Underwriting Manager manages daily operations of the underwriting process. Implements underwriting strategy and operational policies for product lines. Being an Underwriting Manager oversees the review and approval process for decisions and recommendations related to complex cases. Defines and establishes procedures for risk criteria, application and renewal, and acceptance and rejection. Additionally, Underwriting Manager develops underwriting team expertise with coaching, support and educational programs. Requires a bachelor's degree. 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. (Copyright 2024 Salary.com)
Position can be at a higher level commensurate with experience
Knowledge, Skills and Abilities
Education: Bachelor's Degree or professional level of knowledge in a specialized field, or equivalent, related experience.
Experience: 2 - 4 years - or Associates Degree equivalent plus 4 - 6 years.
Knowledge: General knowledge of industry practices, standards, and concepts within field of work. Applies them to perform work requiring analytical business skills.
Decision Making: Makes decisions related to a wide variety of situations within management limits. Interprets guidelines and procedures, applying judgment and discretion. Decisions influence portions of a project, client relationships and/or expenditures.
Supervision Received: Works independently under general supervision. Work is reviewed for overall adequacy in performing tasks.
Leadership: May provide training and guidance to less experienced staff.
Problem Solving /Operations/Direct Work Involvement: Applies knowledge to determine solutions to complex problems with minimal direction. Uses research and analysis to develop innovative and practical solutions which are consistent with organizational objectives.
Client Contacts: Contacts other departments and or external organizations or parties frequently. Contacts are primarily at or below middle management levels. Communication is primarily task-related and involves creating and delivering varied types of messages and information.
Additional Knowledge, Skills and Abilities
Minimum three (3) years experience in property and casualty insurance underwriting or similar discipline is required. Participation in insurance or business related courses, such as CPCU. Must be familiar with the functionality of software products designed to capture, manipulate and present pertinent data such as Microsoft Excel and Microsoft Word. Additional knowledge of database query tools such as Microsoft Access, SAS and other SQL based products is a plus.
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