Insurance Analyst (Operations Analyst 5)
Job DescriptionCommercial Mortgage Servicing monitors insurance coverages for Fannie Mae, Freddie Mac and FHA Multifamily Portfolio to ensure compliance with loan documents, servicing agreements and investor guidelines. The Insurance Operations Analyst 5 is responsible for initiating and responding to communication from customers, insurance agents, external vendors and internal personnel, regarding the insurance coverage on loans. This position provides support to the Insurance Team within the Multifamily Capital Group in Commercial Mortgage Servicing. Conducts quality assurance reviews and/or analytical document reviews. Manages insurance requests from Freddie Mac by obtaining & updating ICT with new insurance coverages. Issues insurance deficiency letters for mortgagee clauses/ loans not within compliance on new securitized deals and loans with outstanding issues. Reviews loan data integrity reports, ensuring all procedures are in compliance with agency, internal controls, and company policies. Acts as an escalation point for loan servicing specialists to resolve issues and provide training. Answers questions pertaining to insurance, research and analyze problems and recommending solutions. Research, compile, and perform complex analysis on function's most critical operational data, including reading, interpreting, and researching reports and complex real estate commercial mortgage documents (eg, closing reviews, insurance certificates, promissory notes, deeds, loan agreements, leases, legal, appraisal, and title information). Collaborates with Risk & Management team to resolve analyze Quarterly Subservicer Reports. Utilize specific criteria to quality assure and report metric results and feedback on a weekly/monthly basis to management and the team. Assist with auditing the compliance of insurance certificates/policies. Collaborates with management in the formulation of work procedures, policies and methods to ensure compliance with Wells Fargo, investor, regulatory, and business policies. Analyze production reports and assist with delegating workflow to optimize production with the team and vendor operations. Handles special projects that primarily impact his/her functional area or specific department. Collaborate with asset managers, and business partners, while ensuring quality customer service is provided to internal/external customers. Conduct quality assurance of loans to ensure process and procedures for securitized deals. Identify and present recommendations for procedural modifications to management. Additional responsibilities include supporting management with miscellaneous functions, within the Insurance Team. Team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following, and adhering to all applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.Required Qualifications7+ years of operations analysis experienceDesired QualificationsAbility to research, compile, and perform complex analysis on critical operational dataExtensive knowledge and understanding of operations policies and proceduresAbility to independently develop strategic recommendations on operational dataAbility to partner with, and lead other functions on operations-related projectsExcellent verbal, written, and interpersonal communication skillsOutstanding technical and critical thinking skillsLeadership skillsAdvanced Microsoft Office skillsOther Desired Qualifications 2+ years quality assurance review or analytical document review Experience with GSE Multifamily Agencies, such as Fannie Mae, Freddie Mac and HUD Knowledge of Multifamily Fannie Mae, Freddie Mac, and HUD Insurance Guidelines Familiarity with Multifamily Loan documents and requirements Multifamily or Commercial Mortgage experience Familiarity with insurance terminology and related loan documents Ability to research, compile and perform complex analyses on coverage issues Ability to independently provide summaries and make strategic recommendations to leadership team Strong organizational and problem solving skills Strong customer service skills Outstanding trouble shooting and resolution skills Experience in supporting multiple functions and projects Possess expert-level technical, analytical, and critical thinking skills Knowledge of Blanket Insurance and multi-layer insurance policies, Self-insured Retention programs Ability to be detail-oriented in an evolving industry and prioritize and manage multiple tasks within tight deadlines and work in a team environment Clear communication and presentation skills Strong team player, with demonstrated initiative and ability to work independentlyDisclaimerAll offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.Relevant military experience is considered for veterans and transitioning service men and women.Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.