breaks, days off, etc.
• Data entry of rate changes as support and back up
• Process payoff requests
• Administer and balance Arch Forced Placed insurance by processing claims for property damage, canceling insurance when notified of re-instatement
• Assist both customers and other employees with loan inquiries
• Disburse construction loan payouts from Loan-in-Process balance when approved by Loan Officer, completing lien waivers, verifying vendor information and collecting W-9 forms when needed
• Order mortgage insurance, balance and submit premiums as well as cancel coverage as needed
• Process life & disability insurance applications, cancellations, claims and remit premiums as needed
• Place blanket insurance coverage for REO properties and maintain spreadsheet information
• Actively participate in and take turns leading daily huddles
• Answer phones following MOT standards

 Requirements

• Attention to detail
• Knowledge of homeowner's insurance
• Ability to relate with customers calmly and effectively
• Excellent written and verbal communication skills
• Proficient in Microsoft Word and Excel preferred, at least 2 years' experience

Sterling Federal Bank is an Equal Opportunity/Affirmative Action Employer

Current Openings for Insurance Clerk Jobs at Sterling Federal Bank