Commercial Underwriter Job Description Template
The Commercial Underwriter will be responsible for the evaluation of commercial loan applications and the determination of risk. The Commercial Underwriter will also be responsible for preparing loan recommendations, communicating with clients and lenders, and maintaining knowledge of current economic conditions.
Commercial Underwriter Job Responsibilities
- Review and analyze loan applications
- Calculate risk exposure and potential profitability of loans
- Determine whether to approve or deny loan requests
- Prepare reports detailing loan approval decisions
- Maintain knowledge of current economic conditions and trends
- Work with loan originators to structure loans that minimize risk
Objectives
- To underwrite commercial risks and provide coverage for businesses.
- To evaluate the exposures of a business and determine the appropriate coverage to protect against those risks.
- To work with businesses to develop risk management programs that will minimize their exposure to losses.
- To monitor the claims experience of a business and make recommendations for changes in coverage or risk management strategies when necessary.
Commercial Underwriter Job Skills & Qualifications Needed
- The skills and qualifications needed for the role of commercial underwriter vary depending on the company and position. However, most employers require at least a bachelor's degree in business, finance, or a related field. Additionally, strong analytical and interpersonal skills are necessary, as well as experience in commercial insurance underwriting. Some positions may also require certification from the American Institute for Chartered Property Casualty Underwriters (AICPCU).