CREDIT ADMINISTRATION ANALYST - LENDING & CREDIT ADMINISTRATION DEPT - FIRSTBANK PR

CREDIT ADMINISTRATION ANALYST

LENDING & CREDIT ADMINISTRATION DEPARTMENT

FIRSTBANK PR

Our Company

At FirstBank PR, we strive to be trusted advisors to our clients, and our employees are the ones that ensure we deliver on our promise of excellence in personalized customer service. Our more than 3,100 employees in Puerto Rico, the Virgin Islands and Florida share a passion for excellent customer service. We are proud of our team because they are continuously surpassing our client’s expectations.

Do you have a passion for helping customers, building relationships, and delivering extraordinary, personalized customer service? If your answer is yes, FirstBank is the number one place for you.

A Brief Overview

The Credit Administration Analyst is responsible for effectively supporting the Business Unit's efforts to ensure Bank’s collateral is properly insured. This staff is instrumental in providing overall support to credit administration tasks of the different portfolios in a centralized, standardized, and consistent manner, thus reducing risks and improving controls.

What you’ll do:

• Reviews and analyses insurance policies, renewal schedules, endorsement expirations, and compliance documentation. Notifies insureds and brokers about required information or documents needed to keep policies, endorsements, and risk files updated and in good standing. Maintains follow‑ups on pending documentation and once received, ensures timely resolution of insurance covenants and uploading in the FB Commercial Hub (FBCH) Platform.

• Prepares reports, statistics, tables, and presentations as required by management.

• Contributes to process optimization, identifying opportunities to streamline monitoring and resolution processes by taking advantage of structure/system capabilities.

• Prepares routine and advance correspondence, including e-mails, letters, memoranda and reports related to expired insurance policies, renewals, and special projects communications.

Insurance:

• Monitoring & resolution of all critical ticklers related to insurance covenants (i.e. hazard, flood, life insurance, etc.). procuring direct contact with Insurance Companies, Brokers or Borrowers to achieve timely update of information and avoid aged covenants.

• Reviews and analyzes insurance policies to ensure proper coverage endorsement.

• Maintains an insurance policy database (type, coverage, insurance company, maturity, payment up to date, etc.) to ensure proper management of risk, follow-ups and renewals of policies at maturity.

• Ensure compliance with Flood Insurance program by sending letters to customers within the established regulatory period. Issues force placements policies as deemed necessary.

• Empowered to cure and manage insurance situations with borrowers, while maintaining the Relationship Officer (RO) informed; with the exception of SAG where RO continues to be the main contact.

• Conducts periodic reviews and updates of procedures together with management.

• Periodic monitoring and review of documents pending approval at the FB Commercial Hub (FBCH) Platform.

• Participates in staff meetings and individual coaching sessions, as needed.

• Participates in the Department’s special projects and activities identified by management.

Competencies:

• Strong written and verbal communication for reports, presentations, in Spanish and english.

• Prioritize tasks, manage deadlines, and coordinate resources effectively.

• Handle sensitive financial and personnel information responsibly.

• Ability to use Microsoft Office tools, banking software, data security protocols, and digital platforms.

• Respond to changing regulations, market conditions, and organizational needs.

• Understand and respond to internal and external client needs.

• Knowledge of laws, regulatory compliance and other financial regulations.

What You’ll Need:

• This position requires a Bachelor's degree in Business Administration, preferably with a concentration in Finance or Accounting.

• The ideal candidate must possess 3 to 5 years of relevant experience within the insurance industry, demonstrating a strong understanding of insurance processes, products, and regulations.

• Microsoft Office proficient (Word, Excel, PowerPoint).

• Write, speak and understand English.

• Excellent interpersonal and communication skills.

• Customer Service oriented.

• Ability to manage multiple priorities, organize daily tasks and meet deadlines in a high-volume environment.

Disclaimer: The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties, skills required of personnel so classified. The reporting relationship may not reflect the most recent changes to the corporate reporting structure.

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