Team Member

Job Description:

About Us

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection.  Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

 Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Global Business Services

Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.

Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.

In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.

Process Overview*

The WF&IO team works on the various Commercial FLUs (Front Lint Unit) and Credit Fulfillment that ensures non flood due diligence is performed on all Real Estate secured loan originations and renewals (MIREs: Make, Increase, Renew, Extend) before loan closing.  WF&IO has robust routines to monitor the life of loans that meet credit policy thresholds to ensure adequacy of insurance coverage annually.

Pre QA – Team verifies the information and collateral details on Legal property documents and Borrower information before the funding of the loan to the borrower. In addition, the team is also responsible to perform the Inline QA on the UCC continuation queue

Insurance - Team monitors the Collaterals of the Line of Credits and ensure timely renewal of the various Insurance Policies on Hazard, Content, Liability & Life Insurance

UCC - Team is involved in continuation of UCC statement in every 5 years for perfection of security interest on the collateral during the life of a loan

Job Description*

The person will be responsible to perform End to End Insurance renewal and update the System of Record before Policy expiration, to avoid any catastrophic financial risk. The team is also involved in UCC continuations, Order Determinations and other Insurances renewals where we send the renewal reminder letters.

Responsibilities*

Responsible for annual renewal verification of insurance and ensuring necessary system updates are made. Review includes fax notification to agent, escalations to business partners and update System of Records

Requirements

Good communication skills

 Education*

Certifications If Any

Experience Range*

0-2 years

 Foundational skills*

•            Operations Management

•            Loan Cycle

 Desired skills

Work Timings*

07:30am - 01:30 am (Rotational)

Job Location*

Gift City

Experience Level

Mid Level