An Entry-Level Underwriting Assistant earns an average salary of AU$55,595 per year.
|Salary||AU$43,531 - AU$64,931|
|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$43,628 - AU$65,243|
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.Read More...
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. (Copyright 2018 PayScale.com)
Underwriting Assistant Tasks
- Assist underwriting agents in their duties.
- Assist in the development and monitoring of premium rates.
- Assist business development of new business opportunities with sales and marketing efforts.
- Assist in the evaluation and monitoring of loss potential/control from catastrophic events.
- Enter, review and maintain accurate records of new policies and renewals.
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