Market Underwriter Job Description
Market underwriter
provides technical credit and risk training to Credit staff to improve underwriting, financial screening and structuring skills.
Market Underwriter Duties & Responsibilities
To write an effective market underwriter job description, begin by listing detailed duties, responsibilities and expectations. We have included market underwriter job description templates that you can modify and use.
Sample responsibilities for this position include:
Performs necessary credit analysis, due diligence, and review of documents for new transactions and monitors/manages ongoing performance/risk of accounts within his/her assigned portfolio under direction of senior staff (typically Sr
Has developed knowledge of the specifics of the business unit and/or products being supported and may serve as support to underwriters and credit analysts on topics related to operating risk, treasury services product, and other specific structures in the local market
Constantly monitoring market efficiency and staff levels in an effort to manage growth and to streamline when needed
Accepting change and dealing with it proactively and constructively
Drive efficiency in the credit process
As a credit approver, confidently exercise authority while clearly articulating the reasoning behind credit decisions
The Underwriter II will also have the potential ability or aptitude to underwrite Syndications and Participations
The Underwriter III will also have the potential ability or aptitude to underwrite Syndications and Participations
Coordinates service efforts with the Plan Administrator, brokers, policyholders
Generating, underwriting and analyzing for private and non-profit based organizations
Market Underwriter Qualifications
Qualifications for a job description may include education, certification, and experience.
Education for Market Underwriter
Typically a job would require a certain level of education.
Employers hiring for the market underwriter job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Associate Degree in Business, Finance, Accounting, Economics, Education, Mathematics, Management, Business/Administration, Marketing, Risk Management and Insurance
Skills for Market Underwriter
Desired skills for market underwriter include:
Techniques
Underwriting philosophy
Procedures
National/local filing regulations and guidelines
Credit and risk analysis
Financial modeling and able to structure credit in modeling environment
Loan and related legal documents
Federal banking regulations
Insurance industry and the legal and regulatory environment
Practices
Desired experience for market underwriter includes:
Knowledge of Northern California/ San Francisco Market experience a plus
While performing the duties of this job, the employee is required to sit, talk, hear, and use hands to finger, handle or feel objects, tools or controls
BA/BBA/MBA and completion of a major corporate bank credit training program (or the equivalent corporate banking/corporate finance experience) and typically a minimum of five years experience in banking/lending which might include credit, structuring and marketing experience
Mathematical, organizational, problem solving/analytical and business judgment written and oral communication skills
Analyzes commercial lines middle market accounts to make decisions based on individual risk characteristics, exposure analysis, hazard recognition and control
Prices business according to Company middle market underwriting and pricing guidelines
Market Underwriter Examples
1
Market Underwriter Job Description
Job Description Example
Our company is searching for experienced candidates for the position of market underwriter. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for market underwriter
- Partners with Territory Managers to identify issues or patterns and works to resolve or improve them
- Trains, coaches, and serves as a technical resource to other underwriters
- Administers and monitors underwriting rules and guideline, rating manual rule, and insurance laws and regulations
- Generating, underwriting and analyzing Group Corporate Accident & Group Special Risk business
- Working within broad limits and authorities on complex assignments
- Review middle market credit requests within assigned authority
- Prepare underwriting proposal and credit offering memo
- Manage diverse loan portfolio consisting of C&I loans, including owner occupied real estate, collateral backed loans, working capital and revolving lines of credit
- Leads and manages a team of credit professionals with varying experience in the underwriting and approval of loan transactions
- Ensures appropriate deal staffing and manages resources
Qualifications for market underwriter
- Of positions of increasing responsibility
- Strong knowledge of Management Liability Industry
- 8+ years of P&C carrier Middle Market Underwriting experience required including superior technical knowledge, proven presentation abilities, sound decision making and analytical skills are required (or 5+ years for a Senior level underwriter)
- Stellar sales and negotiation skills required
- BS/BA degree required or equivalent in experience required
- CPCU or other related designation(s) preferred
2
Market Underwriter Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of market underwriter. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for market underwriter
- Negotiates terms and conditions for transactions and works with cross-functional teams to ensure appropriate documentation
- Oversees the management of existing portfolio accounts, performs rigorous analysis of transactions, and resolves problem accounts in partnership with deal teams, workout and specialists
- Identifies opportunities to up tier accounts to Agencies
- Prepares risk assessments on new deals and portfolio accounts and presents senior management with a clear and consistent approach to mitigate risks
- Review middle and upper middle market credit requests within assigned authority and prepare underwriting analysis and credit offering memo
- Underwriting, analyzing and generating new and renewal P&C business
- Market facing and production within the PACE Division
- Responsible for the Orlando territory
