Premium Audit Consultant

Overview

This Premium Audit Consultant role supports the Midwest territory, conducting premium audits primarily for Ohio, Indiana, and Kentucky. The position is work from home and requires timely completion of remote/hybrid audits, with 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. Strong communication, organization, and time management skills are essential to conduct entrance/exit interviews and complete audits accurately and on schedule.

Responsibilities

• Conduct audits of highly complex accounts, validating the accuracy of policy classifications, exposure base inclusions/exclusions, subcontractor status, subcontractor cost allocations, and overall business/final customer relationship; develop the proper premium basis while meeting strict time deadlines.
• Interview insureds to understand their operations and business model; determine employee job classifications based on job roles and responsibilities and exposure to hazard.
• Compile and analyze clients’ 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 of questionable operations, including suspected fraud.
• Prioritize territorial assignment for policy review and audit workload.
• Train 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 operational audits.

Reporting Relationship

• Manager or above

Requirements

• Solid knowledge of corporate auditing practices, procedures, and principles; plus knowledge of the insurance industry, the organization, and departmental functions/operations.
• 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 handle 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.
• Excellent project management, organizing, and planning skills.
• Must be self-directed.
• Strong analytical and problem-solving skills to resolve complex issues.
• Excellent interpersonal, presentation, verbal, and written communication skills to influence and collaborate with internal and external business partners.
• Proficiency with Microsoft Office Suite, accounting systems, and other business-related software.
• 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 a plus.

Compensation & Benefits

• In certain jurisdictions, a reasonable estimate of compensation is required to be included. 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.
• A comprehensive and competitive benefits package is offered to support employees and their family members.

Location

• Work from home.
• Midwest territory with primary audit coverage for Ohio, Indiana, and Kentucky.
• Some business travel within the assigned territory is required for physical audits at customers’ premises when needed.