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Loss Draft Associate Jobs in Virginia (NOW HIRING)

YMCA

Risk Management Associate

Richmond, VA · On-site

$45K - $50K/yr

Supports Risk Management department with claims administration and analysis to assist in loss ... Ability to draft reports and other documents. Experience handling confidential material and ...

Chubb

ESIS Claims Associate

Glen Allen, VA · On-site

$16.50 - $22.25/hr

Job Title Claims Associate Are you ready to make a meaningful impact in the world of workers ... Obtain releases, proofs of loss, or compensation agreements and issue company drafts for payments ...

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Loss Draft Associate information

What is a loss draft associate?

Loss Draft Associates are professionals who work in the mortgage or insurance industry, handling the disbursement of insurance claim funds (loss drafts) for properties that have suffered damage. They act as a liaison between homeowners, insurance companies, and mortgage servicers to ensure that funds are released appropriately for property repairs. Their responsibilities typically include reviewing documentation, coordinating inspections, and monitoring repairs to protect the interests of both the homeowner and the mortgage lender.

What are the key skills and qualifications needed to thrive as a loss draft associate, and why are they important?

To thrive as a Loss Draft Associate, you need strong attention to detail, organizational skills, and knowledge of mortgage and insurance processes, often supported by a high school diploma or equivalent. Familiarity with loan servicing platforms, document management systems, and proficiency in Microsoft Office Suite are typically required. Excellent customer service, problem-solving abilities, and effective communication skills help you manage inquiries and coordinate with clients and internal teams. These skills are crucial for ensuring timely and accurate processing of loss draft claims, which supports client satisfaction and regulatory compliance.

What are some common challenges faced by loss draft associates, and how can they effectively manage them?

Loss Draft Associates often face challenges such as managing high volumes of claims, coordinating with multiple stakeholders, and ensuring timely processing of insurance disbursements. To effectively manage these challenges, strong organizational skills, attention to detail, and clear communication with policyholders, adjusters, and contractors are essential. Proactively tracking claim statuses and promptly addressing discrepancies can help maintain workflow efficiency and customer satisfaction.

What is the difference between Loss Draft Associate vs Claims Processor?

Loss Draft AssociateClaims Processor
Reviews and manages loss draft requests, verifies documentation, and communicates with clients and adjusters.Processes insurance claims, reviews claim details, and ensures proper documentation for claim approval.

Both roles often require insurance knowledge, customer service skills, and familiarity with claims systems. Loss Draft Associates focus specifically on managing loss draft payments and related documentation, while Claims Processors handle the broader claims lifecycle. They work in similar environments within insurance companies or adjuster firms, often with overlapping responsibilities. The main difference lies in their specific focus areas within the claims process.

What cities in Virginia are hiring for Loss Draft Associate jobs?

Cities in Virginia with the most Loss Draft Associate job openings:

Loss Draft Associate jobs near you

Escrow Analyst

Virginia Housing Development Authority

Richmond, VA • On-site

$47K - $63K/yr

Full-time

Posted 7 days ago

Job description

Overview
Join Virginia Housing and help make a difference as an Escrow Analyst. (Hybrid)
This important role will perform a variety of duties in support of the Escrow Administration Department. Duties include auditing, adjusting, and analyzing escrow accounts to ensure all loans will pass the analysis cycle while remaining compliant with all state, federal, and investor guidelines. Ensure timely and accurate processing of the loss draft claims process, restricted escrow, and escrow surplus disbursements. Responding to customers' and vendor inquiries through written and/or verbal communication. Duties may vary depending on Virginia Housing's business needs.
Virginia Housing is one of the nation's leading housing finance agencies. Our mission is to help Virginians attain quality, affordable housing, which we accomplish through our lending and grant programs.
We are focused on employee engagement and committed to a healthy and diverse workforce. We offer on-site conveniences such as a fitness center and free parking. Educational opportunities to help your advancement are available through classroom and online programs.
To be successful in this role you must possess:
  • Minimum of 5 years' experience in Mortgage Servicing, Escrow Analysis, Insurance/Tax Servicing including Loss Draft Claims
  • Knowledge of RESPA guidelines, industry standards, consumer protection laws & regulations impacting escrow operations areas.
  • Requires extensive critical thinking skills, aptitude for figures and accounting functions.
  • Ability to manage multiple tasks and project initiatives simultaneously with keen attention to detail

The ideal candidate would also have experience in:
  • Prior working experience with Mortgage platform Black Knight/ICE/MSP.
  • Intermediate to advanced knowledge of MS Excel, data analysis, and Sharepoint.

Applications and resumes are accepted online only at http://www.virginiahousing.com/careers
This position will close at midnight on 9/4/2026.
Hiring Range: $47,000 - $63,000
A background check will be performed as a condition of employment.
A Conflict-of-Interest Act Disclosure form and Secondary Employment Disclosure form will need to be completed as a condition of employment.
Virginia Housing requires associates to live and work within the Commonwealth of Virginia.
Internal applicants
(MR-3) Please review relevant HR policy under 'Employment Practices' on the Zone before applying.
Apply through the Zone or at http://employees-virginiahousing.icims.com/.
-EOE-
V3 Certified Military friendly employer
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