Associate Insurance Specialist

About Us

Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be Americas Small Business Bank. Our products help customers buy build and expand their business and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined and we seek those who embody and embrace what it takes to empower the American dream.

How This Role Impacts Live Oak and its People

As a part of the Insurance Team the Associate Insurance Specialist will assist the Bank in meeting and exceeding audit lending servicing and credit expectations. This is achieved by ensuring loan collateral is protected through internal insurance processes that safeguard the interests of both the bank and its borrowers. This position reports to Insurance Manager.

What Youll Do at Live Oak

Collaborate effectively as a team member recognizing the importance of each individuals contribution to overall success

Develop and maintain a thorough understanding of insurance industry services and products

Perform additional duties as needed demonstrating flexibility and a willingness to cross-train

Review loans to identify documentation deficiencies and monitor for missing or incomplete insurance related documentation

Assist customers and loan teams with inquiries related to billing documentation exceptions and other insurance matters

Collaborate across departments serving as a knowledgeable resource and partner

Ensure compliance with regulatory requirements including the Bank Secrecy Act (BSA) Anti-Money Laundering (AML) Customer Identification Program (CIP) and Office of Foreign Assets Control (OFAC) to help detect and prevent unlawful activities

Make informed decisions regarding insurance coverage for loans including property floodlife and force placement

Complete insurance reviews pre- and post-closing to mitigate risk. Image and manage documentation within the loan system and maintain insurance records in collateral files

Clear insurance exceptions under direct supervision

Establish and maintain a reminder system for follow annual insurance updates across all loan products

Assist with or lead special projects relevant to the Insurance Department

Opens and processes insurance-related mail daily

Provides knowledgeable support to all team members as needed

Required Experience

Associate or bachelors degree (or equivalent work experience in insurance and / or a similar role)

Preferred Experience

Experience with SBA & Commercial loan documentation

Customer service experience

Insurance knowledge

Property & Casualty and / or Life Insurance license(s)

Our Values

Dedication : Possess a deep commitment to Live Oak Banks mission and core values exemplified through a strong work ethic adaptability and pride in your work.

Ownership : Take initiative to deliver positive results by proactively and creatively solving problems while maintaining a high degree of quality.

Respect : Treat everyone with courtesy politeness and kindness.

Innovation : Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.

Teamwork : Foster collaboration accountability and trust with others and understand that together we do more

For a detailed overview of our employee benefits please visit : Oak Bank is an Affirmative Action and Equal Opportunity Employer Minorities / Women / Veterans / Disabled. We consider applicants for employment without regard to race color religion sex sexual orientation gender identity national origin age genetic information veteran status or disability. Equal access to programs service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and / or interview process should notify human resources at .

EEO is the Law

The base pay range for this position is $19.23 - $31.25 per hour. Compensation may also include annual bonuses and long-term incentives subject to various metrics and company policy. A candidates salary is determined by several factors including travel relevant work experience or skills and expertise.

Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave including but not limited to Arizona California Colorado District of Columbia Maine Maryland Massachusetts Michigan Nevada New Jersey New Mexico New York Oregon Rhode Island Vermont and Washington.

Required Experience :

IC

Key Skills

Business Continuity Planning,Hair And Beauty,Advocacy,Food & Beverage,Backend

Employment Type : Full-Time

Experience : years

Vacancy : 1

Hourly Salary Salary : 19 - 31