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Internal Premium Auditor
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. Benefits include a hybrid and flexible work environment, health/dental insurance that includes supplemented dependent care coverage, generous PTO, student loan payback, a bonus program, 401k with match and much more!! 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. Apply today and discover why SFM employees choose to stay!! 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 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 considered an entry level position within SFM In this role, you will perform audits on worker’s compensation insurance policies and true up the policy terms on an annual basis. You will conduct internal premium audits using a clients payroll, review the proper class codes and subcontractor exposure to calculate the final premium for the policyholders. Audits are done per the respective business’s procedures or client service instructions-Audits are done accurately and timely on less complex accounts with premiums typically less than $10,000. This position will be working with the MN and WI Assigned Risk Pool. Most audits are done in a virtual setting. You will perform these audits from your home or in our Corporate offices located in Bloomington, MN. SFM offers a hybrid work environment.
What You Will Be Doing
Internal Audits
Performs internet (MyPayroll), mail-form or telephone premium audits 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; or two years’ experience reviewing and processing premium audits or working with financial data in an accounting, business office, bank or insurance environment.
Workers’ compensation and/or casualty insurance auditing experience desired.
Excellent customer service skills.
Good math skills and knowledge of accounting practices with analytical capabilities and detail oriented.
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.
Ability to comprehend and interpret policies, procedures, laws, regulations and guidelines.
Proficient in MS Office software applications (Excel, Word, etc.).
Excellent time management skills and is able to work well within a team or individually.
Physical Requirements
Regular attendance is required. Work takes place in a semi paperless environment within an office setting, using standard office equipment such as computers, phones, and photocopiers, which requires being stationary for extended periods of time. While performing the duties of this 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. 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 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.
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 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.
Join us!! Click Apply Now
Watch Videos to learn more about SFM’s careers and culture.
SFM Mutual Insurance Company and each of its parent companies, subsidiaries and/or affiliated companies are Equal Opportunity/Affirmative Action Employers. SFM provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, status with regard to public assistance, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
SFM Companies, EEO/AA Employers. SFM is a participant of E-Verify. Applicants have rights under Federal Employment Laws.Estimated Salary: $20 to $28 per hour based on qualifications.
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. Benefits include a hybrid and flexible work environment, health/dental insurance that includes supplemented dependent care coverage, generous PTO, student loan payback, a bonus program, 401k with match and much more!! 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. Apply today and discover why SFM employees choose to stay!! 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 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 considered an entry level position within SFM In this role, you will perform audits on worker’s compensation insurance policies and true up the policy terms on an annual basis. You will conduct internal premium audits using a clients payroll, review the proper class codes and subcontractor exposure to calculate the final premium for the policyholders. Audits are done per the respective business’s procedures or client service instructions-Audits are done accurately and timely on less complex accounts with premiums typically less than $10,000. This position will be working with the MN and WI Assigned Risk Pool. Most audits are done in a virtual setting. You will perform these audits from your home or in our Corporate offices located in Bloomington, MN. SFM offers a hybrid work environment.
What You Will Be Doing
Internal Audits
Performs internet (MyPayroll), mail-form or telephone premium audits 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; or two years’ experience reviewing and processing premium audits or working with financial data in an accounting, business office, bank or insurance environment.
Workers’ compensation and/or casualty insurance auditing experience desired.
Excellent customer service skills.
Good math skills and knowledge of accounting practices with analytical capabilities and detail oriented.
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.
Ability to comprehend and interpret policies, procedures, laws, regulations and guidelines.
Proficient in MS Office software applications (Excel, Word, etc.).
Excellent time management skills and is able to work well within a team or individually.
Physical Requirements
Regular attendance is required. Work takes place in a semi paperless environment within an office setting, using standard office equipment such as computers, phones, and photocopiers, which requires being stationary for extended periods of time. While performing the duties of this 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. 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 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.
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 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.
Join us!! Click Apply Now
Watch Videos to learn more about SFM’s careers and culture.
SFM Mutual Insurance Company and each of its parent companies, subsidiaries and/or affiliated companies are Equal Opportunity/Affirmative Action Employers. SFM provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, status with regard to public assistance, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
SFM Companies, EEO/AA Employers. SFM is a participant of E-Verify. Applicants have rights under Federal Employment Laws.Estimated Salary: $20 to $28 per hour based on qualifications.
