Claims Analyst I at Fifth Third Bank

Cincinnati, Ohio, United States

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Not SpecifiedCompensation

Junior (1 to 2 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial Services, MortgageIndustries

Requirements

High school diploma
Good organization skills
Math skills
0-2 years mortgage default or mortgage servicing related experience
Prior PC experience to include advanced Excel, Word and Access

Responsibilities

Start all claims within five business days of receipt from loss mitigation or foreclosure
File all investor/insurer claims within required guidelines to reduce exposure to curtailments and/or fines
Track all claims monthly for status update and/or proceeds
Post all claims proceeds per investor/insurer requirements within 48 hours of receipt, including posting principal, interest, escrow, other advances, buydown funds, unapplied funds (up to $1 million per week)
Close out accounts to ensure all balances equal zero through chargeoff and correct the appropriate MortgageServ system settings
Work with attorney network to ensure evictions, redemption, title issues, mobile home issues, conveyances and reconveyances are handled with due diligence to reduce exposure to curtailments and/or fines
Work with property preservation vendor, hazard claim vendor, claims outsourcing vendor, city officials, etc. to ensure properties are maintained to investor/insurer requirements
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures
Accountable for always doing the right thing for customers and colleagues, ensuring actions and behaviors drive a positive customer experience
While operating within the Bank’s risk appetite, achieve results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types

Skills

Key technologies and capabilities for this role

Claims ProcessingInvestor ClaimsInsurer ClaimsLoss MitigationMortgage ServicingForeclosure ProcessingRisk ManagementData Tracking

Questions & Answers

Common questions about this position

Is this position remote or onsite?

This position is onsite in Cincinnati, Ohio at the Madisonville Office Building 4 days a week, and the company is unable to hire for remote on this opening.

What are the minimum qualifications for this role?

A high school diploma is required, along with good organization skills, math skills, 0-2 years of mortgage default or mortgage servicing related experience, and prior PC experience including advanced Excel, Word, and Access.

What is the salary for the Claims Analyst I position?

This information is not specified in the job description.

Does this role involve any supervisory responsibilities?

No, there are no supervisory responsibilities for this position.

What experience makes a strong candidate for this Claims Analyst role?

Candidates with 0-2 years of mortgage default or servicing experience, strong organization and math skills, and advanced proficiency in Excel, Word, and Access will be well-suited.

Fifth Third Bank

Provides banking, loans, and wealth management services

About Fifth Third Bank

Fifth Third Bank offers a variety of financial services, including personal and business banking, loans, mortgages, credit lines, and insurance products. Their services cater to individual consumers, small businesses, and commercial clients, providing comprehensive solutions for managing finances. The bank generates revenue through interest on loans, service fees, and commissions from insurance and investment products. Unlike many competitors, Fifth Third Bank emphasizes community engagement and financial education, providing resources to help clients improve their financial literacy. The goal of Fifth Third Bank is to support clients in achieving their financial objectives while fostering a strong connection with the communities they serve.

Cincinnati, OhioHeadquarters

1858Year Founded

IPOCompany Stage

Social Impact, Financial ServicesIndustries

10,001+Employees

Benefits

Health Insurance

Paid Sick Leave

Paid Holidays

Performance Bonus

Flexible Work Hours

Risks

Rising interest rates may decrease demand for loans and mortgages.

Competition from fintechs like Robinhood threatens Fifth Third's wealth management sector.

Sophisticated cybersecurity threats pose risks to customer data and trust.

Differentiation

Fifth Third Bank offers comprehensive financial solutions for individuals and businesses.

The bank emphasizes community engagement and financial education for client empowerment.

It provides a wide range of insurance products, including life, health, and disability.

Upsides

Increased demand for digital banking boosts Fifth Third Bank's online service offerings.

Partnerships with fintech enhance technological capabilities and customer experience.

Growing interest in sustainable finance attracts environmentally conscious customers.

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