Commercial Loan Operations - Pre-Close Insurance Associate

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.

Commercial Loan Operations - Pre-Close Insurance Associate

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.

Basic Qualifications:
  • High School Diploma, GED or military experience
  • At least 2 years of experience in financial services, banking, or insurance
  • Experience with Microsoft Suite

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

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

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