Insurance Analyst - Healthcare

Description

The Insurance Analyst - Healthcare is responsible for the compliance reviews of the LEAN/HUD 232 and Merchants Bank of Indiana (MBI) healthcare loan portfolio. This position requires a detail-oriented, deadline-driven individual who can work individually, with members of other teams as well as with his/her own team to manage multiple tasks and projects simultaneously. This position will report to the Team Lead, Healthcare – Insurance Servicing and have extensive internal and external customer interaction.

Success in this position will produce efficient, high-functioning portfolios ensuring accuracy and compliance while providing excellent customer satisfaction to our clients and the internal team. Continued growth and development towards a manager role in the department.

Requirements

• This position will work with private label clients and third-party vendors to ensure insurance is in compliance prior to closing.
• Review loan documents to determine loan-specific insurance requirements. This includes, but is not limited to, appraisal, engineering, seismic, and environmental reports.
• Point of contact on insurance questions, coverage requirements and investor guidelines.
• Conduct due diligence of loan documents to ensure proper loan setup and servicing of the loan using our servicing system, SS&C PLM. This includes, but is not limited to, ACORD and/or policy review, annual premium documentation (including finance plans) and any corresponding insurance waiver risk analysis.
• 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.
• Engage in proactive communication with clients, borrowers, operators, management companies and/or insurance agents/brokers to obtain clarification on insurance coverage limits, policy structure, and/or deductibles. Remediate any non-compliant insurance.
• Respond timely to inquiries from internal and external customers, ensuring that the proper notification, escalation, communication, and coordination occurs with management related to the performance of job duties, as needed.
• Monitor reports and deadlines to ensure work is completed in advance of set timelines, proactively communicating portfolio status with manager as needed. 
• Train and develop junior level team members.

Expected Experience, Skills and Education:

• Bachelor’s degree, preferably in the business or finance areas; or insurance-related industry designations with direct experience and demonstrated ability to perform the required tasks.
• Clear knowledge of Commercial Insurance Coverage – Property, (including Flood, Wind, Earthquake and Terrorism), General Liability (including Workers Comp and Auto), Professional Liability and Umbrella/Excess Liability Insurance.
• Familiarity with LEAN/HUD 232, escrow requirements and finance agreements preferred.
• Requires problem solving skills as well as the initiative to troubleshoot and find resolutions.
• Requires excellent communication skills, written and oral, through all levels of the organization.
• Must demonstrate the ability to identify, interpret and apply applicable guidelines in managing assigned processes.
• Ability to educate others with the ability to translate insurance concepts into clear actionable information/instruction. 
• Ability to learn quickly and demonstrated ability to work independently in fast-paced environment.
• Must demonstrate the ability to successfully schedule own workload to most efficiently meet multiple deadlines and manage assigned portfolio, prioritizing according to risk and urgency.
• Flexibility and ability to work under pressure with tight deadlines and constant interruptions.
• Must possess strong organization and communication skills with a focus on accuracy and attention to detail.
• Ability to work well as part of a team while also capable of self-motivation and strong individual performance.
• Providing premier customer service to investors, borrowers, agents and co-workers.
• Ability to maintain a positive attitude in all situations
• Requires high level of computer proficiency in Microsoft Office, specifically regarding Outlook, Word and Excel.

Pay Range: 

The total compensation pay range for new hires in Minnesota is $71,000 - $83,000 annually. This range includes a base pay, plus an annual discretionary bonus. The amount of any actual bonus may vary and is subject to individual and company performance. Please note that the pay range provided is a good faith estimate of total compensation for the position at the time of posting. Actual total compensation will be dependent on factors, including but not limited to, the individual’s qualifications, experience, knowledge, skills, and abilities.

Our Benefits:

Merchants offers a comprehensive package of benefits for eligible employees, including, but not limited to: 401(k) employer contributions; employee stock ownership plan (ESOP); medical, dental and vision insurance; various types of leaves of absence, including paid time off, paid holidays, paid leave as provided under state and local paid leave laws, and short-term and long-term disability; health savings accounts (HSAs), flexible spending accounts (FSAs), dependent care and commuter reimbursement accounts, employee and dependent life insurance and supplemental life and AD&D insurance; telehealth, optional ancillary insurance policies, education assistance, and an employee assistance program. Eligibility for benefits is governed by the applicable plan documents and policies.

ABOUT MERCHANTS CAPITAL

With over 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multifamily housing nationwide. Our licenses with Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways. Recognized as a top five affordable lender, Merchants Capital pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners. To learn more about Merchants Capital, visit www.merchantscapital.com.