Risk Management & Premium Auditor Representative

SFM - The Work Comp Experts; Madison (WI); Remote; USD 66,000 - 92,000; Full time

Benefits offered by this job

Affordable Medical, Dental, and Vision Insurance

Flexible hybrid work environment

401(k) plans with company match

Paid parental leave

Discounts on gym memberships

Job summary

A leading insurance provider is seeking a Risk Management & Premium Auditor Representative to conduct premium audits and risk assessments in Wisconsin. The role involves evaluating workplace safety and compliance with insurance policies. Candidates should have a Bachelor’s degree, strong analytical and communication skills, and be able to work collaboratively. This position is remote but requires residency in Wisconsin. Competitive pay and comprehensive benefits are offered.

Responsibilities

• Conduct premium audits and risk assessments.
• Evaluate physical premises and safety policies at clients' businesses.
• Analyze financial reconciliations and payroll records.
• Conduct loss prevention surveys and provide risk evaluations.

Skills

Organizational skills

Analytical skills

Communication skills

Customer service

Problem-solving skills

Detail-oriented

Education

Bachelor's degree in business, insurance or related field

Tools

MS Office

Job description

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SFM - The Work Comp Experts provided pay range

This range is provided by SFM - The Work Comp Experts. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

Base pay range

$66,000.00/yr - $92,000.00/yr

Premium Audit & Loss Assessment Representative

SFM – The Work Comp Experts

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 a little 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. SFM is an employee centric organization, and we believe that your success is our success. Our benefits are designed to help you navigate your professional and personal journey. Our core values are our guiding principles, and not simply words; SFM stresses the importance of taking care of the injured worker and our business customers.

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. Being able to work in a collaborative environment is key to being successful at SFM. We believe that our exceptional and motivated employees are our greatest strength and we are committed to creating the best work environment to ensure your success. At SFM, the work you do truly makes a difference in people's lives. Apply today and discover why SFM employees choose to stay!!

Our benefits include:

• 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

Visit our careers page to learn more about working at SFM.

The role

The Premium Audit and Risk Management Consultant is a blended role conducting both premium audits and risk assessments related to Worker’s Compensation policies. When you perform a risk assessment, you will evaluate the physical premises, equipment, materials, work practices, and safety policies at clients businesses to ensure the work environment is safe for employees. When auditing the clients insurance policy, you will look at business records such as payroll, sales and/or cost records, and verify class codes assigned per industry to determine if the appropriate premium has been charged regarding their Workers’ Compensation Insurance Policy. Premium audits and loss prevention assessments will take place virtually, at a policyholder’s place of business or other location to establish appropriate classifications, exposures, risks and striving for injury prevention. This is a customer focused position and being able to work collaboratively in a multifunctional team is key to being successful in this role. This is a work from home position, and you must live in Wisconsin in or around Madison, Wausau, Stevens Point or Milwaukee, Wisconsin. This position offers a company car.

What You Will Be Doing

Premium Audit Reviews

Conducts record and interview audits of policyholders for the respective business to determine current premium base by securing adequate records, discovering all exposures that need to be covered, and developing proper basis of premium in accordance with NCCI, MWCIA, state-applicable rules and Company best practices. This includes:

• Analyzing the policyholder’s financial reconciliations to ensure a match
• comparing the policyholder’s payroll records with the estimated or actual payroll reported to Superior Point and SFM Mutual;
• determining the appropriate job classification codes for the policyholder’s employees by observing the workforce and questioning the policyholder;
• reconciling the appropriate job classification code with the code reported by the policyholder to Superior Point and SFM Mutual and adjusting premium accordingly;
• determining the scope of operations by reviewing contracts between the policyholder and other entities and applying IRS documents and workers’ compensation statutes and rules to determine whether a true independent contractor relationship exists.

Summarizes all exposure information in accordance with policy contract, terms, NCCI, MWCIA state-applicable rules, and Company best practices. Communicates audit results to the policyholder and reconciles any differences. Conveys physical, financial and other pertinent information gained or determined by analysis of the policyholder’s operations and financial structure to agents, policyholders services, and other team members.

• Performs loss prevention surveys for Assigned Risk Plan policyholder accounts by performing onsite inspections, completing surveys and providing risk evaluations; will consult with policyholders as needed.
• Conducts research, data collection, evaluation and analysis in order to make recommendations to control customers source of risk, loss and/or costs and develops recommendations for constructive changes and improvements to policyholders’ management and safety practices and generates reports of findings and recommendations outlining present and most likely future loss potentials and other noteworthy items.
• Plans and presents safety-related educational programs to control exposures for the account in accordance with the servicing carrier requirements and reviews the needs of the account to provide education and or supplies to the policyholder.
• Strives for professional development that is directed toward field activities by keeping informed of regulatory issues, technical developments and Company best practices in loss prevention and the assigned risk plan team (including policy services and claims staff).

What We'll Love About You

• Bachelor’s degree in business, insurance or related field; in lieu of a Bachelor’s Degree, four years’ of applicable work experience is acceptable.
• Two or more years’ experience working in the insurance industry handling either workers compensation and/or commercial lines, insurance policy related matters.
• Accounting, bookkeeping and or payroll experience is a plus.
• Residual Market experience is preferred.
• Industry designations, including Associate in Risk Management, Certified Engineering Technician, Certified Safety Professional, or a master’s degree in safety and Health is a plus.
• Effective organizational skills including the ability to manage multiple projects and work with minimal direction.
• Proven ability to analyze and gather complex information.
• Basic knowledge of underwriting skills.
• Strong presentation skills and the ability to train and teach others.
• knowledge of state applicable Workers’ Compensation rules and regulations, NCCI rules and its application to underwriting.
• Demonstrated understanding of insurance finance.
• Ability to evaluate accounts for acceptability and insurability.
• Excellent written and oral communication skills in order to interact in a team environment and to collaborate with other business units and a diverse group of customers.
• Strong customer service and interpersonal skills.
• Demonstrates positive teaming skills focused on team results.
• Excellent Problem-solving and decision-making skills with an eye for detail.
• Demonstrates a high level of understanding and willingness to learn the various fundamentals of insurance finance.
• Proficient in MS Office software applications (Excel, Word, etc.).
• Ability to function in a highly collaborative, team.
• Valid driver’s license.
• Ability to travel and work unstructured hours.

Physical Requirements: Regular attendance is required. Work takes place in a semi paperless environment within an office setting or home office, using standard office equipment such as computers, phones, and photocopiers, which requires being stationary for extended periods of time. While performing the duties of the job, the employee is regularly required to talk or hear, and maintain concentration and focus. The employee frequently is required to stand; walk; use hands and fingers, handle or feel; and reach with hands and arms and work with close vision. Occasional lifting (approximately 25 to 35 pounds). Ability to walk, climb stairs and climb ladders, work in high and precarious places, bend stoop and crouch and wear personal protective equipment on policyholder sites as needed. Regularly exposed to different work environments which includes, but is not limited to dusty, noisy, cold, hot, agricultural environments and a variety of weather conditions

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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.

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

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SFM Companies, EEO/AA Employers. SFM is a participant of E-Verify. Applicants have rights under Federal Employment Laws.

Seniority level

• Seniority level

  Associate

Employment type

• Employment type

  Full-time

Job function

• Job function

  Accounting/Auditing, Quality Assurance, and General Business

• Industries

  Insurance

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Inferred from the description for this job

Medical insurance

Vision insurance

401(k)

Paid paternity leave

Paid maternity leave

Tuition assistance

Student loan assistance

Disability insurance

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