Premium Audit Consultant

Overview

This role is responsible for conducting premium audits for Property & Casualty Commercial Lines policies across the Midwest territory, primarily covering Ohio, Indiana, and Kentucky. The position is work from home, with remote/hybrid audits completed on a timely basis and some business travel within the assigned territory to perform physical audits when required.

The Premium Audit Consultant establishes appropriate classifications, basis of premium, and premium exposures in accordance with company policy, ISO, NCCI, and Independent Bureaus’ policies and regulations.

Responsibilities

• Conduct audits of highly complex accounts, ensuring accuracy of policy classifications and exposure base inclusions/exclusions, including status of subcontractors and subcontractor cost allocations.
• Develop proper premium basis on risks while adhering to strict time deadlines.
• Conduct interviews with 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 audit findings, including examination and authentication of classification-related data from business records and visual inspection of the insured’s premises.
• 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 load.
• Provide training, monitor performance, and guide less experienced audit staff on accuracy of policy classifications and proper premium basis development.
• Stay current on specialty-area trends, developments, 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 to insureds to ascertain conclusions about business operations.
• Ability to handle difficult situations tactfully and effectively to identify risk and probe further as judgment and circumstances require.
• 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.
• Strong interpersonal, presentation, verbal, and written communication skills to influence and interact effectively with internal and external partners.
• Solid knowledge of Microsoft Office Suite, accounting systems and applications, and other business-related software.
• Ability and willingness to travel.

Preferred Qualifications

• Advanced degree or professional designations preferred.
• PAAS Certification a plus.

Education & Experience

• Bachelor’s Degree, preferably in accounting or finance, or equivalent.
• Experience with ISO, NCCI & Independent Bureau States such as the California WCIRB is required.
• Typically a minimum of five years of related work experience.

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

Location

• Midwest territory with primary coverage of Ohio, Indiana, and Kentucky.
• Work from home with some business travel within the assigned territory for physical audits when required.

Additional Information

• The recruiting process may use AI-enabled technology.
• Reasonable accommodations are available for qualified individuals with disabilities during the recruitment process.