Underwriting Job Description
Underwriting
provides guidance on restructuring loans and determining capacity, collateral and character to ensure specific underwriting guidelines are followed.
Underwriting Duties & Responsibilities
To write an effective underwriting job description, begin by listing detailed duties, responsibilities and expectations. We have included underwriting job description templates that you can modify and use.
Sample responsibilities for this position include:
Research documentation, contracts and systems to accurately complete amendments and contract rewrites
Fundamental concepts of insurance (including coverages & pricing)
Point of contact between carriers, agents, producers and account service managers
Develop product propositions based on technical, customer and distribution channel insights
Liaising and supporting the Head of Personal Lines Product and Underwriting Manager in the development of Personal Lines Underwriting Strategy and Business Plans
Communicate with policy operations on the execution of tasks needed to bind an account or complete a client’s request
Develop and maintain positive and constructive working relationships with underwriters, marketing professionals, brokers, and policy operations associates to provide high quality service to clients
Assist in review and assignments of e-mails in unit shared e-mail boxes, including e-commerce websites (transaction confirmations)
Support a tier based phone support system answering calls from agents or insured’s as needed
Evaluates, makes decisions and processes policies for multiple states based on Encompass underwriting strategies, underwriting guidelines while using underwriting judgment to access potential future profitability of the policy
Underwriting Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Underwriting
List any licenses or certifications required by the position: SAR, DE, FHA, VA, AU, CEBS, C2, C1, FLMI, AIAA
Education for Underwriting
Typically a job would require a certain level of education.
Employers hiring for the underwriting job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Education, Business, Finance, Law, Economics, Accounting, Associates, Management, Business/Administration, Mathematics
Skills for Underwriting
Desired skills for underwriting include:
Strategies to ensure underwriting guidelines are followed
Underwriting processes
Coverages
CNA’s products and appetite while clearly communicating CNA’s position at the point of sale
Tools to gather and evaluate information in order to reach appropriate decisions on renewals and new business
Processing
Practices
MS Office
Rating and policy issuance systems
Systems
Desired experience for underwriting includes:
Thorough knowledge and understanding of TDI underwriting philosophy, products and guidelines
5 years of experience in property and Casualty Insurance
Post-secondary diploma in any discipline
CIP designation is an asset
Insurance agency or carrier experience preferred
Claims handling experience preferred
Underwriting Examples
1
Underwriting Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of underwriting. 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 underwriting
- Coordinate and report on change requests, updates and usability of HDFS systems with appropriate departments
- Maintain up-to-date expertise of all H-D dealer facing systems
- Prepare for audits and respond to findings as required
- Manage a team of Underwriters
- Manage workflow, procedures and ensure teams have the appropriate training and education
- Promote high quality performance by developing and clearly outlining expectations for employees
- Provide technical expertise via evaluation and decision of FHA, VA, Conventional and Non-Conforming loan files
- Ensure credit quality and salability while production and turn time standards are achieved
- Respond to elevated loan questions and issues from team players and Loan officers
- Review guideline exceptions with external parties to ensure salability of closed loans – interaction with Credit Policy, Capital markets, and investors
Qualifications for underwriting
- Exceptional time management and organizational skills, math skills, attention to detail a must
- DE, and SAR certifications preferred
- Ability to deal with all levels demonstrating tact and diplomacy
- A general understanding of the regulatory framework that applies to lending operations, to include the Data Protection Act, the Consumer Credit Act, CIFAS, Money Laundering legislation and regulatory requirements
- Must be able to physically inspect multiple residences and common areas within an apartment complex, inspect comparable properties within the market
- 35hrs over a 7 day week
2
Underwriting Job Description
Job Description Example
Our innovative and growing company is looking for an underwriting. 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 underwriting
- Act as a liaison between the Operations and Credit Policy units
- Maintain regular contact with various levels of management
- Monitor and analyze reporting, identify trends to measure quality, customer concerns and need for process improvements
- Provide input to Regional Executive, Ops VP, and Credit Risk for process improvements, system enhancements
- Identify and recommend necessary training enhancements to ensure investor guidelines are consistently met
- Proactively manage department’s budget as it relates to cost per loan
- Underwriting Reports and MIS for Underwriting
- Evaluating risk acceptability based on driver quality, loss history, and overall business operations
- Identifying and communicating potential problems to lead underwriter(s)
- Communicating pricing decisions to agents and answer questions
Qualifications for underwriting
- Flexibility to work 1 and a half weekends on a 4 week rota
- Able to attend a one week training plan in Cardiff the end of July (all expenses paid)
- Customer focused, able to deliver exceptional customer services
