Underwriters work for banks and other financial institutions. They assess the risk factor in accepting applicants for different services such as loans, mortgages, equity, insurance and capital. They review an applicant's credit history, age, financial situation and other factors to determine if the applicant would be a risk. If they are deemed a risk, applicants are determined by the underwriter to either be declined services or pay a premium interest rate. Underwriters' primary duty is to protect the financial institution for whom they work from losing money.
Manage underwriting territory and select new business based on analysis of their profitability.
Analyze new and renewal business, data, claim history, loss experience, and outcome of liability decisions.
Underwrite, submit, approve or pend loans, and present decisions to management.
Monitor existing policies for compliance with company guidelines.