Associate - Commercial Loan Operations, Pre-Close Insurance - Bethesda, MD

Bethesda Metro Center (17049), United States of America, Bethesda, Maryland

At Capital One, we're building a leading information-based technology company. Still founder-led by Chairman and Chief Executive Officer Richard Fairbank, Capital One is on a mission to help our customers succeed by bringing ingenuity, simplicity, and humanity to banking. We measure our efforts by the success our customers enjoy and the advocacy they exhibit. We are succeeding because they are succeeding.

Guided by our shared values, we thrive in an environment where collaboration and openness are valued. We believe that innovation is powered by perspective and that teamwork and respect for each other lead to superior results. We elevate each other and obsess about doing the right thing. Our associates serve with humility and a deep respect for their responsibility in helping our customers achieve their goals and realize their dreams. Together, we are on a quest to change banking for good.

Associate - Commercial Loan Operations, Pre-Close Insurance - Bethesda, MD

Commercial Operations (CML Ops) is one of the largest divisions in the Commercial Bank, this teams scope is horizontal across the bank and as such it supports numerous critical processes and transactions. By incubating innovative solutions and embracing technology, this team creates an unforgettable and unparalleled experience for our associates and clients. One of the most impactful groups in the CML Ops team is the Loan Operations team.

The Commercial Loan Operations team (CLO) supports a total loan portfolio of $110BN and provides ongoing support for the life of the loan. The organization focuses on delivering scale and efficiency, nailing operational risk, providing a beautiful client experience and enabling talented associates to excel. The team is currently growing and searching for a Commercial Loan Operations, Pre-Close Insurance Associate.

Pre-Close Insurance is part of the Commercial Insurance Team in Commercial Loan Operations. This new team supports multiple lines of business in Commercial Banking in managing pre-close insurance due diligence. Join and be a part of this exciting team to drive flood compliance and efficiency across commercial banking.

The Pre-Close Insurance Associate is responsible for:

  • Complying with Commercial Banking Flood Insurance and Hazard Insurance Procedures, ensuring appropriate flood insurance regulatory requirements are met.
  • Analyzing collateral types and conducting appropriate flood determination on eligible real estate collateral. Evaluating and resolving flood zone dispute when needed.
  • Identifying and confirming flood trigger events and multiple buildings situations.
  • Obtaining confirmation of contents collateral value and executed flood notices from Borrowers; performing flood insurance replacement cost value analysis; securing adequate insurance coverage; and completing appropriate flood insurance calculator and checklist in a timely manner.
  • Coordinating with third-party insurance consultants to secure proper insurance coverage.
  • Reconciling and validating pre-close flood documents with loan/mortgage documents, insurance policies, third-party evaluation reports (i.e. appraisal, environmental report), title insurance policy and survey, etc. to ensure collateral is properly vetted and reviewed.
  • Working closely with Underwriters, Commercial Closing Team, and the Compliance organization to ensure that the needs of the internal/external Flood Insurance and Hazard Insurance requirements are met.
  • Providing portfolio support including regulatory trigger events, monitoring, and controls.
  • Working independently in identifying, researching, solving, and/or responding to requests, inquiries, and problem situations in a timely manner.
  • Engaging in process improvement efforts, change management, and cross-training.

The ideal candidate:
  • Demonstrates strong attention to detail and ability to use judgment to escalate concerns as needed
  • Strong written and verbal communication skills to support interaction with varying levels of internal and external clients, stakeholders, and partner teams throughout the loan life-cycle
  • Ability to work independently and manage multiple tasks and priorities efficiently
  • Act as an advocate to ensure that the needs of the customer are met while balancing the needs of the business
  • Demonstrates high-level of integrity and professionalism

Basic Qualifications:
  • High School Diploma, GED, or military experience
  • At least 2 years of experience in financial services, banking, or insurance
  • At least 1 year of experience with Microsoft Office (Outlook, Excel, and Word) or Google Suite

Preferred Qualifications:
  • Bachelor's Degree or military experience
  • At least 1 year of experience in commercial banking
  • At least 1 year of experience working with mortgage loan documents
  • At least 1 year of experience in handling insurance documents
  • Knowledge of flood insurance regulatory requirements

At this time, Capital One will not sponsor a new applicant for employment authorization for this position.

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