Underwriting consultant vs underwriting manager

The differences between underwriting consultants and underwriting managers can be seen in a few details. Each job has different responsibilities and duties. Additionally, an underwriting manager has an average salary of $77,426, which is higher than the $71,693 average annual salary of an underwriting consultant.

The top three skills for an underwriting consultant include life insurance, national accounts and underwriting guidelines. The most important skills for an underwriting manager are customer service, portfolio, and risk management.

Underwriting consultant vs underwriting manager overview

	Underwriting Consultant	Underwriting Manager
Yearly salary	$71,693	$77,426
Hourly rate	$34.47	$37.22
Growth rate	-4%	17%
Number of jobs	6,804	44,546
Job satisfaction	5	-
Most common degree	Bachelor's Degree, 77%	Bachelor's Degree, 73%
Average age	44	46
Years of experience	-	8

What does an underwriting consultant do?

An underwriting consultant is an individual who provides underwriting guidelines to underwriters as well as coordinates revision of the underwriting manual. Underwriting consultants are required to handle complex cases and situations by using their strong knowledge of company services, product standards, and underwriting policies. They must use their verbal and written communication skills to guide the account management team across several business segments. Underwriting consultants must also assist with special projects and handle confidential matters assigned by the senior consultant or manager.

What does an underwriting manager do?

Underwriting managers work mostly in the financial and insurance industries to provide management for all underwriting activities, including loan applications and insurance products. They oversee a team of associate-level staff, assigning them insurance or loan plans to evaluate and underwrite, ensuring that they comprehend expectations and timelines, and provide support by answering questions. They are team leaders, leading associate-level underwriters altogether activities, supporting risk management, and financial due diligence activities. In addition, underwriting managers also play a significant role in developing and enacting policies and procedures in regional offices.

Underwriting consultant vs underwriting manager salary

Underwriting consultants and underwriting managers have different pay scales, as shown below.

	Underwriting Consultant	Underwriting Manager
Average salary	$71,693	$77,426
Salary range	Between $49,000 And $103,000	Between $50,000 And $119,000
Highest paying City	Boston, MA	San Francisco, CA
Highest paying state	Massachusetts	New York
Best paying company	CVS Health	W. R. Berkley
Best paying industry	Health Care	Insurance

Differences between underwriting consultant and underwriting manager education

There are a few differences between an underwriting consultant and an underwriting manager in terms of educational background:

	Underwriting Consultant	Underwriting Manager
Most common degree	Bachelor's Degree, 77%	Bachelor's Degree, 73%
Most common major	Business	Business
Most common college	University of Pennsylvania	Stanford University

Underwriting consultant vs underwriting manager demographics

Here are the differences between underwriting consultants' and underwriting managers' demographics:

	Underwriting Consultant	Underwriting Manager
Average age	44	46
Gender ratio	Male, 48.2% Female, 51.8%	Male, 49.5% Female, 50.5%
Race ratio	Black or African American, 9.1% Unknown, 2.5% Hispanic or Latino, 9.7% Asian, 5.7% White, 72.8% American Indian and Alaska Native, 0.4%	Black or African American, 7.9% Unknown, 4.1% Hispanic or Latino, 15.3% Asian, 7.8% White, 64.6% American Indian and Alaska Native, 0.3%
LGBT Percentage	9%	11%

Differences between underwriting consultant and underwriting manager duties and responsibilities

Underwriting consultant example responsibilities.

Risk assessment to achieve profitability on assign book of business through renewal calculations and RFP responses.
Provide evidence and assurance that the credit quality of the portfolio remains within standards establish by senior management.
Review lender appeals to determine if the documentation provide cures the deficiencies.
Direct responsibility for monitoring and auditing lending activity and loan portfolio to ensure compliance with regulations.
Review of appeals; concluding and processing the finalization; communicating the adjustments to the original underwriter for educational purposes.
Monitor performance, to include turn-times, productivity, volume, QC audits on a daily basis.

Underwriting manager example responsibilities.

Manage the company underwriting department and coordinate origination efforts within OAIC, Ocwen's REIT.
Manage the execution of underwriting, portfolio analysis and account- base decision making in accordance with establish guidelines and processes.
Review of government sponsor (FHA, VA, USDA) loans to ensure adherence to specific policies and procedures.
Reduce number of loan input errors per file with quality underwrites, in which are further approve by FNMA & FHLMC
Direct all underwriting activities in the origination of home equity loans and lines of credit.
Train all staff members on successful sales techniques to help facilitate consumer, conventional, FHA, commercial mortgage loans.

Underwriting consultant vs underwriting manager skills

Common underwriting consultant skills

Life Insurance, 16%
National Accounts, 10%
Underwriting Guidelines, 9%
Underwriting Decisions, 8%
Underwriting Process, 4%
Underwriting Policies, 4%

Common underwriting manager skills

Customer Service, 13%
Portfolio, 7%
Risk Management, 6%
Underwriting Guidelines, 6%
Financial Statements, 4%
Underwriting Process, 3%

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Underwriting Consultant
Underwriting Consultant vs Underwriting Manager

Updated January 8, 2025

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