Main Responsibilities and Required Skills for Underwriting Manager
An Underwriting Manager is responsible for supervising the underwriting operations. They verify and analyze all necessary financial information and documentation and provide guidance. In this blog post we describe the primary responsibilities and the most in-demand hard and soft skills for Underwriting Managers.
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Main Responsibilities of Underwriting Manager
The following list describes the typical responsibilities of an Underwriting Manager:
Adhere to
Adhere to company procedures and documentation management standards.
Administer
Administer underwriting guidelines and regulations.
Advise
Advise Underwriting staff when a final decision is difficult or marginal.
Analyze
Analyze data and / or creates unique solutions.
Analyze information to determine risk involved in lending money for mortgage loans.
Anticipate
Anticipate and adjusts for problems and roadblocks.
Approve
Approve files that are exceptions to the guidelines or in excess of supervisors' approval authority.
Assess
Assess and assist with staffing / resources.
Assist in / Assist with
Assist Finance & accounting department with receivables.
Assist in developing and growing a working pipeline of new business.
Assist in managing underwriting relationships with the insurers.
Assist in the budgeting process at a monthly, quarterly and annual basis.
Assist in the review of the annual operating budget to confirm consistency with property strategies.
Assist staff with any appraisal issues.
Assist with special assignments as needed.
Assist with the process of attracting, selecting, and developing high caliber talent.
Assure
Assure proper execution of regulatory / legislative practices for Product Management.
Attend
Attend client / broker functions when required.
Attend client / broker meetings, presentations and relevant industry events on behalf of the company.
Attract
Attract and hire high performing employees.
Automate
Automate and improve underwriting processes to maximize efficiency.
Balance
Balance and enhance local broker relationships, leveraging the strength of Private Client Group.
Break
Break down work into the process steps.
Build
Build and develop the real estate underwriting team.
Coach
Coach a team of Underwriting Analysts throughout the underwriting process.
Collaborate with
Collaborate with leaders of other departments to resolve complex issues.
Compile
Compile month-end data for distribution to and decision-making by management.
Complete
Complete annual performance objective planning for direct reports and teams.
Complete other related duties as assigned.
Complete yearly performance reviews of direct reports.
Conduct
Conduct agency visits which requires car travel of 10-15%.
Conduct price monitoring, risk selection and data quality performance reviews.
Conduct the product implementation and regular review.
Coordinate
Coordinate efforts with International Financial Lines CoPs.
Create
Create a productive department through written and verbal communications.
Create, coordinate and participate in underwriting training.
Delegate
Delegate underwriting authority in accordance with CUO framework.
Deliver
Deliver monthly, quarterly reporting in accordance to the RMUP and regulatory requirement.
Develop
Develop and improve team productivity and performance.
Develop and maintain effective relationships with internal and external customers.
Develop and maintain local cyber partnerships in line with our partnership strategy.
Develop and maintain strong personal and professional relationships with clients.
Develop and manage assigned underwriters and employees in accordance with agreed upon objectives.
Develop and modify organizational structure to support a growing business.
Develop, implements, and monitors appropriate levels and types of reinsurance as needed.
Develop key client and broker relationships and attracts new business in the large accounts area.
Develop schedules and task / people assignments.
Direct
Direct relationships with clients where appropriate.
Drive
Drive a culture that promotes collaboration, innovation, diversity and inclusion.
Drive collaborative behaviour with leadership team across the wider business.
Drive consistent, sound technical underwriting.
Embed
Embed adherence to regulatory and compliance processes.
Ensure
Ensure adherence to all control framework requirements.
Ensure adherence to audit requirements.
Ensure adherence with all reporting requirements.
Ensure audit recommendations are met within agreed timelines.
Ensure business written within the profit centre is in line Insurance risk policy.
Ensure team and Regional service level goals are met and maintained.
Ensure that appraisal and title insurance is provided by an approved vendor.
Ensure that appropriate underwriting guardrails are in place for the business.
Ensure that business written adheres to risk appetite guidelines.
Ensure that loan files contain all necessary credit and legal documents.
Ensure that underwriting information is maintained accurately in underwriting systems.
Establish
Establish and maintain strong broker and client relationships across the portfolio.
Establish strong relationships with Regional leadership.
Execute
Execute cyber strategies in coordination with the global Cyber Product Team.
Forge
Forge new business relationships and solicit new business opportunities.
Foster
Foster an environment conducive to continuous improvement.
Foster a positive culture and create positive work experiences.
