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Underwriter Job Description: Top Duties and Qualifications

Your job description is the first contact between your company and your new recruit. With millions of people searching for jobs on Indeed each month, a great job description can help you attract the most qualified candidates to your open position. To get you started, here are some tips for creating an effective job description.

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Underwriter job title

An effective job title wiil typically include a general term, the level of experience and any special requirements. The general term will optimize your job title to show up in a general search for jobs of the same nature. The level of experience will help you attract the most qualified applicants by outlining the amount of responsibility and prior knowledge required. And if your position is specialized, consider including the specialization in the job title as well. But avoid using internal titles, abbreviations or acronyms to make sure people understand what your job posting is before clicking.

  • Underwriter
  • Junior Underwriter
  • Mortgage Underwriter
  • Underwriter (Part-Time)
  • Loan Underwriter
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Underwriter Job Description Examples:

Example 1

Job responsibilities:

  • Understanding of Property(SFSP, IAR, Large risk), Engineering (Project & Annual), Marine & Misc line of business.
  • Risk analysis, Risk acceptance, Risk selection, Policy coverage (Policy wording, Add-on covers, Exclusions / Inclusions Special warranties, Pricing & Deductibles, Reinsurance adherence, Risk management overview, claims review) within the purview of set Underwriting Guideline.
  • Preparation of RI slips & discussion with CO.
  • Carry out meetings with brokers/customers to understand their requirements and design the insurance terms accordingly.
  • Maintain TAT and compliance as per UW authority matrix.

    Job Type: Full-time

    Salary: ₹450,000.00 - ₹550,000.00 per year

    Benefits:
  • Health insurance
  • Provident Fund
    Schedule:
  • Day shift
    Supplemental pay types:
  • Performance bonus



    Ability to commute/relocate:
  • Mumbai, Maharashtra: Reliably commute or planning to relocate before starting work (Required)

    Application Question(s):
  • Do you have General Insurance, commercial underwriting experience ?

    Experience:
  • total work: 2 years (Required)


    Speak with the [phone number]

    • Example 2

    Role: Senior Credit Underwriter, Credit & Policy The Senior Credit Underwriter will have the following responsibilities:

  • Handle the entire loan application process, which includes TVR (telephone verification), analysis of profile, documents and financial parameters, coordination with different teams and preparation of summaries, suggest risk mitigation techniques and recommend decision for the loan application

  • Analyze credit data, income verification and other financial statements to determine the degree of risk involved in extending credit

  • Complete a thorough, in-depth analysis of new credit requests. The process includes analysis of income proofs, repayment record, loan limits, ROI

  • Compare liquidity, profitability, and credit histories of individuals being evaluated.

  • Conduct TVR and make an assessment of the customer and resolve outstanding questions related to the transaction

  • Prepare reports that explaining the degree of risk involved in extending credit or lending money and strategizing ways to mitigate the risks

  • Maintain portfolio of customers, monitor repayment progress and lead collections initiatives for delinquent accounts

  • Evaluate customer records and recommend payment plans based on earnings, savings data, payment history, and purchase activity

  • Cross functional exposure with robust interactions with strategy, technology team, product teams for suggesting improvements in processes, system interfaces, etc.
  • Regularly providing inputs to Policy Team basis findings and trends in the underwriting process.

    Job Type: Full-time

    Salary: ₹400,000.00 - ₹750,000.00 per year

    Schedule:
  • Day shift
  • Morning shift

    Ability to commute/relocate:
  • Mumbai - 400059, Maharashtra: Reliably commute or planning to relocate before starting work (Required)

    Experience:
  • total work: 2 years (Preferred)

    Speak with the [phone number]

    • Example 3

    We Looking for Assistant Manager - Medical Underwriting

    Department - Operations

    Job Description -

  • Appraise medical risks for life insurance application
  • Using factors such as age, occupation, medical history, financial standing and other relevant conditions that determine insurability
  • Appraise level of risk involved in applications
  • With adverse medical findings
  • Where medical opinion or decision is necessary for acceptance/rejection of insurance coverage
  • Evaluate medical condition and analyze the test results of the applicants Underwrite new and existing business
  • Recommend, accept, reject insurance coverage within limits set in the underwriting policy
  • Handle routine and non-routine and renewal cases
  • Refer difficult cases to superiors
  • Assessing financial documents and summarize the same.

