Underwriting plays a critical role in organisations typically but not exclusively engaged in financial services. Most positions are in lending and insurance operations. Insurance roles cover everything from general insurance to life and health insurance, as well as reinsurance. Positions in finance can deal with mortgages, personal lending, corporate funding and counterparty credit, to name just a few
Entry-level roles in underwriting may consist largely of administrative processing of mortgage applications or insurance claims against an established scoring system and with the assistance of initial underwriting systems. Invariably, the role requires an underwriter capable of delivering fair and balanced decisions in a timely manner
Successful career progress is contingent on the consistent delivery of reliable and efficient decisions using a minimum level of evidence, working to service level agreements and within established limits. The ability to resolve queries and refer cases to superiors only when strictly necessary is highly valued. Personal communication skills and numerical and basic IT literacy are pre-requisites. Accounting or actuarial qualifications may be required
Entry-level and assistant positions will generally offer salaries of £15,000 -£20,000. Those with solid experience and in-depth knowledge of a particular industry can expect £25,000 - £35,000. Senior/managerial roles offer £45,000 -£55,000.