Insurance Premium Auditor-Workers' Compensation

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.

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 
• Pet insurance
• Generous PTO
• 9 paid holidays 
• Paid parental leave
• Annual company-wide volunteer day
• Discounts on gym memberships, fitness apps and weight loss programs
• Adoption financial assistance

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

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. We will provide you training to effectively 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. 

What You Will Be Doing

• Performs premium audits electronically, paper copies or telephonically as assigned on less complex accounts with premiums typically less than $10,000. 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. reconciling the appropriate job classification code with the code reported by the policyholder and adjusting premium accordingly;
  • determining 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.
• Summarizes all exposure information in accordance with policy contract, terms, such as MWCIA, NCCI, WCRB and MWCARP requirements, state-applicable rules, and Company best practices. Communicates audit results to the policyholder and reconciles any differences.  Conveys pertinent information gained or determined by analysis of the policyholder’s records to agents, marketing underwriters, and other team members.
• Processes audits to determine current premium base by entering audit results in the database.
• Takes advantage of learning opportunities to develop, update and expand skills, knowledge and abilities and applies learning. Keeps apprised of current audit rules and regulations and company best practices.
• Provides 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. Maintains appropriate interactions with persons both within the organization and externally.
• Handles the dispute process according to SFM’s specifications or the other contract, working with policyholder, agent, and other entities as needed.

What We'll Love About You 

• 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, or something similar.
• Workers’ compensation and/or casualty insurance auditing experience desired.
• Excellent customer service skills.
• Good math skills and knowledge of accounting practices along with analytical capabilities with an eye for details.
• 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.
• Proficient in MS Office software applications (Excel, Word, etc.).
• 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.  Must be able to be in office when required. While performing the duties of this job, the employee is regularly required to talk or hear. 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. This 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.

*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.

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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 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.