Cathay Bank · 3 months ago
Escrow Insurance Specialist
Rosemead, CA, USA
Full-time
Onsite
Entry Level
$23.07/hr - $26.44/hr
1+ years expCathay Bank is a financial institution that values its team members and fosters a caring culture. The Escrow Insurance Specialist is responsible for reviewing and processing insurance payments, ensuring adequate coverage, and managing escrow accounts to prevent lapses in insurance coverage.
BankingFinanceFinancial Services
Responsibilities
Monitors insurance expirations to ensure receipt of evidence of renewal or replacement insurance coverage prior to expiration
Reviews Insurance Expiration Tracking reports daily
Collects evidence of renewals or replacement coverage prior to expiration of the existing coverage
Reviews insurance policies for accuracy and adequate coverage
Resolves gaps by contacting carriers and agencies to gather policy information and other missing data and update systems as appropriate
Works with insurance vendor for ordering and cancelling force place insurance
Set up force place fee in our core system for proper billing
Perform review of initial loan boarding to ensure escrow line and multi collateral relationship is set up properly
For escrowed accounts, ensures disbursement of payments for hazard, and flood are paid timely when due to avoid gaps and cancellation of policy
Processes incoming new insurance loss requests by properly obtaining appropriate claim information and provide claim package and follow through to completion of the repairs
Properly document all claim activity to support the outcome of the claim and save documents to the imaging center
Reviews various system-generated reports to ensure accuracy of loan system, accounting and maintenance as needed to clear errors
Ensures all insurance related documents and correspondence are uploaded to the imaging system
Qualification
Required
High school graduate or equivalent
Education or experience should include courses in accounting and/or bookkeeping
Minimum 1-2 years in loan servicing with direct experience with escrow and insurance servicing preferably with knowledge of flood determination and flood insurance review for both single family and multiple buildings and properties
Self-motivated with ability to work independently, prioritize and meet deadlines, and possess excellent follow-through skills
Proven ability to think independently and make recommendations
Possess good judgment, ability to accept responsibility and handle confidential information
Excellent follow-through skills
Possess good written and verbal communication skills
Knowledge of basic accounting
Working knowledge of MS Windows, PC spreadsheets and PC word processing
Familiarity with networked computer systems and mainframe
Benefits
Medical insurance
Dental insurance
Vision insurance
Life insurance
Long-term disability insurance
Flexible spending accounts (FSAs)
Health saving account (HSA) with company contributions
Voluntary coverages
401(k)
Company
Cathay Bank
Cathay Bank is a financial services company originally founded to support Los Angeles’ growing Chinese American community. It is a sub-organization of Cathay General Bancorp.
1001-5000 employees
Funding
Current Stage
Late StageLeadership Team
Chang Liu
President & Chief Operating Officer
Bob Romero
SVP/CIO
Recent News
Morningstar.com
2025-11-10
The Real Deal
2025-10-26
Company data provided by crunchbase