Underwriting Risk Audit Consultant I

Banner Life family of companies • Frederick, MD

1d • $109,900 - $135,000 • Remote

About The Position

The Underwriting Risk Audit Consultant conducts real-time audit file examinations for Underwriters at grades E5, E6, and E7. The role reviews approved applications within the company’s retention to ensure accepted risks comply with company underwriting standards, preserve mortality and pricing integrity, and meet product-quality expectations. The consultant also conducts Post Issue APS (PIA) file reviews and identifies inconsistencies in underwriting processes or risk-classification criteria.

Requirements

• Minimum 8 years of individual life underwriting experience.
• Working knowledge of Microsoft Word, Excel, Access, and PowerPoint.
• Working knowledge of underwriting and the policy-issue process.
• Extensive experience with large-case and impaired-risk underwriting.

Nice To Haves

• BS/BA degree or applicable work experience.
• Industry coursework such as FALU, CLU, ChFC, or LOMA.

Responsibilities

• Identify risks that were not underwritten in compliance with company standards and report errors or infractions to the VP, Underwriting Audit.
• Review all randomly selected approved cases daily for compliance with company underwriting standards.
• Report findings requiring further review or management action to the VP, Underwriting Audit.
• Communicate with Underwriting Management as needed when file examinations uncover noncompliance with company underwriting standards.
• Document file-examination results, identifying specific areas of noncompliance or deficient underwriting.
• Recommend potential improvements to underwriting training and address deficiencies of individual underwriters with Underwriting Audit or Management.
• Conduct quality-control reviews to identify administrative errors that affect the quality of the product delivered to consumers.
• Perform ad hoc audits of individual underwriters when requested by Underwriting Management or directed by the Chief Underwriter or Chief Medical Director.
• Report inconsistencies or deficiencies in the risk-selection process identified during file examinations to Underwriting Audit or Management.
• Complete other assignments or functions as directed.

Benefits

• Health, life, and dental insurance.
• 401(k) with company match up to 6%.
• Pension package.
• 20 vacation days and 10 sick days, accrued bi-weekly.
• 9 paid holidays throughout the calendar year.
• Wellbeing initiatives.
• Professional development, support, and mentoring.
• Time off to volunteer.
• The total compensation package may include a sign-on bonus, long-term incentives, and annual bonuses; the role is eligible for the Annual Incentive Plan with a current target payment of 20% of base salary, subject to corporate and individual performance.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: No Education Listed