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Flood Monitoring Analyst

El Monte, United States

Introduction

Since 1973, East West Bank has served as a pathway to success. With over 110 locations across the U.S. and Asia, we are the premier financial bridge between the East and West. Our teams of experienced, multi-cultural professionals help guide businesses and community members on both sides of the Pacific looking to explore new markets and create new opportunities, and our sustained growth and expertise in industries like real estate, entertainment and media, private equity and venture capital, and high-tech help build sustainable businesses and expand our associates’ potential for career advancement.

Headquartered in California, East West Bank (Nasdaq: EWBC) is a top-performing commercial bank with a strong foundation, an enterprising spirit and a commitment to absolute integrity. East West Bank gives people the confidence to reach further.

Overview

The Asset Monitoring Analyst is responsible for handling all pre and post-closing flood insurance regulatory activities to ensure compliance of governmental requirements on commercial and residential loan portfolio. This includes ordering flood hazard determinations, analyzing results, working with Relationship Managers and Mortgage Origination 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.

This position has responsibilities to provide guidance and training to relationship managers, closing team, mortgage origination team, etc.

Responsibilities

Provide Authorization for loan closing on all loans affected by flood regulatory requirements.
Review flood determination and analyze results to determine next steps and ensure regulatory compliance with applicable Federal and State laws.
Enter all data into flood tracking database and loan systems and reconcile with vendors and various loan system.
Prepare flood worksheet to ensure loan is compliant and appropriate flood insurance has been obtained when property is located in a Special Flood Hazard Area (SFHA).
Perform post-closing review of all flood related documentation on executed loan documents to ensure flood regulatory requirements have been met and system information is updated as necessary.
Image applicable documents for easy identification and tracking and create and maintain flood files for property located in a SFHA.
Work with vendor to ensure collateral is monitored for flood insurance for the life of the loans.
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.
Perform research for response to audits/exams. Provide auditors with appropriate documentation and answers relative to regulatory flood requirements.
Create and maintain compliant and well organized flood files for property located in a SFHA.
Work with manager to implement changes to regulation and updates to flood procedures manual.
Perform all other duties as requested.

Qualifications

Bachelor Degree in Finance or Accounting Degree required, or equivalent work related experience
Minimum 5 years of experience in the Loan Servicing Industry with Flood Monitoring
Thorough knowledge of Flood regulatory requirements
Loan system experience required including document imaging system
Familiarity with Loan Documents and Appraisal reports required
Proficient in Microsoft Office with advanced Excel skills required
Excellent written and verbal communication skills required
Strong organizational, analytical and problem solving skills
Ability to handle multiple tasks with excellent attention to detail
Ability to organize and maintain a high volume work environment
Ability to adapt quickly to changes and perform in a fast paced environment
Ability to build effective relationships as needed to effectively address issues and obstacles

Compensation

The base pay range for this position is USD $28.50/Hr. - USD $31.00/Hr. Exact offers will be determined based on job-related knowledge, skills, experience, and location.

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