Underwriting Audit Specialist
- Employer
- C. A. Moore & Associates
- Location
- Wausau, Wisconsin
- Salary
- Up to $110,000 per year + benefits, 401K and bonus opportunity
- Posted
- Dec 28, 2017
- Closes
- Feb 26, 2018
- Ref
- JOS1996
- Category
- Underwriting
- Job Type
- Full Time
- Career Level
- Not Specified
Desirable Central Wisconsin Location
Manage and conduct independent underwriting audits for all lines of business for the underwriting operations of our growing client, including subsidiary companies and their respective underwriters or producers with delegated underwriting authority. Summarizes findings in audit reports and provides recommendations to the affected business and corporate underwriting. Follows up on all recommendations until resolution of the audit subject matter is achieved satisfactorily.
Duties and Responsibilities
- Plan and establish audit schedules assuring all underwriting operations are audited on an agreed time-line.
- Develop and maintain internal audit standards and procedures, including documentation, auditing criteria, forms, and specific areas to be covered.
- Develop and maintain appropriate audit criteria based upon specific underwriting authority delegated to each subsidiary and their respective underwriters including employees, contractors or producers that may hold underwriting authority such as classes of business, limits of insurance, pricing and policy terms and conditions.
- Review files, analyzing quality and selection, quoting, pricing, and insurance of new and renewal business to determine if it is in accordance with Company’s current underwriting guidelines.
- Write audit reports including findings and recommendations and have them reviewed and signed off by the Director of internal audit.
- Work with affected underwriting operations to develop responses and necessary actions responsive to audit findings.
- Maintain written responses to audit findings and follow-up until all issues have been resolved.
- Create and lead intercompany audit teams auditing underwriting operations against audit criteria.
- Provide direction into corporate underwriting guidelines, philosophies and general directive.
- Actively look for opportunities and recommend efficiencies to improve underwriting performance and processes.
- Some travel, up to 25%, will be required, with overnight stays necessary.
Required Skills
- Understand state and federal regulatory environments.
- Capable of effectively reviewing and auditing financial and other files and making decisions from the findings.
- Must have in-depth knowledge of the underwriting function and insurance coverage, underwriting process and compliance procedures for a variety of risks including EXCESS AND SURPLUS lines of business.
- Proven ability to be a critical thinker to identify and analyze exposures, recognize areas of concern, and develop appropriate solutions.
- Ability to maintain strong working relationships with all underwriting operations including subsidiary companies.
- Well-developed ability to explain decisions to others and negotiate appropriate solutions.
- Demonstrates effective organization and workload management skills.
- Strong attention to detail.
- Strong analytical skills required.
- Proven ability to work independently.
- Ability to travel determined by business needs.
Desired Experience
- Bachelor’s degree or a combination of intermediate to complex account underwriting experience and industry specialized training will be considered in place of a bachelor’s degree.
- Prior auditing experience preferred, can train MOST IMPORTANT TO HAVE STRONG COMMERCIAL UNDERWRITING AND E&S A MAJOR PLUS!
- Solid experience in a professional insurance position in property/casualty insurance plus completion of the AU designation or two parts of CPCU desired.
- Significant knowledge of the property and casualty industry is required, with knowledge of surplus and specialty lines preferred.