Premium Auditor (Insurance, External, Physical, Finance)

Bloomington, Minnesota
Depends on qualifications.
Jul 19, 2017
Aug 18, 2017
Job Type
Employment Status
Full Time

SFM -- The Work Comp Experts. Work Somewhere You Love.


--The role--

Premium Auditors perform accurate and timely physical, on-site, audits of policyholders' payroll records, financial documents, and related items to determine final earned workers' comp insurance premiums. They secure and summarize all risks/exposures and ensure appropriate industry and job classification codes. The ability to interact with, and educate, clients face-to-face is key.

They conduct interviews and audit records to determine current policy premiums by:

  • Analyzing the policyholder’s financial reconciliations to ensure a match;
  • Comparing the policyholder’s payroll records with the estimated or actual payroll reported to SFM;
  • Determining the appropriate job classification codes for the policyholder’s employees by observing the workforce and questioning the policyholder;
  • Reconciling the appropriate job classification code with the code reported by the policyholder to SFM and adjusting premium accordingly;
  • Determining the scope of operations by reviewing contracts between the policyholder and other entities and applying IRS revenue rulings and workers’ compensation statutes and rules to determine whether a true independent contractor relationship exists.


--We’re looking for--

  • Bachelor's degree in finance, accounting, insurance or related field, strongly preferred.
  • 2+ years of field auditing -OR- 3+ years of internal auditing in WC/Property/Casualty is preferred...however...
  • We are able and willing to train the right candidate.
  • Knowledge of NCCI and state applicable workers’ compensation rules, helpful.
  • Excellent math skills and strong knowledge of accounting practices.
  • Highly organized and accurate with strong attention to detail; ability to work independently; ability to plan own schedule.
  • Strong communication & customer service skills including; ability to listen and speak clearly and concisely to customers whom have a wide variety of insurance comprehension; this includes face-to-face interaction.
  • Ability and flexibility to travel on a daily basis with occasional overnight stays in order to meet with policyholders and agents; out-of-state travel approx. once per quarter.
  • Must be able to operate a vehicle, pass a motor vehicle records check, and pre-employment physical.
  • Ability to work a variable schedule, as business necessitates.


--Join us--


--About us--

Since 1983, SFM’s mission has been to be the workers’ compensation partner of choice for agents, employers, and their workers. While we’ve expanded to over 18,000 customers in the Midwest, and have grown our offerings to include vocational rehab, safe patient handling, loss prevention, medical services (and more!), our focus continues to be unrivaled customer service, injury prevention, and results.

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.

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