Premium Audit Specialist at Penn National Insurance in Harrisburg, Pennsylvania

Job Description:

Penn National Insurance has an incredible opportunity to join our world-class team as a Premium Audit Specialist! This is a remote position with up to 20% travel required. The ideal candidate will reside in Pennsylvania. PA workers' comp experience desired.

The Premium Audit Specialist is responsible for the timely and accurate examination and verification of financial records of insureds to determine the correct premium basis amounts for insurance premium charges in compliance with insurance regulatory requirements, test audits, and quality control.

COMPETENCIES AND ESSENTIAL DUTIES OF THE PREMIUM AUDIT SPECIALIST

Business Acumen

• Gather information using email, phone, and Nexus relative to the insured’s operation to determine the nature of the entity and applicable insurance exposures.


• Provide explanation/instruction to insureds as necessary for proper record keeping of insurance exposures, rule applicability, and classification of employees.


• Utilize discretion, professionalism, ethical conduct, impartiality, and confidentiality while working with insureds and their financial records.


• Assist with training employees when requested by supervisor, manager, VP, or customers.

Results Oriented

• May either complete phone audits or schedule and complete physical audits based on company requirements, guidelines, and procedures. 


• Actively communicate with underwriting personnel and/or Premium Audit Supervisor when any unusual matters or changes in insured’s operations or financial conditions are identified.


• Proposes ideas and suggests new approaches to tackling work tasks to help drive efficiency and organizational success.

Time & Priority Management

• Plan, organize, and schedule audit assignments so that audits are completed in a timely and effective manner. Test audit administration.


• Perform quality reviews as needed.

Decision Making

• Analyze and evaluate an insured’s financial records to ensure proper recording of payrolls, receipts, and other premium bases as they apply to insurance classifications and charges.


• Organize independent judgment (based on interpretation of insurance manual/rules and their applicability to varied and often unique business operations).


• Performs various projects requested or assigned by the manager.

SPECIAL RELATIONSHIPS FOR THE PREMIUM AUDIT SPECIALIST

• This position reports to the Premium Audit Manager.


• Internally, the incumbent has frequent contact with Branch Underwriting to provide and/or obtain information on an insured’s operations or to discuss details of the audit information provided.


• Externally, the incumbent contacts include insureds, agents, and other persons responsible for the insured’s financial records (bookkeepers, accountants, etc.)


• The incumbent may also work with regulatory authorities when dealing with test audit administration.

QUALIFICATIONS FOR THE PREMIUM AUDIT SPECIALIST

Education/Credentials

• Bachelor’s Degree required, preferably in an Accounting or Business Major; or 5 or more years of relevant experience in a premium audit or accounting position within the property/casualty insurance industry


• Continuing education in insurance and premium audit courses, such as APA or CPCU preferred

Experience

• Minimum of 1 year of experience in property/casualty insurance premium auditing.

Technical/Professional Knowledge

• Must possess an in-depth understanding of accounting principles and bookkeeping concepts


• Must possess thorough knowledge of insurance coverages and classifications, with working knowledge of Workers’ Compensation and ISO General Liability rules, manuals, and industry practices


• Excellent interpersonal skills


• Excellent oral and written communication skills


• Good planning and organizational skills


• Good time management skills


• Demonstrated practical understanding of a variety of business operations and job functions


• Demonstrated analytical skills and attention to detail


• Good PC skills with a focus on Microsoft Office Suite


• Must be able to work independently with minimal supervision

JOB REQUIREMENTS (as required by ADA – Americans with Disabilities Act)

• This position is primarily a sedentary position that requires occasional standing and walking throughout the office environment.


• Must be able to see and effectively use a computer monitor.


• Must be able to operate a computer, keyboard and applicable printers and other general office equipment.


• Must be able to access and enter information accurately using automated systems.


• Must be able to hear and communicate via the telephone and/or monitoring devices to both internal and external clients.


• Must be able to present information to individuals and groups.


• Must be able to interpret and apply concepts that may or may not be based upon established guidelines.


• Must be able to maintain acceptable attendance and adhere to scheduled work hours.


• Must have a valid driver’s license and be able to operate a motor vehicle.

Only candidates from the following states will be considered for positions at Penn National Insurance: Alabama, Delaware, Iowa, Maryland, Minnesota, North Carolina, New Jersey, Pennsylvania, South Carolina, Tennessee, Virginia, Wisconsin.

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