Job Description

Position: Real Estate Insurance Specialist

Who We Are:

Renovo Financial is a rapidly growing Chicago-based private lender serving real estate investors who acquire and renovate single and multi-family residential properties. We pride ourselves on supporting clients by providing unparalleled service, from the loan application through the payoff. Renovo’s reliability and “win-win” solutions-oriented approach is just one reason why our repeat and referral rates far exceed the industry average. Renovo was honored to be named one of Crain’s 50 fastest-growing Chicago companies and the 2022 Top Workplace winner, as recognized by The Chicago Tribune, and 2023 Best Workplace by Inc. Magazine.

Position Summary:

The position of a Real Estate Insurance Specialist is a newly created role at Renovo that will play a crucial role in assessing insurance policies associated with the properties in Renovo’s lending portfolio. The right candidate will ensure that the properties we lend against are adequately insured, mitigating potential risks and safeguarding our investments. Your attention to detail, analytical skills, and knowledge of insurance policies will be essential in helping the team make informed lending decisions. This role reports directly to the VP of Post Closing, at Renovo Financial, and be working directly with the Insurance Director.

Responsibilities:

• Policy Analysis: Review and analyze insurance policies provided by borrowers to verify that they meet the company's insurance requirements. This includes examining Carriers, coverage types, limits, deductibles, and policy terms.
• Coverage Adequacy: Assess whether the insurance coverage on properties aligns with the associated risks and loan terms. Identify any gaps or discrepancies that could expose the company to unnecessary risk.
• Documentation Verification: Ensure that all insurance documentation submitted by borrowers is complete, accurate, and up to date. Request any missing or outdated information as needed.
• Communication: Collaborate with borrowers, insurance agents, Insurance Carriers, and internal teams to address inquiries related to insurance requirements, policy details, and documentation.
• Risk Assessment: Evaluate the potential impact of property-related risks on the company's lending portfolio. Provide recommendations to the underwriting team regarding risk mitigation strategies.
• Policy Compliance: Monitor and ensure ongoing compliance with insurance requirements throughout the loan term. Address any changes in coverage promptly and effectively.
• Other tasks/duties as assigned.

Ideal Candidate:

The ideal candidate for this role is someone who has at least 2+ years of experience as in an insurance reviewer or similar role.

• Bachelor's degree in a related field (finance, real estate, risk management, etc.). P& C Insurance license required.
• This role will be headquartered out of the Chicago, IL with a requirement of a minimum of 3 days in the office.
• Prior experience in insurance review, risk assessment, or underwriting within the real estate, lending, or insurance industry.
• Strong understanding of various insurance policy types, coverage options, and industry standards.
• Excellent analytical skills with the ability to interpret complex policy language and assess coverage adequacy.
• Detail-oriented approach with a focus on accuracy in documentation and record-keeping.
• Effective communication skills to interact with borrowers, insurance agents, and internal stakeholders.
• Familiarity with relevant regulations and compliance requirements in the real estate and lending sectors.
• Proficiency in using software and tools for document management, database entry, and process optimization.
• Must be able to work in a demanding fast paced environment

Behavioral Characteristics:

• Self-Motivated: You take on tasks without waiting to be toldwhat to do.
• Positive Attitude: You approach situations with a proactive and positive attitude.
• Determined: You stayon course even during difficult assignments and you crave opportunity for advancement.
• Team Player: You believe that to be successful youneed to leverage and trust your team. You lead by example.
• Openminded: You always seekto find anddevelop creative solutions.

Renovo Financial is an equal opportunity employer. Renovo Financial does not discriminate in any employment actions (including hiring decisions) with regard to race, color, religion, national origin, citizenship status, ancestry, age, sex (including sexual harassment), sexualorientation, gender identityand expression, marital status, disability, military status or unfavorable discharge from military service or any other characteristic protected by law.

Renovo offers a 401k plan with employer match, paid time off, observance of company-paid holidays, medical, dental, vision benefits for employees and their dependents, maternity/paternity benefits and more.

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