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Become A Senior Underwriter

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Working As A Senior Underwriter

  • Getting Information
  • Establishing and Maintaining Interpersonal Relationships
  • Making Decisions and Solving Problems
  • Interacting With Computers
  • Processing Information
  • Mostly Sitting

  • Make Decisions

  • Repetitive

  • $90,000

    Average Salary

What Does A Senior Underwriter Do

A Senior Underwriter analyzes new loan applications to determine whether an applicant should be administered a loan. They generally work in the insurance and lending industries.

How To Become A Senior Underwriter

Most loan officers need a bachelor’s degree and receive on-the-job training. Mortgage loan officers must be licensed.

Education

Loan officers typically need a bachelor’s degree, usually in a field such as business or finance. Because commercial loan officers analyze the finances of businesses applying for credit, they need to understand general business accounting, including how to read financial statements.  

Some loan officers may be able to enter the occupation without a bachelor’s degree if they have related work experience, such as experience in sales, customer service, or banking. 

Training

Once hired, loan officers usually receive some on-the-job training. This may be a combination of formal, company-sponsored training and informal training during the first few months on the job.

Licenses, Certifications, and Registrations

Mortgage loan officers must have a Mortgage Loan Originator (MLO) license. To become licensed, they must complete at least 20 hours of coursework, pass an exam, and submit to background and credit checks. Licenses must be renewed annually, and individual states may have additional requirements.

Several banking associations, including the American Bankers Association and the Mortgage Bankers Association, as well as a number of schools, offer courses, training programs, or certifications for loan officers. Although not required, certification shows dedication and expertise and thus may enhance a candidate’s employment opportunities. 

Important Qualities

Decisionmaking skills. Loan officers must assess an applicant’s financial information and decide whether to award the applicant a loan. 

Detail oriented. Each piece of information on an application can have a major effect on the profitability of a loan, meaning that loan officers must pay attention to detail.

Initiative. Loan officers need to seek out new clients. They often act as salespeople, promoting their lending institution and contacting firms to determine their need for a loan.

Interpersonal skills. Because loan officers work with people, they must be able to guide customers through the application process and answer their questions.

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Senior Underwriter jobs

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Real Senior Underwriter Salaries

Job Title Company Location Start Date Salary
Senior Treaty Underwriter Swiss Reinsurance America Corporation Armonk, NY Sep 09, 2010 $195,000
Senior Underwriter Berkley Insurance Company Mount Laurel, NJ Sep 16, 2016 $175,000 -
$200,000
Senior Underwriter Contingency & Crime Westport Insurance Corporation Miami, FL Jan 04, 2016 $160,000 -
$165,000
Senior Underwriter Catlin, Inc. Miami, FL Dec 30, 2013 $160,000 -
$180,000
Vice President, Senior Underwriter Swiss Re America Holding Corporation Miami, FL Apr 10, 2015 $155,000 -
$165,000
Senior Underwriter Engineering Swiss Re America Holding Corporation Miami, FL Oct 02, 2016 $152,000 -
$155,000
Senior Underwriter Treaty Insurance Catlin Insurance Company Miami, FL Oct 01, 2012 $150,000
Vice President, Senior Underwriter Property Energy Swiss Re America Holding Corporation Miami, FL Mar 10, 2012 $150,000
Senior Mergers and Acquisitions Underwriter National Union Fire Insurance Company of Pittsburgh, Pa. New York, NY Aug 22, 2016 $140,000
Senior Underwriter Property Westport Insurance Corporation Miami, FL Apr 27, 2016 $140,000 -
$145,000
Senior Underwriter Engineering Swiss Reinsurance America Corporation Armonk, NY Oct 01, 2010 $140,000
Senior Underwriter-Property Facultative XL Reinsurance America Inc. Hartford, CT Oct 31, 2013 $125,000
Senior Underwriter (Property) Westport Insurance Corporation Philadelphia, PA Aug 26, 2013 $120,000 -
$170,000
Senior Underwriter General Reinsurance Corp. New York, NY Sep 09, 2011 $118,375
Senior Underwriter General Reinsurance Corporation New York, NY Sep 08, 2014 $118,000
Senior Underwriter Equine XL Specialty Insurance Company New York, NY Nov 01, 2014 $116,355 -
$223,918
Senior Underwriter National Union Fire Insurance Company of Pittsburgh, Pa. New York, NY Apr 01, 2016 $115,000
Senior Underwriter General Reinsurance Corp. New York, NY Jan 09, 2011 $107,625
Senior Underwriter Contingency & Crime Westport Insurance Corporation Miami, FL Jul 15, 2015 $105,165 -
$170,000
Senior Underwriter Catlin, Inc. Miami, FL Jun 01, 2016 $105,000 -
$175,000
Senior Underwriter Equine XL Specialty Insurance Company New York, NY Nov 01, 2011 $100,672 -
$173,001
Senior Underwriter-Property Facultative XL Global Services, Inc. Boston, MA Oct 02, 2016 $91,042 -
$145,692
Senior Underwriter for International Casualty Zurich American Insurance Company New York, NY Oct 01, 2011 $90,000
Senior Credit Risk Underwriter Unicredit Bank AG New York, NY Aug 11, 2011 $85,613 -
$110,000
Senior Underwriter Berkley Insurance Company Mount Laurel, NJ Aug 25, 2016 $85,008
Senior Underwriter Berkley Insurance Company Mount Laurel, NJ Jun 16, 2016 $85,008
Senior Underwriter Professional Indemnity Agency, Inc. Mount Kisco, NY Jan 11, 2015 $85,000
Senior Underwriter Professional Indemnity Agency, Inc. Mount Kisco, NY Jan 10, 2014 $85,000
Senior Underwriter Ace American Insurance Company Chicago, IL Feb 04, 2013 $84,000

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Top Skills for A Senior Underwriter

LoanProductsEnsureComplianceIncomeDocumentationFha/VaDesktopUnderwriterFannieMAEAppraisalReviewFreddieMacBusinessTaxReturnsCreditReportsLossRatioLoanFilesCustomerServiceUnderwritingProcessJumboLoansPortfolioInvestorGuidelinesUnderwritingGuidelinesAuditLoanOfficers

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Top Senior Underwriter Skills

  1. Loan Products
  2. Ensure Compliance
  3. Income Documentation
You can check out examples of real life uses of top skills on resumes here:
  • Underwrite credit packages, analyzed tax returns and profit and loss statements, reviewed appraisals for conventional loan products.
  • Analyzed and monitored activities to ensure compliance based on underwriting requirements at the time of origination.
  • Trained to find fraudulent information within income documentation as well as recognizing current fraudulent trends within the market.
  • Trained processors on FHA/VA and Conventional underwriting, corporate and investor guidelines for submission to Wholesale Lenders.
  • Run appropriate A.U.S./Automated Underwriting Systems, like D.U./Desktop Underwriter and L.P. Loan Prospector.

Top Senior Underwriter Employers

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