Truist Premium Finance Account Representative in Lake Forest, Illinois
Req ID: R0074305
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Regular or Temporary:
Language Fluency: English (Required)
1st shift (United States of America)
Please review the following job description:
The Portfolio Management team within BankDirect is looking to add a qualified team member to support the servicing of insurance agents and their clients (insureds). The team member will also facilitate the collection of return premiums and balances due from insureds, agents and insurance companies on cancelled accounts.
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.
Research, analyze and evaluate reports and other information to manage assigned portfolio.
Train other employees on Portfolio Management functions.
Communicate with insurance agents, brokers and insurance carriers regarding the status of transactions within their portfolio.
Communicate with insureds regarding the status of their loans to attempt to prevent policies from canceling.
Work with insureds on NSF/returned payments to avoid cancellations.
Authorize the cancellation of policies if not successful in obtaining a payment from the insured and determine the collateral value of affected transactions by analyzing and evaluating the credit.
Approve the holding of issuing a Notice of Cancellation, within authority, by analyzing and evaluating the reduction in the collateral value relative to the credit taking into consideration the history with the insured and agent.
Follow up, based on size and age of the account, with general agents and insurance companies to secure return premium numbers and the anticipated date the return premium will be sent.
Analyze and determine any collateral shortages and determine next course of action.
Collect any balances due from the appropriate party based on analysis of why there is a shortage. Send loans to outside collection agency as appropriate/approved.
Recommend systemic and/or procedural changes to improve operational efficiency and/or reduce costs.
Within authority limitations, make decision to waive late fees based on account review and analysis.
Recommend and communicate payment options to reduce costs and maximize fee income.
Post return premium checks to the applicable loans.
Complete accounting adjustment requests to correct payments posted to incorrect loans.
Accounting adjustment requests to correct payments posted to incorrect loans.
The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
High School diploma or equivalent
Two years minimum collections experience
Ability to work independently and in a team environment
Good mathmatical aptitude
Excellent written and verbal communication skills
Excellent organizational and analytical skills
Excellent customer service skills
Demonstrated proficiency in basic computer applications, such as Microsoft Office software products, i.e. Outlook, Excel
General Description of Available Benefits for Eligible Employees of Truist Financial Corporation: 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. For more details on Truist’s generous benefit plans, please visit our Benefits site (https://benefits.truist.com/)
. 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. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.
Truist supports a diverse workforce and is an Equal Opportunity Employer that does not discriminate against individuals on the basis of race, gender, color, religion, citizenship or national origin, age, sexual orientation, gender identity, disability, veteran status or other classification protected by law. Truist is a Drug Free Workplace.
EEO is the Law (https://www.eeoc.gov/sites/default/files/2022-10/EEOC_KnowYourRights_screen_reader_10_20.pdf)
Pay Transparency Nondiscrimination Provision (https://www.dol.gov/sites/dolgov/files/OFCCP/pdf/pay-transp_%20English_formattedESQA508c.pdf)