Description
As one of the largest premium finance companies in the country, FIRST Insurance Funding provides full premium finance services, plus additional services built specifically for agencies. We pride ourselves on the variety of incentive programs, services, and technology we offer. This not only helps grow the agents, brokers, and companies we partner with, but also helps them better serve their clients. FIRST Insurance Funding is a subsidiary of Wintrust, a financial services company with more than $66 billion in assets.
The Senior Collections Specialist is responsible for providing excellent customer service while working closely with insured/borrowers, insurance agencies, insurance carriers, and sales representatives to manage and service personal, commercial, & Specialty program business and niche premium finance loans. Will investigate complex delinquency issues and initiate appropriate actions to maximize collateral and minimize losses within Specialty Portfolios. Will also assist in Specialty projects, reporting and training and development for the dept.
What You'll Do
- Processes all incoming service requests for Specialty Portfolio, including researching and investigating discrepancies, documents all communication with internal and external parties, and processes loan updates and adjustment in the loan management system
- Manage Specialty portfolios by preparing, analyzing and/or monitoring daily reports and prioritizing daily tasks to manage portfolio performance. Develop and maintain effective relationships with agents and other external/internal parties.
- Minimize loan aging and exposure/shortages by contacting insurance carriers and general agents to confirm cancellation and obtain return premium amounts. Verifies unearned premium credit (i.e. collateral), investigate discrepancies, and follows up for receipt of funds. Timely communicate delinquent payment information to customers via phone and email in an attempt to prevent loan / policy cancellations and aging
- Assist Management with handling of complicated matters for the Specialty Team. A main point of contact for escalated issues and problematic situations. Be a SME in all areas of Specialty Business and Specialty Program Management and assist with oversight of Specialty Policies, Procedures and Processes.
- Handle miscellaneous projects, tasks and reporting as required within the team and the dept. Partner with management to oversee any team/dept based projects, ensuring timely completion and alignment with team objectives. Assist in dept training sessions, training guides and process maps and development of staff across the dept.
Qualifications
- 5-7 years experience
- Prior premium finance or related field (preferred)
- General Computer Skills
Benefits
Medical Insurance • Dental • Vision • Life insurance • Accidental death and dismemberment • Short-term and long term Disability Insurance • Parental Leave • Employee Assistance Program (EAP) • Traditional and Roth 401(k) with company match • Flexible Spending Account (FSA) • Employee Stock Purchase Plan at 5% discount • Critical Illness Insurance • Accident Insurance • Transportation and Commuting Benefits • Banking Benefits • Pet Insurance
Compensation
The estimated salary range for this role is $50,000 - $65,000 along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate's qualifications, skills and experience.
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From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To build a company that reflects the communities we serve, we believe that fostering a unique and inclusive workplace where everyone feels valued and empowered to succeed will support our ongoing success. Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.
