Inside (Virtual) Premium Auditor
Title: Inside (Virtual) Premium Auditor FLSA: Exempt
Reports to: Premium Audit Manager Updated: September 2021
Complete virtual and voluntary audits in accordance with all manuals and corporate requirements set forth in the Premium Audit Guidelines. Monitor the monthly reporting forms for anomalies including suppressed premium / exposure reporting, incompatible class codes, additional requested classifications, premium calculation issues and trending of reported exposure vs. expected exposure based on potential collections issues at final audit. The position will request interim audits on accounts that exceed set deviation levels of reporting to ensure accurate reporting. This position will proactively report to management on tactical suggestions to improve marketability of our products and reduce final audit issues. The candidate will respond to marketing, underwriters, agents, insureds and vendors to answer their questions as efficiently as possible and create documentation so that the audits will be handled correctly.
Principal Duties and Responsibilities
(These duties and responsibilities are judged to be “essential functions” in terms of the Americans with Disabilities Act or ADA.)
- Conducts Desk audits: Requests necessary records from the insured to conduct an audit that would meet or exceed industry standards. Examines the records provided by the insured and where possible, compare them to last year's audit. Conduct a telephone interview with the insured to review the operations and job duties of the workers. Ensure that the audit adheres to state, manual and company requirements.
- Act as a liaison for customers who have questions regarding their audit, the audit process or have questions regarding class codes, subcontract labor, business changes etc.
- Works with the audit team to resolve audit disputes. Review assigned incoming audit disputes for validity. Determine if the necessary documentation to resolve the dispute is attached and provide a confirmation to the insured that their audit dispute has been received. Set a level of service expectation taking into consideration the documentation provided, current work load and complexity of the audit dispute.
- Monitor monthly audits for exceptions relating to exposure and class code compared to the estimates. Report deviations exceeding the service standards to management for review.
- During heavy volume, assist in reviewing final audits for processing
- Studies all insurance manuals, premium audit manuals, handbooks, guides and related materials to deepen the depth of knowledge with the rules and regulations surrounding premium audit.
- Performs other related duties as assigned
The above statements are intended to describe the general nature and level of work being performed by a person in this position. They are not to be construed as an exhaustive list of all duties that may be performed by such a person.
Recommended Employment Qualifications
Education: BA/BS Degree in Business or Accounting or equivalent work experience
Experience: This position requires a minimum of three years of Premium Audit experience and/or training; or equivalent combination of education and experience.
Other Knowledge, Skills and Abilities:
- Excellent verbal and written communication and organizational skills
- The ability to work independently and prioritize workload to meet time service and volume expectations
- Attention to detail
- Ability to occasionally travel
- Solid PC skills using Microsoft Office products, internet, vendor software, navigate ImageRight and Tropics
(To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.)
1. Ability to read and interpret documents such as accounting rules and standards, procedure manuals, and general business-related documents.
2. Ability to write routine reports and correspondence.
3. Ability to speak effectively to policyholders, claimants, provider personnel, or employees of the company.
4. Ability to add, subtract, multiply, and divide all units of measure using whole numbers, common
fractions and decimals.
5. Ability to compute rates, ratios and percentages.
6. Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form.
7. Ability to deal with problems involving several concrete variables in standardized situations.
8. High Degree of proficiency in Microsoft Word and Excel as well as a ten-key calculator.
While performing the duties of this job, the employee is regularly required to sit; use hands; reach with
hands and arms; and talk or hear. The employee is occasionally required to stand; walk; and stop, kneel, crouch or crawl. Specific vision abilities required by the job include focusing on a computer screen for extended periods of time. The employee may occasionally lift and or move up to 15 pounds.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.
The noise level in the work environment is usually moderate.
The qualifications listed above are guidelines for selection purposes; alternative qualifications may be substituted if sufficient to perform the duties of the job.