Handle
Handle referrals to regional office as appropriate.
Handle referrals within stated authority.
Help
Help develop suite of products and manage trading with all distribution channels.
Help to complete an annual business plan for those Schemes within the role.
Help to monitor Scheme performance and ensure insurers and strategy are sound.
Identify
Identify, address and manage performance related issues.
Identify and find ways to reduce underwriting leakage.
Identify areas of improvement for internal workflow efficiency.
Identify risk-related issues needing escalation to management.
Identify trends in operations and provide guidance and support to the business to resolve trends.
Implement
Implement governance strategies.
Implement renewal rate and exposure, retention, and rate adequacy guidelines.
Keep
Keep abreast of market changes and trends.
Keep in mind the description of characteristics and experience should be related to the job at hand.
Lead
Lead a culture of underwriting excellence.
Lead and develop a team of underwriting professionals.
Lead and encourage a high performing culture of service and teamwork.
Lead
Lead Health underwriting team and implement people plan.
Lead new applicant technical interviews for proposed high-rise condominium projects.
Learn
Learn and maintain a working knowledge of all crops / plans serviced by CRS.
Maintain
Maintain a balance between must-have and good-to-have requirements.
Manage
Manage a dedicated underwriting team.
Manage all expenses within budget.
Manage and supervise the Regional Underwriting Centers.
Manage annual new business objective of approximately.
Manage a team of professionals (includes people, budget and planning).
Manage department workload and capacity.
Manage, develop and retain a growing and diverse workforce.
Manage estimates and reporting processes and prepare ad hoc financial and management reports.
Manage, mentor and coach Underwriters in technical and professional skills.
Manage new and existing account underwriting workflows.
Manage succession planning to develop & retain talent and build bench strength.
Manage the hiring, development, retention, reward, and motivation of staff in the unit / region.
Manage the portfolio in profitable and sustainable growth, closely following claims activity trends.
Manage the reinsurance arrangement and operations of PA business.
Manage, train, and develop regional underwriting staff.
Manage UQR Peer Review process.
Manage workflow of medium complexity and risk exposure and acts largely independently.
Measure
Measure performance against goals.
Mentor
Mentor and train staff through effective leadership, role modelling and training programs.
Mentor staff and provide appropriate support for career goals and professional growth via.
Monitor
Monitor financial performance against strategic objectives and financial metrics.
Monitor, manage and report on Service Level Agreement to key stakeholders.
Monitor monthly team conversion and retention.
Monitor staff production on an on-going basis to ensure standards are being met.
Monitor the mortgage portfolio, loan arrears and identify trends and risk profile.
Negotiate
Negotiate contract terms with brokers and clients.
Negotiate effectively on customer calls.
Negotiate terms and conditions with clients and brokers.
Operate
Operate as an European contact point for key brokers.
Operate within letter of authority for referral underwriting.
Operate within the Financial Institutions best practices and underwriting guidelines.
Orchestrate
Orchestrate multiple activities at once to accomplish a goal.
Oversee
Oversee / underwrite new and renewal books of business.
Participate in
Participate and ensure quality control process along with internal and carrier audits.
Participate in audits as required.
Participate in problem resolution between brokers and underwriting staff.
Participate in relationship and account stewardship activities.
Participate in special underwriting projects as required.
Participate in strategic and tactical planning.
Perform
Perform well in team environments.
Plan
Plan and conduct underwriting training to producing underwriting teams to improve team UW techniques.
Plan, manage, and evaluate work of underwriters.
Plan team resource and structure to ensure it achieves target.
Present
Present and execute the distribution plans to assigned brokers.
Prioritize
Prioritize and manage initiatives for Property, Liability, and Inland Marine lines of business.
Produce
Produce accurate and timely information for senior management.
Produce files for Self-Audits to the agreed standards.
Produce new business by working with your broker network to source new opportunities.
Promote
Promote an environment that supports diversity.
Promote a team culture of collaboration, inclusivity and learning.
Provide
Provide audit support during annual audits and examinations.
Provide day to day guidance to key stakeholders on Underwriting issues.
Provide direction and guidance to Underwriting staff for documentation and underwriting quality.
Provide guidance to General Agents and provides technical guidance and expertise to underwriters.
Provide leadership and advice to division staff in regard to underwriting risks.
Provide strategic direction for new business / new product development.
Provide superior customer service to brokers and clients.
Provide training based on post-closing or audit findings.
Provide training to team to improve underwriting quality.
