Associate, Loan Insurance

Oriental Bank; Bayamón (PR); On-site; USD 42,000 - 56,000; Full time

Job summary

Oriental Bank in Bayamón, Puerto Rico, is seeking an Associate, Loan Insurance to support insurance-related processes for Auto and Consumer Lending products on-site. You will help ensure policies, claims, payments, and related transactions are processed accurately and timely.

You will review coverages during loan onboarding, manage communications with insurers, and support claims, reimbursements, and policy adjustments in Workday.

Qualifications

• Associate degree required in business, accounting, or related field.
• 2+ years in banking, insurance operations, accounting support, or loan servicing.
• Experience processing insurance policies, claims, or related payments preferred.
• Proficiency with Excel for data analysis and reconciliation.
• Strong written and verbal communication in English.

Responsibilities

• Review and validate insurance coverages on new Auto and Consumer loans.
• Receive, review, prepare, and submit insurance claims per carrier requirements.
• Manage communications with insurance companies on policy and claims.
• Administer transferred policies and loans per carrier terms.
• Prepare customer notifications about coverage changes, cancellations, or adjustments.
• Perform monthly remittance reconciliations related to insurance payments.
• Prepare accounting entries in Workday and maintain supporting documentation.
• Support audits, reporting, and special projects while ensuring compliance.

Skills

Excel

Data analysis

Attention to detail

Communication skills

English proficiency

Education

Associate degree in Business Administration, Accounting, Finance, or a related field

Tools

Workday

Microsoft Office

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) Recruitment Privacy Statement Compliance Posters

This may be the opportunity to change your life and take your career to the next level. Oriental is a great place to work, grow and develop. Each employee is key in the company's success. Our team consists of an excellent group of people and we believe you could be one of them. We offer you the opportunity to work and be part of an organization that is dedicated to progress. We offer diverse employment opportunities that go from internships to executive positions. We recognize that our employees are the most important asset of our company, which is why we foster an environment of collaboration, based on trust and mutual respect.

Our selection process promotes equal employment opportunity and does not discriminate on grounds of sex, color, age, social status, religious beliefs, veteran status or disability.

Esta puede ser la oportunidad que cambie tu vida y lleve tu carrera profesional a otro nivel. Oriental es un gran lugar para trabajar, crecer y desarrollarse. Cada empleado es nuestro factor clave en el éxito de la compañía. La mejor gente del mundo trabaja aquí y creemos que podrías ser uno de ellos. Oriental te ofrece la oportunidad de trabajar y ser parte de una organización que se dedica al progreso. En Oriental ofrecemos diversas oportunidades de empleo, que van desde internados hasta puestos directivos. Reconocemos que nuestros empleados son el activo más importante de nuestra compañía, es por esto que fomentamos un ambiente de colaboración, basado en la confianza, el respeto mutuo, al valorar las diferencias de cada empleado. Nuestro proceso de selección es uno que promueve la igualdad de oportunidades en el empleo y no discrimina por razón de sexo, color, edad, condición social, creencias religiosas, condición de veterano o incapacidad.

A continuación material de referencia incluyendo nuestra política de privacidad y leyes laborales aplicables: Afiches de Cumplimiento/ Leyes Laborales Política de Privacidad de Reclutamiento