Underwriter
Evaluate financial risk on behalf of others and assess loan applications.
Job opportunities
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Jobs in SEEK right now
Job growth
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5-year projection
Salary
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Typical salary
Job satisfaction
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Job opportunities
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Jobs in SEEK right now
Salary
-
Typical salary
Job growth
-
5-year projection
Job satisfaction
-
On this page
- What's it like to be an Underwriter?
- How to become an Underwriter
- Underwriter courses
- Latest Underwriter jobs
- Top skills and experience for Underwriters
- Underwriter role reviews
What's it like to be an Underwriter?
Underwriters analyse personal and financial information in order to assess the suitability of a loan, credit, insurance or mortgage application. They use this information to determine the level of financial risk to the creditor and usually specialise in one field, such as mortgages or insurance.
Tasks and duties
- Assessing insurance, loan or mortgage applications.
- Evaluating and assuming financial risk on behalf of another party.
- Reviewing an applicant’s age, health, financial and medical history to determine terms and conditions of a loan or policy.
- Determining the acceptable level of risk to be undertaken.
- Performing risk assessments to determine eligibility criteria.
- Using software to analyse details used in the assessment process.
An aptitude for mathematics and calculations, computer literacy and good communication skills are key to becoming an Underwriter. They work for banks, insurance companies, mortgage lenders, private equity companies and other companies in the financial services industry.
How to become an Underwriter
You don’t need formal qualifications to work as an Underwriter, but a relevant qualification may give you an advantage. Equivalent work experience in the insurance, banking or financial services industries may also be accepted.
- Consider completing a relevant qualification, such as the Certificate IV in General Insurance (FNS41415).
- Build your relevant experience in an entry level role in your industry of choice.
- If you want to broaden your financial risk assessment career options, consider completing a relevant bachelor degree, such as the Bachelor of Business majoring in Financial Risk Management.
Compare your salary
Find out how your salary compares with the average salary for Underwriters.
Latest Underwriter jobs on SEEK
Be one of the first to discover these recently listed jobs, or browse all Underwriter jobs on SEEK right now.
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Skills and experience employers are looking for
Having the right skills and experience can make you an in-demand applicant. Underwriter employers on SEEK are looking for job seekers with expertise in the following areas.
Source: SEEK job ads and SEEK Profile data
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Latest Underwriter reviews
Aug 2023
Loved the concept of underwriting as it would not be possible to know the in’s and out’s of Insurance business as
Reviewer's Qualification
Bachelor of Accounting
Experience
1 – 4 years
Organisation size
Large (200+ employees)
Specialisation
Call Centre & Customer Service
The good things
Love dealing with people , after a while u know ur Underwriting skills are mastered , hopefully u get a good Manager to u help & guide u to the next level.
The challenges
Shift work and odd timing not suitable to have a balance
Read more
Sep 2023
Fulfilling but not rewarding.
Experience
1 – 4 years
Organisation size
Small (1-19 employees)
Specialisation
Insurance & Superannuation
The good things
Very energetic to review a risk. Great for social events if your company allows you to go.
The challenges
Very unrealistic workload and expectations. Often working overtime to keep on top of work load. Little recognition or reward for hard workers. Not paid enough.
Read more
Source: SEEK role reviews
SEEK has not verified the truth or accuracy of these comments and does not adopt or endorse any of the comments posted on this page.SEEK collects and posts the comments for what they are worth and for information purposes only to assist candidates to find employment through www.seek.com.au
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