Commercial Mortgage Insurance Senior Manager – Agency/FHA/Balance Sheet

At Wells Fargo, we are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired. Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

About this role:

Wells Fargo is seeking an Executive Director to serve as a Commercial Mortgage Insurance Senior Manager to ensure life-of-loan compliance with Fannie Mae, Freddie Mac, Federal Housing Administration (FHA) and Balance Sheet commercial/multifamily insurance coverage requirements. Learn more about our career areas and lines of business at wellsfargojobs.com.

In this role, you will:

• Determine the appropriate level of insurance coverage for new multifamily/commercial loans originated by Wells Fargo under Fannie Mae, Freddie Mac, and FHA programs and Wells Fargo Balance Sheet
• Responsible for insurance compliance on a portfolio of approximately 4,000 existing commercial loans, also originated by Wells Fargo under Fannie Mae, Freddie Mac, and FHA programs
• Manage a of team of 13 Insurance Consultants and Managers who perform reviews on property and liability insurance certificates and policies for commercial multifamily properties to verify compliance with Fannie Mae, Freddie Mac, FHA, and Wells Fargo guidelines
• Oversight of our Blanket Analysis process to ensure properties that are covered under a blanket policy have sufficient coverage based on geographical locations
• Review and approval of insurance waivers prior to submitting to Fannie Mae, Freddie Mac, and/or HUD for final approval
• Correspond with offshore team, borrowers, and insurance agents to audit the compliance of insurance certificates/policies for new and existing loans
• Collaborate virtually with third-party vendors and offshore team setting process for review, full understanding of Fannie Mae/Freddie Mac/FHA and WF Bank Policy insurance requirements, to resolve insurance exceptions, and use specific criteria to quality assure and report metric results and feedback on a weekly/monthly basis
• Collaborate with senior leaders on the formulation of work procedures, policies and methods to ensure compliance with Wells Fargo, legal, investor, regulatory, and business policies, which directly affect the work unit and other departments
• Analyze management reports to optimize workflow coordination and production with domestic staff, vendors and offshore operations
• Handle special projects that primarily impact his/her functional area or specific department
• Escalate issues, evaluate and process borrowers’ servicing requests in conjunction with asset managers, internal and external counsel, and business partners, and ensure quality customer service is provided to internal/external customers
• Understand Fannie Mae, Freddie Mac, and FHA insurance guidelines, implementing changes to internal requirements and processes to ensure continued compliance and communication of all changes to all appropriate parties, including 3rd party vendor contractors
• Understand compliance and risk management requirements for supported area
• Participate in company initiatives or processes to assist in meeting its risk and capital objectives and other strategic goals

Required Qualifications:

• 6+ years of Corporate Insurable Risk Management, Risk Management Consulting, Property or Casualty Insurance, or Insurance Brokerage experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
• 3+ years of management experience

Desired Qualifications:

• 6+ years of Fannie Mae, Freddie Mac, and/or FHA Multifamily commercial insurance experience
• Familiarity with Fannie Mae DUS, Freddie Mac Optigo, and FHA MAP Guides
• 6+ years of Property and Casualty Insurance experience
• 6+ years of commercial real estate, commercial mortgage banking, or commercial mortgage loan servicing experience
• Familiarity with commercial real estate loan documents and pooling and servicing agreements
• Ability to research, compile, and perform complex analysis on insurance data
• Knowledge and understanding of compliance or risk
• Ability to independently provide summaries and make strategic recommendations
• Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
• Outstanding problem solving and decision-making skills
• Ability to work effectively, as well as independently, in a team environment
• Strong analytical skills with high attention to detail
• Intermediate Microsoft Office, including Excel, skills
• Excellent verbal, written, and interpersonal communication skills

Job Expectations:

• Ability to work additional hours as needed

Posting Locations:

• 550 S Tryon St., Charlotte, NC
• 3 Bethesda Metro Center, Bethesda, MD
• 1445 Ross Ave, Dallas, TX
• 1751 Pinnacle Dr, McLean, VA
• 500 W 33rd St, New York, NY

Pay Range:

• New York: $133,000.00 - $237,100.00 USD Annual

Required locations listed above.

Relocation assistance is not available for this position.

This position is not eligible for Visa sponsorship.

Pay Range

Reflected is the base pay range offered for this position. Pay may vary depending on factors including but not limited to achievements, skills, experience, or work location. The range listed is just one component of the compensation package offered to candidates.

Benefits

Wells Fargo provides eligible employees with a comprehensive set of benefits, many of which are listed below. Visit Benefits - Wells Fargo Jobs for an overview of the following benefit plans and programs offered to employees.

• Health benefits
• 401(k) Plan
• Paid time off
• Disability benefits
• Life insurance, critical illness insurance, and accident insurance
• Parental leave
• Critical caregiving leave
• Discounts and savings
• Commuter benefits
• Tuition reimbursement
• Scholarships for dependent children
• Adoption reimbursement

Posting End Date:

*Job posting may come down early due to volume of applicants.

We Value Diversity

At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.

Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.

Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.

Applicants with Disabilities

To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo.

Drug and Alcohol Policy

Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.

Wells Fargo Recruitment and Hiring Requirements:

a. Third-Party recordings are prohibited unless authorized by Wells Fargo.

b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.