Associate Underwriter Job Description
Associate underwriter
provides underwriting support to company personnel, and customer(s), related to the issuance of real estate title insurance commitments and policies.
Associate Underwriter Duties & Responsibilities
To write an effective associate underwriter job description, begin by listing detailed duties, responsibilities and expectations. We have included associate underwriter job description templates that you can modify and use.
Sample responsibilities for this position include:
Communicates with company employees and Third Party Administrators regarding underwriting procedures an insurance policies
Learning investor guidelines and lending policies, required documentation, policies, and procedures of United Shore
Develop or modify procedures and systems where changes are needed to maintain or improve customer service needs
Performing preliminary feasibility analysis of prospective investment opportunities received from syndicators
Preparing internal preliminary approval presentations and updating data base
Preparing site visit packages for Transaction Manager and, when appropriate, participating in interviews of developers and other development team members
Analyzing the adequacy of third-party market studies and other data (e.g., appraisals, reports, ) for prospective markets
Leading independent research and analysis of demographic / socio-economic conditions of the prospective market
Analyzing proposed pro forma rents, operating budgets and, as applicable, federal and other subsidy programs (e.g., Section 8, Public Housing)
Assisting Transaction Manager and outside legal counsel with review of operating partnership agreements
Associate Underwriter Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Associate Underwriter
List any licenses or certifications required by the position: AFSB, LOMA, MI
Education for Associate Underwriter
Typically a job would require a certain level of education.
Employers hiring for the associate underwriter job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Associate Degree in Education, Business, Finance, Mathematics, Economics, Accounting, Management, General Education, Associates, Math
Skills for Associate Underwriter
Desired skills for associate underwriter include:
Regional office strategic direction and plan
Excel and Outlook
Microsoft Word
Microsoft Office Suite
Federal and State regulations related to real estate title insurance and settlement services
Financial statements and analysis
Local insurance marketplace
Organisational and regulatory rules
Procedures
Insurance industry and underwriting processes
Desired experience for associate underwriter includes:
Reviewing other project documents (e.g., loan documents, regulatory agreements, ) for conformance to acquisition guidelines and consistency with transaction modeling
Assisting Transaction Manager with review of the pricing model prepared by the Pricing Analyst
Assisting Transaction Manager with due diligence document control, including checklist management with syndicators, developers and outside legal counsel
Assisting Development Risk Manager, Pricing and Asset Management Groups as needed
Preparing Investment Summary for review by Transaction Manager and approval by Investment Committee
Participating in presentation of proposed investment to Investment Committee
Associate Underwriter Examples
1
Associate Underwriter Job Description
Job Description Example
Our company is growing rapidly and is looking for an associate underwriter. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for associate underwriter
- Underwrite complex and/or large face amount applications in an independent manner within approval authority guidelines
- Establish, promote and develop effective business relationships with distribution and sales leaders, serving as the main liaison to explain underwriting policies, strategies and programs
- Work in conjunction with the channel Chief Underwriter and the Chief Underwriting Officer to develop and administer risk selection strategy and guidelines for life insurance applications and inforce contracts
- Assist in the management of the day-to-day workflow, training and technical development of high level underwriters
- Provide training and guidance to staff members to enhance their underwriting skills
- Assist in the direction of activities related to case underwriting, including determination of insurability or limits of insurability, application approvals, denials and ratings
- Work with the channel Chief Underwriter to develop efficient underwriting, overall risk assessment and risk management processes
- Utilize quality/audit measures, cosigns and medical director feedback as a tool to improve individual and departmental performance
- Coordinate and conduct special projects as directed by the channel Chief Underwriter or Chief Underwriting Officer
- Reviews new business policies for auto, home and umbrella insurance within prescribed guidelines and letter of authority
Qualifications for associate underwriter
- Bachelor’s degree in Business or the equivalent combination of education and experience
- Demonstrated knowledge of all aspects of risk selection (medical, non-medical, financial)
- Proven technical risk selection skills to include the ability to underwrite complex and large amount life policies
- Excellent communication skills and proven ability to interact effectively with others
- Strong presentation, negotiation and facilitation skillsThought leader
- Possess a basic knowledge of commercial insurance contracts
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Associate Underwriter Job Description
Job Description Example
Our growing company is looking for an associate underwriter. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for associate underwriter
- Review historical operating data for three full calendar/fiscal years prior to date of analysis, most recent Trailing-12 months, and current year budget
- Identify and document operating statement variances and obtain corresponding explanations
- Prepare Cash Flow Presentation using CREFC chart of accounts
- Prepare Credit Underwriting based on standard industry / rating agency guidelines, specific lender required assumptions, and due diligence findings
- Reviewing project documents (e.g., loan documents, regulatory agreements, ) for conformance to acquisition guidelines and consistency with transaction modeling
- Managing the Analysts who assist the Originations Teams with site visit preparation, market and operating expense research, and Investment Summary preparation - providing training and mentoring as needed under the supervision of the Underwriting Manager
