Underwriting Analyst

NYCIRB•New York, NY

3d•$55,000 - $75,000

About The Position

The New York Compensation Insurance Rating Board (NYCIRB) is a non-profit, unincorporated association of insurance carriers. NYCIRB is licensed by the New York State Department of Financial Services as the official workers’ compensation rate service organization in the State. In this capacity, NYCIRB provides a variety of services to the workers’ compensation industry, including data collection and analysis, and the development of loss costs and rating values. These activities, along with analytical tools, research, and customer focused services, are intended to foster a stable and healthy workers’ compensation system in the State of New York. The Analyst I performs virtual audits and inspections of employers’ operations and workplaces. He/she will work with employers directly to gather payroll and operational data to prepare reports. The Analyst will review, compare and finalize audit and inspection reports. He/she will also determine the assignment of the proper classification(s) for business operations based upon audit and inspection findings or other information provided by a carrier, employer, or employer representative. He/she works independently and must be familiar with classification, payroll, loss costs and other policy charges. He/she will process Construction Classification Premium Adjustment Program (CPAP) applications. The Analyst I must effectively communicate to employers the authority of the Rating Board and the purpose of audits and inspections. He/she must be able to work with minimal supervision and be a motivated self-starter.

Requirements

1 year of Workers’ Compensation insurance industry experience, or similar related experience.
Excellent written and oral communication skills.
Excellent analytical skills and attention to detail.
Excellent organizational skills.
Excellent problem-solving skills
Solid typing and computer skills

Responsibilities

Upon receipt of assignments, schedule virtual appointments with employers for audits and inspections within 30 days.
Interview employers or accountants to gather the required information to perform audits and inspections.
Review employers accounting records, which include payroll records, contracts, and tax reports. Reconcile payroll amounts to employee data and identify subcontractors.
Summarize payrolls by classification, apply proper rates, calculate premiums, and compare his/her review results to carriers’ review results.
Provide comments concerning premium verification and reasons for differences between the Rating Board’s premium verification audit and the carrier’s premium verification audit.
Verify and complete premium comparisons of audits.
Review basic inspection and audit reports submitted by employers and other pertinent information to determine the proper classification(s) for an employer in accordance with the New York Workers Compensation and Employers Liability Insurance Manual.
Interact with Rating Board staff regarding the status and or details of the reports to finalize the audit and inspection reviews.
Respond to written and telephone inquiries from employers, carriers, agents, brokers, or other employer representatives.
Assist in various studies and projects conducted within the Underwriting Services Department.
Manage and maintain assignment inventory.
Maintain productivity standards as determined by the Underwriting Services Department.
Participate in meetings to resolve classification and audit issues.
Other duties as assigned and deemed necessary by management.