Recommend
Recommend and implement changes to improve workflow, productivity, growth, profitability and quality.
Recruit
Recruit and develop staff.
Represent
Represent AIG at client and broker functions without supervision as necessary / appropriate.
Represent AIG on industry bodies and professional associations and organizations.
Represent Financial Institutions at pipeline meetings both internally and externally.
Resolve
Resolve disputed transactions in a timely and cost-effective manner.
Review
Review, analyze and underwrite new and renewal business within underwriting authority.
Review and approve Analyst risk assessments and proposed terms and conditions.
Review and Approve Exceptions.
Review and extract information from broker marketing books and third-party research.
Review and underwrites mortgage files to underwriting guidelines.
Review underwriting decision, reasoning, and conditions.
Schedule
Schedule weekly meetings to review new programs or changes and discuss issues from the previous week.
Schedule weekly meeting to review new programs or changes and discuss issues from previous week.
Seek
Seek opportunities to improve synergies and lead cross-sell initiatives with other profit center's.
Set
Set clear expectations around underwriting guidelines and ensure rating and pricing adequacy.
Set employee objectives and manage performance to achieve business goals.
Set performance goals; and conduct performance reviews.
Set objectives and goals.
Solve
Solve for root cause problems and provide a resolution path.
Strengthen
Strengthen and build resources and expertise as needed.
Supervise
Supervise the underwriting operations while providing guidance to a team of Underwriters.
Support
Support marketing and communications in delivering AIG´s Cyber value proposition.
Support the completion of peer file reviews and audits.
Take
Take full responsibility for making decisions and consequences associated with decisions.
Track
Track record of managing demanding clients and achieving production and profitability objectives.
Train
Train / coach less experienced team members.
Travel
Travel to meet with brokers and underwriting team as needed.
Understand
Understand, adopt and promote cyber underwriting model usage and sharing with clients.
Understand and adhere to service standards in accordance with company guidelines.
Understand how to separate and combine tasks into efficient work flow.
Understand loss trends, loss triangles, and ratemaking.
Understand regulatory and compliance processes.
Underwrite
Underwrite and analyze new business and renewal submissions for Financial Institutions.
Underwrite and conduct post-mortem reviews on complex files.
Underwrite and service risks to an acceptable standard within the authority delegated to you.
Underwrite new and renewal property business coming from appointed wholesale Surplus Lines Brokers.
Underwrite and analyze new and renewal business within delegated underwriting framework.
Use
Use resources effectively and efficiently.
Validate
Validate accuracy and compliance of policy output and other communications to brokers and customers.
Verify
Verify and analyze all necessary financial information and documentation.
Work with
Work closely with Actuarial team to assist with data collection, data accuracy and profit studies.
Work closely with the National Credit Policy Manager to manage staffing and other department issues.
Work closely with the Regional Underwriting Manager to manage staffing and other department issues.
Work cross functionally with other underwriting teams to achieve corporate objectives.
Work with agency partners for production and profitability.
Work with all major brokers to create a system of strategic pipelining.
Work with cyber risk advisors on the on-boarding process and client engagement.
Work with external business partners - development of strategic partnerships.
Work with HR to ensure that staff development plans are in place with feedback and follow-up.
Work within agreed decision making standards, limitations and authorities.
Work with our distribution partners to achieve positive outcomes in both new business and renewals.
Work with our Head of Underwriting to manage team priorities and achieve team goals.
Work with Program Managers to strengthen and grow designated programs.
Work with RE Lending Management to establish and implement new policies and procedures as necessary.
Most In-demand Hard Skills
The following list describes the most required technical skills of an Underwriting Manager:
Acquisition
Credit
Distribution
Insurance
Lending
Real Estate
Analysis
AVM
BA
Banking
BBA
BPO
C&I
Commercial Banking
Commercial Lending
Executive Management
Finance Knowledge
Property Appraisals
Small Business Lending
Structuring
Title Reports
Understand and Analyze Purchase Contracts
Business
Most In-demand Soft Skills
The following list describes the most required soft skills of an Underwriting Manager:
Written and oral communication skills
Analytical ability
Interpersonal skills
Problem-solving attitude
Leadership
Influencing
Negotiation
Assertive attitude
Effectively lead and manage a team
Listener
Make sound credit decisions
Presentation
Judgment
Organizational capacity
Results-oriented
Balance the needs of multiple stakeholders
Making sound decisions
Take ownership for key outcomes
Business savvy
Strategic leadership
