Skills & Competencies for Underwriting Manager

Underwriting Manager job profile

Book a Demo and Receive a Sample Job Profile

JOB SUMMARY for Underwriting Manager

Manages daily operations of the underwriting process.

JOB RESPONSIBILITIES for Underwriting Manager

Implements underwriting strategy and operational policies for product lines. Oversees the review and approval process for decisions and recommendations related to complex cases. Defines and establishes procedures for risk criteria, application and renewal, and acceptance and rejection. Develops underwriting team expertise with coaching, support and educational programs.

Underwriting Manager SALARY RANGE

BASE 50%
$131,631
TOTAL 50%
$150,122
Job Level
M02
Job Code
FA06000469
Education/Degree
Bachelor's Degree
Reports To
Senior Manager

Underwriting Manager 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 Underwriting Manager skill and competencie below to view definitions.
INDUSTRY COMPETENCIES CORE COMPETENCIES
BOOK A DEMO

8 hard skills or competencies (industry competencies) for Underwriting Manager

1 Industry Competency – Insurance Industry
Proficiency Level -3
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)
Cites different types of insurance policies and describes the advantages and disadvantages of each.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Compiles insurance quotes based on customer information and rates for insurance policies.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Applies risk management techniques to minimize financial impacts in insurance services.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Contributes to the development of insurance risk mitigation strategies to drive process improvements.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Builds claim roadmaps and substantiation plans in compliance with insurance risk management practices.
See 4 More Skill Behaviors
2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -3
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)
Cites examples of the legal principles of insurance applicable to multiple types of insurance products.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Assists in assessing regulatory risks to ensure insurance operations meet compliance and regulatory obligations.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Adopts legal and regulatory initiatives to assess possible risks and maintain insurance solvency.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Directs the regulation of insurance products to ensure insurance policy provisions comply with state laws.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Builds policy and regulatory tools to monitor and assess compliance levels with insurance laws and regulations.
See 4 More Skill Behaviors
3 Underwriting Manager - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriting Manager
Proficiency Level - 4
5 Competency for - Underwriting Manager
Proficiency Level - 5

13 soft skills or competencies (core competencies) for Underwriting Manager

1 Core Competencies – Business Process Improvement
Proficiency Level -3
Skill definition-Proactively defining, analyzing, and streamlining existing business processes within an organization to meet new quotas or standards of quality.
Level 1 Behaviors
(General Familiarity)
Cites basic business process improvement techniques and processes.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Assists in preparing flow charts to visualize each step in the new workflow.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Consults in the identification and resolution of process issues.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Defines the best ways to align our new processes with the desired outcomes.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Designs various tools to be used for the business process improvement efforts.
See 4 More Skill Behaviors
2 Core Competencies – Standard Operating Procedures (SOP)
Proficiency Level -3
Skill definition-A set of written instructions that describes the step-by-step activities to complete tasks in compliance with business standards and industry regulations.
Level 1 Behaviors
(General Familiarity)
Cites examples of SOP practices in our business operations.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Assists in the preparation of internal standard operating procedures (SOP).
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Analyses our business and operations to identify room for improvement on the related standard operating procedures.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Coaches others on the implementation of SOP to reduce errors and improve quality.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Builds a monitoring system to evaluate the effectiveness of our SOPs.
See 4 More Skill Behaviors
3 Underwriting Manager - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriting Manager
Proficiency Level - 4
5 Competency for - Underwriting Manager
Proficiency Level - 5

Summary of Underwriting Manager skills and competencies

There are 8 hard skills for Underwriting Manager, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
0 general skills for Underwriting Manager.
13 soft skills for Underwriting Manager, Business Process Improvement, Standard Operating Procedures (SOP), Budgeting, etc.
While the list totals 21 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 Underwriting Manager, he or she needs to be skilled in Business Process Improvement, be skilled in Standard Operating Procedures (SOP), and be proficient in Budgeting.

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.