Collateral Protection Associate

Posted 3 Days Ago
Be an Early Applicant
Hiring Remotely in USA
Remote
Junior
Fintech • Payments • Financial Services
The Role
As a Collateral Protection Associate, you will manage collateral protection insurance processes, including verifying payments, calculating adjustments, and handling insurance claims. Additionally, you will communicate with members and insurance companies, assist with document requests, and ensure compliance with policies and regulations while seeking workflow improvements.
Summary Generated by Built In

Connexus Credit Union - Who We Are:

Serving members across all 50 states, Connexus Credit Union is a member-focused cooperative that is proud to return profits to member-owners through high yields for checking accounts and deposit products, as well as competitive rates on our loans. We are a remote first employer with the majority of our employees residing in the upper Midwest.

As an employer we foster collaboration and high performance to achieve excellence. We holistically care for and develop our employees to thrive personally and professionally. We are proud to share our success with our employees and those we serve.

Connexus offers an Amazing Benefits package:

  • 20 days of paid time off and 8 paid holidays

  • 16 hours of paid Volunteer Time Off

  • 401K Retirement with up to 6% employer match

  • Excellent Health, Dental, Vision insurance, including multiple plan options

  • Health Savings Account with generous employer contributions

  • Employer paid Life insurance, Short-Term and Long-Term Disability

  • Tuition Reimbursement from $4,000 - $7,000 per calendar year

  • Robust Learning and Development program that includes an annual professional development stipend

Responsibilities:

  • Complete CPI (collateral protection insurance) reports and tasks to effectively administer the process: verify payments recalculations after premiums post, calculate and make payment adjustments after premium refunds post, verify loan amortization schedules, ensure charge and refund accounts reports are accurate, assist with account balance issues, support CPI claims process, and coordinate with members, internal partners, vendors, and insurance companies to resolve issues.

  • Administer Refund Plus program to assist with ancillary product refunds on early payoffs and repossessions. 

  • Process all requests for Letters of Guarantee and insurance claims. Work as a liaison between insurance companies and members to resolve claims issues. Review claim damage checks submitted by members for Connexus signature to determine the best course of action for both the member and for Connexus.

  • Serve as subject matter expert and communicate professionally in oral and written correspondence from internal and external partners involved in CPI, insurance claims, and product refund concerns.

  • Review End of Cycle Bankruptcy Status Report working with our Legal team to ensure that all notices and premiums are being handled appropriately on bankrupt loans. 

  • Evaluate reports for real estate with insurance deficiencies, pull updated flood determinations, review Private Flood Insurance Report to verify flood insurance as acceptable, and contact members regarding real estate insurance when necessary.

  • Maintain CPI Penetration rate within industry standards by reviewing reports for false placements and active communication with members, insurance companies, vendors, and internal partners.

  • Constantly seeking workflow improvements and sources for automation so as to increase efficiencies.

  • Responsible for maintaining an up-to-date and comprehensive knowledge of and compliance with all related policies, procedures, products, rules and regulations affecting the Credit Union and Collections Department. This includes BSA.

Position Requirements:

  • This position is Remote.

  • Associate's Degree in accounting or business program or commensurate experience Required.

  • 1+ years of related experience Required.

  • Excellent verbal, written, listening, and interpersonal communication skills are Required.

  • Ability to multi-task and work in a fast paced, goal oriented environment.

  • Ability to organize workload to meet schedules.

  • Proficient computer skills with intermediate level skills in Excel and Word, and the ability to navigate among several system applications and software program.

  • Evidence of ability to be organized, analytical, and resilient.

Connexus Credit Union's Employer Recognitions:

  • 2024 Best in Class Employer, Gallagher

  • 2025 Best Place to Work in IT, Computer World

Equal Opportunity Employer/Disabled/Veterans/41 CFR 60–1.4, 41 CFR 60-1.35

Top Skills

Excel
Word
The Company
Cincinnati, OH
416 Employees
On-site Workplace
Year Founded: 1935

What We Do

Our Commitment to Employees:
We foster collaboration and high performance to achieve excellence. We holistically care for and develop our employees to personally and professionally thrive. We are proud to share our success with our employees and those we serve.

Serving more than 477,000 members nationwide, Wausau, WI-based Connexus Credit Union is a member-owned, not-for-profit financial cooperative with $5.0 billion in assets and more than 700 employees. We proudly give back to our members through high yields on deposit products, competitive loan rates, and minimal fees. We’ve been nationally recognized for excellence by Forbes Advisor, NerdWallet, Kiplinger, and Bankrate.

Our organizational values of Integrity, Respect, Synergy, Transparency, and Wellbeing influence all we do. Whether it’s an email from one employee to another, helping a member in a branch, or volunteering in one of the many communities we serve, we interact with dignity, kindness, and professionalism. We strive for transparent, honest dialogue and highly value the collective power of our team.

Our vision is to be a nationally relevant, trusted credit union, providing exceptional experiences and fostering prosperity for those we serve. We strive to earn and maintain our members’ trust and ensure they feel supported and appreciated at every touchpoint. We also support our communities through our philanthropic program, Connexus Cares. Founded in early 2019, Connexus Cares has donated over $12 million to charitable organizations nationwide.

At Connexus, we’re dedicated to sustainable growth while delivering exceptional experiences. We do this, in part, by fostering a culture that values employees as our most important asset.

We’re excited to remain at the forefront of the credit union movement as we continuously demonstrate our values, embrace our digital future, and strengthen our national relevance. Please explore all Connexus has to offer at ConnexusCU.org

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