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Title
Text copied to clipboard!Commercial Underwriter
Description
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We are looking for a meticulous and analytical Commercial Underwriter to join our team. The ideal candidate will have a strong background in finance and risk assessment, with the ability to evaluate and assess commercial loan applications and insurance policies. You will be responsible for analyzing financial statements, credit reports, and other relevant data to determine the risk associated with lending or insuring a business. Your role will involve making informed decisions that balance risk and reward, ensuring that our company remains profitable while providing valuable services to our clients. You will work closely with other departments, including sales, legal, and compliance, to ensure that all underwriting decisions are made in accordance with company policies and regulatory requirements. The successful candidate will have excellent communication skills, as you will need to explain your decisions to both internal and external stakeholders. You will also need to stay up-to-date with industry trends and changes in regulations to ensure that your underwriting practices remain current and effective. If you are a detail-oriented professional with a passion for risk management and a knack for making sound financial decisions, we would love to hear from you.
Responsibilities
Text copied to clipboard!- Evaluate and assess commercial loan applications and insurance policies.
- Analyze financial statements, credit reports, and other relevant data.
- Determine the risk associated with lending or insuring a business.
- Make informed decisions that balance risk and reward.
- Ensure underwriting decisions comply with company policies and regulatory requirements.
- Collaborate with sales, legal, and compliance departments.
- Explain underwriting decisions to internal and external stakeholders.
- Stay up-to-date with industry trends and regulatory changes.
- Prepare detailed reports on underwriting decisions.
- Review and update underwriting guidelines as necessary.
- Assist in the development of new underwriting policies and procedures.
- Provide training and support to junior underwriters.
- Participate in risk management meetings and discussions.
- Monitor the performance of underwritten accounts.
- Identify opportunities for process improvements.
- Maintain accurate records of underwriting decisions.
- Ensure timely processing of applications.
- Conduct periodic reviews of existing policies.
- Assist in the resolution of underwriting disputes.
- Support the development of risk assessment tools and models.
Requirements
Text copied to clipboard!- Bachelor's degree in finance, business, or a related field.
- Minimum of 3 years of experience in commercial underwriting.
- Strong analytical and decision-making skills.
- Excellent communication and interpersonal skills.
- Proficiency in financial analysis and risk assessment.
- Knowledge of industry regulations and compliance requirements.
- Ability to work independently and as part of a team.
- Detail-oriented with strong organizational skills.
- Proficient in Microsoft Office Suite and underwriting software.
- Ability to explain complex financial concepts to non-experts.
- Strong problem-solving skills.
- Ability to manage multiple tasks and meet deadlines.
- Experience with credit analysis and financial modeling.
- Knowledge of insurance products and services.
- Strong negotiation skills.
- Ability to stay current with industry trends and changes.
- Excellent written and verbal communication skills.
- Ability to handle confidential information with discretion.
- Strong customer service orientation.
- Professional certification in underwriting or risk management is a plus.
Potential interview questions
Text copied to clipboard!- Can you describe your experience with commercial underwriting?
- How do you approach risk assessment in your underwriting process?
- What financial analysis tools and software are you proficient in?
- Can you provide an example of a challenging underwriting decision you made?
- How do you stay current with industry trends and regulatory changes?
- Describe a time when you had to explain a complex underwriting decision to a client.
- How do you ensure compliance with company policies and regulatory requirements?
- What strategies do you use to balance risk and reward in your underwriting decisions?
- How do you handle multiple tasks and deadlines in a fast-paced environment?
- Can you discuss your experience with credit analysis and financial modeling?
- What steps do you take to maintain accurate records of underwriting decisions?
- How do you collaborate with other departments, such as sales and legal?
- Describe a time when you identified an opportunity for process improvement in underwriting.
- How do you handle underwriting disputes and resolutions?
- What training or support have you provided to junior underwriters?
- Can you discuss your experience with insurance products and services?
- How do you ensure timely processing of applications?
- What is your approach to monitoring the performance of underwritten accounts?
- How do you handle confidential information in your role?
- What professional certifications do you hold in underwriting or risk management?
