How To Become An Underwriting Manager: What It Is and Career Path

What is an underwriting manager and how to become one

Updated January 8, 2025

4 min read

Quoted expert

Robert Hoyt, Ph.D.

Underwriting managers work primarily in the financial service and insurance industries, providing management and oversight for underwriting activities that include loan applications and insurance products. They provide support and approval for team members on standard underwriting projects and may conduct research, analysis, and underwriting for special or complex applications.

The duties and responsibilities of an underwriting manager are leading the underwriting teams, assessing financial risks, and reporting to upper management regarding team performance and specific issues that may arise. Moreover, they develop and implement procedures and conduct quality control. Essential skills required include personnel management, financial analysis, reviewing loads and insurance policies, and communication. Educational requirements include at least a bachelor's degree in a related field such as actuarial science, business administration, finance, or a related discipline. A master's degree may help applicants gain advantage over other candidates.

The average hourly salary for this position is $58.61, which amounts to $121,907 annually. In addition, the career is expected to grow 16% in the following years to come and produce over 104,000 jobs across the United States.

What's a day at work look like for an underwriting manager?

Robert Hoyt, Ph.D.

Department Head and Dudley L. Moore Jr. Chair of Insurance, University of Georgia

They are training for it now. Due to pandemic restrictions, they are taking classes in a hybrid environment with less face-to-face class time integrated with virtual interaction. Some of their classmates are restricted to their home countries and are joining virtually throughout the class. Group work in our courses is always important, but now they are having to working in teams through virtual platforms. This is how business will be done and it will be increasingly global given the convenience of engaging virtually without the cost of travel. In my opinion, the future work environment in insurance is going to look a lot like how we are educating students currently. However, thankfully, without the masks and with more opportunities for face-to-face socializing with clients and colleagues. As I note in more detail below, I think geographic limits will be much less important going forward due to the ability to be effective through virtual platforms and much more flexibility around where and when we work with be the norm.

ScoreUnderwriting ManagerUS Average

Salary

6.0

Avg. Salary $77,426

Avg. Salary $59,228

Stability level

9.5

Growth rate 17%

Growth rate 0.3%

Diversity

3.5

Race

American Indian and Alaska Native 0.34%

Asian 7.79%

Black or African American 7.90%

Hispanic or Latino 15.26%

Unknown 4.12%

White 64.59%

Gender

female 50.51%

male 49.49%

Age - 46

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 46

Stress level

9.5

Stress level is very high

7.1 - high

Complexity level

9.2

Complexity level is advanced

7 - challenging

Work life balance

4.9

Work life balance is fair

6.4 - fair

Key steps to become an underwriting manager

Explore underwriting manager education requirements

Most common underwriting manager degrees

Bachelor's

72.8 %

Associate

11.0 %

Master's

9.2 %

Start to develop specific underwriting manager skills

Skills	Percentages
Customer Service	13.26%
Portfolio	6.98%
Risk Management	6.47%
Underwriting Guidelines	6.27%
Financial Statements	3.64%

Complete relevant underwriting manager training and internships

Accountants spend an average of 1-3 months on post-employment, on-the-job training. New underwriting managers learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as an underwriting manager based on U.S. Bureau of Labor Statistics data and data from real underwriting manager resumes.

Research underwriting manager duties and 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

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