Paralegal-Flood Compliance - CoBank

Benefits Overview:

A career at CoBank can offer you the opportunity to make a personal impact on the people and communities where we do business. When you choose a career with CoBank, you make a difference by standing for something that matters. In order to be the best, we hire the best!

Remarkable Benefits Offered by CoBank

• Careers with a purpose. Stand for something!
• Time-Off Packages-15 days of vacation, 10 paid sick days and 11 paid holidays
• Competitive Compensation & Incentive
• Hybrid work model: flexible arrangements for most positions
• Benefits Packages, including Medical, Dental and Vision coverage, Disability, AD&D, and Life Insurance
• Robust associate training and development with CoBank University
• Tuition reimbursement for higher education up to $10K per year
• Outstanding 401k: up to 6% matching and additional 3% non-elective contribution
• Community Impact: United Way Angel Day, Volunteer Day and Associate Directed Contribution
• Associate Resource Groups: creating a culture of diversity and inclusion
• Recognize a fellow associate through our GEM awards

 

Job Description:

Responsible for the coordination and administration of the bank’s comprehensive Flood Disaster Protection Act (FDPA) activities. Maintains knowledge of insurance regulations and associated change necessary to comply with regulatory requirements, including ordering flood zone determinations for CoBank’s loan portfolio secured by improved real property. Independently performs analysis to determine Federal Emergency Management Agency (“FEMA”) defined building requiring flood insurance coverage for pre-close approvals, prepares flood notices, monitors Life of Loan servicing for all map changes and tracks flood insurance renewals, including force placement, as required.

Essential Functions:

1. Acts as a FDPA subject matter expert of flood laws.
2. Reviews new and existing collateral secured under Deed of Trust, Mortgage or Indenture Mortgage accordingly to confirm adherence to Flood Laws for making new, increase, renew or extensions (MIRE) events including, amendments to restated credit agreements, as needed.
3. Performs legal description mapping using Metes and Bounds software.
4. Orders flood zone determination searches for verification and determination of FEMA defined building in the special flood hazard area (“SFHA”).
5. Reviews loan documentation, and communicates mandatory flood insurance purchase requirement to the Relationship Managers, Collateral Associates, and internal and external Counsel to ensure flood due diligence issues are resolved and acceptable compliance is achieved prior to loan closing.
6. Conducts initial review of FEMA defined buildings, calculates flood insurance coverage requirements and reviews flood policy for acceptable coverage and deductible limits, according to the National Flood Insurance Program, and confirms carrier have an A.M. Best rating.
7. Performs peer reviews of flood due diligence supporting documentation prior to loan closing.
8. Performs flood insurance reviews and processes flood force placement notifications timely.
9. Performs flood invoice reconciliation and coordinates with accounts payable team to ensure vendor payments issued timely.
10. Performs post-closing quality assurance peer reviews for loans subject to the mandatory flood insurance purchase requirement for buildings in the SFHAs.
11. Assists in performing internal flood audits.
12. Performs monthly review of map changes and updates data according to flood risk.
13. Maintains and organizes flood files in electronic database.
14. Partners with other departments and/or teams to respond to customer questions related to mandatory flood insurance requirements, status updates and details of the transaction necessary to meet flood compliance after consulting with an attorney or senior manager.
15. Coordinate with external counsel and independently process agented and syndication transactions, effectively communicating and coordinates with commercial banks to meet flood compliance prior to loan closing.
16. Maintains current relevant Flood Law knowledge through attendance of relevant trainings, ongoing education, and with work groups and other experts.
17. Ensures compliance with applicable laws and regulations relating to flood insurance.
18. Provides Authorization for loan closing on all loans affected by flood regulatory requirement in loan origination system.

19. Monitors flood insurance regulation changes and updates procedures, job-aids and coordinates associate training.
20. Possess a high degree of accuracy and demonstrate detailed oriented ability skills on regulation applicability.
21.  Ability to manage multiple projects simultaneously, manage heavy workloads while meeting service level agreement.
22. Enters and maintains system of collateral tracking data accurately for all mortgaged parcels, flood zone determinations, and insurance policies.
23. Maintains reporting and performs seven year refresh of existing flood zone determinations.
24. Participates in special projects and performs other duties as assigned.

Education:

High school diploma or GED required

Work Experience:

2 years of paralegal experience, preferably in a secured lending practice or law firm. required

 

 

Preferred Qualifications

 

1. Bachelor’s degree and paralegal certification preferred.
2. 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.
3. Ability to prioritize and schedule work and projects with minimal supervision.
4. Ability to work independently with minimal guidance, as well as collaboratively in a team environment.
5. Strong analytical and problem solving skills.
6. Strong organizational and time management skills.
7. Strong detail and customer service orientation.
8. Strong verbal and written communication and interpersonal skills.
9. Demonstrated skills in Microsoft Office applications (Outlook, Word and Excel).

 

Physical Exertion Details:

Sedentary Exerting up to 10 pounds of force occasionally (Occasionally: activity or condition exists up to 1/3 of the time) and/or a negligible amount of force frequently (Frequently: activity or condition exists from 1/3 to 2/3 of the time) to lift, carry, push, pull, or otherwise move objects, including the human body. Sedentary work involves sitting most of the time, but may involve walking or standing for brief periods of time. Jobs are sedentary if walking and standing are required only occasionally and all other sedentary criteria are met.

Travel Requirement Details:

Occasional Travel occurs infrequently (typically, once a month or less).

About CoBank:

The typical base pay range for this role is between $63,000-$80,000. Compensation may vary based on individual job-related knowledge, skills, expertise, and experience. This position is eligible for a discretionary annual incentive program driven by organization and individual performance.

The listed salary, other compensation and benefits information is accurate as of the date of this posting. CoBank reserves the right to adjust compensation for all positions and to modify or discontinue benefits programs at any time in its sole discretion, subject to applicable law.

CoBank is a cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving more than 76,000 farmers, ranchers and other rural borrowers in 23 states around the country. CoBank is a member of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture, rural infrastructure and rural communities. Headquartered outside Denver, Colorado, CoBank serves customers from regional banking centers across the U.S. and also maintains an international representative office in Singapore.

 

REASONABLE ACCOMMODATION

We are committed to ensuring that our online application process provides an equal employment opportunity to all applicants, including qualified individuals with disabilities. If you are an applicant with a disability, or are assisting an applicant with a disability, and require accessibility assistance or would like to request a reasonable accommodation for any aspect of the application process, including completing an application, interviewing, or otherwise participating in the employee selection process, please submit a request by emailing recruiting@cobank.com. Include your contact information and specific details about your requested accommodation.

 

 

Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment visa at this time.

 

CoBank is an Equal Opportunity Employer

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.