- Computer skills to include Microsoft Word and Excel, Outlook and other company proprietary computer programs
- Associate’s or Bachelor’s Degree in Art or Science, or equivalent experience
- P&C license preferred – required within 3 months of hire date
3
Underwriting Job Description
Job Description Example
Our innovative and growing company is hiring for an underwriting. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for underwriting
- Generating Broker and Reinsurer correspondence in electronic format (i.e., e-mail, eFax) related to transaction processing and informational follow up requests using free-form letters, predefined or approved templates
- An understanding of basic commercial auto insurance underwriting
- Review, analyze, and interpret business metrics and reports
- Keep alert to industry and marketplace changes and share information with other underwriters and department managers
- Must be experienced in problem solving, quality control and loss containment initiatives
- Have the creativity and underwriting skills to develop, implement and control pricing and a risk selection standard that supports strategic objectives and achieve desired financial goals
- Effectively work with Actuarial, Claims, Loss Control, Operations, Finance, Information Technology and Premium Audit resources
- Work closely with staff at all levels to optimize productivity and service
- Lead and manage through influence vs
- Technical and training support for all HD Dealers (Weekends and Holiday’s may be required)
Qualifications for underwriting
- Must be a currently enrolled graduate student pursuing a degree in business and/or real estate
- Detail oriented and exceptional organization skills are a must
- Strong Microsoft Excel skills and some degree of prior Argus experience
- FLMI a plus or actively working toward
- Operational experience as a lead preferred
- Excel, Business Objects, and reporting proficiency to create and analyses data/metrics for desired results that will meet or exceed goals
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Underwriting Job Description
Job Description Example
Our company is growing rapidly and is looking for an underwriting. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for underwriting
- Thorough documentation and reporting to all stakeholders on HDFS dealer system outages
- Creates and maintains course outlines, user guides, and training materials to standardized format using appropriate software programs
- Participate in project execution of new programs including planning, requirements, development and testing, ensuring that projects are delivered on time
- Work with cross-functional teams to implement new features and functions maintain, support and upgrade existing system functionality
- Assist in the management of relationships with partners and other functional areas, keeping them aware of status and deliverables for projects and outstanding issues
- Assist in the management, development and reinforcement of content and tools to increase exposure, brand recognition and market share
- Uses effective time management to ensure dealer experience is satisfactory and meets expectations
- Conduct basic system analysis to be used in decision making and troubleshooting
- Backs up Dealer Operations Support Help Desk
- Via telephone, obtains information from dealers regarding operating system specifications
Qualifications for underwriting
- Strong Microsoft Excel user and some degree of prior Argus experience
- Minimum of 5 years of recent supervisory experience required
- Experience with all facets of credit underwriting, including income analysis for qualifying self-employed borrowers
- Familiarity with income tax documentation including but not limited to sole proprietorships, S-corps, C-corps, partnerships and limited liability corporations
- Extensive underwriting background with particular emphasis on conforming and nonconforming lending
- Thorough knowledge of Fannie/Freddie/FHA/VA mortgage programs with a strong understanding of how to apply these guidelines to make sound lending decisions
5
Underwriting Job Description
Job Description Example
Our company is growing rapidly and is hiring for an underwriting. 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 underwriting
- Identifies/clarifies potential discrepancies in information to gain accurate understanding of dealers technical issue
- Enhance operational effectiveness by providing training to H-D dealers and internal stakeholders through selected in store visits, phone/fax, email, mail and online training
- Support inbound dealer questions and trouble shoot process/system related issues as they arise (Requires flexible schedule to match hours of operation within the dealer network
- Reinforce sales initiatives within the dealer base
- Conduct outbound call campaigns in support of sales initiatives
- Is a resource for the Finance and Insurance staff to rely on for training and other related
- Completes data entry of all information from installment loan contracts into financial system
- Responsible for reviewing contract documentation for accuracy and compliance
- Administer verifications with external entities
- Responsible for document preparation, scanning and filing
Qualifications for underwriting
- Must demonstrate strong analytical skills and decision-making ability in order to make lending decisions and translate guidelines
- Proven interpersonal skills, ability to present complex and sensitive issues to senior management and interact with other departments, vendors and clients in a professional manner
- Must demonstrate the ability to work independently, prioritize tasks and assignments in order to meet strict deadlines
- Proven team coaching skills
- Proven ability to identify risk patterns and actual risk of loan level issues being assessed
- Ability to establish and maintain effective work relationships both internal and external parties to support team, department, vendors and clients