Self-Insurance Auditor

$3,845 - $5,768/Yr

State of Kentucky - Frankfort, KY

Full-time - Entry Level

Frankfort, KY

Executive, Legislative, and Other General Government Support

About the position

The Education and Labor Cabinet's mission is to educate, prepare and train Kentucky's current and future workforces. Our goal is to create and make continuous improvements to an education and workforce system that prepares Kentuckians for the 21st century workforce, while helping businesses find the skilled workers they need to compete and create jobs in the Commonwealth. The Education and Labor Cabinet is seeking to fill a Self-Insurance Auditor position located within the Department of Workers' Claims (DWC), Division of Security & Compliance.

Responsibilities

• Calculate security requirements for current, former, and new self-insured employers to ensure compliance with KRS 342 & 803 KAR 25:021.
• Verify indemnity and medical reserve estimates in accordance with DWC policies and procedures.
• Provide support to DWC contract-based actuary regarding the utilization of DWC proprietary actuarial model and aid in model updates as needed.
• Perform indemnity and medical reserve reviews of current and former self-insured employers.
• Analyze claims systems and practices of Self-Insured employers and Third-Party Administrators (TPA's).
• Assist self-insured employers in establishing the simulated premium amount to ensure compliance with KRS 342.0011.
• Verify payroll and loss report information adheres with DWC policies and procedures.
• Revise simulated premium amounts when required.
• Maintain communication and provide support to Kentucky Workers' Compensation Funding Commission (KWCFC) as needed.
• Evaluate the financial condition of self-insured employers to determine approval for certification pursuant to KRS 342.347 and other applicable statutes and regulations.
• Analyze the financial condition of former self-insured employers to ensure they meet Departmental standards as required.

Requirements

• Graduate of a college or university with a bachelor's degree (which includes twenty semester hours or thirty quarter hours in pure accounting courses).
• Three years of experience in financial management, auditing, management accounting, or financial analysis.

Nice-to-haves

• Experience in insurance auditing in an insurance regulatory agency, the insurance industry, or in a CPA firm.
• Certification as a Certified Public Accountant (CPA).

Benefits

• Full-time employment
• Eligible for overtime pay