Premium Audit Consultant

Overview

This position supports the Midwest territory, conducting premium audits primarily for Ohio, Indiana, and Kentucky. The role 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 of Property & Casualty Commercial Lines policies at customers’ premises when required.

Responsibilities include establishing 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 and exit interviews during audits.

Responsibilities

• Conduct audits of highly complex accounts, ensuring accuracy of policy classifications, exposure base inclusions/exclusions, and the status and cost allocations of subcontractors; assess business and customer relationships and the overall audit.
• Develop proper premium basis on risks while meeting strict time deadlines.
• Interview the insured to understand operations and the business model; analyze risk and determine employee job classifications based on job role, responsibilities, and exposure to hazard.
• Compile and analyze client operations and accounting records for audit preparation, 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 regarding questionable operations, including suspected fraud.
• Prioritize territorial assignments for policy review and audit workload.
• Provide training, guidance, and monitoring to less experienced audit staff to support accuracy in policy classifications and 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, along with the insurance industry and departmental functions.
• 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 navigate 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.
• Strong project management, organizing, and planning skills.
• Must be self-directed.
• Strong analytical and problem-solving skills for resolving issues of a complex nature.
• Excellent interpersonal, presentation, verbal, and written communication skills, with the ability to influence and collaborate effectively with internal and external partners.
• Proficiency with Microsoft Office Suite, accounting systems, and other business-related software.
• 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.

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 factors including relevant work experience, skills, certifications, and location. A comprehensive and competitive benefits package is available for employees and their family members.

Location

• Work from home with assignment to the Midwest territory.
• Primary audit coverage: Ohio, Indiana, and Kentucky.
• Some business travel within the assigned territory is required for physical audits when needed.