collateral assignment

1. Duties and responsibilities of an executive or employee that are in addition to the person's primary duties and responsibilities. For example, an employee may be assigned to serve as head of a labor relations committee.
2. Assignment of an asset to a lender as security for a loan. For example, an ownership of an annuity or the cash surrender value of a life insurance policy may be transferred from one person to another to serve as collateral for a debt.