Nesco Resource · 1 week ago
Middle Office Insurance Analyst
New York, NY
Full-time
Onsite
Senior Level
$60/hr - $70/hr
5+ years expNesco Resource is a company specializing in recruitment services, and they are seeking a Senior Middle Office Analyst for Insurance Operations. The role involves managing the credit insurance process, ensuring accuracy in premium calculations and payments, and coordinating with various stakeholders to mitigate operational risks.
ConsultingHuman ResourcesStaffing Agency
Responsibilities
Own the end-to-end credit insurance process, from pre-closing review (where applicable) through ongoing monitoring and reconciliation
Serve as the internal subject matter expert for all insurance-related matters
Accurately calculate insurance premiums based on credit agreements and insurance certificates
Ensure timely and accurate payment of premiums to insurance brokers, including initial deposits prior to funding
Book, monitor, and reconcile all insurance-related transactions in Loan IQ (LIQ)
Maintain high data integrity and ensure alignment between documentation, system records, and payments
Review insurance policies, credit agreements, and legal documentation to identify insurance requirements and ensure proper setup and processing
Interpret complex documentation and translate requirements into accurate operational execution
Perform pre-funding checks to confirm insurance calculations, coverage, and payments are correct
Monitor insurance covenants and reporting requirements throughout the life of the transaction
Act as the primary point of contact for insurance-related inquiries from Front Office, Middle Office, Operations, and external brokers
Escalate discrepancies, issues, or risks to management and relevant stakeholders in a timely manner
Maintain strong operational risk controls related to insurance handling
Identify opportunities to streamline workflows, improve controls, and enhance reporting and reconciliation processes
Qualification
Required
Minimum 5 years of experience supporting commercial lending or asset finance operations within a commercial bank
Hands-on experience managing insurance requirements tied to lending deals is required
Bachelor's degree in Finance, Business, or a related field
Strong proficiency in Excel and PowerPoint
Solid understanding of financial statements, with comfort calculating and interpreting financial ratios
Highly detail-oriented, proactive, and capable of managing complex, high-volume processes
Preferred
Working knowledge of banking systems such as Loan IQ, Cash Plus, and FBTI
Benefits
MEC (Minimum Essential Coverage) plan that encompasses Medical, Vision, Dental, 401K, and EAP (Employee Assistance Program) services.
Company
Nesco Resource
Nesco Resource s an Staffing and Recruiting firm.
501-1000 employees
Funding
Current Stage
Late StageLeadership Team
Michael McDonald
Executive Vice President of Finance and Chief Accounting Officer
Recent News
InvestmentNews
2023-12-24
Maysville Online
2023-12-24
Company data provided by crunchbase