Life Underwriting Supervisor supervises group of underwriters who review, analyze and inspect life insurance contracts. Accepts, modifies or declines a risk through evaluation of an individual's medical history or physical condition, occupational hazards, financial background, insurable interest and other information. Being a Life Underwriting Supervisor analyzes various rate plans utilizing the organization's claims history to determine the appropriate rate plan and benefits costs. Familiar with current legislative and compliance processes affecting life insurance. Additionally, Life Underwriting Supervisor may evaluate reinstatements and changes in existing policies. May have designations or course work toward the CLU, FLMI, etc. Has a sound working knowledge of medical terminology. Requires a bachelor's degree. Typically reports to a manager or head of a unit/department. The Life Underwriting Supervisor supervises a small group of para-professional staff in an organization characterized by highly transactional or repetitive processes. Contributes to the development of processes and procedures. Thorough knowledge of functional area under supervision. To be a Life Underwriting Supervisor typically requires 3 years experience in the related area as an individual contributor. (Copyright 2024 Salary.com)
· Be responsible for all aspects of the credit decision making process performed by the underwriters under supervision
· Underwrite 70% of the expected monthly funded unit count for Underwriters
· Conduct underwriter meetings in accordance with guideline changes, new investor introductions, internal service levels, and other applicable topics
· Re-underwrite the first ten loans of each new hire. At least four need to be government loans.
o A summary of the “finding” and comments should be submitted to the Chief Credit Officer with a recommendation for:
§ Signing authority
§ Additional time under review
§ Termination
· Weekly productivity review
o Review of each underwriters initial underwrites and resubmissions
· Monthly review of QA / QC findings
o Review findings and meet with each underwriter to review / dispute findings
§ Counseling for egregious errors or repeat mistakes
· Manage eFolder usage by underwriters
o Underwriter is responsible for having each credit document used in rendering the credit decision on a loan placed in the proper eFolder bucket before issuing the CTC.
o All unnecessary / duplicate documentation should be placed in the eFolder bucket marked “Junk” (soon to be named “Archive – Do not ship”
· Provide second level review on all loans recommended for credit denial
· Supervise the “scenario desk” for accurate and timely responses to scenario questions from the field
· Arbitrate appeals and disagreements on loan files as needed between Sales and Operations
o Insure that appropriate loans are conditioned to findings and not necessarily beyond
· Maintain thorough knowledge of loan programs, guidelines, documents and secondary marketing salability requirements
· Thorough understanding of the entire mortgage workflow process
· Maintain knowledge of Encompass configuration and functionality
· Participate in Investor meetings – both at relationship inception and scheduled post-closing / book of business performance reviews
· Underwrite or second signature for all delegated jumbo loans
· Underwrite the first five loans from a new branch office
· Participate in Operations Staff meetings – when necessary
· Participate in Senior Management meetings – when necessary
Job Type: Full-time
Work Location: In person