Junior Underwriter
C$51K
/ year
3-6 years experience
C$51K
/ year
3-6 years experience
A junior underwriter generally work under an underwriter, helping carry out the duties required in determining whether or not a loan should be given. The junior underwriter performs many of the same duties as an underwriter, such as investigating loan eligibility, making decisions on whether or not loans are to be granted, and explaining why a loan was granted or denied as required. Quality checks and reports are often required of a junior underwriter. They also put together documentation, update data, and create reports relating to the loans.The junior underwriter has to look over loan applications to ensure there are no discrepancies and that all necessary signatures have been obtained. Therefore, attention to detail is essential. The junior underwriter keeps track of customer records as well. Communication with the customer and employees in other parts of the company is done electronically, in person, and through the phone. The junior loan officer must update systems according to changes in policies, technology, and rates, so adaptability and the ability to learn quickly is a must.Most junior underwriter positions require a minimum of a associate’s degree, though many require a bachelor’s degree and experience in the banking field. Generally, this is a full-time job that takes place during regular office hours, though availability outside those hours may sometimes be required. Computer skills are essential, as many processes are somewhat automated and require use of programs such as Microsoft Excel and DecisionPro.
As a Junior Underwriter with 3-6 years of experience in Canada, your main responsibilities include:
For a Junior Underwriter, the following qualifications are required:
1
Customer Service
2
Underwriting
3
Loan Processing
The role of Junior Underwriter is crucial in the Canadian insurance industry, requiring 3-6 years of experience. For professionals seeking alternative career paths, here are four options to consider:
The role of Junior Underwriter in Canada is expected to experience steady growth in the market over the next 10 years. This is supported by various data points available through Google. The projected growth for this job role is notably positive, with increasing demands in the financial sector. As the economy expands, there will be a surge in the number of employment opportunities for Junior Underwriters in various industries such as banking, insurance, and lending institutions. Overall, the future looks promising for individuals seeking career prospects as Junior Underwriters in Canada.