Job DescriptionThe Premium Audit Manager oversees the newly centralized Premium Audit function, which includes owning the end-to-end premium audit process, overseeing vendors who execute Argo's premium audits, and owning the resolution of escalated audit issues from vendors, insureds, brokers, and internal colleagues. The objectives of this role include: freeing up underwriter capacity by removing underwriting roles from premium audit decisions and activities as much as possible; ensuring that Argo receives the fullest extent of available audit premium across eligible lines of business; minimizing expenses related to the premium audit function; helping ensure that owed balance are paid on time.
Responsibilities:
- Complete the build-out of the centralized premium audit function.
- Manage and continuously improve Argo's end-to-end premium audit process, including making supported recommendations for people, process, and technological improvements.
- Review and update premium audit selection rules based on internal and external governing guidelines and stakeholders.
- Oversee the vendors that perform premium audits on Argo's behalf and hold them accountable to service levels, quality, and overall spend.
- Identify key metrics for the Premium Audit function and deliver regular metric and status updates to key stakeholders.
- Ensure audit results are communicated to customers and partners in a professional, timely, and accurate manner.
- Handle audit dispute resolutions independently and in collaboration with the business and other support functions in a timely manner.
- Ensure that premium audits and related endorsements are produced, booked, and invoiced timely and accurately.
- Work with Accounts Receivable and Marketing to ensure timely collection of audit premiums.
- Provide feedback to business units on trends and training opportunities based on review of premium audit trends.
- Keep up with ISO and PAAS bulletins and other industry developments impacting premium audit.
- Maintain compliance of Argo's premium audit practices with state and other regulatory agencies and Argo underwriting guidelines.
- Provide input and recommendations on expanding premium audit into other business units and/or products.
Qualifications:
- High school diploma or GED equivalent and related industry experience required. Bachelor's degree preferred.
- Completion of one or more of PAAS, ISO and/or NCCI professional development programs is preferred.
- 5 years (minimum) Premium Audit experience.
- Experience managing third party premium audit vendors.
- Deep knowledge of insurance premium audit best practices across Workers Comp, Auto, General Liability, Inland Marine, and Environmental.
- Deep knowledge of classification guidelines across Workers Comp, Auto, General Liability, Inland Marine, and Environmental.
- Strong working knowledge of accounting and financial documentation as relates to premium justification.
- Knowledge of third-party premium audit vendor market (e.g., vendors, reputation, quality, pricing).
- Strong attention to detail.
- Strong communication skills.
- Ability to work efficiently and effectively with little or no supervision.
- Highly collaborative.
The salary range provided reflects targeted hiring locations and will be commensurate with the candidate's experience, skills, and qualifications. Compensation may vary for candidates in other locations based on geographic differentials, cost of labor, and internal equity considerations.
- New York City, NY: $120,000 - 130,000
- Chicago, IL: $108,000 - $130,000
- Richmond: $100,000 - 130,000
Benefits and CompensationWe offer a competitive compensation package, performance-based incentives, and a comprehensive benefits program-including health, dental, vision, 401(k) with company match, paid time off, and professional development opportunities.
