Truist · 1 month ago
AFCO Portfolio Management Specialist
Lake Forest, IL
Full-time
Onsite
Entry, Mid Level
$46K/yr - $79K/yr
2+ years expTruist is a financial services company seeking an AFCO Portfolio Management Specialist. The role involves providing excellent customer service, managing a portfolio of loans, and facilitating the collection of return premiums and balances due from various parties involved in loan transactions.
BankingFinanceFinancial Services
Responsibilities
Research, analyze and evaluate reports and other information to manage assigned portfolio
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
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. Recommend sending loans to outside collection agency as appropriate/approved. Process monthly write-offs of loans to send to OSC
Within authority limitations, make decision to waive late fees based on account review and analysis
Recommend and communicate payment options, within authority limit, to reduce costs and maximize fee income
Post return premium checks to the applicable loans
Complete loan adjustment requests to correct payments posted to incorrect loans
Recognize the warning signs of agency fraud/non-compliance and ensure that management is notified of these instances for further investigation and/or action for possible filing of Unobserved Financial Observations (UFO). Assist in the completion of agent’s portfolio audit
Assess and post insured’s post maturity interest to insureds’ loans with credit balances
Be online and available in the company’s customer service ACD phone queue
Daily review of all return premiums posted to their portfolio
Handle returned mail of final demand letters to insureds and cancellation notices to insureds and intermediaries/carriers
Daily review/analysis of portfolio overpayments/odd payments
Contact insureds and/or agents for the prevention of loan cancellations
Qualification
Required
High School diploma or equivalent education and related training
Two years of premium finance experience, preferably in operations, collections or related discipline of in the property and casualty insurance industry
Ability to work independently
Excellent written and verbal communication skills
Excellent organization and analytical skills
Demonstrated proficiency in basic computer applications, such as Microsoft Office software products
Ability to travel, occasionally overnight
Preferred
Associate or bachelor's degree or completion of a technical school in a related subject
Benefits
Medical
Dental
Vision
Life insurance
Disability
Accidental death and dismemberment
Tax-preferred savings accounts
401k plan
10 days of vacation
10 sick days
Paid holidays
Defined benefit pension plan
Restricted stock units
Deferred compensation plan
Company
Truist
Truist is the sixth-largest commercial bank in the U.S.
10001+ employees
H1B Sponsorship
Truist has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (313)
2024 (247)
2023 (288)
2022 (275)
2021 (278)
2020 (270)
Funding
Current Stage
Late StageTotal Funding
unknown2021-01-01Seed
Leadership Team
Michael Maguire
Chief Financial Officer
James Cordovana
SVP of Cloud Security Enterprise Architect
Recent News
Maryland Daily Record
2026-01-03
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