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Collateral Protection Insurance Jobs in Chicago, IL

Old National Bank

ABL Collateral Analyst II

Chicago, IL · On-site

$62K - $122K/yr

... insurance. 401K, continuing education opportunities and an employee assistance program are also ... protected by law. We do not accept resumes from external staffing agencies or independent ...

Old National Bank

ABL Collateral Analyst II

Chicago, IL · On-site

$62K - $122K/yr

... insurance. 401K, continuing education opportunities and an employee assistance program are also ... protected by law. We do not accept resumes from external staffing agencies or independent ...

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All JobsCollateral Protection Insurance JobsCollateral Protection Insurance Jobs in Chicago, IL

Collateral Protection Insurance information

See Chicago, IL salary details

$11.3K

$70.8K

$93.2K

How much do collateral protection insurance jobs pay per year?

As of Aug 7, 2026, the average yearly pay for collateral protection insurance in Chicago, IL is $70,822.00, according to ZipRecruiter salary data. Most workers in this role earn between $56,700.00 and $80,400.00 per year, depending on experience, location, and employer.

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 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 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 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 popular job titles related to Collateral Protection Insurance jobs in Chicago, IL? For Collateral Protection Insurance jobs in Chicago, IL, the most frequently searched job titles are:
What job categories do people searching Collateral Protection Insurance jobs in Chicago, IL look for? The top searched job categories for Collateral Protection Insurance jobs in Chicago, IL are:
What cities near Chicago, IL are hiring for Collateral Protection Insurance jobs? Cities near Chicago, IL with the most Collateral Protection Insurance job openings:
Collateral Protection Insurance jobs near you
Infographic showing various Collateral Protection Insurance job openings in Chicago, IL as of June 2026, with employment types broken down into 2% As Needed, 34% Full Time, 51% Part Time, and 13% Contract. Highlights an 91% Physical, 1% Hybrid, and 8% Remote job distribution, with an average salary of $70,822 per year, or $34 per hour.

Collateral Specialist - Lien Perfection

Wintrust

Rosemont, IL • On-site

$42K - $60K/yr

Full-time

Medical, Dental, Vision, Life, Retirement

Re-posted 10 days ago

Wintrust rating

8.0

Company rating: 8.0 out of 10

Based on 20 frontline employees who took The Breakroom Quiz

73rd of 170 rated banks

Job description

Wintrust provides community and commercial banking, specialty finance and wealth management services through its 16 bank charters and nine non-bank businesses. Wintrust delivers the sophisticated solutions of a large bank while staying true to the relationship-focused, personalized service of our community banking roots. We serve clients in all 50 states with more than 200 branch banking locations in Illinois, southwestern Florida, northwestern Indiana, west Michigan and southern Wisconsin and commercial banking offices in Chicago, Denver, Milwaukee, Grand Rapids, Mich., and in key branch banking locations throughout Illinois. Our people are the heart of our business and we are proud to rank consistently as a top place to work. Wintrust is a $66 billion financial institution based in Rosemont, Illinois, and listed on the NASDAQ Global Select Market under the symbol "WTFC."
Why join us?
  • An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 10 years) and Employee Recommended award by the Globe & Mail (past 6 years)
  • Competitive pay and discretionary or incentive bonus eligible
  • Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company match and tuition reimbursement to name a few.
  • Family-friendly work hours
  • With 175+ community bank locations, we offer opportunities to grow and develop in your career.
  • Promote from within culture.

Why join this team?
  • We have a culture that encourages an entrepreneurial spirit.
  • We offer multiple opportunities for development and upward mobility.

What You'll Do:
The Collateral Specialist - Lien Perfection is responsible for creating necessary exceptions for new loans and renewals to ensure tracking of required documentation for collateral folders for both consumer and commercial loan types. Perfecting various types of collateral to ensure the Bank's line is properly recorded or stated on all collateral. Reviewing documentation packages for completeness and clear any related exceptions. Complete all tasks within the assigned SLAs.
  • Create exceptions for new loans and renewals to track for original documentation.
  • Establish collateral lien perfection as needed (Mortgage Recording, UCC filing, Vehicle Title Liens, Deposit Holds, etc.).
  • Review original loan packages for completeness and clear related exception items.
  • Create collateral folders for new loans and file in the vault.
  • Ensure all trailing documents are filed in their respective collateral folders.
  • Research and review inquiries from the line of business regarding collateral.
  • Assist with research requests, audit reviews, and department projects as needed.

Qualifications:
  • High School diploma or equivalent.
  • Good understanding of both consumer and commercial loans.
  • Minimum 3 years of experience in an office or operations environment which services and supports banking line of business.
  • Highly organized and ability to complete a high volume of tasks within assigned service levels.
  • IBS system experience preferred.
  • Good written and oral communication skills and organizational skills.
  • Good understanding of various loan documents, banking processing standards, best practices, and audit control procedures.
  • Must have experience in back-office loan processing commercial, residential and small business loans

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 $42,000 - $60,000, 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.
#LI-Hybrid
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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