[Hiring] AVP Premium Audit @The Hanover Insurance Group

Role Description

The AVP of Premium Audit provides strategic leadership and operational oversight for the Premium Audit department, ensuring the accuracy, integrity, and timeliness of insurance premium audits. This role is accountable for developing and executing audit strategies that align with organizational goals, driving process improvements, and maintaining compliance with all regulatory and industry standards.

The AVP will lead a high-performing team, foster a culture of accountability and continuous improvement, and collaborate closely with underwriting, finance, compliance, and other key stakeholders to optimize audit practices. By leveraging data-driven insights and innovative methodologies, the AVP will enhance audit efficiency, mitigate risk, and contribute to the organization’s financial strength and long-term success.

Key Responsibilities:

• Leadership and Management:
  • Lead and mentor the premium audit leadership team, fostering a culture of excellence and continuous improvement.
  • Develop and implement strategic plans for the premium audit department.
  • Ensure the team is adequately trained and equipped with the necessary tools and resources.
  • Oversee vendor strategy including acquisition, oversight and budget.
• Audit Operations:
  • Oversee the planning, execution, and review of premium audits to ensure accuracy and compliance.
  • Oversee development and maintenance audit department policies, procedures, and standards.
  • Monitor audit performance metrics and implement improvements as needed.
• Collaboration and Communication:
  • Partner proactively with underwriting, finance, and technology teams to build strong relationships, foster trust, and collaboratively solve complex challenges.
  • Analyze and interpret audit results in the context of broader business and economic trends, translating insights into actionable recommendations.
  • Communicate findings clearly and persuasively to senior leadership and key stakeholders to support informed decision-making.
  • Serve as a trusted representative of the Premium Audit department in cross-functional meetings and enterprise projects.
• Compliance and Risk Management:
  • Oversee staff liaisons with state bureaus and ensure compliance with regulatory requirements and industry standards.
  • Identify and mitigate risks associated with premium audits.
  • Stay updated on changes in regulations and industry trends affecting premium audits.
  • Oversee quality review program to ensure audit accuracy.
• Technology and Innovation:
  • Leverage technology to enhance audit processes and improve efficiency.
  • Explore and implement innovative solutions to streamline audit operations.
  • Partner with the technology and marketing departments on development and execution of the customer audit experience strategy.

Qualifications

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field; Master’s degree or professional certification (e.g., APA®, CIPA) preferred.
• Minimum of 10 years in premium audit, insurance, or a related discipline, including at least 5 years in a senior leadership capacity.
• Exceptional knowledge of insurance principles, premium audit practices, and regulatory requirements.
• Strong ability to interpret complex data, solve problems, and make sound, strategic decisions.
• Proven ability to lead high-performing teams, inspire collaboration, and influence at senior and executive levels.
• Outstanding oral and written communication skills, coupled with strong interpersonal capabilities.
• Demonstrated mastery in fostering partnerships and cultivating a culture of engagement and collaboration across the organization.
• Ability to prioritize effectively and manage multiple initiatives in a fast-paced environment.
• Skilled in audit software, data analytics tools, and other relevant technologies.

Benefits

• Medical, dental, vision, life, and disability insurance
• 401K with a company match
• Tuition reimbursement
• PTO
• Company paid holidays
• Flexible work arrangements
• Cultural Awareness Day in support of IDE
• On-site medical/wellness center (Worcester only)