Premium Audit Specialist I

At EMC, you'll put your skills to good use as an important member of our team. You can count on gaining valuable experience while contributing to the company's success. EMC strives to hire and retain the best people by engaging, developing and rewarding employees.

**This position is eligible to work from home anywhere in the United States**

Under close supervision, serves as a resource to underwriters, auditors and agents on various premium audit rules, guidelines and interpretations. Researches answers to questions from underwriters regarding new business classification, correction to the classification or change to the structure of an existing policy. Reviews completed audit reports to calculate the final earned premium by using the completed audit information and applying the proper manual rules and rates.  Researches required information and coordinates the resolution of audit disputes. Communicates final decision to underwriters, underwriting managers, agents and premium auditors. 

Essential Functions:        

• 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

• 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

• Analyzes policy information to determine the type of audit to be completed

• Evaluates the type of risk, operations, classifications, exposures, premium and related expense and recommends whether physical, phone, or mail audit should be conducted, or whether an audit should be waived

Education & Experience:

• Bachelor’s degree in accounting, finance, insurance or related field or equivalent relevant experience

• Two years of premium audit or related experience

Candidates that meet the below qualifications may be considered for a higher level:

• Bachelor’s degree in accounting, finance, insurance or related field or equivalent relevant experience

• Four years of premium audit or related experience

• Professional designations such as APA, or CPCU preferred

Knowledge, Skills & Abilities:

• 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

Per the Colorado Equal Pay for Equal Work Act, the hiring range for this position for Colorado-based team members is $58,618.44 - $75,262.27. The hiring range for other locations may vary.

Our employment practices are in accordance with the laws that prohibit discrimination due to race, color, creed, sex, sexual orientation, gender identity, genetic information, religion, age, national origin or ancestry, physical or mental disability, medical condition, veteran status, active military status, citizenship status, marital status or any other consideration made unlawful by federal, state, or local laws.

All of our locations are tobacco free including in company vehicles.