Premium Audit Consultant

Overview

The organization is seeking a Premium Audit Consultant to support a Midwest territory, conducting premium audits primarily for Ohio, Indiana, and Kentucky.

This is a work-from-home role 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.

The role involves establishing appropriate 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 the accuracy of policy classifications and exposure base inclusions/exclusions, including subcontractor status and subcontractor cost allocations.
• Develop proper premium basis on risks while meeting strict time deadlines.
• Interview insureds to understand operations and business models; 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 the agent 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 and monitor/guidance accuracy of policy classifications and premium basis development.
• Stay current on trends and developments in 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, as well as knowledge of the insurance industry, the organization, 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 reach conclusions about business operations.
• Ability to tactfully and effectively handle difficult situations to identify risk and probe further as judgment dictates.
• Solid knowledge of General Liability, Workers Compensation, and Business Auto Liability functions and procedures, including state and regulatory guidelines.
• Excellent project management, organizational, 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 the ability to influence and interact effectively with internal and external partners.
• Proficiency with 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 is a plus.

Compensation & Benefits

In certain jurisdictions, the organization 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 relevant work experience, skills, certifications, and location.

The organization 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 when required.