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Commercial Underwriting Manager Jobs (NOW HIRING)

PDP Group, Inc.

Underwriting Manager

Sarasota, FL

The Underwriting Manager for Commercial Auto Insurance leads underwriting operations across multiple carrier programs, ensuring profitable growth, compliance, and excellence in risk assessment. This ...

The Amynta Group

Underwriting Manager

Sarasota, FL · On-site

The Underwriting Manager for Commercial Auto Insurance leads underwriting operations across multiple carrier programs, ensuring profitable growth, compliance, and excellence in risk assessment. This ...

Renasant

CLU Senior Credit Underwriting Manager

Atlanta, GA · On-site

$94K - $112K/yr

Interview and hire commercial underwriting staff * Approve employee timecards, overtime and ... Manage pipeline workflow communicating accordingly with manager as needed * Ensure high quality ...

New

Renasant

CLU Senior Credit Underwriting Manager

Tupelo, MS · On-site

$93K - $110K/yr

Interview and hire commercial underwriting staff * Approve employee timecards, overtime and ... Manage pipeline workflow communicating accordingly with manager as needed * Ensure high quality ...

New

Renasant

CLU Senior Credit Underwriting Manager

Nashville, TN · On-site

$95K - $112K/yr

Interview and hire commercial underwriting staff * Approve employee timecards, overtime and ... Manage pipeline workflow communicating accordingly with manager as needed * Ensure high quality ...

New

Renasant

CLU Senior Credit Underwriting Manager

Memphis, TN · On-site

$87K - $104K/yr

Interview and hire commercial underwriting staff * Approve employee timecards, overtime and ... Manage pipeline workflow communicating accordingly with manager as needed * Ensure high quality ...

New

YouLend

Underwriting Manager

Atlanta, GA · On-site

... Commercial teams to support business growth and continuous improvement • Support the launch of ... managing underwriting teams • Strong understanding of credit risk assessment and lending ...

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Commercial Underwriting Manager information

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$48K

$103.1K

$158.5K

How much do commercial underwriting manager jobs pay per year?

As of Aug 8, 2026, the average yearly pay for commercial underwriting manager in the United States is $103,082.00, according to ZipRecruiter salary data. Most workers in this role earn between $77,000.00 and $121,000.00 per year, depending on experience, location, and employer.

What is the difference between Commercial Underwriting Manager vs Commercial Underwriter?

AspectCommercial Underwriting ManagerCommercial Underwriter
CredentialsTypically requires a bachelor’s degree in finance, business, or related field; professional certifications like CPCU or ARM are commonSame as manager, often with similar certifications and experience
Work EnvironmentLeads underwriting teams, oversees policies, and manages risk assessment strategiesPerforms detailed risk analysis and evaluates insurance applications
Employer & Industry UsageUsed in insurance companies, especially in commercial linesCommonly used in insurance companies for individual and small business policies

The main difference is that the Commercial Underwriting Manager oversees the underwriting team and strategy, while the Commercial Underwriter focuses on evaluating individual insurance applications. Both roles require similar credentials and work within the same industry, but the manager has a leadership and oversight role.

What does a commercial underwriting manager do?

A Commercial Underwriting Manager oversees the underwriting process for business insurance policies, ensuring that risks are accurately assessed and policies are priced appropriately. They lead a team of underwriters, set underwriting guidelines, and work closely with brokers and clients to evaluate complex commercial risks. Their responsibilities also include training staff, monitoring portfolio performance, and ensuring compliance with industry regulations. This role requires strong analytical, leadership, and decision-making skills.

What are some typical challenges faced by commercial underwriting managers, and how can they be addressed?

Commercial Underwriting Managers often encounter challenges such as balancing risk assessment with business growth objectives, managing complex and varied portfolios, and keeping up with ever-changing regulations. These challenges can be addressed by fostering strong communication within the underwriting team, leveraging technology for accurate risk analysis, and participating in ongoing professional development. Building close relationships with brokers and clients also helps streamline the underwriting process and ensures better risk selection.

What are the key skills and qualifications needed to thrive as a commercial underwriting manager?

To excel as a Commercial Underwriting Manager, you need deep knowledge of risk assessment, financial analysis, and insurance products, typically supported by a bachelor’s degree in finance, business, or a related field. Familiarity with underwriting software, risk modeling tools, and regulatory compliance systems is crucial. Strong leadership, decision-making, and negotiation skills help foster effective team management and client relationships. These competencies ensure accurate risk evaluation, profitability, and compliance in complex commercial insurance environments.
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What cities are hiring for Commercial Underwriting Manager jobs? Cities with the most Commercial Underwriting Manager job openings:
What are the most commonly searched types of Commercial Underwriting jobs? The most popular types of Commercial Underwriting jobs are:
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What job categories do people searching Commercial Underwriting Manager jobs look for? The top searched job categories for Commercial Underwriting Manager jobs are:
Commercial Underwriting Manager jobs near you
Infographic showing various Commercial Underwriting Manager job openings in the United States as of August 2026, with employment types broken down into 88% Full Time, 11% Part Time, and 1% Contract. Highlights an 85% Physical, 2% Hybrid, and 13% Remote job distribution, with an average salary of $103,082 per year, or $49.6 per hour.

