How to hire an underwriting manager

How to hire an underwriting manager, step by step

Here's a step-by-step underwriting manager hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write an underwriting manager job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new underwriting manager
• Step 8: Go through the hiring process checklist

What does an underwriting manager do?

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1. Identify your hiring needs

   The underwriting manager hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   An underwriting manager's background is also an important factor in determining whether they'll be a good fit for the position. For example, underwriting managers from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

   Here's a comparison of underwriting manager salaries for various roles:

   Type of Underwriting Manager	Description	Hourly rate
   Underwriting Manager	Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.	$24-57
   Cash Manager	A cash manager is responsible for monitoring cash flow, analyzing financial transactions, and allocating adequate budget and resources for every department's operations. Cash managers conduct data and statistical analysis to determine the company's expenses and financial loss and strategize techniques in minimizing those risks... Show more	$31-62
   Tax Manager	A Tax Manager is responsible for managing tax reporting and compliance within an organization. They provide innovative tax planning and prepare state and federal tax returns for companies.	$33-62

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Customer Service
   • Portfolio
   • Risk Management
   • Underwriting Guidelines
   • Financial Statements
   • Underwriting Process
   • Performance Management
   • Credit Policy
   • Profitable Growth
   • Underwriting Decisions
   • Commercial Property
   • Loss Ratio
   • Direct Reports
   • Strong Analytical

   Check all skills

   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.

   More underwriting manager duties

3. Make a budget

   Including a salary range in your underwriting manager job description is one of the best ways to attract top talent. An underwriting manager can vary based on:

   • Location. For example, underwriting managers' average salary in hawaii is 52% less than in new york.
   • Seniority. Entry-level underwriting managers 58% less than senior-level underwriting managers.
   • Certifications. An underwriting manager with certifications usually earns a higher salary.
   • Company. Working for an established firm or a new start-up company can make a big difference in an underwriting manager's salary.

   Average underwriting manager salary

   $77,426yearly

   $37.22 hourly rate

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   Entry-level underwriting manager salary

   $50,000 yearly salary

   Updated December 12, 2025

   Average underwriting manager salary by state

   Rank	State	Avg. salary	Hourly rate
   1	California	$99,138	$48
   2	New York	$98,405	$47
   3	Virginia	$98,070	$47
   4	Massachusetts	$93,337	$45
   5	Illinois	$91,687	$44
   6	Connecticut	$91,367	$44
   7	New Jersey	$90,806	$44
   8	District of Columbia	$90,549	$44
   9	Michigan	$87,381	$42
   10	Maryland	$87,313	$42
   11	Pennsylvania	$84,631	$41
   12	Washington	$83,070	$40
   13	North Carolina	$78,879	$38
   14	Colorado	$77,172	$37
   15	Arizona	$74,191	$36
   16	Minnesota	$73,635	$35
   17	Oregon	$71,482	$34
   18	Texas	$71,310	$34
   19	Georgia	$70,187	$34
   20	Nebraska	$64,843	$31

   Average underwriting manager salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	W. R. Berkley	$111,571	$53.64	64
   2	Guidestone Financial Resources	$111,447	$53.58	2
   3	CVS Health	$109,735	$52.76	35
   4	AIG	$106,988	$51.44	86
   5	Nuveen Investments	$105,028	$50.49
   6	Aetna	$102,635	$49.34
   7	XL America Inc	$100,090	$48.12
   8	Legal & General Investment Management America	$99,259	$47.72
   9	BERKLEY TECHNOLOGY SERVICES	$96,923	$46.60	130
   10	American Family Insurance	$94,666	$45.51
   11	Teachers Insurance & Annuity Association of America	$94,123	$45.25	1
   12	Swiss Reinsurance America Corporation	$91,504	$43.99	4
   13	CopperPoint Insurance Companies	$91,210	$43.85	6
   14	The Hanover Insurance Group	$90,862	$43.68	26
   15	Zurich	$90,765	$43.64	111
   16	American Express	$90,631	$43.57	71
   17	Century Communities	$90,628	$43.57	1
   18	Great American Insurance	$90,513	$43.52	52
   19	The Travelers Companies	$90,262	$43.40	42
   20	PMA Companies	$90,049	$43.29	3

4. Writing an underwriting manager job description

   An underwriting manager job description should include a summary of the role, required skills, and a list of responsibilities. It's also good to include a salary range and the first name of the hiring manager. Below, you can find an example of an underwriting manager job description:

   Underwriting manager job description example

   How would you like to join one of the most highly regarded community-focused financial institutions in the Tri-State area? Provident Bank is a high-performing, $14 billion company that continues to expand with branches in New Jersey, Eastern Pennsylvania and New York. Our longevity is a testament to our commitment to placing our employees, customers, and the communities we serve at the center of all we do. Apply today and discover what our commitment to enhancing our employee and customer experience is all about.
   
