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Collateral Protection Insurance Jobs in Chicago, IL

Archgroup

AVP, Construction

Chicago, IL · On-site +1

$150K - $190K/yr

Assesses insurance and related financial risk and structures appropriate loss sensitive program to ... protect against frequency, severity, catastrophic and credit risk * Underwrites prices and prepares ...

Archgroup

AVP, Construction

Chicago, IL · On-site +1

$150K - $190K/yr

Assesses insurance and related financial risk and structures appropriate loss sensitive program to ... protect against frequency, severity, catastrophic and credit risk * Underwrites prices and prepares ...

Axos Bank

VP, Commercial Underwriter

Lombard, IL · On-site

$120K - $170K/yr

Ensure collateral perfection under UCC Article 9, including UCC filing and search requirements ... Medical, Dental, Vision, and Life Insurance * Paid Sick Leave, 3 weeks' Vacation, and Holidays ...

Axos Bank

VP, Commercial Underwriter

Lombard, IL

$120K - $170K/yr

Ensure collateral perfection under UCC Article 9, including UCC filing and search requirements ... Medical, Dental, Vision, and Life Insurance * Paid Sick Leave, 3 weeks' Vacation, and Holidays ...

Wells Fargo

Lead ABL Underwriter

Chicago, IL · Hybrid

$3/hr

Analyze collateral, historical and projected financial statements, cash flows, liquidity, relevant ... Life insurance, critical illness insurance, and accident insurance * Parental leave * Critical ...

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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 Jul 15, 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.

How does collateral protection insurance work?

Collateral Protection Insurance (CPI) is used by insurance professionals to protect lenders' interests when borrowers default on auto or property loans. It provides coverage for the vehicle or asset in case of damage or theft, ensuring the lender's financial interest is maintained until the loan is paid off. Insurance agents often verify coverage and process claims to mitigate risk for lenders and borrowers alike.

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 (CPI)?

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 (CPI) 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, and why are they important?

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 jobs pay 4000 a week without a degree?

Jobs related to collateral protection insurance, such as insurance claims adjusters or specialized underwriters, can sometimes pay around $4,000 weekly, especially with experience or in high-demand markets. These roles often require industry-specific knowledge, strong analytical skills, and sometimes licensing or certifications but do not always require a college degree.

What is the highest paying insurance agent job?

The highest paying insurance agent roles are typically in specialized areas such as high-net-worth individual insurance, commercial insurance, or executive-level positions, often earning six-figure incomes. Top agents with extensive experience, strong client networks, and advanced certifications can also earn significant commissions and bonuses, increasing their overall compensation.

What is the best paying job in insurance?

In insurance, executive roles such as Chief Underwriting Officer or Chief Risk Officer tend to be the highest paying positions, often earning six-figure salaries plus bonuses. Senior underwriters and actuarial directors also earn high salaries, especially with advanced certifications and extensive experience.
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
Consumer Loan Processor

Consumer Loan Processor

Regional Federal Credit Union

Crown Point, IN • On-site

$19/hr

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 24 days ago

Job description

REGIONAL federal credit union a growing and leading provider of banking products and services in Northwest Indiana is seeking an experienced Consumer Loan Processor to join our growing team to be housed at either location of Hammond, Valparaiso, or Winfield offices. Qualified applicants must be dynamic, innovative, member-focused, and enjoy working in a goal-oriented, team environment. If you love helping people and want to experience the REGIONAL difference, we would love to meet with you.
Duties and Responsibilities:

Loan Processing, Verification & Pipeline Management:
  • Documentation Prep: Prepare, assemble, and verify the accuracy of loan files for consumer, home equity, and business closings (ensuring accurate terms, property vesting, legal descriptions, and signatures).
  • Product Verification: Verify and finalize applications and documents for GAP, Extended Warranty, and/or debt protection.
  • Loan Verification & Conditioning: Authenticate applicant income, employment, and assets to ensure file completeness proactively gather and review any outstanding stipulations or conditions requested by the underwriter to clear the loan for closing.
  • Pipeline Management: Proactively manage an active Consumer & Business loan pipeline, ensuring all files progress efficiently through setup, verification, approval, and closing to meet credit union Service Level Agreements (SLAs).
  • Loan Funding: Coordinate and oversee the secure disbursement of loan proceeds via checks, ACH transfers, or wires once all closing conditions are met. 


Title & Collateral Management:
  • Title Processing: Process, file, and perfect liens on vehicle titles with the DMV and appropriate state agencies to secure the credit union's collateral.
  • Collateral & Payoffs: Complete loan collateral releases, including vehicle title releases, mortgage satisfactions, loan payoff requests, and UCC releases. 

Member Service & Support:
  • Application Assistance: Guide members and teammates through the loan application process (in-person, over the phone, or electronically) to gather required financial data and utilize e-signature platforms.
  • Relationship Building: Cross-sell lending and other credit union products to deepen member relationships and meet individual/team goals.
  • Inbound Communication: Service incoming calls, provide real-time loan status updates, route inquiries to the correct team members, and professionally resolve member issues or complaints.

Administrative, QA & Compliance Excellence:
  • Post-Closing Duties: Perform post-closing quality assurance checks to ensure all final executed documents and trailing collateral titles are accurately imaged, archived, and audit ready
  • System Maintenance: Update loan data and collateral tracking mechanisms in credit union and third-party loan origination systems (LOS).
  • Back-Office Support: Assist with filing, processing letters, insurance claims, paid loan reports, audit preparation, and month-end tasks.
  • Compliance: Maintain a comprehensive knowledge of credit union products while ensuring all lending procedures strictly align with internal policies, state DMV guidelines, and federal regulations (including but not limited to Truth-in-Lending, USA PATRIOT Act and Red Flags Rule).
  • Operational Flexibility: Perform other duties and special projects as assigned by Management to support the evolving needs of the department and credit union.

Position Requirements:

Education & Experience:
  • Required: High school diploma or equivalent.
  • Experience: Experience in consumer, home equity, or commercial loan processing, or equivalent lending support experience highly preferred.

Preferred Qualifications:
  • Language: Bilingual in English and Spanish is a strong plus.

Key Competencies:
  • Strong attention to detail, especially regarding legal, financial, and state documentation (titles, liens, deeds).
  • Excellent time management and the ability to multitask in a fast-paced, volume-driven environment.
  • Superb verbal and written communication skills.
  • Ability to handle confidential financial information with strict integrity.

REGIONAL provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability, or genetics.
Physical requirements are sitting and standing for a length of time. The team member is regularly required to walk, sit, reach with hands and arms, kneel, talk, and hear/listen. The team member must occasionally lift and/or move up to fifty pounds. This position requires viewing of a computer monitor for extended lengths of time.
Starting Salary: $19.00 per hour
Competitive benefits package offered: (ex. Medical, Dental, Vision, PTO, Quarterly Incentive maximum $800, Holiday Pay, 401K, etc.)
Please email your resume to pmakarounas@regionalfcu.org.