SFM - The Work Comp Experts
Insurance Premium Auditor-Workers' Compensation
SFM - The Work Comp Experts, Bloomington, Minnesota, United States
Insurance Premium Auditor - Workers' Compensation
SFM - The Work Comp Experts
Work somewhere you love
SFM is unique in that we are small enough that your voice is heard but has all the benefits and perks of a larger employer. We value your opinion, help you reach your goals, and make it easy for you to maintain work-life balance. SFM is committed to creating the best work environment and believes that our exceptional and motivated employees are our greatest strength. SFM emphasizes work life balance, and our benefit package is designed to assist you navigate your work-life journey.
Benefits
Affordable Medical, Dental, Vision Insurance, HSA, FSA
Flexible hybrid work environment
Traditional and Roth 401(k) plans with company match
Company contributions to help pay off student loans
Monthly home internet allowance
Free life insurance, STD & LTD
Opportunities for annual gainshare bonus
Generous PTO
9 paid holidays
Paid parental leave
Discounts on gym memberships, fitness apps, and weight loss programs
About SFM Since 1983, our mission has been to be the workers’ compensation partner of choice for agents, employers and their workers. In that time, we’ve expanded to well over 25,000 customers in the Midwest and grown our offerings to include vocational rehabilitation, loss prevention, medical services and more. Though much has changed through the years, our focus continues to be unrivaled customer service, safety, and providing better outcomes for employers and injured workers.
The Role The Internal Premium Auditor is responsible for conducting premium audits on worker’s compensation insurance policies to ensure that the insurance premiums our policyholders are paying are correct. To achieve this, you will review payroll records and other business records to true up the policy on an annual basis. You will receive training to evaluate a customer’s payroll, determine proper class codes and subcontractor exposure to calculate the final premium for our customers. Audits are done per the respective business’s procedures or client service instructions. Excellent customer service skills are needed as you will be contacting policyholders via email and or phone, and you must have effective communication and analytical skills. Most audits are done in a virtual setting, so you will obtain most information electronically and work from your desk to complete the audits. Hybrid work is offered, and some in office time is needed. Applicants will need to live in Minnesota.
Responsibilities
Perform Internet (MyPayroll), mail‑form or telephone premium audits on less complex accounts with premiums typically less than $10,000.
Analyze the policyholder’s financial reconciliations to ensure a match.
Compare the policyholder’s payroll records with the estimated or actual payroll reported, reconciling appropriate job classification code with the code reported by the policyholder and adjusting premium accordingly.
Determine the scope of operations by reviewing contracts between the policyholder and other entities and applying workers’ compensation statutes and rules to determine whether a true independent contractor relationship exists.
Summarize all exposure information in accordance with policy contract, terms, such as MWCIA, NCCI, WCRB and MWCARP requirements, state‑applicable rules, and company best practices. Communicate audit results to the policyholder and reconcile any differences. Conveys pertinent information to agents, marketing underwriters, and other team members.
Process audits to determine current premium base by entering audit results in the database.
Take advantage of learning opportunities to develop, update and expand skills, knowledge and abilities and apply learning. Keep apprised of current audit rules and regulations and company best practices.
Provide high‑quality customer service to agents and various policyholders by professionally receiving and appropriately responding to telephone inquiries related to premium billing and premium audits.
Handle the dispute process according to SFM’s specifications or the other contract, working with policyholder, agent, and other entities as needed.
Qualifications
Bachelor’s Degree or Associate’s degree with emphasis on accounting/finance or similar field preferred; or two years’ experience reviewing and processing premium audits or working with financial data in an accounting, business office, bank or insurance environment.
Workers’ compensation and/or casualty insurance auditing experience desired.
Excellent customer service skills.
Good math skills and knowledge of accounting practices with analytical capabilities and detail oriented.
Knowledge of MWCIA, NCCI, WCRB and state applicable rules is a plus.
Strong verbal and written communication skills.
A high degree of personal integrity.
Strong professional judgment, problem resolution, and critical thinking skills.
Excellent organizational skills and ability to work with minimal supervision.
Ability to comprehend and interpret policies, procedures, laws, regulations and guidelines.
Proficient in MS Office software applications (Excel, Word, etc.).
Excellent time management skills and ability to work well within a team or individually.
Ability to work in Corporate Headquarters when needed.
Physical Requirements Regular attendance is required. Work takes place in a semi paperless environment within an office setting, either on business premises or other remote location, using standard office equipment such as computers, phones, and photocopiers, which requires being stationary for extended periods of time. The employee is regularly required to talk or hear, is frequently required to stand, walk, use hands and fingers, handle or feel, and reach with hands and arms and work with a close vision. The position requires the ability to occasionally lift office products and supplies up to 20 pounds. Work is performed indoors with little to no exposure to extreme outdoor weather conditions.
Compensation * The base pay posted is just one component of SFM’s total compensation package. The salary range listed represents the full compensation range for this position. Job title and starting pay will be based on the selected candidate’s relevant knowledge, skills, abilities and/or experience, and education, if applicable as well as internal equity with other employees in the same job classification.
Equal Opportunity/EEO Statement SFM Mutual Insurance Company and each of its parent companies, subsidiaries and/or affiliated companies are Equal Opportunity/Affirmative Action Employers. All employment decisions are made without regard to race, color, religion, sex, national origin, age, sexual orientation, marital, familial, or veteran status, medical condition or disability, or any other legally protected classification. SFM Companies, EEO/AA Employers. SFM is a participant of E-Verify. Applicants have rights under Federal Employment Laws.
Job Details
Seniority level: Not Applicable
Employment type: Full‑time
Job function: Accounting/Auditing
Industries: Insurance
Referrals increase your chances of interviewing at SFM - The Work Comp Experts by 2x.
