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 and 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 role also involves conducting entrance and exit interviews, accurately assessing risk information, and developing audit findings for internal stakeholders.

Responsibilities

• Conduct audits of highly complex accounts, verifying the accuracy of policy classifications, exposure base inclusions/exclusions, status of subcontractors, subcontractor cost allocations, and overall business/final customer relationship; develop the proper premium basis on risks while meeting strict time deadlines.
• Interview insureds to understand operations and the business model; analyze risk information and determine employee job classifications based on job role, responsibilities, and exposure to hazard.
• Compile and analyze client operations and accounting records to prepare audits, including examining and authenticating classification-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 agents and branch underwriting; inform corporate investigations and underwriting of questionable operations, including suspected fraud.
• Prioritize territorial policy review and audit workload.
• Train less experienced audit staff; monitor and provide guidance on the accuracy of policy classifications and proper premium basis development.
• Stay current on trends and developments within the specialty area and the insurance industry.
• May assist with the performance of operational audits.

Reporting Relationship

Manager or above

Requirements

• Solid knowledge of corporate auditing practices, procedures, and principles, along with solid knowledge of the insurance industry and departmental functions and operations.
• Solid knowledge of statutory and other complex accounting principles, practices, and procedures.
• Ability to ask probing questions of insureds to ascertain conclusions about business operations.
• Ability to interact tactfully and effectively in difficult situations to identify risk and probe further as judgment and situation 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.
• Solid analytical and problem-solving skills, with the ability to resolve complex issues.
• Solid interpersonal, presentation, verbal, and written communication skills, with ability to influence and interact with internal and external partners.
• Proficiency with Microsoft Office Suite, accounting systems, and other business-related software systems.
• 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, a reasonable estimate of compensation is required. 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 relevant work experience, skills, certifications, and location.

A comprehensive and competitive benefits package is provided to support employees and their family members’ physical, financial, emotional, and social wellbeing goals.

Location

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