Associate, Insurance

General Accountability:

The Associate, Insurance is responsible for providing comprehensive administrative and operational support in the management of the Bank’s insurance portfolio and related collateral securities. The incumbent ensures that insurance requirements associated with credit facilities are appropriately maintained and assists with the preparation, processing, and distribution of insurance-related correspondence and documentation.

The role requires regular interaction with customers, insurance companies, Branches, and internal Units to facilitate insurance renewals, assignments, releases, claims, and other related matters. The Associate also supports the Supervisor and Manager with various portfolio activities while ensuring tasks are completed accurately, efficiently, and in accordance with established Bank procedures and service standards.
 

Key Responsibilities:

• Administer and maintain security files within the assigned portfolio, ensuring that all booked credit facilities have satisfied the required collateral security and insurance requirements.
• Prepare and distribute correspondence to customers regarding upcoming home and building insurance renewals, ensuring customers are appropriately notified and relevant documentation is maintained.
• Prepare correspondence advising customers when their home or building insurance premiums have been paid, ensuring records are accurately updated and maintained.
• Draft and process release letters for home, life, and automobile insurance policies, as well as salary deductions, and forward the required documentation to customers and the relevant Branches or Units.
• Prepare and issue correspondence to insurance companies regarding the assignment and release of home, life, and automobile insurance policies, ensuring requests are accurately documented and communicated.
• Manage and respond to life insurance inquiries, with particular attention to high-value accounts, ensuring matters are appropriately reviewed, followed up on, and communicated to the relevant parties.
• Process life insurance inquiries relating to deceased customers, liaising with the applicable insurance company and forwarding the relevant contracts and documentation to the appropriate Branch or Unit to facilitate claim processing.
• Prepare loan maintenance forms to facilitate amendments and updates to customer and facility information within the Bank’s core banking system, ensuring information submitted is complete and accurate.
• Assist with the semi-annual call-back process and other periodic reviews or administrative exercises undertaken by the Unit.
• Maintain effective working relationships with customers, insurance companies, Branches, and other internal Units to support the timely resolution of insurance and collateral-related matters.
• Provide ongoing administrative and operational support to the Supervisor, Manager, and wider Unit, assisting with additional duties and portfolio-related activities as required.

Minimum Qualifications & Experience:

• Associate degree or Institute of Financial Services Certificate preferred; relevant banking or legal experience may also be considered.
• High proficiency in Microsoft Office.
• Knowledge of banking policies and procedures is preferred but not essential.
• Ability to work accurately and efficiently while managing multiple activities in a fast-paced environment.
• Strong attention to detail and ability to work effectively with minimal supervision.
• Excellent written and verbal communication skills.
• Strong interpersonal and teamwork skills.