Underwriting Audit Specialist

General Search & Recruitement Published: December 12, 2017

Description

Underwriting Audit Specialist

Wisconsin

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.

     

     


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