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Collateral Protection Insurance Jobs in New Jersey

Wintrust

Loan Analyst II

Newark, NJ · Hybrid

$39K - $52K/yr

As the largest life insurance premium finance company in the country, Wintrust Life Finance ... Protect the Bank's assets and maintain quality of the portfolio by adhering to lending policies and ...

Wintrust

Loan Analyst II

Newark, NJ · On-site

$30.25 - $39.50/hr

As the largest life insurance premium finance company in the country, Wintrust Life Finance ... Protect the Bank's assets and maintain quality of the portfolio by adhering to lending policies and ...

American Global

Account Manager - Whippany, NJ

Whippany, NJ · On-site

$80K - $100K/yr

Insurance training * Kick of meetings * Stewardship meetings * Renewal strategy meetings * Analyze ... Conduct in-depth data analyses (Exposures, losses, premiums, rates, collateral, mod, deductible ...

American Global

Account Manager - Whippany, NJ

Whippany, NJ · On-site +1

$80K - $100K/yr

Insurance training * Kick of meetings * Stewardship meetings * Renewal strategy meetings * Analyze ... Conduct in-depth data analyses (Exposures, losses, premiums, rates, collateral, mod, deductible ...

Cintas

Business Development Representative

Rockaway, NJ · On-site

$60K - $150K/yr

Makes effective use of sales tools, collateral material, and product samples. Develops an annual ... AD&D Insurance, 100% Company Paid Paid Time Off and Holidays Skills Development, Training and ...

Cintas

Business Development Representative

Rockaway, NJ · On-site

$60K - $150K/yr

... collateral material, and product samples. Develops an annual sales & marketing strategy to ... and AD&D Insurance, 100% Company Paid • Paid Time Off and Holidays • Skills Development ...

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All JobsCollateral Protection Insurance JobsCollateral Protection Insurance Jobs in New Jersey

Collateral Protection Insurance information

What is collateral protection insurance?

Collateral Protection Insurance (CPI) is a type of insurance policy that lenders purchase to protect themselves against loss or damage to property used as collateral for a loan, such as vehicles or real estate, when the borrower fails to maintain adequate insurance. If a borrower’s insurance lapses or is insufficient, the lender may buy CPI and charge the premium to the borrower. This coverage ensures the lender’s financial interest is safeguarded, but it may not provide the same coverage or benefits as standard borrower-acquired insurance.

What are the key skills and qualifications needed to thrive as a collateral protection insurance specialist?

To thrive as a Collateral Protection Insurance Specialist, you need a solid understanding of insurance principles, financial regulations, and risk assessment, often supported by a degree in finance, business, or a related field. Familiarity with insurance management software, loan servicing platforms, and relevant certifications such as an insurance license are typically required. Outstanding attention to detail, analytical thinking, and strong communication skills help professionals excel when analyzing policies and interacting with clients or stakeholders. These skills ensure accurate policy administration, regulatory compliance, and effective risk mitigation for lenders and their clients.

What are some common challenges faced by professionals working in collateral protection insurance and how can they be addressed?

Professionals in Collateral Protection Insurance often encounter challenges such as managing high volumes of policy tracking, dealing with incomplete borrower information, and ensuring regulatory compliance. Overcoming these obstacles requires strong organizational skills, proficiency with specialized CPI software, and effective communication with lenders and borrowers. Staying updated on industry regulations and participating in ongoing training can also help professionals navigate these complexities and deliver excellent service.

What is the difference between Collateral Protection Insurance vs Insurance Adjuster?

AspectCollateral Protection InsuranceInsurance Adjuster
CredentialsTypically requires licensing or certification in insuranceRequires state licensing and adjuster certification
Work EnvironmentOffice, field inspections, claims processingField inspections, claims assessment, office work
Employer & IndustryInsurance companies, lenders, auto dealershipsInsurance companies, independent agencies
Search & Comparison IntentUnderstanding coverage for financed assetsEvaluating claim adjustments and settlement processes

Collateral Protection Insurance focuses on insuring financed assets like vehicles, often used by lenders. Insurance Adjusters assess claims and determine payouts. While both roles involve insurance, they serve different functions within the industry.

What are popular job titles related to Collateral Protection Insurance jobs in New Jersey?

For Collateral Protection Insurance jobs in New Jersey, the most frequently searched job titles are:

What job categories do people searching Collateral Protection Insurance jobs in New Jersey look for?

The top searched job categories for Collateral Protection Insurance jobs in New Jersey are:

What cities in New Jersey are hiring for Collateral Protection Insurance jobs?

Cities in New Jersey with the most Collateral Protection Insurance job openings:

Collateral Protection Insurance jobs near you

Loan Analyst II

Wintrust

Newark, NJ • Hybrid

$39K - $52K/yr

Full-time

Medical, Dental, Vision, Life, Retirement

Posted 26 days ago

Wintrust rating

8.0

Company rating: 8.0 out of 10

Based on 20 frontline employees who took The Breakroom Quiz

71st of 171 rated banks

Job description

As the largest life insurance premium finance company in the country, Wintrust Life Finance provides customized financing solutions to qualified borrowers seeking to finance their life insurance premiums. Our financing solutions have supported numerous planning structures, including traditional wealth transfer, key-man insurance, buy-sell arrangements, split dollar arrangements, term alternatives, charitable giving, income replacement strategies, and more. Wintrust Life Finance is a subsidiary of Wintrust, a financial services company with more than $66 billion in assets.

The Loan Analyst will perform all origination aspects of the loan process for their assigned relationship-based book of business. The candidate must have the ability to build solid relationships, both internal and external, and create successful partnerships. Must excel in a high-pressure environment and demonstrate time management and the ability to meet deadlines.

What you will be doing:

  • Maintain a "customer is first" environment to meet or exceed expectations and needs
  • Protect the Bank's assets and maintain quality of the portfolio by adhering to lending policies and procedures
  • Ensure that credit decisions and recommendations are made in accordance with credit principals and in compliance with policies
  • Oversee documentations and ongoing monitoring of assets and client portfolio
  • Preparing and issuing loan packages and credit correspondence
  • Follow-up with brokers/clients to ensure that requirements needed for originations and reviews are collected and delivered on a timely basis
  • Increase existing client business by identifying cross-selling opportunities in lending and deposits
  • Coordinate with Credit Officers, Portfolio Management and Legal Counsel to approve premium finance loans
  • Oversee all phases of loan processing, including exposure model generation, legal document preparation, funding, collateral management and default/liquidation
  • Compile in depth credit recommendation summaries through the analysis of tax returns, financial statements, brokerage accounts, and credit reports
  • Performs other duties and responsibilities as assigned by management

Qualifications:

  • 1 - 3 years of financial services or insurance industry experience, preferred
  • Bachelor's degree (Finance, Insurance, Business preferred)
  • Knowledge of standard business practices and working in team environment
  • Detail oriented with strong analytical skills
  • Strong communication skills and work ethic
  • Ability to work independently and prioritize in a fast-paced environment
  • Self-starter with the ability to work with minimal supervision

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 estimatedhourly ratefor this role is $30.25 - $39.50 along with eligibility to earn a quarterly incentive bonus. Actualpayrate 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.

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