Skills & Competencies for Underwriting Supervisor

Underwriting Supervisor job profile

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JOB SUMMARY for Underwriting Supervisor

Oversees activities of the underwriting department.

JOB RESPONSIBILITIES for Underwriting Supervisor

Provides supervision for a group of underwriters who review, analyze, and inspect insurance risk. Ensures compliance with all industry and governmental regulations. Follows established procedures regarding risk management, application and renewal, and acceptance and rejection. Develops underwriting team expertise with coaching, support and educational programs.

Underwriting Supervisor SALARY RANGE

BASE 50%
$109,568
TOTAL 50%
$120,305
Job Level
M01
Job Code
FA06000568
Education/Degree
Bachelor's Degree
Reports To
Manager or Head of a Unit/Department

Underwriting Supervisor 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 Supervisor skill and competencie below to view definitions.
INDUSTRY COMPETENCIES CORE COMPETENCIES
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8 hard skills or competencies (industry competencies) for Underwriting Supervisor

1 Industry Competency – Insurance Industry
Proficiency Level -2
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)
Defines the key terminologies and components of an insurance policy.
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Level 2 Behaviors
(Light Experience)
Enters new information about insurance premiums and payments to update insurance policy records.
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Level 3 Behaviors
(Moderate Experience)
Examines insurance applications and letters from clients to determine necessary policy changes.
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Level 4 Behaviors
(Extensive Experience)
Evaluates existing claims handling process to identify fraud and opportunities for optimization of outcomes.
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Level 5 Behaviors
(Mastery)
Champions the adoption of AI and automation technologies to streamline insurance operations.
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2 Industry Competency – Insurance Legal and Regulatory Environment
Proficiency Level -2
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.
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Level 2 Behaviors
(Light Experience)
Assists in assessing regulatory risks to ensure insurance operations meet compliance and regulatory obligations.
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Level 3 Behaviors
(Moderate Experience)
Adopts legal and regulatory initiatives to assess possible risks and maintain insurance solvency.
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Level 4 Behaviors
(Extensive Experience)
Directs the regulation of insurance products to ensure insurance policy provisions comply with state laws.
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Level 5 Behaviors
(Mastery)
Builds policy and regulatory tools to monitor and assess compliance levels with insurance laws and regulations.
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3 Underwriting Supervisor - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriting Supervisor
Proficiency Level - 4
5 Competency for - Underwriting Supervisor
Proficiency Level - 5

11 soft skills or competencies (core competencies) for Underwriting Supervisor

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)
Names various methods used to practice business process improvement.
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Level 2 Behaviors
(Light Experience)
Suggests changes to the existing processes and structure in our business.
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Level 3 Behaviors
(Moderate Experience)
Recommends the business process management system that meets our business needs.
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Level 4 Behaviors
(Extensive Experience)
Resolves underlying issues that bring about the business process bottlenecks.
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Level 5 Behaviors
(Mastery)
Restructures ways to align business processes with organizational goals.
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2 Core Competencies – Standard Operating Procedures (SOP)
Proficiency Level -2
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)
Lists the typical processes of SOP development.
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Level 2 Behaviors
(Light Experience)
Supports the analysis of our business and operations processes for SOP design and development.
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Level 3 Behaviors
(Moderate Experience)
Researches new tools and techniques for SOP daily management.
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Level 4 Behaviors
(Extensive Experience)
Resolves complex issues arising from SOP practices; develops preventative solutions accordingly.
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Level 5 Behaviors
(Mastery)
Monitors industry for SOP trends and best practices; makes recommendations about those that benefit our business.
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3 Underwriting Supervisor - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Underwriting Supervisor
Proficiency Level - 4
5 Competency for - Underwriting Supervisor
Proficiency Level - 5

Summary of Underwriting Supervisor skills and competencies

There are 8 hard skills for Underwriting Supervisor, Insurance Industry, Insurance Legal and Regulatory Environment, Insurance Products, etc.
0 general skills for Underwriting Supervisor.
11 soft skills for Underwriting Supervisor, Business Process Improvement, Standard Operating Procedures (SOP), Risk Management, 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 Underwriting Supervisor, he or she needs to be skilled in Business Process Improvement, be proficient in Standard Operating Procedures (SOP), and be skilled in Risk Management.

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