Insurance Specialist II

Job Description

Job Description

We are looking for an Insurance Specialist II to support loan-related insurance review activities for a Long-term Contract position based in Morristown, New Jersey. This role focuses on evaluating insurance documentation for new, modified, and renewed commercial loans so that lending files align with regulatory obligations and internal credit standards before and after closing. The position works closely with lending, compliance, servicing, and external insurance contacts to address gaps in coverage, strengthen collateral protection, and maintain accurate insurance records.

Responsibilities:
• Examine insurance documentation for commercial and real estate-secured loans before and after closing to confirm flood determinations, required forms, and coverage details are complete and accurate.
• Assess property, casualty, liability, flood, and other applicable insurance requirements to verify alignment with credit policy and loan conditions prior to closing.
• Partner with lenders, loan servicing teams, compliance staff, and insurance agencies to correct missing information, resolve exceptions, and elevate higher-risk compliance concerns when necessary.
• Maintain organized tracking records for policy terms, coverage amounts, expiration dates, and changes that may affect flood zone or insurance requirements.
• Perform file audits and broader portfolio reviews to identify issues, monitor adherence to standards, and support ongoing risk management efforts.
• Assist with regulatory examinations, procedure updates, and internal guidance by preparing documentation, contributing to policy-related revisions, and supporting training activities for lending partners.
• Monitor regulatory developments affecting insurance and flood compliance and help translate those changes into updated processes and lender guidance.
• Follow applicable regulatory and compliance expectations, including reporting suspicious activity concerns through the appropriate compliance channels and completing required annual training.
• Provide additional administrative and operational support related to insurance review and loan documentation as business needs require.• High school diploma and 3-5 years of relevant experience in financial services, insurance review, or a related insurance-focused environment.
• Working knowledge of property, casualty, liability, and flood insurance requirements, along with general loan terminology and documentation.
• Ability to interpret insurance policies and federal flood regulations and identify needed actions to maintain compliance.
• Strong written and verbal communication skills with the ability to work effectively across lending, servicing, compliance, and external partners.
• Proficiency with Microsoft Word and Microsoft Excel.
• Strong attention to detail with the ability to organize multiple assignments and manage deadlines effectively.
• Ability to learn loan administration and core banking systems such as nCino and related internal platforms.
• College-level coursework in business, finance, or a related field is preferred.