- Depending on level of knowledge & skill, may be given accounts to review/analyze and may give proposed decision recommendations to enhance the learning process
- Able to produce high volumes of work with quality results
- Ability to train new underwriters
- Underwrites Life and Disability Income applications
Qualifications for associate underwriter
- Work with various Internal Department (Distribution, Financial, Claims, Customer Service, Actuarial )
- Reviews Contestable Claims for misrepresentation
- Data Entry into Underwriting tracking system
- Reviews and evaluates non-standard applications and supporting documents
- Ability to differentiate multiple different requirements for numerous associations
- Determines if additional documentation is required and requests additional information as needed
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Associate Underwriter Job Description
Job Description Example
Our company is looking for an associate underwriter. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for associate underwriter
- Performs Quality Reviews at Third Party Administrators
- Potentially acts as back-up when Underwriting Manager out of the office
- Prepares analysis on agency book on quarter-to-quarter basis for mentor
- May perform other special projects/assignments
- Gather plan design and group information
- Deal Administration – assisting senior underwriters in underwriting and insuring corporate transactions (warranties and indemnities, taxation liability, litigation buyout and special situation contingent risks)
- Strategy Implementation – Implementing agreed strategies with management for growing the business
- Relationship Management – Assist in the development of commercially successful relationships with M&A production and distribution sources – with a focus on brokers, law firms, investment banks, accountants, and private equity funds
- Reviews insurance applications and other risk documentation
- Ability to travel to inspect properties attend industry meetings, conferences
Qualifications for associate underwriter
- Understanding of financial documents, tax returns
- Ability to work in a paperless workflow environment
- Solid job knowledge, 0-3 years’ experience, solid business knowledge
- BS/BA degree with focus in finance, marketing or economics
- At least 1 year of Commercial underwriting experience or 1 years of Business Banking Underwriting experience or 1 year of Accounting Experience
- A Master’s in Business Administration or a Master’s in Accounting
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Associate Underwriter Job Description
Job Description Example
Our innovative and growing company is looking for an associate underwriter. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for associate underwriter
- Performs the structuring, credit analysis, and underwriting of commercial loan requests
- Directs workflow, and reviews and guides the team’s work, to ensure quality and achievement of targeted goals
- Analyzes, prepares and presents the terms and structures of all proposed commercial transactions, including but not limited to loan covenants, funding covenants, loan structure, loan terms, and conditions of extensions
- Makes recommendations and/or decisions regarding the extension of credit based on the investigation and analysis of credit
- Monitors customer accounts and loan portfolios in order to maximize credit quality and minimize risk and potential loss
- Prepares and presents credit reports to committees for use in the making of lending decisions on new, renewal and extension loans and assists with credit presentations to include financial statement spreads, covenant testing, collateral analysis, obligor/facility ratings, cash flow analysis, relationship exposure, underwriting and new and additional credit proposals
- Monitors the performance of existing credit facilities for financial and reporting covenant compliance
- Ensures borrowers and guarantors are notified of missing reports and non-compliance with terms of their Agreement
- Responsible for the early identification of problem loans and advises Portfolio Managers, Business Bankers and Credit Administration on appropriate actions
- Proactively evaluates performance, historical trends, projections, capital structure, and global cash flow of the loan/guarantor on a deal by deal basis
Qualifications for associate underwriter
- 2-5 years work experience encouraged
- Must be able to learn different computer programs and software applications
- Must be able to work as a member of a team independently
- Must have the ability to work independently to solicit and produce new business and seek new business opportunities
- High energy self-starter, who is resilient and has an entrepreneurial spirit
- Solid time, organizational, and desk management skills are a must
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Associate Underwriter Job Description
Job Description Example
Our company is growing rapidly and is looking for an associate underwriter. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for associate underwriter
- Responsible for the preparation of basic and/or preliminary analysis on the Company and its Guarantors
- Performs thorough analysis of combined Debt-Service Coverage Ratio (DSCR) for underwriting of borrowers and guarantors
- Reviews borrower formation documents for appropriate borrower signing authority, ensures the requisite formation documents for different business entities (C-Corp, limited partnerships, general partnerships, trusts, ) are present and accurate
- Performs a thorough review of loan file documentation for consistency and accuracy relative to the approved credit narratives and compliance with the Bank’s credit guidelines, and engages the Borrower, Commercial Loan Operations, and outside legal counsel, as needed
- Builds financial models, completes audit verifications sent by clients’ accountants, and follows up with Loan Servicing, as needed
- Adheres to and complies with the applicable, federal and state laws, regulations and guidance, including those related to anti-money laundering
- Contributing to the running of the accounts
- Communicates with agents to obtain information needed to underwrite risks and address issues
- Provides information to Rating and to Processing that is needed to issue policies and endorsements on a timely basis
- Applies rules and guidelines, insurance laws and regulations
Qualifications for associate underwriter
- Life/health insurance experience required
- Must type over 40 wpm and have a good knowledge of Microsoft Outlook, Excel and Word
- Successful completion or active pursuit of FLMI preferred
- 3+ years of related insurance experience
- Functional knowledge of property insurance product offerings
- High comfort level using Microsoft Access & Excel