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Underwriter Job Description Template

Job Description Template

Underwriter Job Description Template

August 15, 2022

Underwriter Job Description Template

Don’t let the open position in your business stay open much longer. Let us contribute to your hiring process and help you find and recruit a perfect new employee! Take our FREE Underwriter Job Description Template and transform it into an eye-catching job offer!

This template contains all the important information about this job position, but you can easily customize it if you have any specific criteria or requirements.

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What is an Underwriter?

Underwriters are financial professionals who work in the banking industry and various insurance companies.

They are responsible for determining whether a client qualifies for a loan or an insurance policy.

They evaluate and review clients’ credit history, assets, income statements, and criminal records before deciding whether to approve or decline the application.

Underwriters also perform risk assessments and determine which applications could bring a high risk of financial losses.

Related Job Titles for Underwriter

The Top Underwriter Skills

Skill Why it's important
Analytical Skills Strong analytical skills are a must for Underwriters. During any part of their work, they need to concentrate and dig deep into documents, records, files, and applications in order to perform necessary analytical operations and eventually make the right decision.
Attention to Detail Underwriters’ job requires exquisite attention to detail. They deal with multiple resources for just one case, and their ability to spot and note important details is crucial. Reading, writing, or noting wrong information or numbers can lead Underwriters to make a mistake regarding any element of their work.
Ethics Any financial position requires a strong sense of ethics. Underwrites must be firm and confident when declining applications that do not meet the requirements. They need to learn how to stand their ground and fight the pressure. Also, Underwriters must follow the rules and be compliant with laws, guidelines, and regulations.
Organization Underwriters typically manage and work on multiple applications and requests at the same time. They should establish their own organizational system that will help them prioritize and keep track of their tasks and pales of documents. Underwriters who are unable to stay organized usually seem inconsistent and unprofessional.
Computer and Math Skills Underwriters use math skills and various calculations when performing risk assessments and other important operations necessary for their work. They also use computers to create and maintain reports, review documents, and input data and information. Working knowledge of specific software, word processing programs, and spreadsheets is essential for Underwriters.

Underwriter Job Description Template (Free)

Our company is looking for a qualified and analytical Underwriter to join our team. Our new team member should be an expert in risk assessment. In this position, you will be responsible for collecting and reviewing loan applications and insurance proposals and determining if they are eligible. You will approve or reject applications and requests after the previous meticulous risk analysis and assessment of clients’ background information.

In order to be successful as an Underwriter, you need to possess a strong work ethic and a thorough understanding of legal guidelines, regulations, and laws regarding the industry.

Furthermore, our ideal candidate should have amazing analytical, organization, computer, math, and communication skills, as well as attention to detail.

Underwriter Duties & Responsibilities:

  • Collect, review, and verify loan applications and insurance policies
  • Define the terms, conditions, and details of the insurance coverage
  • Identify and report signs of fraudulent activities
  • Determine loan eligibility
  • Approve or reject applications and proposals
  • Thoroughly assess and analyze clients’ background information
  • Calculate and determine the risk levels associated with clients’ requests and applications
  • Assist in determining premium costs
  • Finalize approved loans and policies by applying specific terms and conditions agreed upon by the client
  • Evaluate policies according to the company’s underwriting standards
  • Ensure adherence with all legal guidelines, laws, and regulations

Underwriter Requirements:

  • Bachelor’s degree in finance, economics, statistics, business, or a related field
  • Prior working experience as an Underwriter or a similar role
  • Valid certification from AU or CLU
  • Strong knowledge of underwriting processes, loan products, and insurance coverage
  • Strong computer and math skills
  • Analytical mind and detail-oriented
  • Organization skills and the ability to meet tight deadlines
  • Strong work ethic

Accounting Specialist Interview Questrions

Sample Interview Questions for an Underwriter

Once you gather up all the received applications, you can use these sample interview questions for Underwriter. These can help you narrow your choices and pick the most suitable candidate for the job.

  1. Could you describe your childhood in a few sentences?
  2. Is being an Underwriter your dream job?
  3. What makes you happy?
Human Resources
  1. Why did you apply to this company in particular?
  2. Could you briefly tell us about your previous working experience in the industry?
  3. What was your major in college?
  1. How do you stay concentrated when doing repetitive work?
  2. Has your ethics ever been tested in the workplace?
  3. How do you ensure meeting important deadlines?
Technical Skills and Knowledge
  1. How do you ensure complete accuracy when working with large collections of data and information?
  2. What two things would make you reject the loan application immediately?
  3. What do you do if you suspect insurance fraud?

What are the Educational Requirements for an Underwriter?

Educational requirements for Underwriters include at least a Bachelor’s degree in finance, economics, mathematics, business, or a related field.

Some companies and employers require a certification from institutions like Associate in Commercial Underwriting (AU) or Chartered Life Underwriter certification (CLU).

How Much to Pay an Underwriter when Hiring

Underwriters usually earn between $23,000 and $92,500 annually.

Their median annual salary is around $60,163.

Hourly wages go from $11 to $44.

The median hourly pay is around $29.

Percentile 10% 25% 50%
75% 90%
Hourly Wage $11 $17 $29 $34 $44
Annual Wage $23,000 $35,500 $60,163 $70,000 $92,500

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Frequently Asked Questions about Position


What are several types of Underwriters?

Underwriters can be

What is the difference between an Underwriter and an Actuary?

Both Underwriters and Actuaries deal with risk assessment.

However, Underwriters handle and process individual applications and requests and make personalized decisions on whether to approve or reject.

On the other hand, Actuaries research and review general business liabilities and risks and make recommendations on how to lower risk factors.

What are the educational requirements for Underwriters?

Underwriters must obtain a Bachelor’s degree in economics, finance, mathematics, business, or a similar field.

How much do Underwriters earn annually?

Underwriters typically earn between $23,000 and $92,500 per year.

Similar Job Descriptions as Underwriter

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