Senior Underwriter Job Description
Senior Underwriter Duties & Responsibilities
To write an effective senior underwriter job description, begin by listing detailed duties, responsibilities and expectations. We have included senior underwriter job description templates that you can modify and use.
Sample responsibilities for this position include:
Senior Underwriter Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Senior Underwriter
List any licenses or certifications required by the position: DE, SAR, FHA, SASE, ALU, VA, LAPP, AFSB, RPLU, CPCU
Education for Senior Underwriter
Typically a job would require a certain level of education.
Employers hiring for the senior underwriter job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Business, Education, Finance, Accounting, Economics, Management, Business/Administration, Mathematics, Real Estate, Writing
Skills for Senior Underwriter
Desired skills for senior underwriter include:
Desired experience for senior underwriter includes:
Senior Underwriter Examples
Senior Underwriter Job Description
- May or may not act with high levels of underwriting authority, based upon experience and qualifications
- Works with credit/underwriting team in Residential Loan Operations to analyze and make credit decisions on single family residential mortgage loan programs
- Inputs, accesses and retrieves information on the mortgage loan processing system
- Selects and underwrites Commercial Lines new and renewal risks within delegated underwriting authority
- Consults with agents and brokers to obtain new business submissions and manages the assigned territory by visiting agents, brokers and clients
- Requires in depth knowledge of the local marketplace, strong agency relationships and a keen sense of local competition
- Evaluates risk and underwrites Group Health products under the pricing and underwriting guidelines established by SGLA
- Visit existing and potential clients and distributors at their offices and at industry meetings
- When an account is sold, this position is responsible for notifying the appropriate Group Health team members and providing the final proposal to the Contract Writer and client / distributor
- Peer review and sign off, when appropriate given authority levels, on new business or renewal quotes
- Three years of actual appraisal experience or formalized training from Institute classes (MAI) Society of Real Estate appraisals and/or MBA classes and/or OTJ underwriting
- Industry course work such as LOMA, ALU, CLU, is preferred
- Ability to review guidelines, memos, manuals
- Respond to inquiries from state and regional counsel, direct operations, independent agents, and customers (including attorneys and lending institutions, such as banks, savings and loans, and mortgage bankers, ) relating to National underwriting issues
- Experience in interpersonal, presentation, and persuasion skills
- Experienced in meeting individual business objectives
Senior Underwriter Job Description
- Determines acceptability of risks within program
- Services existing accounts (endorsement changes, certificates, and other service as needed)
- Assist regional manager and product leaders in further developing existing broker relations establish new relationships to attract business opportunities
- Underwrite and analyze new business and renewal submissions
- Cross-marketing with other XL lines
- Gather, analyze and evaluate risk exposure through appropriate risk documentation
- Determining acceptability of risks in accordance with company guidelines and standards
- Determine appropriate pricing based on financial and competitive analysis in line with compliance requirements
- Negotiate with brokers to reach positive and profitable outcomes
- Analyzes the quality, quantity, and profitability of Programs underwritten
- Ability to work with diversified group of home office underwriters, sales, and agents to provide the best customer service
- Four year college degree in business or a related field or equivalent combination of education and relevant experience (Academy of Life Underwriters, American College, Life Office Management Association active and ongoing enrollement
- Proactive leadership of system data cleansing exercises to improve overall portfolio data quality, to achieve high standards of regulatory compliance and to minimize audit exceptions
- Potential occasional attendance at other client or obligor customers’ locations to review financial investment opportunities
- Co-ordination of due diligence exercises and client portfolio merger work from a risk underwriting perspective involving the internal clients serviced by the team
- Contribution to the ongoing development of key risk management tools and client communication channels
Senior Underwriter Job Description
- Identify thematic solutions for common service needs and assist in developing procedures to streamline, eliminate or automate these needs
- Provides professional, timely and courteous communication and service to external clients and cross departmental staff to successfully resolve issues pertaining to policyholders and territory producers
- Collaborates with territory team on reports and update databases as required
- Assists in gathering and communicating competitive information
- Conducts risk review and analysis and determines terms and conditions appropriate pricing in accordance with granted authority and XL Catlin underwriting guidelines
- Cultivate effective business relationship with accounts, providing risk stewardship including initial setup of service commitments and ongoing consultation
- Underwriting both new and renewal lawyer’s professional liability business within assigned territory
- Developing, maintaining and servicing broker relationships within the distribution model
- Underwriting both new and renewal business within assigned territory
- Specific duties as assigned by management due to regional specialty crops
- 500125- Responsible for ensuring the effective risk selection of cases reviewed
- Ability to identify underwriting strengths particularly on large, more complex or elderly cases
- Ability to present sales ideas to agents depending on the rating
- Individual Life or DI Underwriting experience
- A minimum of 5 years’ experience as a Casualty Underwriter
- Must also have demonstrated negotiation and production skills
Senior Underwriter Job Description
- Assist Underwriting Manager in relating to underwriting and marketing activities
- Underwriting both new and renewal MPL business within assigned territory
- Determine and order the appropriate underwriting requirements in order to assess the risk
- Determine when a requirement is needed and when we can do without, based on the applicant’s medical history, age and amount applied for
- Use and interpret underwriting manuals
- Document documentation, without under or over-documenting
- Interpret reported Medical Information Bureau (MIB) codes and report MIB codes correctly
- Handle co-signing and referrals from Junior and Intermediate Underwriters within time service standards
- Refer cases to reinsurer over automatic treaty limit
- Bring recommendations for handling and process improvements to the Underwriting Manager
- Will handle calls, chats and transaction processing simultaneously
- CIC or CPCU designation preferred
- 5 + years of experience in employer stop loss or health (re)insurance, preferred
- Demonstrated expertise in employer stop loss, provider excess, HMO reinsurance or medical excess reinsurance product lines, preferred
- Basic negotiation and persuasion skills when working to present quotes or resolve issues
- Demonstrated ability to build and maintain relationships both external and internal
Senior Underwriter Job Description
- Utilizing authority while underwriting and pricing the following lines of coverage
- Maintaining current broker contacts in addition to establishing new retail and wholesale broker relationships
- Collaborating with home office, loss control, claims, actuary, and legal in quoting and binding new business
- Assisting in the development and executing on the business strategy necessary in driving submission flow and the binding of profitable business
- Other responsibilities will include, generating production reports including quoted premium, bound premium, submission counts by broker, bound to quote ratios, and bound to sub ratios
- Relationship development with a variety of brokers, including visits to Marsh offices (may include travel) and customer visits as required
- Ownership of, and involvement in, team projects and strategic initiatives
- Mentoring and training of underwriters and handling of referrals in accordance with Delegated Underwriting Authority
- Responsible for reviewing, analyzing, and documenting evidence for New Business to determine appropriate risk classifications within review and signature authority
- Has responsibility for risk selection / rejection, pricing, retention, growth and profitability of the programs that they will be managing per divisional objectives
- Experience in credit decisioning systems Experian, Equifax
- Customer service levels – TCF dashboard metrics
- In addition to proficiency with all Underwriter II requirements, must have full ANFI designation, must complete Introduction to Flood Claims, Increased Cost of Compliance training and issue policies with the exception of Submit for Rate and Special Rates
- You should possess strong analytical and problem solving skills strong sales and marketing abilities
- Sales and business development experience highly preferable
- Demonstrated ability to work independently with strong organizational and multitasking skills