Premium Audit Consultant

Overview

This role is responsible for conducting premium audits for Property & Casualty Commercial Lines policies in the Midwest territory, primarily in Ohio, Indiana, and Kentucky. The position is work from home, with timely completion of remote/hybrid audits and some business travel within the assigned territory to perform physical audits at customers’ premises 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. Experience with ISO, NCCI, and Independent Bureau State requirements (including 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 review of subcontractor status and subcontractor cost allocations.
• Develop the proper premium basis on risks while adhering to strict time deadlines.
• Interview insureds to obtain information about operations and business models, including analysis of risk and determination of employee job classifications based on job roles and responsibilities.
• 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.
• Recognize 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.
• Conduct training for less experienced audit staff and monitor/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 the performance of operational audits.

Reporting Relationship

• Manager or above

Requirements

• Solid knowledge of corporate auditing practices, procedures, and principles, along with knowledge of the insurance industry, organization, and departmental functions.
• Solid knowledge of statutory and other complex accounting principles, practices, and procedures.
• Ability to ask probing questions of insureds to ascertain conclusions about business operations.
• Ability to interact tactfully and effectively in difficult situations to identify risk and probe as judgment and situation dictate.
• 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, including the ability to resolve complex issues.
• Solid 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. 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 to be included:

• 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 benefits package is offered.

Location

• Work from home
• Midwest territory, primarily Ohio, Indiana, and Kentucky
• Some business travel within the assigned territory to perform physical audits when required.