Mortgage Loss Draft Manager

SUMMARY

The Loss Draft Manager is responsible for the strategic leadership, administration, and oversight of all loss draft and property claims functions within the Mortgage Servicing Department. This role ensures timely, accurate, and compliant processing of property insurance claims related to hazard, flood, and other insured property losses while protecting investor collateral and delivering exceptional borrower service.

The Loss Draft Manager provides hands-on leadership through issue resolution, root cause analysis, process improvement, and enforcement of departmental policies and procedures while partnering with senior leadership and cross-functional teams to support operational, risk management, and customer service objectives.

MAJOR DUTIES AND RESPONSIBILITIES (ESSENTIAL FUNCTIONS)

1. Loss Draft Operations & Leadership

• Direct and oversee all Loss Draft Department functions to ensure timely, accurate, and compliant handling of property damage claims.
• Manage the full lifecycle of loss draft claims, including claim setup, insurance proceeds endorsement, inspection tracking, disbursement processing, and final claim resolution.
• Lead departmental staff through training, coaching, performance management, and professional development initiatives.
• Ensure adherence to departmental standards, service level agreements (SLAs), investor guidelines, and internal controls.

2. Claims Administration & Risk Mitigation

• Oversee proper handling and endorsement of insurance claim checks in accordance with investor and regulatory requirements.
• Monitor repair progress and inspection processes to safeguard collateral and minimize financial exposure.
• Establish and enforce controls to prevent fraud, disbursement errors, and regulatory violations.
• Address complex or high-risk claims, including large-loss, total loss, and condemnation scenarios.

3. Process Improvement & Strategic Planning

• Identify opportunities for operational efficiencies through workflow enhancements, automation, and system optimization.
• Evaluate claim cycle times and performance metrics to improve service delivery and borrower experience.
• Participate in strategic initiatives to align loss draft operations with organizational objectives.
• Develop and maintain procedural documentation to ensure consistency and scalability.

4. Compliance, Audit & Regulatory Oversight

• Ensure compliance with investor guidelines, insurance regulations, and applicable federal and state mortgage servicing regulations.
• Support internal, external, and investor audits by preparing documentation, responding to findings, and implementing corrective action plans.
• Monitor regulatory updates and ensure policies and procedures reflect current compliance requirements.

5. Vendor & Stakeholder Management

• Manage relationships with third-party vendors, including inspection companies, insurance carriers, and claim processing partners.
• Monitor vendor performance and ensure contractual service standards are met.
• Serve as an escalation point for complex borrower, contractor, investor, and insurance carrier inquiries.
• Collaborate with legal counsel, risk management, compliance, and servicing teams on loss draft matters.

6. Reporting & Performance Management

• Develop and review departmental reporting to track performance metrics, claim aging, disbursement timelines, and risk indicators.
• Provide regular reporting and analysis to senior leadership.
• Use data-driven insights to improve operational effectiveness and borrower outcomes.

7. Training & Staff Development

• Train, mentor, and support team members and supervisors.
• Provide ongoing coaching to ensure compliance with policies, procedures, and performance expectations.
• Foster a culture of accountability, continuous improvement, and customer service excellence.

ADDITIONAL DUTIES AND RESPONSIBILITIES

• Perform other duties as assigned to meet the evolving needs of the organization.
• Complete all required compliance training and examinations annually.
• Adhere to all company policies and procedures.
• Maintain a professional business appearance.

EMPLOYEE SPECIFICATIONS

To perform this role successfully, an individual must be able to perform each essential duty satisfactorily. The requirements below represent the knowledge, skills, and abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION AND WORK EXPERIENCE

• Bachelor's degree required; preferably in business, finance, insurance, or a related field.
• Minimum of 5 years of mortgage servicing experience required.
• Minimum of 3-5 years of direct loss draft or property claims management experience required.
• Prior leadership or supervisory experience required.
• Proficient MSP (ICE) experience preferred.

TECHNICAL AND FUNCTIONAL COMPETENCIES

• Strong proficiency in Microsoft Word and Excel, including intermediate analytical skills such as formulas, pivot tables, VLOOKUPs, charts, and reporting dashboards.
• Working knowledge of mortgage servicing systems and loss draft processing platforms.
• Extensive knowledge of investor guidelines (FNMA, FHLMC, FHA, VA, USDA), insurance claims handling, and mortgage servicing regulations.
• Strong understanding of property insurance policies, claim disbursement procedures, and collateral protection requirements.
• Excellent analytical, organizational, and problem-solving skills.
• Ability to manage multiple projects and deadlines in a fast-paced environment.
• Exceptional written and verbal communication skills, including professional correspondence with borrowers, contractors, insurers, and investors.
• High attention to detail and accuracy in financial transactions.

WORKING CONDITIONS

This position involves primarily sedentary work performed in a professional office environment and may require the following physical activities:

• Standard office setting with a moderate noise level.
• Prolonged periods of sitting or standing, as well as walking.
• Frequent use of fine motor skills, including finger dexterity and repetitive motions.
• Regular verbal communication and auditory engagement; visual acuity including close vision is required.
• Occasional lifting of items weighing up to 10 pounds, such as computer equipment or documents.
• Periodic stooping or kneeling may be required.
• Reasonable accommodations may be made to enable qualified individuals with disabilities to perform the essential functions of the position.

If any applicant is unable to complete an application or respond to a job opening because of a disability, please email us at HR@firstunitedbank.com for assistance.