    Measure of Success:

     Ensure adherence of TAT for underwriting of proposals  Adhere to all regulatory requirements and reports exception.  Lead team of motivated professionals aligned to company goals  Manage internal and external stakeholders in terms of CSAT and DSAT.

    Job Type: Full-time

    Salary: From ₹4,500,000.00 per year

    Schedule:
  • Day shift

    Ability to commute/relocate:
  • Gurgaon, Haryana: Reliably commute or planning to relocate before starting work (Required)

    Experience:
  • total work: 1 year (Preferred)

    Speak with the [phone number]

    • Example 4

    ABOUT US

    *
    RIA has been one of India’s leading Insurance Brokerage Companies since 2003. As one of the first few Brokerage Companies to be registered in India by IRDA, we have extensive experience across Industries and Insurance types in both Commercial (Employee Benefits, Liability, Marine) and Retail (Health, Motor, Term Insurance) segments.*

    *

    We are committed to partnering with our clients to understand their business operations and personal needs, risk exposures. Our customer service orientation has resulted in high retention of our clients across corporates, SMEs and individual customers.
    *
    WHAT YOU WILL DO
    The Underwriter – CorporateSME NON EB will work with the client to understand the risk, do risk analysis, work with the insurance company underwriters to get the es, build QCR and work with the management team of RIA and Client to close the business.

    Location: Delhi/NCR

    Role and responsibilities

    Taking care of proposal underwriting of corporate clients.

    The Individual can work with Fire, Engineering, Marine and Miscellaneous proposals.

    Risk Inspection and exposure analysis.

    Quote generation/ sourcing/RFQ generation and es comparison.

    Resolving client’s queries.

    Working with the sales team to retain the renewals and close the new business via risk analysis and GAAP analysis of the client. Would need to suggest improvement in the coverages.

    Work with underwriters from insurance companies to explain the requirements in terms of coverage with the help of add ons and proper risk inspection.

    The Individual should have good knowledge of at least one line of business example - Fire, Engineering, Marine and Liabilities Lines.

    Requirements
  • Enjoy client engagement and can act as a trusted partner to the client

  • Interest in insurance industry is a must; Existing knowledge of insurance in at least proficient in one line of business

  • Be goals and target oriented

  • Like problem solving: Be interested in learning about clients’ industries and issues, and demonstrate willingness to develop innovative solutions for clients

  • Strong collaboration skills required for partnering with the RIA Underwriting Team and Insurance Companies

  • Very comfortable with numbers and be analytical

  • Detail orientation is a must

  • Knowledge of Excel, Word, and PowerPoint is required

    *

    Job Types: Full-time, Regular / Permanent

    Salary: ₹300,000.00 - ₹700,000.00 per year

    Schedule:
  • Day shift

    Ability to commute/relocate:
  • East of Kailash, New Delhi -110065 , Delhi - 110065, Delhi: Reliably commute or planning to relocate before starting work (Preferred)

    Experience:
  • total work: 4 years (Required)

    Speak with the employer
    [phone number]
    Application Deadline: Start Date: 17/06/2022

    • Example 5

    Description:
  • Researching and evaluating client credit worthiness.
  • Creating credit scoring models to predict risks.
  • Approving or rejecting loan requests, based on credibility and potential revenues and loss.
  • Develop, review and update company’s credit policies.
  • Ensure all lending procedures comply with regulations.
  • Calculating and setting loan interests rates.
  • Monitoring loan payments and bad debts.
  • Analysis on customer satisfaction.
  • Factors influence the satisfaction.
  • Provides support for business developers on new customers

  • Undertakes the analysis, evaluation, and underwriting of proposed credit facilities for customers and prospects

  • Assesses credit opportunities; identifies key risks, and structures alternatives working with relationship managers and credit officers

  • Provides support to account officers on customer calls as needed

  • Responsible for measuring covenants put in place within loan agreements, with a clear understanding of the effect and purpose of those loan covenants, and communicates the compliance of the borrowers to the relationship manager and chief credit officer as needed

  • Applies experience with comparable credits to recommend appropriate covenants, terms, and conditions, and structure for a credit request

  • Identifies policy exceptions within a credit request

  • Discusses risk ratings and the rationale for the determination of acceptable credits with the relationship managers (RM) and credit approves.

