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Premium Finance Manager

From its humble beginnings since its founding in 2001, Westfield Bank has become one of the leading financial institutions in Northeast Ohio. With a Five-Star Superior rating from BauerFinancial, the bank provides comprehensive personal, business, and agency banking products and services.
Supported by Westfield Insurance, one of the nation's 50 largest property and casualty insurance groups, Westfield Bank has grown to manage more than $1 billion in assets. The group's motto is "Sharing Knowledge. Building Trust." - a message and commitment lived out each day by employees across the country.
The center of the bank's business model revolves not around profits or numbers, but through personal relationships and close contact with its customers. All Westfield companies stress the importance of hiring quality employees, as well as developing them and empowering each employee to be the best they can be, both in their work and in their life. As an employee of Westfield Bank, you will have the opportunity to not only create peace of mind for our customers, but to grow your career in one of the best workplaces in Northeast Ohio.
The Premium Finance Manager is responsible for maintaining and growing the Premium Finance loan portfolio. Develops and maintains relationships with insurance agents to drive loan production. Works in cooperation with the Agency Banking Leader in reporting and analysis of the Premium Finance credit function.
Responsible for monitoring Federal and competitor rates, analyzing the impact of rate changes, and adjusting Bank's premium finance rates. This includes policy recommendations and monitoring delinquencies in the Premium Finance portfolio and the collection of past due payments and fees, including managing charge-offs to an acceptable level in accordance with annual tactical plans. Manages a staff of Premium Finance Specialists in the operation and sales of premium finance products.
Essential Functions (primary functions and/or reasons the job exists in order of importance)
1. Responsible for maintaining and growing the Premium Finance loan portfolio. Develops and maintains relationships with insurance agents to drive loan production.
2. Assists the Agency Banking team in sales activities, including agency visits, Premium Finance sales presentations, and crafting written sales proposals.
3. Responsible for monitoring Federal and competitor rates, analyzing the impact of rate changes, and adjusting Bank's premium finance rates.
4. Works in cooperation with the Agency Banking Leader in reporting and analysis of the Premium Finance credit function. This includes policy recommendations and monitoring delinquencies in the Premium Finance portfolio and the collection of past due payments and fees, including managing charge-offs to an acceptable level in accordance with annual tactical plans. This includes collaboration in the development, review, and analysis of credit and collections reports in order to evaluate the effectiveness of current policies and procedures.
5. Manages relationships with vendors, workflow management systems, and other service providers as needed. Ensures that systems and documentation enhancements are current with most recent technology.
6. Performs human capital management responsibilities including employee selection, performance management, coaching, and development for the Premium Finance Specialists staff. Manages priorities and workload distribution, and removes barriers that impede progress. Completes all personnel, salary administration, and reporting duties. Performs operational responsibilities that drive team performance including planning, execution, process improvement and best-practice sharing.
7. Manages a staff of Premium Finance Specialists in the underwriting, processing, and disbursement of Premium Finance loans, tracking results with annual tactical business plan goals.
8. Reviews credit memos and risk assessments for credits to ensure compliance with the Bank's credit policy.
9. Assists the Agency Banking team in sales activities, including agency visits, Premium Finance sales presentations, and crafting written sales proposals.
10. Works with the Agency Banking team to coordinate and conduct on-site and remote training of agencies that utilize Westfield Bank's Premium Finance product.
11. Responsible for accurate monthly and quarterly reporting (e.g. business results, risk exposure in portfolio) for the Premium Finance unit to the Agency Banking Leader.
12. Ensures compliance with applicable regulations and statutes.
13. Assists the Agency Banking Leader with formulating annual business plan goals and objectives as well as longer-range planning initiatives.
14. Maintains awareness, understanding, and compliance with the Bank's internal policies and procedures, laws, and regulations appropriate for this position.
15. Provides assistance in response to regulatory and internal/external audit requests.
16. Travels as needed in order to perform other essential functions.
Desired Qualifications/Experience/Certification/Education (in order of importance)
1. 10 or more years' experience in a credit function for a financial services organization.
2. 5 or more years' of business management experience including sales, operations, and accounting.
3. Strong working knowledge in developing, analyzing, and maintaining credit scoring tools, conducting sales and credit analyses, and applying credit underwriting methodologies.
4. Strong oral, written and interpersonal skills resulting in the ability to interact with all levels of bank personnel and external contacts.
5. Experience maintaining a high degree of customer service focus.
6. Experience being accurate with a focus on attention to details via previous work assignments. Experience being adaptable and resourceful in various situations.
7. Strong working knowledge of Microsoft Windows and Office (Excel, Word) or other transferable software packages.
8. Must display a high level of initiative via an entrepreneurial spirit.
9. Bachelor's degree in Accounting, Finance, Statistics, Business or related degree or commensurate experience.
10. Valid driver's license and a driving record that conforms to company standards.
Physical Requirements (specific to the role)
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of the job.
Ability to work effectively in an office environment for 40 hours per week (including sitting, standing, and working on a computer for extended periods of time).
Ability to communicate effectively in a collaborative work environment utilizing various technologies such as: telephone, computer, web, voice, teleconferencing, email, etc.
Ability to travel as required, including overnight trips.
Ability to operate an automobile within the parameters of the driving policy.
Ability to work outside the office which may include walking, driving, and visiting potential customer locations
This job description describes the general nature and level of work performed in this role. It is not intended to be an exhaustive list of all duties, skills, responsibilities, knowledge, etc. These may be subject to change and additional functions may be assigned as needed by management.
Westfield offers a Total Rewards program that focuses on compensation, benefits, and wellness and includes perks like 401(k), pension plan, annual incentive, education reimbursement, onsite fitness center and casual dress. Work-life balance, recognition, and learning and career development are all part of a rewarding career with Westfield Bank.
To learn more about Westfield Bank and the opportunities available, please visit us at westfield-bank.com.


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