Job Description
Job Overview
The Insurance Compliance Auditor for surplus lines is primarily responsible for ensuring the organization’s surplus lines insurance operations comply with applicable state tax laws, regulations, and industry standards. This role entails regular audits, filings, and reconciliations associated with state premium tax processes for surplus lines, and responding to both internal and external regulatory inquiries.
Key Responsibilities
Audit and Compliance
Conduct thorough audits of surplus lines insurance records, premium reports, and policy documentation to verify accuracy of tax filings and compliance with state laws.
Ensure all surplus lines premium taxes are accurately calculated, filed, and paid in accordance with each state’s regulatory requirements and deadlines.
Identify discrepancies and recommend corrective actions related to tax reporting, premium allocations, and broker fees.
Monitor and interpret changes to state statutes, regulations, and tax rates affecting surplus lines products and ensure the organization adapts processes to remain compliant.
Tax Filing & Reporting
Oversee monthly, quarterly, and annual surplus lines tax filings for multiple states, ensuring submissions are timely and accurate.
Collaborate with accounting and operations teams to reconcile tax documentation and resolve any inconsistencies or errors in tax reporting.
Compile reports and presentations on audit findings, compliance status, and tax payments for management and regulatory bodies.
Regulatory Interaction
Serve as main point of contact for regulatory audits, Stamping Office examinations, and Department of Insurance requests; prepare and submit all necessary documentation and responses.
Maintain all records required for compliance reviews and follow up on any Corrective Action Plans (CAP) as a result of audits.
Process Improvement & Training
Develop and refine compliance strategies, policies, and automation initiatives to enhance operational efficiencies in surplus lines tax processes.
Train internal staff on surplus lines regulatory changes, state-specific tax processes, and best practices for compliance.
Qualifications
Bachelor’s degree in business, accounting, insurance, or a related field.
2–5 years of professional experience in insurance auditing, regulatory compliance, or state tax filings.
Strong knowledge of surplus lines insurance, multi-state tax reporting, and state insurance regulations.
Advanced analytical skills and proficiency with relevant insurance and accounting software, particularly Excel.
Excellent attention to detail, organizational skills, and ability to communicate complex regulatory topics to internal teams and external regulators.
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