The Department conducts regular periodic audits of the existing MGA’s / Third Party Program Administrators and assists in the due diligence process for proposed new programs.
The Auditor will verify compliance with the accounting requirements of the Program Administrators Manual (PAM), evaluate the effectiveness of existing internal controls and recommend improvements in such controls as necessary.
Execute moderately complex audit programs for assigned ICO third party administrators and/or managing general agents by examining evidence supporting transactions reported by the MGA/TPA and evaluate the processes and controls related to operations, contract compliance and accounting.
Assist in the due diligence process for prospective ICO third party administrators and /or managing general agents.
Assist ICO’s functional areas with development / implementation of oversight controls and processes to strengthen the overall ICO audit strategy.
Perform or assist on key projects as required.
4+ years of property/casualty insurance auditing experience within the primary property and casualty insurance arena.
Knowledge of property and casualty regulatory compliance issues.
Knowledge of program / MGA business.
Excellent interpersonal and communication skills.
Bachelor’s Degree – Accounting Preferred
CPA, CIA designation and/or insurance related designations preferred.
Position requires travel.