Farmers Insurance Premium Audit Technical Analyst I in Woodland Hills, California
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Focuses on the technical aspect of the premium audit process, by evaluating and assuring that final audits are processed to state and company standards. Responsible for responding to state bureau, agent, insured, third party audit vendor or other department inquiries regarding audit discrepancies or concerns. Evaluates applicable dispute sources and if necessary, amends premium audits in accordance with state regulations and/or corporate standards. In addition, analyst conducts research of the state bureau websites, the National Council on Compensation Insurance and the national Premium Audit Advisory Service, to stay abreast with regulations and standards, allowing him/her to provide technical team support in reference to processes and state regulations. This position is 100% customer facing. The primary responsibilities are vendor management, including monitoring of service level agreements, quality assessments and invoicing.
Essential Job Functions
Analyzes and reviews completed audit reports by audit vendors or in-house audits to validate they are processed in accordance with state regulations and/or corporate standards. Keeps updated on regulations and standards through online research of the state bureau websites, the National Council on Compensation Insurance and the National Premium Audit Advisory Service. Communicates with leadership on any patterns or trends found in the quality analysis and review of the audit reports. Handles Premium Audit correspondence via email or phone from agents, insured’s, third party audit vendors, other departments and state bureaus regarding the processing of or discrepancies found in final premium audits. Requests supporting documentation from agents and insureds that assist in the review of the processing of the audit or discrepancy request. Once a decision is made on the request, sends communication to correspondent along with explicatory documentation. Processes final premium payroll audits and revisions for Workers’ Compensation policies, documenting the results and archiving required sources (e.g. Federal 941’s, payroll summaries, State Unemployment Income Reports, etc.) within a web based final audit management system (Nexus). Assists with coordinating requests from regulatory bodies, such as market conduct exams, state bureau test audit programs, and assists in researching and responding to Department of Insurance complaints. Provides technical support to the premium audit team, in reference to processes and state regulations. Serves as a point of contact for anyone in the business. Other duties as assigned.
High school diploma or equivalent required. Bachelor’s degree preferred.
- Three or more years of insurance experience required
- Workers' Compensation Insurance experience preferred
- Knowledge of state bureau rules and classification scopes required
- Strong verbal and written communications skills a must
- Strong organizational skills and ability to multi-task with ease
- Ability to generate, analyze and report via Excel, Powerpoint and Access
- Exceptional analytical thinking skills to make timely, appropriate decisions and recommendations after reviewing all relevant information
- Detail oriented and strong conflict resolutions skills
Special Skill Requirement
Knowledge of regulatory requirements a plus Exceptional written and verbal communication Strong conflict resolution skills
Farmers is an equal opportunity employer, committed to the strength of a diverse workforce.
Job: *Strategic Management & Administration
Organization: *Farmers Insurance
Title: Premium Audit Technical Analyst I
Location: California-Woodland Hills
Requisition ID: 19000111