Loan Operations Associate – Credit Insurance

Job title:

Middle Office Analyst (Insurance Operations)

Job location:

New York, New York ( hybrid
-3 days onsite)

Job type:
Contract - W-2

A global bank is seeking a Middle Office Analyst. The Middle Office Analyst for Insurance Operations is responsible for the end-to-end management of credit insurance for all relevant transactions. This position partners with Front Office Business Lines, Operations Management and external brokers to ensure the accurate and timely handling of insurance premiums, bookings, and monitoring.

• Insurance Lifecycle Management:
  Serve as the subject matter expert for all credit insurance activities, from pre-closing review(if applicable), payment to set up in LIQ
• Premium Calculation and Processing:
  Accurately calculate insurance premiums based on credit agreements and insurance certificates, and process timely payments to brokers.
• System Booking and Monitoring:
  Utilize Loan IQ (LIQ) to properly book, monitor, and reconcile all insurance-related transactions, ensuring data integrity.
• Documentation Review:
  Thoroughly review insurance policy agreements and related legal documents to identify and interpret all insurance requirements and ensure correct booking and process
• Pre-Funding Verification:
  Confirm that all insurance-related calculation are correct and make initial deposit to brokers
• Coordination and Communication:
  Act as the primary point of contact for all insurance-related inquiries from the Front Office, Middle Office team and brokers.
• Risk and Compliance:
  Monitor insurance-related covenants and reporting requirements to maintain a high level of operational risk control. Escalate any discrepancies or potential issues to management and the relevant departments.
• Process Improvement:
  Identify opportunities to streamline and improve the insurance handling process, from booking to reconciliation and reporting.

• Previous experience (min 1-2 years) with commercial lending and asset financing support management at a commercial bank is essential
• Previous experience with handling insurances under the deals is a must
• Undergraduate degree in Finance or related business field.
• Working knowledge of the systems utilized by the bank is a plus:
  Cash Plus, Loan IQ, FBTI
• Intermediate user of the following MS Office applications:
  Excel, PowerPoint.
• Good understanding of financial statements with a level of comfort in calculating and interpreting financial ratios.