Flood Compliance Specialist Job at Comerica Bank
Flood Compliance Specialist
The Flood Compliance Specialist role will be responsible for handling all pre- and post-closing flood insurance regulatory activities to ensure compliance of governmental requirements on Comerica's commercial loan portfolio. This will include ordering flood hazard determinations, analyzing results, working with Loan Closers, Lending Assistants, and Relationship Managers to obtain required documentation when real estate is located in a designated flood hazard area, preparing flood worksheets, assessing adequacy of insurance and supporting documentation, completing post-closing review and all flood maintenance activities and providing authorization to close on affected loan requests.
The Flood Compliance Specialist role will be responsible for handling all pre- and post-closing flood insurance regulatory activities to ensure compliance of governmental requirements on Comerica's commercial loan portfolio. This will include ordering flood hazard determinations, analyzing results, working with Loan Closers, Lending Assistants, and Relationship Managers to obtain required documentation when real estate is located in a designated flood hazard area, preparing flood worksheets, assessing adequacy of insurance and supporting documentation, completing post-closing review and all flood maintenance activities and providing authorization to close on affected loan requests.
Position Competencies
Successful incumbents possess strong organizational and problem-solving skills, are customer focused, can analyze data and make decisions, are action oriented, possess strong time management, functional/technical and verbal/written communication skills.
Successful incumbents possess strong organizational and problem-solving skills, are customer focused, can analyze data and make decisions, are action oriented, possess strong time management, functional/technical and verbal/written communication skills.
Position Responsibilities:
- Serve as Subject Matter Expert (SME) for Flood regulations and process for all levels of bank personnel.
- Order flood determinations for new loan requests and handling of existing loan portfolio to ensure adherence to regulatory requirements.
- Provide Authorization for loan closing on all commercial loans affected by flood regulatory requirements.
- Review flood determination results to determine next steps to ensure regulatory compliance.
- Work with vendor to ensure collateral is monitored for flood insurance for the life of the loans in Comerica's Commercial Loan Portfolio.
- Validate evidence of flood insurance through review of documentation on file to ensure regulatory compliance.
- Manage force placement activities for loans that are not compliant with the regulation.
Position Qualifications:
- Bachelor's degree from an accredited university in business or related field of study or four years related bank experience
- 4 years of experience handling regulatory matters
8:00am - 5:00pm Monday - Friday
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