Insurance Audit Executive - Product, Distribution and Servicing
USAA
Premium Audit Specialist I
EMC Insurance Companies
full-time
Posted on:
Origin: • 🇺🇸 United States
Visit company websiteSalary
💰 $27 - $41 per hour
Job Level
JuniorMid-Level
About the role
- Serves as a resource and coordinates with people leader and team members within their assigned region to deliver quality audits, adherence to standards and customer service.
- Researches answers to questions on various premium audit rules, guidelines and interpretations.
- Researches required information and responds to various inquiries from branch underwriters and agents on the outcome of a premium audit.
- Reviews completed physical, phone and mail audit reports in assigned states prepared by internal or vendor auditors for accuracy and completeness in accordance with industry rules and regulations and company policy.
- Analyzes audit report details, including policyholder financial records, such as federal and state quarterly tax returns, payroll records, financial statements and general ledger.
- Verifies proper classifications and endorsements are applicable based upon the type of business operations and line of business.
- Approves or returns an audit to the auditor if the proper information is not provided, incorrect or undocumented.
- Researches required information and coordinates the resolution of audit disputes, which typically challenge the new premium amount, employee classification or exposure calculations.
- Coordinates the resolution of audit disputes and communicates final decision to underwriters, underwriting managers, agents and premium auditors.
- Defers to higher authority if an accommodation is being requested by the branch after an undesired outcome of an audit dispute.
- Calculates the final earned premium by using the completed audit information and applying the proper manual rules and rates.
- Calculates workers’ compensation dividends in accordance with dividend filings.
- Analyzes policy information to determine the type of audit to be completed and evaluates the type of risk, operations, classifications, exposures, premium and related expense and recommends audit method.
Requirements
- Bachelor’s degree in accounting, finance, insurance or related field or equivalent relevant experience
- Two years of premium audit or related experience
- Good knowledge of premium audit rules and interpretations
- Good knowledge of the insurance industry
- Ability to analyze, research and resolve audit issues
- Strong verbal and written communication skills
- Ability to work independently
- Strong attention to detail
