AFCO Direct Carrier Returns Specialist

Truist Bank • Florence, SC

13d

About The Position

Facilitate the collection of return premiums and balances due from insureds, agents and insurance companies through verbal and written correspondence with all applicable parties to the loan transaction. Work closely with management to ensure collection problems are identified and resolved to minimize delinquencies and loan loss.

Requirements

• High School diploma or equivalent
• Ability to work independently
• Excellent written and verbal communication skills
• Excellent organizational and analytical skills
• Demonstrated proficiency in basic computer applications, such as Microsoft Office software products
• Ability to travel, occasionally overnight

Nice To Haves

• Bachelor's degree or completion of a technical school in a related subject
• Two years of premium finance experience, preferably in operations, collections or related discipline or in the property and casualty insurance industry

Responsibilities

• Communicate with insurance carriers, intermediaries and insurance agents/brokers to verify vital information regarding cancelled accounts and document files accordingly with information collected.
• Pursue collection activities on assigned portfolio of cancelled accounts as outlined in line of business policies and procedures.
• Respond to telephone and written inquires on assigned loan portfolio or when appropriate, respond to inquiries that have been redirected from other departments.
• Communicate regularly with internal sales and marketing staff regarding cancelled accounts, losses and agency delinquencies.
• Review and make decisions on handling of assigned accounts once initial carrier collections activities have been completed.
• Exercise judgment within established authority limits to make decisions related to the charge-off of delinquent loan balances and prepare to explain the reasons for the loss.
• Recognize the warning signs of agency fraud/non-compliance and ensure that management is notified of these instances for further investigation and/or action.
• Review delinquent loans and make determinations on deferring or proceeding with cancellation requests to the insurance carrier.
• Review payments received on cancelled loans and determine appropriate action.
• Compute interest adjustments using various calculation methods, calculate payoffs and prepare refunds.

Benefits

• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED
• Number of Employees: 5,001-10,000 employees