What is a Credit Underwriter?
The duties of a Credit Underwriter Financial institutions like banks regularly provide credit like mortgages and loans. They drive the economy to grow and expand. Mortgages are the main force behind the real estate industry and loans are indispensible for business as well as individuals. Banks would be tempted to give more credit thereby making a profit on the repayment. But not all borrowers tend to repay the amount. Some borrowers are more likely to default. Banks would need some kind of authority to check whether the borrower can return the credit.

This is the job of a Credit Underwriter. He analyses the profile of the borrower and his credit score. He decides whether he should receive the organization's credit like loans, mortgages, etc. The Credit Underwriter must take into account various factors before coming to a decision on whether to provide credit to the borrower. He looks at the credit score of the borrower which gives a measure of how good the borrower has been on his previous financial transactions.

Qualifications necessary for Credit Underwriter
There is lot of scope for a professional Credit Underwriter in Canada. There are numerous financial institutions that require the services of a credit underwriter like banks, investors, credit agencies and others. Most companies would look for a graduate in a course like business administration or finance management. The companies would also look at experience in accounting as an added bonus from the employee. A general degree and exposure to business law maybe enough to qualify for the post.

Computer knowledge is becoming essential these days as most information is in the digital form and this requires expertise in handling databases and reports. The post of credit underwriter requires the patience to analyze the information. The decision will decide the fate of the credit request from the borrower. The Credit Underwriter is usually required to submit a report to a board which will come to the final decision. The credit underwriter takes the credit, capacity and collateral into account when analyzing the capability.

Job openings in Canada
A Credit Underwriter has a lot of scope in Canada as there are lots of job openings in financial institutions. Various banks and other financial institutions in Canada employ these people. There are associations of credit underwriters that provide guidelines and help the credit underwriters in their job. There are companies that employ a credit underwriter for specific purposes like mortgages or loans or other credit transactions. There are online sites that help in finding the credit underwriter jobs in Canada. They also present job openings locally.

They require the job seeker to upload his profile onto their database. The database is open to recruiters who analyze the profiles and call the selected for an interview. Credit underwriter jobs get into focus as banks would be cautious in providing loans during the recession period. This adds more responsibility and they would be required to scrutinize the borrower capability even more. Credit Underwriter is a challenging position in a financial institution and demands hard work and sound decision making and reasoning. What is a Credit Underwriter?

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