Underwriting Associate Job Description
Underwriting associate
provides technical rating and policy issuance for routine to moderately complex transactions in support of underwriting.
Underwriting Associate Duties & Responsibilities
To write an effective underwriting associate job description, begin by listing detailed duties, responsibilities and expectations. We have included underwriting associate job description templates that you can modify and use.
Sample responsibilities for this position include:
Review all pertinent credit information to determine if additional business and personal information including specified documents are required for processing
Performing in a high volume processing center, responding to agent inquiries, risk eligibility, underwriting policies and procedures
Processing and issuing mid-term premium and non-premium bearing endorsement transactions
Support Primary Lead Processing and any additional administrative tasks to ensure success and completion
Works well with other managers on integrated strategies, workflows and system development efforts that maximize organizational effectiveness
Performs field research of prospective investments through in-depth research of local market conditions, population and employment trends, and competitive product analysis through on-site interviews of market participants
Analyze customer operations and finances in order to determine creditworthiness in accordance with underwriting guidelines
Ensure accurate collection of customer financial information
Participate in transaction due diligence, underwriting and credit approval
Possess good understanding of procedures and concepts within own discipline and basic knowledge of these elements in other disciplines
Underwriting Associate Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Underwriting Associate
List any licenses or certifications required by the position: LOMA, AFSB
Education for Underwriting Associate
Typically a job would require a certain level of education.
Employers hiring for the underwriting associate job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Associate Degree in Management, Financial Services, Finance, Associates, Business, Economics, Accounting, Education, Law, Engineering
Skills for Underwriting Associate
Desired skills for underwriting associate include:
Processing
Rating and policy issuance systems
General economic and accounting principles
Arithmetic and algebra
Principles and processes for providing customer service
Algebra
Arithmetic
Math calculations
Business correspondence and the proper workflow path of each item
Ability to leverage that information in creating customized customer solutions
Desired experience for underwriting associate includes:
Experience in performing site inspections and evaluations, determining market rents and competitive advantages of multi-family properties or a background in commercial real estate loan underwriting or commercial loan workout experience preferred
Possess basic understanding of how own area integrates within the sub-function
Bachelor’s Degree with at least 3 years of experience in finance or banking industry with exposure to large commercial transaction underwriting
Bachelor’s Degree in Accounting, Finance, or Business Administration - MBA Degree - Energy industry experience - Familiarity evaluating legal documentation - Understanding of various products and structures, including loans, leases, partnerships, and equity investments - Skilled communicator who is able to exchange complex information - Excellent written, oral, and interpersonal skills
Assist senior underwriters on new transactions by completing credit and collateral analysis
Transactions are all to be in line with the appropriate policies and guidelines
Underwriting Associate Examples
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Underwriting Associate Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of underwriting associate. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for underwriting associate
- Assist with ensuring the approved ETR is in line with the actual transaction at closing and if it is not, assist with the preparation of closing ETRs to ensure any changes to the transaction are documented and approved Risk Management and the business (as required)
- Assist senior underwriters with documentation negotiation which can include loan agreements, intercreditor agreements, landlord waivers, cash management documents, etc
- Assist with ongoing contact with the client to ensure that expectations are met
- Assist with completion of Know Your Client / Anti Money Laundering documents and requirements
- Help with the transitioning of new clients to the relevant Portfolio Manager and Portfolio Analyst
- Assist Business Development Officer’s (BDOs) with prospect assessment by reviewing financial information, collateral and business cases
- Assist BDOs by scheduling deal committees and assist with preparing prospect reviews and term sheets
- Track and maintain various databases and reports such as deal pipelines, market updates, structure/pricing precedents, etc
- Assist with the preparation of ABL pitches and internal product/market updates
- Formulate solutions or alternative strategies to achieve client goals
Qualifications for underwriting associate
- Maintain ownership of any NBAC decisions
- Collaborate closely with Sales to formulate strategy, well positioned offering
- Represent Underwriting with new or changing organizational services that may impact service offerings (Managed Advice, fund options)
- Ensures compliance with established underwriting guidelines, policy and procedures federal regulations
- Manage the inflow of all escalations for customer requested lines greater than $100k considering business and customer level exposure
- Conduct extensive phone interviews gathering detailed business model and expected card usage data
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Underwriting Associate Job Description
Job Description Example
Our company is hiring for an underwriting associate. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for underwriting associate
- Understand the business model, complete a guard rail template that evaluates internal risk guardrails and apply that to the final decision
