Senior Underwriter Salary (Australia)
A Senior Underwriter earns an average salary of AU$104,832 per year. The skills that increase pay for this job the most are Financial Analysis and Insurance.
|Salary||AU$67,464 - AU$158,196|
|Bonus||AU$1,939 - AU$24,958|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|AU$68,226 - AU$173,451|
Job Description for Senior Underwriter
Senior underwriters analyze new loan applications to determine whether an applicant should be administered a loan. They may analyze the ability to pay, credit score, and how much is being requested, and the submitted information should be verified during this process. It's also important to determine whether the application fulfills certain parameters of various loans.Read More...
Additional information should occasionally be requested from the applicant, and all risks must be analyzed to determine the likelihood of such risks coming to realization. Therefore, strong knowledge of different types of loans, requirements, and laws relating to underwriting is required, and it's also important to keep up with changes in underwriting standards and regulations that apply. When loan requirements are not met, the loan must be declined.
Senior underwriters may also prepare details for applicants regarding what steps should be taken to qualify for a loan, or what alternatives are available. Although they do not usually work directly with customers, they do work with several inside and outside parties, such as appraisers, title companies, mortgage officers, and real estate agents, so strong communication skills are highly beneficial in this position, though much of the work is done independently. A bachelor's degree in accounting, finance, business administration, or a related field may be a minimum requirement for this position, and significant work experience is also required. (Copyright 2018 PayScale.com)
Senior Underwriter Tasks
- Assess eligibility of clients' applications to receive capital, insurance, mortgage, or credit.
- Evaluate collateral and ensure portfolio credit quality.
- Structure products to meet clients' needs.
Senior Underwriter Job Listings
Pay by Experience Level for Senior Underwriter
Pay by Experience for a Senior Underwriter has a positive trend. An entry-level Senior Underwriter with less than 5 years of experience can expect to earn an average total compensation of AU$100,000 based on 13 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Senior Underwriter with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of AU$115,000 based on 28 salaries. An experienced Senior Underwriter which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of AU$130,000 based on 38 salaries. A Senior Underwriter with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of AU$125,000 based on 15 salaries.
Pay Difference by Location
Senior Underwriter Reviews
Related Job Salaries
Key Stats for Senior Underwriter
Rated 5 out of 5
based on 3 votes.