Senior Premium Auditor Salary
The majority of Senior Premium Auditors in the United States — about three in five — boast more than 10 years of experience in their profession. Salaries stretch from $40K to $98K per year, and the median is $64K per year. Residence and years of experience each impact pay for this group, with the former having the largest influence. Women are just slightly outnumbered, with male Senior Premium Auditors making up 55 percent of survey respondents. A large number claim medical and dental insurance and the greater part get vision coverage. The majority of Senior Premium Auditors claim high levels of job satisfaction. Participants in PayScale's salary questionnaire provided the particulars of this report.
Job Description for Senior Premium Auditor
Senior premium auditors typically work in the insurance industry performing insurance premium audits. Tasks performed by senior premium auditors include planning and conducting audits, preparing relevant reports for clients, and resolving audit discrepancies as required. They may have to train, coach and/or monitor new and junior premium auditors, and they need to ensure that all of the audits conducted meet company guidelines.Read More...
Senior premium auditors are required to travel to visit clients or prospective clients, and they must be comfortable making presentations within their own organization and to clients. They must stay up to date with government regulations relevant to the insurance industry, as well as pertinent industry trends. Additionally, senior premium auditors may be required to attend workshops and conferences relevant to their job.
At least a bachelor's degree in finance, accounting, business, marketing or another relevant field is typically required for this position, although some employers prefer a master’s degree as well. Companies often require that candidates have substantial work experience as premium auditors, preferably as senior premium auditors. Knowledge of basic computer software such as the Microsoft Office suite and industry-specific software (such as the auditing software used by their company) is also needed. Generally, industry certification such as the certified insurance premium auditor (CIPA) and the certified insurance premium telephone auditor (CIPTA) designations are preferred.
Senior Premium Auditor Tasks
- Develop risk appraisal guidelines and audit paperwork templates.
- Plan and conduct audits, prepare reports on a monthly or yearly basis for clients, and take point as the lead reviewer.
- Analyze financial data to insure efficiency, accuracy, and compliance with relevant laws and standards, as well as to find instances of accounting deficiencies and/or fraud.
- Oversee, guide, and mentor junior auditors.
Senior Auditor Job Listings
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Popular Skills for Senior Premium Auditor
Senior Premium Auditors only report a few specific skills. Most notably, skills in Microsoft Excel, Microsoft Word, Microsoft Office, and Windows Operating System General Use are correlated to pay that is above average. Most people skilled in Microsoft Excel are similarly competent in Microsoft Office.
Pay by Experience Level for Senior Premium Auditor
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Senior Premium Auditors with a lot of experience do not necessarily enjoy more money. People who have worked for fewer than five years bring home $59K on average. Median compensation in the five-to-10 year group, however, is higher at approximately $64K. After working for 10 to 20 years, Senior Premium Auditors make a median salary of $67K. In the end, more experience does seem to mean larger paychecks; seasoned Senior Premium Auditors with more than 20 years of experience earn a predictably higher median salary of $72K.