AFCO Direct Special Collections Analyst

Truist Bank•Lake Forest, IL

About The Position

Under minimal supervision, monitor the collection activity of all bankruptcy accounts and assist in the direction and coordination of collection attorneys and collection agency activities. Work closely with the Premium Finance Counsel and manager to establish a collection strategy on new bankruptcy and special collection cases. Assemble and compile data for reports, complete general correspondence and perform miscellaneous administrative duties. ESSENTIAL DUTIES AND RESPONSIBILITIES Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time. 1. Research existing customer new bankruptcy filings on PACER (Public Access to Court Electronic Records) online system. 2. Prepare and present to manager, Premium Finance Counsel and underwriting, AFCO's collateral position and payment status on new bankruptcy cases. 3. Communicate directly with bankruptcy attorney or trustee regarding customer insurance needs and payment plans. 4. Maintain bankruptcy follow-ups, letters and filing proof of claims to appropriate Federal district courts. 5. Gather and respond to requests for information for preference claims, other legal defense matters and bankruptcies. 6. Assist manager in handling phone, email and mail correspondence related to accounts placed with attorneys and outside collection agencies. 7. Prepare reports and direct monthly meeting with premium finance senior management on special collection and open agent fraud cases. 8. Pursue collection activities on assigned portfolio of cancelled accounts as outlined in line of business policies and procedures. 9. Collect information from reviews of account files and prepare information for management review, including calculations of collateral positions. 10. Coordinate outsourcing to the collection agencies. Handle correspondence and requests from the collection agencies. 11. Maintain follow-up calendar and schedule meetings with manager and Premium Finance Counsel to review open collection matters. 12. Compute interest adjustments using various calculation methods, calculate payoffs and prepare refunds.

Requirements

High School diploma or equivalent education and related training
Two years of experience in the insurance industry, preferably in collections with exposure to bankruptcy and plaintiff litigation
Ability to work independently with minimal supervision
Demonstrated proficiency in basic computer applications, such as Microsoft Office software products
Strong organizational skills
Strong written and verbal communication skills
Ability to travel, occasionally overnight

Nice To Haves

Associate or bachelor's degree from a technical school in a related subject
Five years of experience in collections.
This position requires an individual who will physically work within Illinois or be required to travel to Illinois for work.

Responsibilities

Research existing customer new bankruptcy filings on PACER (Public Access to Court Electronic Records) online system.
Prepare and present to manager, Premium Finance Counsel and underwriting, AFCO's collateral position and payment status on new bankruptcy cases.
Communicate directly with bankruptcy attorney or trustee regarding customer insurance needs and payment plans.
Maintain bankruptcy follow-ups, letters and filing proof of claims to appropriate Federal district courts.
Gather and respond to requests for information for preference claims, other legal defense matters and bankruptcies.
Assist manager in handling phone, email and mail correspondence related to accounts placed with attorneys and outside collection agencies.
Prepare reports and direct monthly meeting with premium finance senior management on special collection and open agent fraud cases.
Pursue collection activities on assigned portfolio of cancelled accounts as outlined in line of business policies and procedures.
Collect information from reviews of account files and prepare information for management review, including calculations of collateral positions.
Coordinate outsourcing to the collection agencies. Handle correspondence and requests from the collection agencies.
Maintain follow-up calendar and schedule meetings with manager and Premium Finance Counsel to review open collection matters.
Compute interest adjustments using various calculation methods, calculate payoffs and prepare refunds.

Benefits

All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position.
Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates.
Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays.
Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan.

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