- Prepares clear, concise written summary of analysis supporting a respective decision for small business line increases to include any deviations from the small business loan policy, procedures and guidelines
- Identify and mitigate key credit risks and decision to appropriate structures in order to reduce credit risk
- Maintain satisfactory level of portfolio delinquencies and charge-offs while meeting expectations of purchase volume
- Day to Day underwriting
- Handling Sales queries on underwriting
- Coordinating with Operations for closure of proposals
- Customer Communication for New Proposals
- Computes rates and premiums for policies, compiles appropriate declarations, coverage forms, national/local forms, and optional endorsements to complete a policy
- Works on assigned lines of business
Qualifications for underwriting associate
- At least 1 year of Commercial/Small Business underwriting experience
- 2+ years of Commercial/Small Business underwriting experience
- Vacation time may be limited during peak periods to ensure adequate coverage is maintained
- Depending on volumes, overtime may be required
- Medical Graduate Any Stream (MBBS preferred)
- Insurance Qualification/Certifications an added advantage
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Underwriting Associate Job Description
Job Description Example
Our company is looking for an underwriting associate. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for underwriting associate
- Initial review/analysis for new business submissions and renewals
- Producing binders for the Underwriters to present to our brokers
- Researching and answering inquiries from internal and external customers
- Requesting and retrieving Loss Control requests
- Retrieving loss runs
- Utilizing industry websites to obtain submission financials
- Meeting departmental Service Standards in place for each process
- Completes application analysis and file preparation of commercial or contract new business, or performs the completion of bond, policy, and related forms using a data base application
- Read, organize, and work with detailed source documents from internal and external customers following procedures to determine appropriate next steps
- Modify, update, and process changes including updating tools, systems, and documents as needed
Qualifications for underwriting associate
- Bachelor’s degree in any insurance related discipline , insurance/finance/math/engineering/international studies/geology
- Attendance is essential for this position
- A minimum of four years of relevant experience in commercial insurance products
- Strong competency in Microsoft Office applications (Excel, Word and Outlook)
- Ability to adapt to a fast-paced, high production environment
- Occasional travel (20%) may be required to attend meetings, seminars, and programs to learn about new processes and guidelines, learn new skills, and stay updated with the underwriting team supported
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Underwriting Associate Job Description
Job Description Example
Our growing company is hiring for an underwriting associate. 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 associate
- Follow established performance standards and metrics applicable to the business unit supported
- Conduct preliminary deal analysis and prepare applicable account data
- If applicable, prepare documents for issuance and review for customer approval
- Works on the Casualty line of business
- Maintain monthly activity log and clears accounts for underwriters' review
- Compute rates and premiums for policies, compiles appropriate declarations, coverage forms, national/local forms, and optional endorsements to complete a policy
- Work on the Casualty line of business
- Provide services such as investigation of the borrowing entity, analysis of the proposed structure and the various repayment sources industry/economic factors affecting the request
- Prepares underwriting/pricing models (i.e., exposures, experience rating, profit and loss analysis, updated account information)
- Assessing when it is necessary and performing quality control of coding and issuance output to ensure accuracy of work
Qualifications for underwriting associate
- A Bachelor’s Degree is a plus, but not a requirement for this position
- Entry level - Any relevant experience a plus
- Knowledge and understanding of business supported a plus
- Proficient with Microsoft Office (PowerPoint, Excel, Word) preferred
- Position requires experience for business from Latin America
- Duties and responsibilities directly impact productivity, process efficiency, timeliness, profitability, and accuracy of the business process
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Underwriting Associate Job Description
Job Description Example
Our innovative and growing company is hiring for an underwriting associate. 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 associate
- Creating and producing accurate experience reports and/or evaluations, assisting with quarterly projections of policy earnings for designated accounts, reviewing final year end accounting
- Running various monitoring reports to ensure team is meeting key metrics
- Development & distribution of reports to management
- Maintaining updated records and case files
- Timely & accurate data entry to internal systems
- Run routine manual premium rate calculations utilizing rating tools
- May also assist with the evaluation and assignment of incoming Life and Disability proposals for the Premier and National Market segments during peak periods of activity
- Provide support on various ad-hoc projects
- Responsible for accurate and timely reviewing and issuing of new business applications
- Terminates policies
Qualifications for underwriting associate
- Review the unknown list and search for matching applications using name and date of birth
- Act as first point of main contact for missing medical requirements and follow up directly with service providers for resolution
- Position will require involvement in work allocation, knowledge sharing, and issue resolution
- Insurance and Reinsurance knowledge preferred
- Minimum 1 year relevant experience in P&C
- Knowledge and understanding of the business unit supported is preferred