- Provides clear and concise rating instructions for quotes prior to generating proposal for presentation to the agent
- Recognize and solicit up/cross-sell opportunities on new and renewal Middle Market accounts beyond Core Middle Market capabilities
Qualifications for market underwriter
- 20-30% travel is required within the broker assigned territory- a company pool car will be provided - a valid driver’s license is required
- Position tier and level will be commensurate with experience
- Underwrites business (new and renewal)
- Coaches and mentors staff on team
- Typically manages higher volume and/or higher Total Written Premium goal compared to country-wide standard
- May or may not focus on technical underwriting
3
Market Underwriter Job Description
Job Description Example
Our innovative and growing company is looking for a market underwriter. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for market underwriter
- Ensure loan agreements are complete and accurate, and in compliance with policy
- Capable of underwriting highly complex business and will require limited support from senior
- Underwriters and infrequent referral activity to complete quotes
- Production and underwriting of new and renewal Contract Surety business
- Establish new develop existing agency and broker relationships
- Production and underwriting of new and renewal Primary Casualty business in the national accounts market with a focus on loss sensitive business
- Execution of the Global Corporate external marketing strategy
- Assist in developing annual business goals for assigned agents/producers
- Participates in training and initiatives to develop knowledge base
- Submission generation of GMM opportunities from target agencies that meet GMM appetite
Qualifications for market underwriter
- Regular Driving within the Territory is required, as is a valid driver's license
- Position is not a vacant opening but is an opportunity for candidates to express interest in future opportunities
- Position level and title is commensurate with experience
- 8+ years of prior P&C carrier Middle Market Underwriting experience is required including superior technical knowledge in all standard lines (I.e., Property, Auto, Worker's Compensation, GL,Umbrella), proven presentation abilities, sound decision making, and excellent risk and analytical skills are required (or 5+ years for a Senior level underwriter)
- Experience and desire to with pipeline desirable accounts and use of applicable tracking software
- Strong relationship building skills required with both internal customers with large agents and brokers to drive in profitable business
4
Market Underwriter Job Description
Job Description Example
Our company is growing rapidly and is looking for a market underwriter. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for market underwriter
- Provide acceptable level of underwriting documentation for all assigned accounts
- Knowledge of all four segments of Executive Assurance is required
- Provide monthly forecasts for new and renewal business and regular reconciliations to such forecasts
- Monitor new business flow, quote ratio and hit ratio from each target agency to monitor variances to plan
- Underwriting, analyzing and generating multi- line new and renewal business
- Developing and maintaining agency and broker relationships within territory scope of Texas, Oklahoma, Arkansas, Mississippi, Louisiana, Tennessee and Alabama
- Market facing and production activities within the Specialties Division
- Complying with underwriting rules and guidelines, insurance laws and regulations and rating manual rules
- Underwriting, analyzing and generating new and renewal umbrella business
- Marketing and production for the Commercial Insurance Casualty Division
Qualifications for market underwriter
- Position tier, level and compensation will be commensurate with experience
- Bachelor’s degree and or holds or is working towards relevant professional qualifications CIP, ACII
- 1 – 5 Bullet Points Maximum >
- 8+ years of P&C carrier Middle Market Underwriting experience required, Surplus lines experience is a plus
- Production goals to be set individually but will generally range between $1.5-2.0M per underwriter depending on skill sets, territory, business make-up, etc, in order to meet or exceed the annual branch new business goals
- Strong focus on identifying client needs and flexibility in developing solutions
5
Market Underwriter Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of market underwriter. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for market underwriter
- Following underwriting rules and guidelines, insurance laws and regulations and rating rules
- Developing and maintaining agency and broker relationships within the territory scope of the west from Colorado and Arizona to the entire west coast
- Market facing and working with all classes of business Administering and monitoring underwriting rules and guidelines, insurance laws and regulations and rating manual rules
- Developing and maintaining wholesale broker relationships
- Strategic account management and work with MGA to track delivery of the Underwriting Improvement Plan, and agree format of reporting
- Provide expert support and coaching to schemes centre of excellence in respect of agricultural insurance
- Develop and progress new business opportunities to ensure profitable growth on the MGA is achieved
- In-depth knowledge of agricultural insurance line of business and the legal and regulatory guidelines
- Administer and monitor underwriting rules and guidelines, insurance laws and regulations, and rating manuals
- Work at the highest authority limits on assignments utilizing the highest degree of technical complexity and coordination
Qualifications for market underwriter
- Enthusiasm for new business opportunities and the desire to think innovatively and creatively
- Acts strategically and exhibits an entrepreneurial mindset
- Excellent organizational skills and ability to manage peak period workflows
- Ability to work in a fast paced environment and effectively manage change
- Effective strategic relationship management and portfolio management skills
- Coaches and inspires at all levels