AmTrust Financial Services
 

Collateral Specialist


Overview

AmTrust Financial, a multinational insurance holding company, is currently recruiting for a Collateral Specialist in Irvine, California.

The Collateral Specialist will be responsible for all aspects of drafting, amending, receiving, implementing, maintaining, updating, and releasing of the companys collateral positions, including obtaining supporting source documentation in accordance with Company policies and procedures.

Evaluates lien positions and presents findings to underwriters. Maintains contact with all appropriate individuals including, financial institutions, escrow and title companies, regarding the companys collateral procedures and positions. Other administration and analysis as required.

Responsibilities

Responsibilities:

  • Preparation, recording, subordination and re-conveyance of trust deeds.
  • Draft and file appropriate documents to perfect or release security interests in personal property or intangibles such as UCC financing statement documents (UCC-1, UCC-2, UCC Ts, etc.) in various jurisdictions as appropriate.
  • Upon request by underwriting, initiate title searches, prepare trust deeds and related real estate instruments, and initiate the recording at the County as required.
  • Arrange for appraisals or for insurance coverages to be extended to the Surety, upon request by Underwriting.
  • Conduct and evaluate title searches and determine whether the surety will have the lien position projected in the initial request.
  • In coordination with branch and home office staff and financial institutions, agents and principals, administers bond collateral job functions including, but not limited to, inputting, maintaining and updating all collateral instrument records in the collateral database.
  • Tracks and processes other forms of collateral in accordance with in-force policies including cash, Irrevocable Letters of Credit, Assignment of CD, Assignment of Savings Accounts, other forms on personal or intangible property, etc.
  • Determine when proposed transactions do not match in-force policy and seek appropriate authorization before processing.
  • Prepare and process all applicable Collateral Transaction Requests in a timely manner and in accordance with policies and procedures.
  • Performs custodial functions by filing and maintaining all actual collateral instruments in a designated safe environment.
  • Manages accounting of third-party ITF accounts including analyzing bank reconciliations and other financial records.
  • Administrator of on-line credit reporting accounts and other on-line tools.
  • Performs miscellaneous administrative duties as necessary such as mailing, copying, scanning and filing.
  • Performs other duties and responsibilities and/or special projects as assigned or delegated.
Qualifications

Qualifications:

  • Bachelors Degree in Finance or related field is preferred.
  • Knowledge of real estate collateral and real estate transactions is essential.
  • Must have a minimum of 3 years of mortgage finance documentation experience.
  • Knowledge of escrow transactions is required.
  • This position requires sufficient familiarity with real estate transactions to understand and interpret title searches and whether the surety will have the lien position with the proper priority projected in the initial request.
  • Proven ability to perform the duties of an escrow officer or duties of a lending document drafter is very desirable.
  • Experience in the insurance industry is desirable.
  • Must be detail oriented and organized, and possess strong financial and analytical skills.
  • Ability to adhere to strict time deadlines.
  • Must possess excellent communication skills.
  • Ability to solve problems by exercising sound decision-making and accurate judgment based upon knowledge of departmental financial practices, policies and procedures.
  • Experience with MS Word, MS Excel, Outlook and other on-line software products.

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About AmTrust Financial Services

 

AmTrust Financial Services, Inc. was founded in 1998 to provide property and casualty insurance to small businesses. Through acquisitions and organic growth, AmTrust Financial Services has since grown to become a multinational property and casualty insurer specializing in coverage for small to mid-sized businesses. Our financial stability is based upon a philosophy of niche diversity with a focus on low-hazard risk.

Since its inception, AmTrust has crafted a balanced portfolio of insurance products including:

  • Multiline Small Business Insurance
  • Warranty and Specialty Risk Insurance
  • Specialty Program Business Insurance

In November 2006, the company became publicly traded on the NASDAQ Global Market under the symbol AFSI. With extensive underwriting experience and a prestigious "A" (Excellent) Financial Size "XI" rating from A.M. Best, AmTrust has earned a reputation as an innovative, technology driven provider of insurance products. Our commitment to excellence is the common thread connecting each of our businesses.