   Under general direction from the Commercial Credit Underwriting Director, this position plays a critical role in the commercial credit underwriting process and is responsible for oversight of the various underwriting activities, inclusive but not limited to assignment to work, work in progress management, reviewing and making necessary recommendations to all underwriting documents, risk rating recommendations, and review of loan policy compliance. The Team Leader is responsible for conducting the highest of quality review and analysis of financial and qualitative risk factors of each loan presentation, of both new and existing customers. Ensures timely turnaround of deals assigned to Credit Analysts by proper scheduling of assignments and balancing workload. Collaborates and works cooperatively with the various members of the Commercial Bank and management to ensure service level agreements and customer expectations are met in a timely fashion. Proven attention to detail with C&I underwriting expertise, requiring minimal supervision or guidance from the Commercial Credit Underwriting Director on a daily basis. Provides mentorship and training to all levels of Credit Analysts (Level I - IV) to promote growth from within. Additional responsibilities include but are not limited to: assisting with vendor management, preparation of quarterly WIP report, periodic reviews for policy and compliance management purposes, etc. Responsible for the performance reviews for the regional analysts and goal setting and monitoring. Periodically meets with the Commercial Credit Underwriting Director and Commercial Bank management to review workflow management and escalation of any concerns regarding financial performance or deal structure. Participation in leadership meetings with representation from Credit Underwriting and Commercial Lending to ensure consistent communication across lines of business.
   
   * Review underwriting packages for the regional credit analysts to ensure accuracy in loan analysis, proper risk rating, and adherence to loan policy.
   
   * Responsible for managing day-to-day credit activities as it pertains to the regional Commercial Lending Department workflow for the Commercial Credit Underwriting Department. Including interaction with Department Heads and leadership of the Commercial Bank on a regular basis.
   
   * Consistently reviews workflow and analysis product for efficiency and effectiveness when needed, will perform annual reviews of staff and handle warnings and any other disciplinary actions needed for the regional credit analysts.
   
   * Acts as a mentor to the underwriting team and train less experienced CRE analysts. Participate in special projects as assigned in additional to various vendor management responsibilities.
   * May be required to assist or underwrite complex credits from time to time as needed SUPERVISORY RESPONSIBILITIES Supervises the team of regional Credit Analysts. This includes interviewing, training and managing employees; planning, assigning and directing work; and addressing and resolving employee complaints and concerns. SKILLS AND TRAINING Strong commercial credit underwriting and risk analysis skills. Strong analytical skills with ability to identify and mitigate risks. Comprehensive knowledge of commercial loan deal structures. Strong communication skills necessary to effectively interact with management, department heads and relationship managers and effectively assist in mentoring staff. Proficient in Commercial & Industrial underwriting and lending including spreads, debt service coverage, and both business and personal cash flow; general knowledge of Commercial Real Estate Underwriting for owner occupied and investment purposes. Ability to conduct meetings, effectively present information and respond to questions from peers, auditors and various levels of management. Excellent managerial skills as well as the ability to exercise judgment and resourcefulness in resolving employee questions and issues. Excellent computer skills, including strong knowledge of and the ability to practically apply modern office software. Ability to prioritize multiple projects. EDUCATION Bachelor's degree in Accounting, Finance or Business Administration. MBA preferred WORK EXPERIENCE * Minimum 10 years in banking or financial services industry with 5+ years directly in Credit. * Prior lending and approval authority a plus * Formal Credit Training preferred * Management Experience required LICENSES AND/OR CERTIFICATES Licenses and Certifications Expiration Date None required WORKING CONDITIONS Work is performed in a normal office environment. Noise levels are usually moderate. HAZARDS The hazards are mainly those present in a normal office setting. This job description may not be all-inclusive. Employees are expected to perform other duties as assigned and directed by management. Job descriptions and duties may be modified when deemed appropriate by management. Featured benefits * Medical/Dental/Vision Insurance * Flexible Savings Account * 401(k) * Tuition Disbursement and Reimbursement * College Loan Pay Down Program * and other great benefits Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.

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5. Post your job

   To find the right underwriting manager for your business, consider trying out a few different recruiting strategies:

   • Consider internal talent. One of the most important sources of talent for any company is its existing workforce.
   • Ask for referrals. Reach out to friends, family members, and current employees and ask if they know or have worked with underwriting managers they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit underwriting managers who meet your education requirements.
   • Social media platforms. LinkedIn, Facebook and Twitter now have more than 3.5 billion users, and you can use social media to reach potential job candidates.

   Post your job online:

   • Post your underwriting manager job on Zippia to find and recruit underwriting manager candidates who meet your exact specifications.
   • Use field-specific websites.
   • Post a job on free websites.

6. Interview candidates

   Recruiting underwriting managers requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.

   Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new underwriting manager

   Once you've found the underwriting manager candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.

   It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.

   To prepare for the new employee's start date, you can create an onboarding schedule and complete any necessary paperwork, such as employee action forms and onboarding documents like I-9 forms, benefits enrollment, and federal and state tax forms. Human Resources should also ensure that a new employee file is created.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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