Premium Audit Consultant

Overview

The Premium Audit Consultant handles 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, 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 the 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. Strong verbal and written communication skills are needed to conduct entrance/exit interviews during audits.

Responsibilities

• Conduct audits of highly complex accounts, substantiating the accuracy of policy classifications and exposure base inclusions/exclusions.
• Verify status of subcontractors and subcontractor cost allocations; assess business and customer relationships as part of the audit process.
• Develop proper premium basis on risks while meeting strict time deadlines.
• Interview insureds to gather information on operations and business models; analyze risk and determine employee job classifications based on role/responsibilities and exposure to hazard.
• Compile and analyze client operations and accounting records for audit preparation, including examining and authenticating classifications data from business records and visually inspecting 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 workload.
• Train less experienced audit staff and monitor/provide guidance on 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 operational audits.

Reporting Relationship

• Manager or above

Requirements

• Solid knowledge of corporate auditing practices, procedures, and principles, including the insurance industry, the organization, and departmental functions/operations.
• Solid knowledge of statutory and other complex accounting principles, practices, and procedures.
• Ability to effectively ask probing questions to ascertain conclusions about business operations.
• Ability to tactfully and effectively handle 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 to resolve complex issues.
• Strong interpersonal, presentation, verbal, and written communication skills, with 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.
• 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 is a plus.

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 but not limited to, relevant work experience, skills, certifications, and location.

A comprehensive and competitive benefits package is offered.

Location

Midwest territory with primary focus on Ohio, Indiana, and Kentucky. Work is performed from home, with some business travel within the assigned territory for physical audits when required.