Premium Audit Consultant

Overview

The Premium Audit Consultant will handle the Midwest territory, conducting premium audits primarily for Ohio, Indiana, and Kentucky. This is a work-from-home position that requires timely completion of remote/hybrid audits, along with some business travel within the assigned territory to perform physical audits of Property & Casualty Commercial Lines policies at customers’ premises when required.

In this role, you will establish appropriate classifications, basis of premium, and premium exposures in accordance with company policy, ISO, NCCI & Independent Bureaus’ policies and regulations. Experience with ISO, NCCI & Independent Bureau States such as the California WCIRB is required. The position also involves conducting entrance/exit interviews and preparing audit findings based on client operations and accounting records.

Responsibilities

• Conduct audits of highly complex accounts to substantiate accuracy of policy classifications, exposure base inclusions/exclusions, status of subcontractors, subcontractor cost allocations, business and final customer relationships, and overall business.
• Develop proper premium basis on risks while meeting strict time deadlines.
• Interview insureds to obtain information on operations and business model to analyze the risk.
• Determine employee job classifications based on job roles and responsibilities and exposure to hazard.
• Compile and analyze clients’ operations and accounting records for accuracy in preparation of the audit, including examining and authenticating classification-related data from business records and performing a visual inspection of the insured’s business.
• Recognize 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 assignments for policy review and audit workload.
• Provide training for less experienced audit staff and monitor accuracy of policy classifications and proper premium basis development.
• Stay current on trends and developments in the specialty area and across the insurance industry.
• May assist with operational audits.

Reporting Relationship

• Manager or above

Requirements

• Solid knowledge of corporate auditing practices, procedures, and principles, along with knowledge of the insurance industry, organization, 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 handle difficult situations to identify risk as judgment and circumstances dictate.
• 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 to resolve issues of a complex nature.
• Strong interpersonal, presentation, verbal, and written communication skills with the ability to influence and interact with internal and external business partners.
• Solid knowledge of Microsoft Office Suite, accounting systems and applications, and other business-related software systems.
• Ability and willingness to travel.

Education & 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.

Compensation & Benefits

In certain jurisdictions, the employer is legally required to include a reasonable estimate of the 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.
• The employer offers a comprehensive and competitive benefits package.

Location

• Midwest territory (primarily Ohio, Indiana, and Kentucky)
• Work from home with some business travel within the assigned territory to perform physical audits at customers’ premises when required.