New Millenium Consulting · 3 days ago
Loan Operations Associate – Credit Insurance
New York, NY
Contract
Hybrid
Entry Level
1+ years expNew Millenium Consulting is a global bank seeking a Middle Office Analyst for Insurance Operations. This role is responsible for the end-to-end management of credit insurance, partnering with various teams to ensure accurate handling of insurance premiums and transactions.
Information TechnologyMobile AppsTelecommunicationsWeb Development
Responsibilities
Serve as the subject matter expert for all credit insurance activities, from pre-closing review(if applicable), payment to set up in LIQ
Accurately calculate insurance premiums based on credit agreements and insurance certificates, and process timely payments to brokers
Utilize Loan IQ (LIQ) to properly book, monitor, and reconcile all insurance-related transactions, ensuring data integrity
Thoroughly review insurance policy agreements and related legal documents to identify and interpret all insurance requirements and ensure correct booking and process
Confirm that all insurance-related calculation are correct and make initial deposit to brokers
Act as the primary point of contact for all insurance-related inquiries from the Front Office, Middle Office team and brokers
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
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
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
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