Doc Specialist

Company: MidFirst Bank
Location: Oklahoma City
Posted on: September 8, 2023

Job Description:

PURPOSE OF POSITION

Associate is responsible for mitigating collateral related risk through collection and review of various types of insurance, including but not limited to, hazard, builder's risk, business assets and general liability. Review of these policy types include working with an outsourced vendor to ensure the policy meets MFB credit requirements and force-placing insurance following bank and regulatory requirements, when applicable. Additionally, it requires monitoring, reviewing and force-placing flood insurance, when applicable, which is highly regulated and requires excellent attention to detail and organization skills. The team member is also responsible for monitoring ad valorem taxes and ensuring exceptions are appropriately monitored to mitigate loss of collateral or lien position.

PRINCIPLE DUTIES AND REPONSIBILITES

• Monitor and review hazard, builder's risk, business assets and general liability insurance to mitigate collateral risk.
• Manage relationship with outsourced vendor to ensure notices and force-placement are accurately processed.
• Review daily reports and post for business unit managers and staff to monitor for notices mailed.
• Manage flood insurance monitoring to ensure that collection of insurance, review of insurance, mailing of notices and force-placement occur within regulatory and procedural requirements.
• Mitigate flood risk through weekly audit of flood record setup and monthly flood audit of all flood hazard determinations that show collateral located in a SFHA.
• Monitor ad valorem tax payment to mitigate risk related to loss of collateral or lien position.
• Perform miscellaneous administrative duties or projects as assigned.
  
  SKILL SETS
  
  
  • Strong knowledge of flood monitoring regulations preferred
  • Experience reviewing and analyzing insurance policies, strong preferred
  • Strong reading, comprehension and writing skills
  • Strong knowledge and understanding of typical Credit Agreement Covenants (preferred)
  • Strong PC skills' including word processing and spreadsheet applications
  • Exceptional interpersonal, oral and written communications skills
  • Exceptional customer service skills
  • Strong knowledge of consumer and commercial loan documents
  • Excellent organization and multi-tasking skills
  • Must be punctual and have strong attendance record
  • Excellent ability to work cooperatively with all personality types and communication styles
  • Excellent attention to detail while maintaining efficiency
  • Basic knowledge of the Uniform Commercial Code, Regulation B, C, Z, RESPA, Fair Credit Reporting Act, and other federal and state regulations on lending and consumer compliance (preferred requirements)
    
    DISCLAIMER STATEMENT
    
    The above statements are intended to describe the general nature and level of work being performed by personnel assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties and skills required. Incumbent may perform other duties as assigned.
    
    Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
    
    The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

Keywords: MidFirst Bank, Oklahoma City , Doc Specialist, Other , Oklahoma City, Oklahoma