VP Insurance Backed Line of Credit (IBLOC) Lender
A closer look at this position: Act as a technical product expert designing and bringing to market a new insurance backed line of credit (IBLOC) lending offering for the Bancorp’s Institutional Banking Business.
As a VP Insurance Backed Line of Credit (IBLOC) Lender, you will:
- Play a pivotal role in leading the design and bringing to market a new lending offering for the Bancorp’s Institutional Banking business.
- Work closely with senior management spanning credit, solutions, underwriting, legal, marketing and compliance to develop a successful go-to market strategy for the new lending product
- Bring a deep understanding of Life Insurance products across multiple insurers with the ability to carefully articulate the characteristics of varying policies to assist in credit decisions.
- Collaborate with the Bank’s collateral management team to develop controls and procedures for the monitoring of pledged policies and associated cash values.
- Assist the Institutional Banking underwriting staff with the preparation of credit memorandums that are inclusive of the requisite analysis of potential policies to be pledged as collateral
- Monitor industry news, changing regulations and compliance to maintain expertise in underwriting and closing credit facilities for the IB client base
- Review credit exposure to ensure adherence to the exposure limits set by the firm’s credit policy committee.
- Support the ongoing IB lending process automation initiatives of the division by actively leading the integration of IBLOC underwriting processes and documentation into the broader lending automation application (Talea).
- Perform periodic reviews of all loan documentation to ensure ongoing adherence to requisite banking regulations (Reg B, Z & state-specific insurance regulations).
- Liaise with the IB Sales Team to integrate the product offering into the Bancorp value proposition to build market share within IB’s network of 30,000+ advisors
- Perform other related duties as assigned.
You’ve got what it takes:
- Excellent verbal, written, and interpersonal communication skills
- A team player able to work effectively in a team fostered, multi-tasking environment
- Strong analytical skills
- Good networking and presentation skills.
- Position is required to travel up to 10% as needed
Your credentials include:
- An undergraduate degree in a related field is required. Advanced degree or equivalent designation preferred (i.e. Chartered Life Underwriter)
- A minimum of 7 years related industry experience in an operational or product management role with a major insurance company
- Experience analyzing and interpreting a variety of Life Insurance Products including Whole Life, IUL and Variable policies
- Direct experience with financial advisors or knowledge of the independent financial advisory industry
- Experience in underwriting loans using insurance as the sole source of collateral is a plus
Chart your career path at The Bancorp:
- Be part of an exceptional team focused on excellence, collaboration and high achievement.
- Follow your ambitions through professional development opportunities and performance management.
- Choose from a comprehensive benefits package.
- Thrive with a company that supports work-life balance and personal fulfillment.
- Maintain personal well-being through our wellness program.
- Join us in living a culture of compliance to ensure that every corner of our organization understands and fulfills its legal and regulatory obligations.
- Contribute to a diverse and inclusive workplace with your unique talents and perspective.
Employment with The Bancorp includes successfully passing a background check including credit, criminal, OFAC, education and past employment.
The Bancorp is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, status as a protected veteran, among other things, or status as a qualified individual with disability.
The Bancorp is an Equal Opportunity Employer