Premium Audit Consultant

Overview

This role is responsible for conducting premium audits across the Midwest territory, with primary coverage in Ohio, Indiana, and Kentucky. The position is work from home and requires timely completion of remote and hybrid audits, along with some business travel within the assigned territory to perform physical audits at customers’ premises when required.

In this position, you will establish appropriate policy classifications, basis of premium, and premium exposures in accordance with company policy, ISO, NCCI, and Independent Bureaus’ policies and regulations. Experience with ISO, NCCI, and Independent Bureau states (such as the California WCIRB) is required.

Responsibilities

• Conduct audits of highly complex accounts to substantiate accuracy of policy classifications, exposure base inclusions/exclusions, status of subcontractors, and subcontractor cost allocations; develop the proper premium basis on risks while meeting strict time deadlines.
• Interview insureds to obtain information about operations and business models to analyze and evaluate the risk; determine employee job classifications based on job role and responsibilities and exposure to hazard.
• Compile and analyze client operations and accounting records for accuracy in preparation of audit, including examining and validating classifications-related data from business records and performing a visual inspection of the insured’s business.
• Identify and communicate regular and irregular audit findings and financial conditions to the agent and branch underwriting; inform corporate investigations and underwriting of questionable operations, including suspected fraud.
• Prioritize territorial assignment for policy review and audit load.
• Provide training, monitoring, and guidance to less experienced audit staff to support accurate policy classifications and proper premium basis development.
• Stay current on trends and developments in specialty areas and the insurance industry.
• May assist in the performance of operational audits.

Reporting Relationship

Manager or above.

Requirements

• Solid knowledge of corporate auditing practices, procedures, and principles, including knowledge of the insurance industry and departmental functions and operations.
• Solid knowledge of statutory and other complex accounting principles, practices, and procedures.
• Ability to effectively ask probing questions of insureds to ascertain conclusions about business operations.
• Ability to tactfully and effectively address difficult situations to identify risk and probe further as needed.
• Solid knowledge of General Liability, Workers Compensation, and Business Auto Liability functions and procedures, including state and regulatory guidelines.
• Excellent project management, organizing, and planning skills.
• Must be self-directed.
• Strong analytical and problem-solving skills with the ability to resolve complex issues.
• Excellent interpersonal, verbal, and written communication skills with the ability to influence and interact with internal and external business partners.
• Proficiency with Microsoft Office Suite and accounting systems/applications; good working knowledge of Excel spreadsheets is a plus.
• Ability and willingness to travel.

Education and Experience

• Bachelor’s Degree, preferably in accounting or finance, or equivalent; advanced degree or professional designations preferred.
• Experience with ISO, NCCI & Independent Bureau States such as the California WCIRB is required.
• Typically a minimum of five years of related work experience.
• PAAS Certification a plus.

Preferred Qualifications

• Advanced degree or professional designations.
• PAAS Certification.

Compensation & Benefits

• In certain jurisdictions, the employer is legally required to include a reasonable estimate of compensation for this role.
• In District of Columbia, California, Colorado, Connecticut, Illinois, Maryland, Massachusetts, New York, and Washington, the national base pay range for this job level is $54,000 to $103,000 annually.
• Salary determinations are based on various factors, including but not limited to relevant work experience, skills, certifications, and location.
• A comprehensive and competitive benefits package is offered to support employees and their family members.

Location

Work from home with coverage of the Midwest territory, primarily Ohio, Indiana, and Kentucky, including some business travel within the assigned territory to perform physical audits when required.