underwriter.

Some of the duties and responsibilities of underwriters include:

• reviewing applications: as an underwriter, you analyse and evaluate applications for financial services. You gather the information showing the level of risks to determine whether to approve or decline the loan applications. After reviewing an application, you approve it or decide if you need more information.
• calculating risk: as an underwriter, you collect statistical data to highlight the level of risks. If a borrower or a client applies for insurance coverage, you evaluate the level of risk presented by the insurance policy. You use the information and statistical formulas to determine the level of risk.
• researching to evaluate an application: when evaluating an application, you conduct additional research. For instance, you evaluate the driving experience of a car owner before awarding insurance coverage or check if the applicant is employed full-time before approving a loan. The research helps you weigh the risks associated with offering the financial product to the client.
• determining the available coverage: as an underwriter, you help the insurance company determine the coverage they can offer clients. You evaluate the risks associated with the policy and determine the premiums to be paid. You also dictate the terms attached to the policy and the conditions your company is willing to fulfil by accepting the risk.
• reviewing existing client portfolios: as an underwriter, your job is to ensure that the mortgage lender can afford to offer the loan and that the insurance company covers the risk insured.
• counselling clients on risk management solutions: as an underwriter, you assist businesses in making sound investment decisions. You negotiate terms and contracts for selling or buying equities and securities.

• counselling clients on risk management solutions: as an underwriter, you assist businesses in making sound investment decisions. You negotiate terms and contracts for selling or buying equities and securities.

Underwriters typically work in an office setting. The role involves sitting for extended periods. You spend most of the day analysing data on a computer. You also interact with insurance agents, either in person or over the phone. You only travel when attending business events or meetings. As an underwriter, you are likely to work with insurance agencies, credit unions, banks and investment companies.

Depending on your employer and the industry you work in, your colleagues might include financial accountants, financial advisors, finance managers and financial analysts. You might also be working in close proximity to insurance brokers and credit officers. Other specialists you work with could include, but not be limited to, lending managers, accountants and data analysts.

The typical work schedule of an underwriter is 35 to 40 hours in a full-time position. You work standard business hours, from 9 am to 5 pm. Occasionally, you work evenings and weekends to meet deadlines or attend important client meetings. Some underwriters only work part-time or have work-from-home arrangements, enabling them to review applications remotely.

You have numerous opportunities for career growth as an underwriter. You can pursue other careers, like becoming an insurance broker or agent. Some underwriters become actuaries, while others become financial advisors or financial analysts. With experience and qualifications, you can join managerial positions in the company.

Finding your underwriter job through Randstad provides essential benefits such as:

• a wide variety of training and development opportunities
• an experienced contact person to provide help if needed
• a range of opportunities in your area
• get paid weekly or monthly, depending on the job
• temporary and permanent contracts

Want a permanent contract? A temporary job as an underwriter is often a stepping stone to an attractive permanent job. Thousands of people earn a permanent contract every year with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too.

As an underwriter, you determine whether a lender should offer a loan to the borrower. You also decide if the insurance company can provide insurance coverage. When a client makes a mortgage application, you evaluate the risks presented and decide whether to offer them the loan or reject the application.

As an underwriter, your typical salary is $88,000 per year. When you are new in the role, your starting salary is $80,000 annually. With experience and additional qualifications, you are likely to earn over $95,000 yearly. The remuneration package depends on your company and the insurance or loan products you deal with.

To become an underwriter, relevant educational qualifications are an absolute necessity. A Certificate IV in general insurance is a solid foundation to begin with. If you're keen on pursuing further education, acquiring a bachelor's degree in business with a specific focus on financial risk management is highly recommended. It's important to note that some industries may consider equivalent experience in the financial, banking, or insurance sectors.

As an insurance underwriter, your role is to assess and analyse the risks associated with insuring individuals and property. This includes determining appropriate rates for insurable risks and assisting the insurance provider in determining which claims to pay out to clients.

To effectively offer loans and insurance products, you must possess outstanding analytical skills for risk evaluation, as well as strong communication skills for negotiating contracts and agreements with stakeholders.

Applying for an underwriter job job is easy: create a Randstad profile and search our job offers for vacancies in your area. Then send us your CV and cover letter. Need help with your application? Check out all our job search tips here.