• Claims Analyst II

    Fifth Third Bank, NA (Cincinnati, OH)


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    GENERAL FUNCTION: Responsible for completing and filing investor/insurer claims within required guidelines in order to recoup 5/3's investment in the property, may include loan principal, accrued interest, and corporate or escrow advancesmadeduringthelife of the loan to properly protect the investors collateral interest in the property. The residential mortgage portfolio is currently at 325,000 loans, 75% of which are investor owned and/or insured that require the completion ofaclaimuponcompletion of the default cycle. This results in approximately 200 claims being filed on a monthly basis and $30.0 million being recouped and applied annually. This position also includes the filing of Loss Mitigationclaimswiththeinvestors/insurers. The claims may be for principal, accrued interest, corporate or escrow advances as well as bank incentives for filing the claims correctly and timely. This position will also work with management andtheinvestors/insurersduringinternal and/or external file audits.

     

    Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank’s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

    DUTIES & RESPONSIBILITIES:

    + All Claims started within five business days of receipt from loss mitigation or foreclosure.

    + Filing of all investor/insurer claims within required guidelines to reduce exposure to curtailments and/or fines. In 2005, claims paid to Fifth Third totaled approximately $23.4 million.

    + Track all claims monthly for status update and/or proceeds.

    + All claims proceeds posted per investor/insurer requirements within 48 hours of receipt includes posting principal, interest, escrow, other advances, buydown funds, unapplied funds, up to $1 million per week.

    + Close out accounts to ensure all balances equal to zero through chargeoff and appropriate MortgageServ system settings.

    + Work with attorney network to ensure evictions, redemption, title issues, mobile home issues, conveyances and reconveyances are handled with due diligence to reduce exposure to curtailments and/or fines.

    + Work with property preservation vendor, hazard claim vendor, claims outsourcing vendor, city officials, etc. to ensure that the properties are being maintained to investor/insurer requirements.

    + Review all files at completion to ensure that all claims were done per investor/insurer requirements and files are prepared to reduce 5/3's exposure in investor/insurer audits.

    + Send completed file to storage and maintain tracking information for each file.

     

    SUPERVISOR RESPONSIBILITIES: None

    MIMIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

    + High school diploma.

    + Good organization skills.

    + Math skills.

    + Minimum 2 years claims experience.

    + Prior PC experience to include advanced Excel, Word and Access.

     

    Claims Analyst II

     

    LOCATION -- Cincinnati, Ohio 45227

     

    Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.