Overview
The Premium Audit Consultant will handle 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 and 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 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.
Responsibilities
- Conduct audits of highly complex accounts, substantiating policy classifications, exposure base inclusions/exclusions, and the status of subcontractors and subcontractor cost allocations.
- Analyze business and customer relationships and perform overall business audits; develop the proper premium basis on risks while adhering to strict time deadlines.
- Interview insureds to obtain information about operations and business models; determine employee job classifications based on job role and responsibilities and exposure to hazard.
- Compile and analyze clients’ operations and accounting records for accuracy in preparation of 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 regarding questionable operations, including suspected fraud.
- Prioritize territorial assignment for policy review and audit load.
- Train less experienced audit staff; monitor and provide guidance on the accuracy of policy classifications and proper premium basis development.
- Stay current on trends and developments in the specialty area and the insurance industry.
- May assist with operational audits.
Requirements
- Solid knowledge of corporate auditing practices, procedures, and principles, along with knowledge of the insurance industry, organizational, 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 ascertain conclusions about business operations.
- Ability to tactfully and effectively address 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, 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; knowledge of 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, 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 relevant work experience, skills, certifications, and location.
The employer offers a comprehensive and competitive benefits package for employees and their family members.
Location
Work from home, handling the Midwest territory with audits primarily in Ohio, Indiana, and Kentucky, including some business travel within the assigned territory for physical audits when required.
Reporting Relationship
Manager or above