Underwriting Manager - Commercial (CMBS, IP)

KeyBank

Chicago, IL • On-site

$116K - $216K/yr

Full-time

Re-posted 8 days ago

KeyBank rating

8.2

Company rating: 8.2 out of 10

Based on 99 frontline employees who took The Breakroom Quiz

51st of 170 rated banks

Job description

Location:
1 N Wacker Drive, Chicago Illinois
Job Summary
The Underwriting Manager - Commercial (CMBS, IP) provides daily management, oversight and direction for all underwriting activities for CMBS, Investor Placement, and Debt Fund mortgage loans. This role facilitates the diligence of off-balance sheet real estate transactions, ensuring alignment with internal and market risk parameters and partners closely with internal teams, clients, and external stakeholders to deliver high-quality execution aligned with business objectives.
Essential Functions
  • Demonstrated proficiency in commercial real estate underwriting, including CMBS, Life Insurance Company and Debt Funds and provide underwriting expertise when needed.
  • Mentor, inspire, and motivate teammates while demonstrating professionalism, mutual respect, and collaboration.
  • Thrive in a dynamic, fast-paced work environment and positively influence team performance.
  • Maintain internal underwriting and deal assignment lists to ensure full-time staff remains utilized and challenged - engaged with embedded contactors and third party vendors to ensure capacity when deal flow expands beyond internal capacity.
  • Communicate clearly and effectively, both verbally and in writing, and promote frequent, direct communication with commercial underwriting team, internal stakeholders, rating agencies and other market participants.
  • Understand underwriting trends and best practices within other products under the Commercial Mortgage Group umbrella.
  • Review credit memo prior to submission to committee ensuring the underwriting and credit memo are thorough, reflect the strengths and weaknesses of the transaction and all underwriting parameters have been properly documented.
  • Using internal and external trend analysis. review, assess and update commercial real estate underwriting processes and procedures.
  • Identify transaction risks and work with other commercial managers to mitigate to minimize execution and pricing risks.
  • Review performance and output of third-party vendors and provide timely and thoughtful feedback to vendors and KRETS management, when needed.
  • Demonstrate proficiency in complex borrower structures ensuring commercial underwriters identify necessary participants and complete proper searches and disclosures.
  • Review and analyze transaction-related documents and prepare written narrative summaries.
  • Collaborate with origination, closing, and securitization managers to ensure compliance with internal guidelines and market standards.
  • Build and maintain internal and external relationships ensuring commercial management team is aware of evolving market trends that could influence business strategy.
  • Contribute market intelligence, ideas, and individual strengths in support of KeyBank's mission and team goals.
  • Comply with all KeyBank policies and procedures, including acting professionally, conducting business ethically, avoiding conflicts of interest, and acting in the best interests of clients and KeyBank.
Education
  • Bachelor's degree in real estate, finance, economics, or a related field preferred
Work Experience
  • Ten or more years' experience in origination, underwriting of commercial mortgage loans and/or debt capital markets banking
  • Proficiency in Microsoft and Adobe products preferred
  • Excellent verbal and written communication skills preferred
  • Proficient understanding of underwriting fundamentals with a strong focus on debt capital markets financing structures
Skills
  • Understanding of real estate debt capital markets
  • Decision-making and accountability
  • Risk identification, mitigation, and compliance awareness
  • Ability to adapt and thrive in a fast-paced work environment
  • Problem-solving and analytical reasoning
  • Relationship building and collaboration
  • Client service orientation
  • Confidentiality and ethical judgment
  • Business and financial acumen
  • Credit analysis
  • Know Your Customer and Anti-Money Laundering compliance
  • Commercial lending process support
  • Mortgage advisory and underwriting expertise
  • Transaction coordination and execution
  • Sales and business support
Core Competencies
All KeyBank employees are expected to demonstrate KeyBank's values and abide by KeyBank's Code of Conduct.
Physical Demands
  • General office environment
  • Prolonged sitting
  • Frequent use of a PC or laptop
  • Ability to communicate in person and by phone with teammates and clients
  • Occasional lifting, pushing, or pulling of backpacks or computer bags up to 10 pounds
Travel
  • Occasional travel, including overnight stays
Work Location
  • In office schedule requiring four or more days in the office

COMPENSATION AND BENEFITS
This position is eligible to earn a base salary in the range of $116,000.00 - $216,000.00 annually. Placement within the pay range may differ based upon various factors, including but not limited to skills, experience and geographic location. Compensation for this role also includes eligibility for incentive compensation which may include production, commission, and/or discretionary incentives.
Please click here for a list of benefits for which this position is eligible.
Key has implemented an approach to employee workspaces which prioritizes in-office presence, while providing flexible options in circumstances where roles can be performed effectively in a mobile environment.
Job Posting Expiration Date: 08/07/2026KeyCorp is an Equal Opportunity Employer committed to sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, pregnancy, disability, veteran status or any other characteristic protected by law.
Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.
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About KeyBank

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Key is one of the nation's largest bank-based financial services companies. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name.

Industry

Banking and credit intermediation

Company size

10,000+ Employees

Headquarters location

Cleveland, OH, US

Year founded

1849

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