Insurance Administrator

Insurance Administrator

At Customers Bank, we believe in working hard, working smart, working together to deliver memorable customer experiences and having fun. Our vision, mission, and values guide us along our path to achieve excellence. Passion, attitude, creativity, integrity, alignment, and execution are cornerstones of our behaviors. They define who we are as an organization and as individuals. Everyone is encouraged to have personal development plans. By doing so, our team members are on their way to achieve their highest potential and be successful in their personal and professional lives.

Salary range: An annual salary range of $70,000 - $80,000 is what we expect to pay for this position, based on overall skills and experience.

Must be legally eligible to work in the United States without sponsorship, now or in the future, to be considered.

Founded in 2009, Customers Bank is a super-community bank with over $22 billion in assets. We believe in dedicated personal service for the businesses, professionals, individuals, and families we work with.

We get you further, faster.

Focused on you: We provide every customer with a single point of contact. A dedicated team member who's committed to meeting your needs today and tomorrow.

On the leading edge: We're innovating with the latest tools and technology so we can react to market conditions quicker and help you get ahead.

Proven reliability: We always ground our innovation in our deep experience and strong financial foundation, so we're a partner you can trust.

What You'll Do:

The Insurance Administrator reviews and tracks insurance coverage on collateral securing the bank's loans, both before and after closing. The role performs flood zone determinations, conducts flood insurance reviews (NFIP and private flood), and oversees third-party vendor performance. The ideal candidate is detail-oriented, comfortable working with internal and external stakeholders, and knowledgeable about ACORD forms and flood insurance regulations.

Insurance Review

• Review insurance documentation pre-close and post-close to confirm coverage meets loan agreement and bank policy requirements, including coverage types, limits, deductibles, named insureds, mortgagee/lender's loss payable clauses, and additional insured provisions.

Flood Determinations and Reviews

• Order and run flood zone determinations on collateral properties, and review results for accuracy, including property address, zone designation, and community participation status in the NFIP.
• Conduct flood insurance reviews on both NFIP and private flood policies, confirming coverage amounts meet regulatory requirements
• Evaluate private flood policies for compliance with applicable regulatory criteria
• Ensure timely and accurate delivery of flood notices to borrowers and maintain documentation of notice delivery.
• Monitor for map changes, determination updates, and life-of-loan flood zone changes, and take appropriate follow-up action.
• Manage force-placed flood insurance processes in accordance with regulatory requirements and bank policy.

Vendor Management and Quality Control

• Serve as the day-to-day point of contact for insurance tracking and flood determination vendors.
• Perform ongoing quality control reviews of vendor processes, determinations, and insurance reviews to confirm accuracy, timeliness, and adherence to bank standards.
• Document and escalate vendor errors, trends, and service issues, and track corrective actions to completion.
• Support periodic vendor performance reviews and due diligence efforts.

Reporting and Reconciliation

• Reconcile vendor and internal reports to ensure the insurance tracking system reflects accurate and current data.
• Research and resolve exceptions, discrepancies, and outstanding items.
• Prepare and distribute exception, expiration, and status reports to management and relevant business partners.
• Maintain accurate, audit-ready records within bank systems.

Communication and Coordination

• Communicate with relationship managers, borrowers, insurance agents and brokers, attorneys, and other stakeholders to obtain insurance revisions, endorsements, renewals, and updated ACORD certificates.
• Provide clear, professional guidance on insurance requirements and what is needed to cure deficiencies.
• Partner with Loan Operations, Credit, Compliance, Legal, and Closing teams to support timely loan closings and ongoing portfolio compliance.

Compliance and Process Support

• Support compliance with federal flood insurance requirements and applicable regulatory guidance, as well as internal policies and procedures.
• Assist with internal audits, regulatory examinations, and compliance testing by providing documentation and responding to inquiries.
• Identify process improvements and recommend enhancements to workflows, checklists, and controls.
• Assist with developing and updating procedures, job aids, and training materials.
• Perform other duties as assigned.

What Do You Need?

Required

• 2 years of experience in insurance tracking, loan administration, credit administration, or a related banking or insurance function
• Working knowledge of ACORD forms and commercial and residential property insurance concepts
• Working knowledge of flood insurance regulations, including NFIP requirements and private flood insurance standards
• Exceptional attention to detail and accuracy
• Strong written and verbal communication skills, with the ability to work effectively with internal and external stakeholders
• Strong organizational skills with the ability to manage multiple priorities and deadlines

Preferred

• Bachelor's degree in business, finance, risk management, or a related field
• Experience with insurance tracking platforms and loan systems
• Experience overseeing or performing QC on third-party vendors
• Experience in a regulated financial institution
• Insurance or flood-related certification (e.g., NFIP training, ASFPM CFM, or similar)

Core Competencies

• Accuracy and thoroughness
• Analytical and problem-solving ability
• Accountability and follow-through
• Professionalism and sound judgment when handling confidential information
• Ability to work independently and collaboratively

Technology Skills:

• Proficiency in Microsoft Office, especially Excel.
• Familiarity with AI and automation tools that support productivity, workflow efficiency, and client engagement.

Customers Bank is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

We also provide "reasonable accommodations", upon request, to qualified individuals with disabilities, in accordance with the Americans with Disabilities Act and applicable state and local laws.

Diversity Statement:

At Customers Bank, we believe in working smart, working together, and having fun while delivering innovative solutions and memorable experiences for our customers. We are committed to the continual advancement of a culture which reflects the value we place on diversity, equity, and inclusion. We honor the diverse experiences, perspectives, and identities of our team members, and we recognize that it is their passion, creativity, and integrity that drives our success. Step into your future with us! Let's take on tomorrow.