Processing Analyst I

Truist Bank•Lake Forest, IL

9d•Onsite

About The Position

Serve as a control function to protect the company's collateral by reviewing, verifying, reconciling and processing Premium Finance (PF) agreements for acceptance and funding, consistent with corporate policy and procedure. Work in tandem with Account Executives to provide PF client service for a geographic sales territory.

Requirements

High School diploma or equivalent
One year of related experience
Detail-oriented team player
Ability to excel in a fast-paced environment
Ability to multi-task and stay organized
Ability to execute sound judgment and escalate issues accordingly
Ability to communicate with all levels of the organization
Strong communication and customer service skills
Demonstrated proficiency in basic computer applications, such as Microsoft Office software products

Nice To Haves

Bachelor's degree or equivalent education and related training
Two year of loan processing and/or Premium Finance industry
Insurance, lending or financial services experience

Responsibilities

Analyze loan documents and address processing requirements to accept new and endorsed PF agreements within individual approval limit to ensure adherence to all policies and procedures prior to booking a loan
Resolve contract discrepancies by collaborating with the agent, AFCO Marketing and Sales Team.
Reconcile distribution of loan proceeds to ensure appropriate and timely distribution of funds.
Complete post acceptance policy verifications with Carriers as part of additional fraud prevention effort to help reduce collateral losses.
Complete welcome calls direct with insureds as part of additional fraud prevention efforts to help reduce collateral losses.
Monitor and ensure timely and thorough completion of open loan processing items.
Monitor and manage draft check payments to retail agent clients to ensure appropriate and timely distribution of funds.
Identify, evaluate and submit/post account adjustments and refunds to accounts.
Communicate with management and client facing sales representatives to provide updates on loan acceptance and funding information or potential situations which may delay loan funding.