Manager - Insurance Premium Finance

Commerce Bank   •  

Kansas City, MO

Industry: Accounting, Finance & Insurance

  •  

5 - 7 years

Posted 41 days ago

Job Expectations:

Manager - Insurance Premium Finance - St. Louis or Kansas City (Full-time)

How would you like to work for a great company that offers career growth and values your skills and experience? For over 150 years, Commerce Bank has built a strong reputation as a “Super Community” bank and is recognized as an industry leader. In today's growing and competitive financial services industry, we look for creative and innovative solutions to meet the needs of our customers. To achieve our results, we recruit the best and brightest employees who ask, listen and solve to meet our customers’ needs!

Commerce Trust Company, a division of Commerce Bank, is seeking an individual to manage their Private Banking Insurance Premium Finance line of business. This individual will be responsible for processing, analyzing and administering all requisite documents/loan applications for the purposes of borrowing money to fund large annual life insurance premiums. This individual will manage and submit new business, renewals and transfers of loans while strengthening relationships with institutions, affiliates, and clients.
•Act as a product specialist training our private and commercial bankers on the intricacies of Insurance Premium Finance and how it can be used as a tool for both estate and succession planning.
•While responsible for developing their own unique book of business, the incumbent will travel to the various private banking and commercial offices throughout the company working with our private banking and commercial banking staffs helping train, solicit, structure and close transactions.
•Manage the insurance premium finance portfolio originated and outstanding throughout the company and develop the necessary reporting to both properly analyze the risk characteristics of the portfolio and developing reporting to ensure the Bank is properly secured and in compliance with all credit policy requirements.
Learn the Commerce Trust Company business, including but not limited to individual wealth financial planning, estate and tax planning, life insurance, risk management, asset management, lending and depository services and more.
•Collecting and organizing loan supporting documentation for new business and renewal process. This involves communicating with internal teams, clients, affiliates and lenders
•Guide the Client through the loan underwriting process in a timely and professional manner
•Produce loan package for lender: letter of explanation, confidential information and data analytics
•Review and analyze loan documentation to ensure accuracy and prevent issues from arising. Communicate with internal teams the necessary information for implementation.
•Stay in constant communication with Director of Private Banking, Commerce Bank’s senior credit officers, internal teams, affiliates and relevant third parties
•Maintain meticulous files, timelines and protocol
•All duties not listed in this description

Qualifications
Bachelor's degree required, preferred fields in the areas of Business or Finance
•5+ years of heavy project management experience within a team setting, managing multiple projects at once with various timelines
•Experience soliciting, structuring, originating and managing a mature and competitive life insurance premium portfolio
•Intimate understanding of the documentation, compliance and any and all legal considerations associated with premium finance.
•Proven success with adhering to and improving upon process timelines
•Knowledge of loan processes, insurance, premium finance, investment management and financial instruments + planning
•5+ years of daily interaction with high net worth or high-level individuals
•Experience working in a fast-paced environment that is extremely stressful at times
•Experience dealing with confidential information

Position can be located in the St. Louis or Kansas City market.

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