New Millenium Consulting ยท 2 days ago
Middle Office Analyst (Insurance Operations)
New York, NY
Contract
Hybrid
Entry, Mid Level
1+ years expNew Millenium Consulting is a global bank seeking a Middle Office Analyst for Insurance Operations. The role involves managing credit insurance for transactions, ensuring accurate premium handling, and collaborating with various teams to maintain operational risk control and improve processes.
Information TechnologyMobile AppsTelecommunicationsWeb Development
Responsibilities
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
Qualification
Required
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
Good understanding of financial statements with a level of comfort in calculating and interpreting financial ratios
Preferred
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
Company
New Millenium Consulting
New Millenium Consulting offers managed staffing, technology infrastructure, application development, and telecommunication services.
11-50 employees
Funding
Current Stage
Early StageCompany data provided by crunchbase