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%
$109,019
TOTAL 50%
$119,696
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)
Explains how reinsurance aids in meeting the long-term debts and financial obligations of a business.
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Level 2 Behaviors
(Light Experience)
Locates resources to acquire updates regarding market shifts and regulatory changes in insurance.
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Level 3 Behaviors
(Moderate Experience)
Prepares insurance plans based on client needs to minimize financial risk or losses during uncertain events.
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Level 4 Behaviors
(Extensive Experience)
Monitors industry changes to improve the strategic directions of insurance operations.
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Level 5 Behaviors
(Mastery)
Develops strategic methods for selling insurance policies to increase the profit of our organization.
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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)
Describes the importance of compliance programs in maintaining an insurance legal and regulatory environment.
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Level 2 Behaviors
(Light Experience)
Documents compliance complaints to track and escalate possible legal violations and ensure prompt resolution.
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Level 3 Behaviors
(Moderate Experience)
Executes market conduct exams to verify the adherence of insurance operations to laws and regulations.
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Level 4 Behaviors
(Extensive Experience)
Reviews root causes of regulatory deficiencies to create corrective action plans and ensure adherence.
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Level 5 Behaviors
(Mastery)
Develops an insurance regulatory framework to promote consumers' protection and achieve policy objectives.
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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)
Explains common symptoms of inefficient processes that call for business process improvement.
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Level 2 Behaviors
(Light Experience)
Collects feedback directly from staff involved in the new process mapping.
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Level 3 Behaviors
(Moderate Experience)
Manages process improvements to ensure that the entire system works efficiently.
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Level 4 Behaviors
(Extensive Experience)
Expedites processes by switching from sequential tasks to simultaneous tasks.
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Level 5 Behaviors
(Mastery)
Leads the reorganization of the workforce based on the agreed and desired outcomes.
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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)
Discusses the considerations and concerns on applying SOP for the first time.
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Level 2 Behaviors
(Light Experience)
Gathers information on workflows and business controlling points.
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Level 3 Behaviors
(Moderate Experience)
Initiates SOP revisions to support continuous improvement of processes.
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Level 4 Behaviors
(Extensive Experience)
Evaluates the benefits and drawbacks of a specific SOP; oversees the corresponding enhancements.
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Level 5 Behaviors
(Mastery)
Establishes formal policies and procedures to guide the our SOP practices.
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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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