Flood Paralegal

Description:

• Flood Paralegal.
• Contract only
• 2-3 days in office. Tuesday/Wednesday/Thursday are typical in office days.
• Paralegal with Flood Insurance Compliance, Mortgage Lien filing, collateral monitoring, tracking, and safekeeping.
• *Paralegal Certificate is preferred but not a hard requirement.

Job Summary:

• Flood Paralegal primary role is responsible for handling pre- and post-closing flood due diligence to ensure compliance with regulatory requirements when the bank makes, increase, renews or extends a loan. This includes ordering flood hazard determinations, analyzing results, and working with the Deal Team to obtain required documentation when real estate secures the loan that contain building(s) located in a designated special flood hazard area requiring flood insurance prior to loan closing.

Essential Duties and 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.
• Analyze flood determinations, flood maps, and supporting documentation on file to determine buildings in a special flood hazard area and flood insurance requirements.
• Analyze new flood determination ordered vs use of existing flood determination.
• Maintain knowledge of requirements to order flood determinations and effectively analyze results.
• Analyze flood insurance policy for compliance.
• Perform review of carriers for acceptable A.M. Best insurance rating for all insurance policies.
• Participate as SME on assigned project teams to evaluate potential impacts of new processes and systems upgrades on Flood Portfolio activities and regulatory compliance.
• Collaborate with Relationship Managers, Lending Specialist, Collateral Paralegal, and Loan Closers to complete necessary due diligence and flood documentation.
• Mitigate Risk by working with Relationship Managers, Collateral Paralegals, Loan Closers, and processing team members to obtain required documentation for compliant files.
• Effectively communicate clear and detailed instructions needed to meet regulatory requirements.
• Resolve issues for the most complex documentation by providing appropriate instructions to all levels of bank personnel on flood specified loans.
• Perform post-closing review of all flood related documentation on executed loan documents. Ensure system information updated as necessary.
• System tracking of collateral set up to confirm accuracy and completeness.

Other Duties and Responsibilities:

• Assists attorneys in due diligence document requests for issuances of preferred stock and subordinated debt.
• Participates in special projects and performs other duties as assigned.
• Basic Qualifications
• Two (2) or more years of paralegal experience, preferably in bank or commercial real estate lending or appropriate combination of education and experience.
• High School Diploma

Other Qualifications:

• Bachelor s degree and paralegal certification preferred.
• Basic knowledge of legal, commercial lending, and lease terminology, title insurance, real estate law, the Uniform Commercial Code and collateral documentation, with intermediate knowledge of some of these areas preferred.
• Basic knowledge of Flood Disaster Protection Act of 1973
• Demonstrated skills in Microsoft Office applications (Outlook, Word and Excel).
• Ability to prioritize and schedule work and projects with minimal supervision.
• Ability to work independently with minimal guidance, as well as collaboratively in a team environment.
• Strong analytical and problem solving skills.
• Strong organizational and time management skills.
• Strong detail and customer service orientation.
• Strong verbal and written communication and interpersonal skills.