Underwriting Manager manages daily operations of the underwriting process. Provides credit decisions and recommendations for complex cases. Being an Underwriting Manager reviews plans and procedures regarding risk management, application and renewal, and acceptance and rejection. Requires a bachelor’s degree. Additionally, Underwriting Manager typically reports to a senior manager. The Underwriting Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. To be an Underwriting Manager typically requires 5 years experience in the related area as an individual contributor. 1 – 3 years supervisory experience may be required. Extensive knowledge of the function and department processes.
Underwriting Manager Job Description Template
Our company is looking for a Underwriting Manager to join our team.
Responsibilities:
- Develops and executes strategic initiatives that support profit, growth, retention and customer service objectives;
- C reates, analyzes and interprets data from various reports;
- Allocates underwriting authority for staff, establishing their ability to accept risks, determine pricing and coverages, and place reinsurance;
- P rovides assistance in underwriting of difficult, complex accounts and resolves issues beyond the authority level of underwriting staff;
- Provides leadership, direction and management in the risk selection process beyond the capacity of underwriting staff;
- Manages their assigned underwriting territory. Responsible for production, profitability and relationships with agents within that territory;
- Provide support to ensure accurate and timely servicing of accounts;
- Assesses agency performance and recommends the appointment or cancellation of agents within the territory;
- Collaborate with other departments to resolve issues;
- Plans regular agency contact and visits to agents;
- Determine and lead delivery of training and development based on individual and unit needs – Coaches, develops and provides feedback to associates;
- Monitor, track and analyze the effectiveness of agency partnerships to support course corrections and decision making;
- Tracks and assesses impact of large losses including making recommendations to modify underwriting guidelines/profile as needed;
- Conduct performance management duties including KPI analytics;
- Assists with the development, marketing and communication plan for agents in an assigned territory.
Requirements:
- Minimum of 5 years of management experience in a financial institution;
- Minimum 7 years’ experience in Lending Operations work with at least 5 years’ experience at the management level;
- Bachelor’s Degree in related field;
- List the knowledge, qualifications, and requirements necessary to perform the job;
- Good analytical skills;
- Strong written and verbal communication skills;
- Must have valid state-issued driver’s license in good standing;
- Proficient with Word, Excel, & Outlook;
- 7+ years commercial Underwriting experience preferred;
- College degree preferred;
- Broad underwriting technical background;
- 3-4 years experience in rating, inspections, and claims preferred.