What does a Junior Underwriter do?

A Junior Underwriter is responsible for the initial review and analysis of loan applications. They make sure that the loan meets the guidelines set by the company and make recommendations to the senior underwriter.

Junior Underwriter job duties include:

Review loan files for accuracy and completeness
Verify employment, income, assets, and liabilities
Analyze credit reports
Determine if the borrower meets the company’s guidelines for approval
Order appraisals and title reports
Review property insurance
Examine the loan’s structure to ensure it is sound
Calculate the risk of default and determine the interest rate
Prepare loan documents for closing

Junior Underwriter Job Requirements

A Junior Underwriter typically needs a bachelor's degree in business, finance, economics, or a related field. Certification as a Chartered Financial Analyst (CFA) or Certified Public Accountant (CPA) is preferred. Prior experience in underwriting, credit analysis, or loan servicing is also helpful.

Junior Underwriter Skills

Analytical skills
Probability and statistical analysis
Financial analysis
Finance
Asset management
Real estate
Business administration
Marketing
Financial modeling
Business strategy
Business development

How to become a Junior Underwriter

There are many steps that one must take in order to become a Junior Underwriter. The first step is to have a bachelor's degree in business administration, finance, or a related field. Next, it is recommended that you complete an internship with an insurance company. This will give you the opportunity to learn about the underwriting process and gain experience in the industry. After completing your internship, you should then apply for a Junior Underwriter position at an insurance company. Once you have been hired, you will be responsible for reviewing insurance applications and determining whether or not to approve them. To be successful in this role, it is important that you have strong analytical and decision-making skills.