    Skills:
  • Education: Credit underwriters require a minimum of Bachelor’s degree in Business, Finance, or Accounting
  • Knowledge: They may require a minimum of 0 to 3 years of underwriting and analysis experience depending on the needs of the employer. They may also be required to have completed a formal credit training program.
  • Communications skills: They require both oral and written communication skills to work with the lending and credit teams, relationship managers, credit approvers, etc.
  • Interpersonal skills: They require the ability to develop and maintain internal and external relationships within their portfolio
  • Research skills: They require the ability to conduct research into borrowers and industries to be abreast with factors that may affect profitability and the borrower’s ability to repay loans.

    Job Types: Full-time, Regular / Permanent

    Pay: ₹500,000.00 - ₹600,000.00 per year

    Benefits:
  • Cell phone reimbursement
  • Food allowance
  • Health insurance
  • Leave encashment
  • Life insurance
  • Provident Fund
    Schedule:
  • Day shift

    Education:
  • Bachelor's work: 1 year (Preferred)

    • Example 6

    Manager/AM Credit Analysis (Wholesale Credit)
    Location: Mumbai
    We are looking for Credit Analyst with Wholesale Credit underwriting experience.
    Candidate will oversee and be part of Credit & Risk management of NBFC/MFI/Fintech
    Monitor portfolio of NBFCs/SMEs and closely track concern accounts.
    In depth knowledge of credit evaluation with a good eye for detail. Ability to understand impact of changing environment on various companies.

    Desired Candidate:CA/CFA/MBA with strong experience of underwriting wholesale loans to be given to NBFC / MFI / Fintechs/SMEs.

    Job Types: Full-time, Regular / Permanent

    Salary: ₹261,418.00 - ₹1,260,711.00 per year

    Schedule:
  • Day shift
  • Morning shift
    Supplemental Pay:
  • Performance bonus

    Ability to commute/relocate:
  • Mumbai, Maharashtra: Reliably commute or planning to relocate before starting work Credit Analysis: 2 years (Required)

    • Underwriter job summary

    A good job description starts with an attention-grabbing summary of the position and its role within your company. Your summary should provide an overview of your company and expectations for the position. Outline the types of activities and responsibilities required for the job so job seekers can determine if they are qualified, or if the job is suitable for them.

    Example of an Underwriter job summary

    Our hard money lending operation needs an experienced Underwriter to join our staff. We pride ourselves on the depth of research we conduct prior to approving any application. Since we specialize in hard money real estate loans, the ideal applicant will have experience in real estate transactions, including flipping and the use of rental properties. Our team considers the potential profit on an investment more than the borrower’s credit history, but we’re looking for an Underwriter who takes a holistic approach to his or her job. We offer a competitive salary as well as excellent benefits and generous Paid time-off.

    Underwriter responsibilities and duties

    The responsibilities and duties section is the most important part of the job description. Here you should outline the functions this position will perform on a regular basis, how the job functions within the organization and the title of the manager the person will report to.

    • Perform data evaluation on information retrieved from hard money loan applications
    • Consult with Loan Officers following meetings with potential clients
    • Investigate real estate properties in question and make assessment about investment ROI
    • Research project costs for remodeling and renovating properties listed on loan applications
    • Conduct risk assessments on potential clients based on previous borrowing history, credit rating, industry experience and other factors
    • Request additional information from Loan Officers when appropriate
    • Render application decisions based on consultations with supervisory underwriter and upper management
    • Prepare reports detailing risk assessment findings and other data that contribute to lending decisions

    Underwriter qualifications and skills

    Next, outline the required and preferred skills for your position. This may include education, previous job experience, certifications and technical skills. You may also include soft skills and personality traits that you expect from a successful candidate. While it may be tempting to include a long list of skills and requirements, including too many could dissuade qualified candidates from applying. Keep your list of qualifications concise, but provide enough detail with relevant keywords and terms.

    • Diploma required (College degree preferred)
    • Current underwriter certification
    • Excellent typing and 10-key skills
    • Superior organizational and time management skills
    • Experience with real estate transactions and evaluations
    • Knowledge of regulatory issues in both underwriting/finance and real estate
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    Job Description Examples

    Need help writing a job description for a specific role? Use these job description examples to create your next great job posting. Or if you’re ready to hire, post your job on Indeed.

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