VP Premium Audit Manager

Chubb • Philadelphia, PA

2d

About The Position

The Vice President, Premium Audit is the executive leader responsible for the strategic direction, operational execution, and compliance of the Premium Audit department. The role oversees a high-volume operation using a mix of internal staff and external BPO vendors to ensure policyholder exposures are accurately captured and reported. It serves as a bridge between Underwriting, Actuarial, and Finance to support the integrity of the company’s revenue.

The VP defines and drives the enterprise-wide audit strategy, including the balance of physical, virtual, and self-audit channels. The role leads transformational initiatives such as automating audit workflows and integrating predictive analytics into audit selection, manages a multi-million-dollar departmental budget, and establishes performance frameworks and scorecard metrics for SVP-level leadership.

The position governs third-party audit firms through vendor lifecycle management, pricing negotiations, SLAs, KPIs, annual performance reviews, and preferred-vendor routing. It also uses analytics to improve premium accuracy, identify portfolio trends, and feed audit outcomes back to Underwriting to refine renewal pricing.

The VP ensures compliance with insurance regulations, bureau requirements, and internal audit standards. This includes overseeing dispute resolution and maintaining documentation that meets internal and external scrutiny.

Requirements

• 12–15+ years of experience in Insurance Operations with a carrier or BPO in Premium Audit.
• At least 4 years of executive leadership experience.
• Bachelor’s degree required.
• Deep expertise in BPO cost-benefit analysis, transaction-based pricing, and large-scale P&L management.
• Proficiency with audit platforms such as Majesco or Duck Creek, analytics tools, and workflow automation systems.
• Demonstrated ability to translate complex operational data into executive-level strategic proposals.
• Track record of managing geographically distributed teams, including onshore and offshore delivery models.
• Sophisticated FTE utilization tracking across global delivery centers, with demonstrated workforce right-sizing and cost-optimization results.
• Experience replacing manual, paper-based audit processes with digital platforms using technology and direct API integrations.
• Proven ability to transition vendor engagements from TBP arrangements to FTE-based pricing models and achieve measurable cost-per-audit reductions.

Responsibilities

• Define and drive the enterprise-wide premium audit strategy, optimizing the mix of physical, virtual, and self-audit channels.
• Lead large-scale transformation initiatives, including automated audit workflows and predictive analytics for audit selection.
• Manage the departmental budget, FTE allocation, field staff capacity planning, and productivity benchmarks.
• Establish performance frameworks and scorecard metrics for regular reporting to SVP-level leadership.
• Govern third-party audit firms through structured vendor lifecycle management.
• Negotiate and manage transaction-based pricing models for external BPO partners.
• Establish and monitor vendor SLAs and KPIs, including quality score, audit cycle time, and cost per audit.
• Conduct annual vendor performance reviews and recommend contract renewals, renegotiations, or terminations.
• Maintain a preferred vendor panel with tier-one and tier-two routing logic.
• Partner with Analytics to develop high-yield audit selection models.
• Monitor portfolio trends in classification changes, exposure shifts, and audit dispute rates.
• Maintain feedback between audit outcomes and Underwriting to refine policy pricing at renewal.
• Ensure compliance with NCCI, ISO, state-specific Bureau regulations, and internal audit standards.
• Oversee dispute resolution, balancing premium recovery objectives with policyholder experience and retention.
• Maintain audit documentation standards that satisfy internal audit requirements and external regulatory scrutiny.
• Track FTE utilization across global delivery centers and support workforce right-sizing and cost optimization.
• Replace manual, paper-based audit processes with digital platforms, technology, and direct API integrations.
• Optimize BPO arrangements and drive measurable reductions in cost per audit.
• Manage geographically distributed teams, including onshore and offshore delivery models.
• Translate complex operational data into executive-level strategic proposals.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive