Associate, Loan Insurance

Oriental; Bayamón (PR); On-site; USD 42,000 - 65,000; Full time

Job summary

Oriental in Bayamón, Puerto Rico seeks an Associate, Loan Insurance to support administration of insurance processes for Auto and Consumer Lending products. You will ensure accurate processing of policies, claims, and payments, and maintain records with internal teams and providers.

The role involves claims processing, policy administration, reconciliations, and cooperation on audits. Workday experience and strong Excel skills are desirable in a fast-paced environment.

Qualifications

• Associate degree in business/finance or related field is required.
• 2+ years in banking, insurance operations, accounting support, loan servicing, or related functions.
• Proficiency in Microsoft Office (Excel, Word, Outlook).

Responsibilities

• Review and validate insurance coverages for new auto and consumer loans.
• Handle insurance claims and related vehicle repossessions per carrier rules.
• Maintain policy records and assist with reconciliations and remittances.
• Prepare accounting entries in Workday and support audits.
• Communicate with insurance providers and internal teams to ensure accuracy.

Skills

Excel expertise

Data analysis

Attention to detail

Communication skills

Time management

Education

Associate degree

Tools

Excel

Word

Outlook

Workday

Job description

The Associate, Loan Insurance is responsible for supporting the administration of insurance-related processes for Auto and Consumer Lending products, including auto insurance and voluntary insurance coverages such as life, unemployment, disability, and similar products. The role ensures insurance policies, claims, payments, accounting entries, and related transactions are processed accurately, timely, and in compliance with established procedures.

This position maintains policy records, supports claim processing activities, manages insurance-related accounting and reconciliation tasks, and serves as a liaison between internal business units and insurance providers to ensure operational effectiveness and customer service standards. The position works on-site and reports to the Oriental Minillas Building in Bayamón, Puerto Rico.

MAIN DUTIES & RESPONSIBILITIES

• Review and validate insurance coverages associated with new Auto and Consumer loans to ensure accuracy and compliance with established requirements.
• Receive, review, prepare, and submit insurance claims, including repossessions with and without damages, in accordance with insurance carrier requirements.
• Manage requests and communications with insurance companies related to policy administration, claims, and coverage inquiries.
• Administer transferred insurance policies and loans in accordance with the terms, conditions, and requirements established by each insurance carrier.
• Prepare customer notifications related to insurance coverage changes, cancellations, credits, and policy adjustments affecting loan accounts.
• Manage and process checks received from insurance companies related to policy cancellations, premium refunds, or coverage terminations.
• Prepare and process accounting entries within Workday and maintain supporting documentation as required.
• Prepare, distribute, and track outgoing checks and related payment documentation.
• Perform document indexing, annotations, record maintenance, and filing activities to ensure accurate recordkeeping and audit readiness.
• Perform monthly remittance reconciliations related to credit cards, checking accounts, insurance payments, and related transactions.
• Support audits, reporting activities, operational reviews, and special projects as assigned while ensuring compliance with established policies and procedures.
• Other duties may be assigned.

MINIMUM REQUIREMENTS

• Associate degree in Business Administration, Accounting, Finance, or a related field required.
• Two (2+) years of experience in banking, insurance operations, accounting support, loan servicing, or related business functions required.
• Minimum education and experience requirements may be substituted with an equivalent combination of education, training, and relevant experience.
• Experience processing insurance policies, claims, payments, reconciliations, accounting transactions, or related operational activities preferred.
• Proficiency in Microsoft Office applications, including Excel, Word, Outlook, and required.
• Strong Excel skills, including data analysis, reconciliation, reporting, and record management preferred.
• Strong analytical and problem-solving skills with the ability to identify discrepancies and support accurate resolutions.
• Highly organized, structured, and detail-oriented, with the ability to manage multiple priorities while maintaining accuracy and quality standards.
• Demonstrated agility and adaptability in managing changing priorities, processes, and operational requirements within a fast-paced environment.
• Strong written and verbal communication skills with the ability to interact effectively with internal business partners, customers, and external vendors.
• Basic to intermediate written and verbal communication skills in English preferred.

WORK AUTHORIZATION & ELEGIBILITY

• Legally authorized to work in the US is required. This position is of indefinite duration and requires candidates to have permanent or ongoing work authorization.
• Employee is responsible for maintaining eligible work authorization throughout his tenure with the organization.

Oriental is an Equal Opportunity Employer (EEO/Affirmative Action for Veterans/Workers with Disabilities)

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