Skills & Competencies for Chief Underwriting Officer

Chief Underwriting Officer job profile

Book a Demo and Receive a Sample Job Profile

JOB SUMMARY for Chief Underwriting Officer

Leads and directs the overall underwriting strategy, operations, and policy development across product lines.

JOB RESPONSIBILITIES for Chief Underwriting Officer

Ensures profitability, growth, and efficiencies that align with the organization’s goals and objectives. Establishes financial control guidelines, tools, administrative standards, and best practices. Researches competitors and market conditions to develop and maintain risk selection criteria and methods that support sound risk management.

Chief Underwriting Officer SALARY RANGE

BASE 50%
$308,630
TOTAL 50%
$407,731
Job Level
M06
Job Code
EX05000064
Education/Degree
Bachelor's Degree
Reports To
Top Management

Chief Underwriting Officer Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Chief Underwriting Officer skill and competencie below to view definitions.
INDUSTRY COMPETENCIES CORE COMPETENCIES
BOOK A DEMO

9 hard skills or competencies (industry competencies) for Chief Underwriting Officer

1 Industry Competency – Insurance Industry
Proficiency Level -4
Skill definition-Applying knowledge of the insurance industry to provide risk management services and protection to various individuals from financial loss.
Level 1 Behaviors
(General Familiarity)
Explains how reinsurance aids in meeting the long-term debts and financial obligations of a business.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Locates resources to acquire updates regarding market shifts and regulatory changes in insurance.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Prepares insurance plans based on client needs to minimize financial risk or losses during uncertain events.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Monitors industry changes to improve the strategic directions of insurance operations.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Develops strategic methods for selling insurance policies to increase the profit of our organization.
See 4 More Skill Behaviors
2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -4
Skill definition-Creating, executing, and adhering to state and federal laws governing insurance operations to ensure financial security and consumer protection.
Level 1 Behaviors
(General Familiarity)
Describes the importance of compliance programs in maintaining an insurance legal and regulatory environment.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Documents compliance complaints to track and escalate possible legal violations and ensure prompt resolution.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Executes market conduct exams to verify the adherence of insurance operations to laws and regulations.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Reviews root causes of regulatory deficiencies to create corrective action plans and ensure adherence.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Develops an insurance regulatory framework to promote consumers' protection and achieve policy objectives.
See 4 More Skill Behaviors
3 Chief Underwriting Officer - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Chief Underwriting Officer
Proficiency Level - 4
5 Competency for - Chief Underwriting Officer
Proficiency Level - 5

10 soft skills or competencies (core competencies) for Chief Underwriting Officer

1 Core Competencies – Budgeting
Proficiency Level -4
Skill definition-Applying specific policies, tools and practices to plan and prepare projected revenues, expenses, cash flows, and capital expenditures.
Level 1 Behaviors
(General Familiarity)
Explains the different purposes and uses of our organization's budgets.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Gathers financial data to help support management in budgeting analysis and forecasting.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Prepares and reviews the annual budgeting process to ensure effective and efficient budgeting.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Monitors budgeting processes to ensure adherence to our organization's financial practices and standards.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Establishes operating procedures to guide the consistency and repeatability of our budgeting processes.
See 4 More Skill Behaviors
2 Core Competencies – Risk Management
Proficiency Level -5
Skill definition-The identification, evaluation, and prioritization of various risks, followed by controlling practices to minimize any adverse impact.
Level 1 Behaviors
(General Familiarity)
Illustrates the necessity and benefits of active risk management.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Compiles and maintains risk management documents to reflect the latest policies.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Escalates significant risks to the appropriate management to address issues.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Creates and updates standard operating procedures (SOP) to improve risk management efficiency and effectiveness.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Constructs risk management metrics to monitor, evaluate, and improve effectiveness.
See 4 More Skill Behaviors
3 Chief Underwriting Officer - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Chief Underwriting Officer
Proficiency Level - 4
5 Competency for - Chief Underwriting Officer
Proficiency Level - 5

Summary of Chief Underwriting Officer skills and competencies

There are 9 hard skills for Chief Underwriting Officer, Insurance Industry, Insurance Legal and Regulatory Environment, Insurtech, etc.
0 general skills for Chief Underwriting Officer.
10 soft skills for Chief Underwriting Officer, Budgeting, Risk Management, Planning and Organizing, etc.
While the list totals 19 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Chief Underwriting Officer, he or she needs to be skilled in Budgeting, be an expert in Risk Management, and be an expert in Planning and Organizing.

It's Easy to Get Started

Get the precision you need to assess, hire, and develop top talent with skills and competencies – see how with a personalized demo.