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Underwriting Assistant Average Salary

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Job Description for Underwriting Assistant

The assistant underwriter assists the lead underwriter in assessing customers' eligibility for products such as mortgages, insurance, and credit. They may work in a variety of fields, such as bank underwriting, insurance underwriting, and real estate underwriting. In all fields, assistant underwriters must cultivate good relationships with clients and be able to obtain client information quickly and accurately. They must be able to accurately assess risks while remaining within their organization's regulations and relevant laws. Assistant underwriters typically work as a subordinate to an underwriter and work in an office environment during regular business hours, although travel may occasionally be required for risk assessment.

Employers typically prefer at least five years of relevant experience for this position; many also prefer knowledge of the particular type of underwriting performed at the hiring organization. An associate's degree in economics, finance, or a related field is generally required, with a bachelor's degree preferred. Management and/or financial software experience is a plus, but is usually not required. Assistant underwriters should have extensive knowledge in the financial and credit industries, as well as regulations and laws related to banking, investment, and insurance. Additionally, they must be well organized, pay close attention to detail, skilled at multitasking, and efficient.

Underwriting Assistant Tasks
  • Assist in the evaluation and monitoring of loss potential/control from catastrophic events.
  • Enter, review and maintain accurate records of new policies and renewals.
  • Assist business development of new business opportunities with sales and marketing efforts.
  • Assist underwriting agents in their duties.
  • Assist in the development and monitoring of premium rates.

Key Stats

1-4 years
67%
5-9 years
33%

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