Loan Protection Products Manager

Work Location

This position is only eligible for in office/branch work arrangements.

Compensation

• Base Salary: The full salary range for the Loan Protection Products Manager position is $31.22 to $44.60 per hour, with new hires generally starting between $33.42 to $40.12 per hour, based on relevant knowledge, skills, education, and experience.
• Annual Incentive: In addition, all SELCO Insurance Service team members are eligible for an annual incentive bonus based on the completion of 3-4 team and individual goals, set by your supervisor at the beginning of each year. The total incentive received is calculated based on the percentage of the goals you complete. Incentive amounts can range from 0%-12% of the prior year eligible earnings (with the average payout for the last 3 years being 12%).

Benefits

Our team’s well-being is a priority, and we’re proud to offer a comprehensive and holistic benefits package for team members and their families.

• Medical, dental, vision, long-term disability, and life insurance
• 401(k) retirement plan (with guaranteed employer contributions)
• Paid time off for personal and volunteer hours, as well as 10 paid holidays per year
• Additional programs and benefits include wellness and educational reimbursements, an employee assistance program, discounted rates on select SELCO services, and more.

Position Overview

Responsible for overseeing the growth, product positioning, development, and product life cycle of the Loan Protection Products (GAP, Warranty, Debt Cancellation, Credit Insurance, AD&D) and other future related products.

SELCO Core Essential Functions

• Demonstrate adaptability and leadership skills, and uphold SELCO’s Mission Statement, Corporate Values, Service Promises and Exceptional Customer Service Standards.
• Adhere to federal and state regulations, SELCO policies, confidentiality requirements, and other compliance obligations.
• Interact with internal and external customers in a warm and friendly manner, demonstrate a sincere interest and willingness to help.
• Consistently achieve individual performance goals and contribute to department and organizational objectives.
• Represent SELCO with a high level of integrity and professionalism.
• Adapt to and support change to accomplish SELCO’s goals and objectives.
• Actively participate in and/or lead required meetings and provide training.
• Perform other duties as assigned.

Essential Functions

• Oversee and ensure effective management and sales growth of the lending-related insurance products and other assigned products (Debt Cancellation, GAP, Warranty, Group AD&D, Life & P&C), including:
  • Ensure adequate training of SELCO staff who offer these products to members.
  • Identify training needs and coordinate training efforts between Product Providers, SELCO’s Training department, and take an active training role in virtual and on-premises training.
  • Work as the primary liaison between SELCO and the various Product Providers. Escalate and resolve product or vendor-related issues. Work with management on product contracting and renewals, including RFP’s related to possible new products or replacing existing providers.
• Help maintain strong relationships between SELCO Group and the various stakeholders, including:
  • Holding regular performance meetings with stakeholders.
  • Creating and delivering monthly performance reports.
  • Working with stakeholders, including Marketing, to produce annual marketing campaigns and any necessary updates to website content and marketing collateral.
• Act as a liaison for all insurance referral relationships between SELCO Group and SELCO. Routinely meet with branch and department stakeholders to discuss process improvement, goal attainment, and relationship management.
• Stay informed of market trends and product development to help ensure SELCO maintains product offerings that best meet member needs and strategic objectives. Research, network, and survey other credit unions to learn industry best practices and ensure SELCO’s programs are competitive.
• Monitor claims activities and be a resource to both the SELCO team members and members for claims-related issues.
• Participate in and/or lead projects containing departmental elements, including coordinating the work of team members assigned to projects.
• Research, establish, and oversee the maintenance of vendor relationships.
• Research and make annual budgetary recommendations. Approve invoices as authorized.
• Maintain and demonstrate comprehensive knowledge of area of specialty, as well as RFP and contracting process.
• Oversee internal communication related to product updates, changes, and enhancements.
• Create and distribute reports, including performance, board, and management reports.
• Act as system administrator for all assigned insurance product systems.

Skills and Abilities

The position requires the following:

• Strong interpersonal skills with the ability to build strong, collaborative relationships with individuals and groups at all levels both within and outside the company.
• Excellent communication and presentation skills in person, over the phone, and in writing, including through electronic channels.
• Exceptional customer service skills.
• Strong computer and software skills, including Microsoft Office (e.g. Word, Excel, SharePoint, etc.), core system and insurance systems. Ability to create reports and manage databases.
• Ability to apply knowledge acquired through experience, job training, and self-study.
• Excellent time management, prioritization and organizational skills with a high level of initiative, responsibility, and accountability, including flexibility to adapt to changing business needs and deadlines.
• Ability to use experience-related knowledge and good judgment to plan and accomplish goals.
• Ability to maintain confidentiality of sensitive information.
• Strong problem resolution and problem prevention skills.
• Willingness and ability to receive, give, and assimilate coaching and feedback.
• Ability to work accurately with close attention to detail.
• Ability to perform duties in an environment with background noise and complete tasks despite interruptions.
• Work ethics include dependability, punctuality, and a professional appearance and demeanor.
• Strong analytical ability with active listening skills.

Education and Experience

• High school diploma or equivalent; and
• Associate degree in Business or related field or equivalent related experience; and
• At least two (2) years of insurance or financial institution experience; and
• At least (1) year of sales experience, preferably within an insurance agency or financial institution; and
• Product management experience is preferred, but not required; and
• Must be bondable.

Physical Demands

While performing the job duties, approximately 90% of the time is spent stationery, with the remaining time spent moving around work areas. Frequent communication occurs in person, over the phone, and in writing. This position requires the ability to view a computer screen and interpret printed materials and other documents. This position requires the ability to lift and transport up to 5 pounds, and there is an occasional need to stoop, kneel, or reach to access documents, equipment and supplies.

Interaction and Work Environment

Reports To: Vice President of Insurance Services
Work areas are inside in a climate-controlled environment in close proximity to other employees with moderate background noise. Occasional travel to other locations may be needed.

Material and Equipment Used

Computer, phone, scanner, copier, fax machine, web camera, and general office supplies

Acknowledgement

I have received and reviewed a copy of the Loan Protection Products Manager Job Description. I understand that this job description is not a contract of employment and in no way changes the at-will nature of the employment relationship with SELCO Group.