Premium Audit Consultant

Overview

This role supports premium audit activities across the Midwest territory, with audits primarily in Ohio, Indiana, and Kentucky. The position 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 at customers’ premises when required.

The Premium Audit Consultant is responsible for establishing appropriate classifications, basis of premium, and premium exposures in accordance with organizational policy, ISO, NCCI, and Independent Bureaus’ policies and regulations.

Responsibilities

• Conduct audits for highly complex accounts, substantiating policy classification accuracy, exposure base inclusions/exclusions, subcontractor status, and subcontractor cost allocations.
• Develop a proper premium basis on risks while meeting strict time deadlines.
• Interview insureds to understand operations and the business model to analyze risk and determine employee job classifications based on job role, responsibilities, and exposure to hazard.
• Compile and analyze clients’ operations and accounting records for accuracy in preparation of audits, including examining and validating classifications-related data 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 assignment for policy review and audit workload.
• Provide training, monitoring, and guidance to less experienced audit staff to support accurate policy classifications and proper premium basis development.
• Stay current on trends and developments in the specialty area and the broader 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 strong familiarity with the insurance industry, the organization, and departmental functions and operations.
• Solid knowledge of statutory and other complex accounting principles, practices, and procedures.
• Ability to effectively ask probing questions of insureds to reach conclusions about business operations.
• Ability to handle difficult situations tactfully and effectively 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 with the ability to resolve complex issues.
• Excellent interpersonal, presentation, verbal, and written communication skills, with the ability to influence and interact with internal and external business partners.
• Proficiency with Microsoft Office Suite, accounting systems, and other business-related software systems.
• Ability and willingness to travel.

Education & Experience

• Bachelor’s degree, preferably in accounting or finance, or equivalent.
• Typically a minimum of five years of related work experience.
• Experience with ISO, NCCI, and Independent Bureau States such as the California WCIRB is required.
• Advanced degree or professional designations preferred.
• PAAS Certification a plus.

Preferred Qualifications

• Advanced degree or professional designations.
• PAAS Certification.

Compensation & Benefits

In certain jurisdictions, the employer 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 but not limited to, relevant work experience, skills, certifications and location. The employer offers a comprehensive and competitive benefits package to help employees and their family members achieve their physical, financial, emotional, and social wellbeing goals.

Location

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