Job Description
Job Description
At Northmarq, you can be part of something special. Northmarq is a unique capital markets resource for commercial real estate investors, providing our clients access to experts in debt, equity, investment sales, loan servicing, and fund management. We offer you a career path with best-in-class training, and we foster inclusive teams committed to collaboration, mentoring, and growth. At Northmarq, we will help you unlock your potential – whether you are an industry veteran or you're just getting started. Your new career is waiting. Start something special today. Northmarq was voted by Real Estate Forum as one of The Best Places to Work in Commercial Real Estate!
Northmarq is looking for a Commercial Insurance Analyst II to join its Servicing department in the Minneapolis (Bloomington, MN) headquarters office. This position requires a deadline-driven, organized and detail-minded individual who would be responsible for insurance compliance and ensuring minimized risk to all investor portfolios. The focus will be on demonstrating a high-level understanding of commercial insurance terminology and industry trends, consistent attention to detail and accuracy in all job responsibilities, recommending the next course of action with confidence, and working independently with minimal supervision. Additional responsibilities may be added to adapt to company growth.
- This position offers a flexible work environment and is available for an immediate start.
Position Responsibilities :
Plan and schedule own workload to most efficiently meet benchmarks, prioritizing according to risk and urgency with minimal supervision.Provide premier customer service to investors, borrowers, agents and other Northmarq staff. Understand others' complex or underlying needs, motivations or concerns and effectively communicate with all parties despite the sensitivity of the situation.Conduct due diligence of loan documents and lender requirements to ensure proper loan setup and servicing of the loan.Monitor and collect Evidence of Insurance, upon expiration.Audit insurance certificates and policies to ensure conformity with investor and company regulations at renewal, interpreting complex policy language to ensure proper policy performance and compliance. Maintain and update commercial mortgage insurance files and servicing system files.Identify potential risk for the company and the investor and promptly notify the appropriate parties following identification of any coverage issue, deficiency, or lapse in coverage.Maintain a high level of commercial insurance expertise, quality, understanding of risk, and possible outcomes due to coverage non- compliance.Analyze insurance deficiencies, corresponding risk and possible impacts on property financial performance.Prepare comprehensive written analyses for investor and / or management review, including insurance waiver requests and applicable coverage deficiencies, to facilitate a discussion with respect to the potential risk(s) should coverage be excluded, unavailable, or not purchased by the borrower.Reach prompt and satisfactory resolution of insurance non-compliance, or other issues. Monitor and update monthly loan reports utilized by investors and management to analyze portfolio risk, with minimal feedback from Supervisor.Review borrower requests / loan events following notification or receipt of the loan change sheet, ensuring continued insurance compliance. Requests include :Partial Release
CondemnationModificationTransfer of OwnershipManagement ChangeServe on procedure committees, annually updating company guidelines for Insurance job responsibilities.Demonstrate understanding of the new loan insurance process, timeline, and procedure(s).Perform other reasonable tasks / projects, as assigned.What We're Looking For :
Bachelor's degree in Finance, Risk Management or Insurance preferred2-4 year of Commercial Real Estate (CRE) or relevant insurance, risk management or lending-related experienceKnowledge of commercial mortgage terminology is preferredProficient in Microsoft Outlook, Excel, and WordStrong customer service mindset with a proactive approach to adding value beyond immediate requestsHighly organized with the ability to prioritize, manage workload and meet deadlinesExcellent oral and written communication skillsSkilled in risk identification and analysis while applying guidelines and procedures that leave room for interpretationNorthmarq offers a highly competitive benefits package including : medical, dental, vision, paid time off, 401K match and an annual discretionary contribution based on business performance, paid parental leave and adoption assistance, education assistance, volunteer paid time off, charitable contribution match and so much more!
Minnesota Residents : Northmarq carefully considers multiple factors to determine compensation, including a candidate's education, training, and experience. The salary range for the Commercial Insurance Analyst II position is $70,000.00 to $85,000.00 annually. This range is a good faith estimate and the actual compensation that is offered to a successful candidate will depend on the candidate's skills, qualifications, and experience.
#LI-ES1
#LI-Onsite