Join us! Click Apply Now.
#J-18808-Ljbffr
Work somewhere you love
SFM is unique in that we are small enough that your voice is heard but has all the benefits and perks of a larger employer. We value your opinion, help you reach your goals, and make it easy for you to maintain work-life balance. SFM is committed to creating the best work environment and believes that our exceptional and motivated employees are our greatest strength. SFM emphasizes work life balance, and our benefit package is designed to assist you navigate your work-life journey.
Benefits
Affordable Medical, Dental, Vision Insurance, HSA, FSA
Flexible hybrid work environment
Traditional and Roth 401(k) plans with company match
Company contributions to help pay off student loans
Monthly home internet allowance
Free life insurance, STD & LTD
Opportunities for annual gainshare bonus
Generous PTO
9 paid holidays
Paid parental leave
Discounts on gym memberships, fitness apps, and weight loss programs
About SFM Since 1983, our mission has been to be the workers’ compensation partner of choice for agents, employers and their workers. In that time, we’ve expanded to well over 25,000 customers in the Midwest and grown our offerings to include vocational rehabilitation, loss prevention, medical services and more. Though much has changed through the years, our focus continues to be unrivaled customer service, safety, and providing better outcomes for employers and injured workers.
The Role The Internal Premium Auditor is responsible for conducting premium audits on worker’s compensation insurance policies to ensure that the insurance premiums our policyholders are paying are correct. To achieve this, you will review payroll records and other business records to true up the policy on an annual basis. You will receive training to evaluate a customer’s payroll, determine proper class codes and subcontractor exposure to calculate the final premium for our customers. Audits are done per the respective business’s procedures or client service instructions. Excellent customer service skills are needed as you will be contacting policyholders via email and or phone, and you must have effective communication and analytical skills. Most audits are done in a virtual setting, so you will obtain most information electronically and work from your desk to complete the audits. Hybrid work is offered, and some in office time is needed. Applicants will need to live in Minnesota.
Responsibilities
Perform Internet (MyPayroll), mail‑form or telephone premium audits on less complex accounts with premiums typically less than $10,000.
Analyze the policyholder’s financial reconciliations to ensure a match.
Compare the policyholder’s payroll records with the estimated or actual payroll reported, reconciling appropriate job classification code with the code reported by the policyholder and adjusting premium accordingly.
Determine the scope of operations by reviewing contracts between the policyholder and other entities and applying workers’ compensation statutes and rules to determine whether a true independent contractor relationship exists.
Summarize all exposure information in accordance with policy contract, terms, such as MWCIA, NCCI, WCRB and MWCARP requirements, state‑applicable rules, and company best practices. Communicate audit results to the policyholder and reconcile any differences. Conveys pertinent information to agents, marketing underwriters, and other team members.
Process audits to determine current premium base by entering audit results in the database.
Take advantage of learning opportunities to develop, update and expand skills, knowledge and abilities and apply learning. Keep apprised of current audit rules and regulations and company best practices.
Provide high‑quality customer service to agents and various policyholders by professionally receiving and appropriately responding to telephone inquiries related to premium billing and premium audits.
Handle the dispute process according to SFM’s specifications or the other contract, working with policyholder, agent, and other entities as needed.
Qualifications
Bachelor’s Degree or Associate’s degree with emphasis on accounting/finance or similar field preferred; or two years’ experience reviewing and processing premium audits or working with financial data in an accounting, business office, bank or insurance environment.
Workers’ compensation and/or casualty insurance auditing experience desired.
Excellent customer service skills.
Good math skills and knowledge of accounting practices with analytical capabilities and detail oriented.
Knowledge of MWCIA, NCCI, WCRB and state applicable rules is a plus.
Strong verbal and written communication skills.
A high degree of personal integrity.
Strong professional judgment, problem resolution, and critical thinking skills.
Excellent organizational skills and ability to work with minimal supervision.
Ability to comprehend and interpret policies, procedures, laws, regulations and guidelines.
Proficient in MS Office software applications (Excel, Word, etc.).
Excellent time management skills and ability to work well within a team or individually.
Ability to work in Corporate Headquarters when needed.
Physical Requirements Regular attendance is required. Work takes place in a semi paperless environment within an office setting, either on business premises or other remote location, using standard office equipment such as computers, phones, and photocopiers, which requires being stationary for extended periods of time. The employee is regularly required to talk or hear, is frequently required to stand, walk, use hands and fingers, handle or feel, and reach with hands and arms and work with a close vision. The position requires the ability to occasionally lift office products and supplies up to 20 pounds. Work is performed indoors with little to no exposure to extreme outdoor weather conditions.
Compensation * The base pay posted is just one component of SFM’s total compensation package. The salary range listed represents the full compensation range for this position. Job title and starting pay will be based on the selected candidate’s relevant knowledge, skills, abilities and/or experience, and education, if applicable as well as internal equity with other employees in the same job classification.
Equal Opportunity/EEO Statement SFM Mutual Insurance Company and each of its parent companies, subsidiaries and/or affiliated companies are Equal Opportunity/Affirmative Action Employers. All employment decisions are made without regard to race, color, religion, sex, national origin, age, sexual orientation, marital, familial, or veteran status, medical condition or disability, or any other legally protected classification. SFM Companies, EEO/AA Employers. SFM is a participant of E-Verify. Applicants have rights under Federal Employment Laws.
Job Details
Seniority level: Not Applicable
Employment type: Full‑time
Job function: Accounting/Auditing
Industries: Insurance
Referrals increase your chances of interviewing at SFM - The Work Comp Experts by 2x.
Join us! Click Apply Now.
#J-18808-Ljbffr