Job Role Description

Mortgage and Lending > Senior Underwriter

Salary National Average

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68000.0000 81670.0000 101860.0000

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Short Description:

A Senior Underwriter is responsible for evaluating and assessing the risk of insuring potential clients, ensuring that policies are aligned with company guidelines and industry regulations. They review applications, financial documents, and other relevant information to determine coverage terms and premium rates. In addition to underwriting complex cases, the Senior Underwriter provides guidance to junior underwriters and collaborates with sales and claims teams to ensure efficient processing. They also identify and recommend improvements to underwriting processes, aiming to optimize efficiency and reduce risk for the organization.

Duties / Responsibilities:

  • Decrease policy's value when risk is substandard and specify applicable endorsements or apply a rating to ensure safe, profitable distribution of risks, using reference materials.
  • Decline excessive risks.
  • Write to field representatives, medical personnel, and others to obtain further information, quote rates, or explain company underwriting policies.
  • Review company records to determine the amount of insurance in force on a single risk or group of closely related risks.
  • Examine documents to determine the degree of risk from such factors as the applicant's financial standing and the value and condition of the property.
  • Authorize reinsurance of policy when risk is high.
  • Evaluate the possibility of losses due to catastrophe or excessive insurance.

Skills / Requirements / Qualifications

  • Active Listening: Giving full attention to what other people are saying, taking time to understand the points made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Judgment and Decision Making: Considering the costs and benefits of potential actions to choose the most appropriate one.
  • Reading Comprehension: Understanding written sentences and paragraphs in work-related documents.
  • Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
  • Speaking: Talking to others to convey information effectively.
  • Writing: Communicating effectively in writing as appropriate for the audience's needs.
  • Complex Problem Solving: Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Time Management: Managing one's own time and the time of others.
  • Social Perceptiveness: Being aware of others' reactions and understanding why they react as they do.
  • Active Learning: Understand new information implications for current and future problem-solving and decision-making.

Job Zones

  • Education: Most of these occupations require a four-year bachelor's degree, but some do not.
  • Related Experience: A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. Job Training: Employees in these occupations usually need several years of work-related experience, on-the-job training, or vocational training.
  • Job Zone Examples: Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, sales managers, database administrators, teachers, chemists, environmental engineers, criminal investigators, and special agents.
  • Specific Vocational Preparation in years: 2-4 years preparation (7.0 to < 8.0)

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