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6/3/2021The SevenHabits ofHighlyEffectiveAuditorsPresented byTim Luque, COOLuque Premium Audit Specialists1Habits of HighlyEffective Auditors2ARE THESE HABITS STILL RELEVANT TODAY? “The greater the change and the more difficult the challenges become, the morerelevant the habits become.” Especially true moving from physical audits to virtual audits. These habits are even more relevant today than they were over 30 years ago.31

6/3/2021 The capacity and the desire tosubordinate impulses, moods, feelingsand conditions to values based onprinciples.How many feel better when theweather is great outside?“Reponse-ability” – We have the abilityto choose our response to anysituation.Habit 1 is the foundational componentof every other habit.4Have you ever asked yourself: Why can’t the insured provide the right records the first time? Why doesn’t my company realize it is not that easy to complete 50 audit permonth? Why doesn’t the insureds respond to my phone calls?These scenarios are out of our control and happen regularly. How we respond iskey to a successful career in auditing.“Don’t let the things you can do nothing about interfere with the things you cando a great deal about”.5 Reactive is the opposite of ProactiveFeelingsMoodsImpulsesOther People’s Treatment of you Reactive people always seem to have a dark cloud over their head. Proactive people learn to forgive and forget.62

6/3/2021 Have a positive attitude.Positive attitude also important for good customer service Tone mattersShow empathyGain Trust 7Results of Proactivity Complete audits in a timely manner.Update progress notes with useful information.ConsistencyOrganization Tasks Lists To Dos Education CPCUAPAPA101Work Comp Essentials - California Remain consistent in extremely adverse situations.8Habit 2: Begin with the End in Mind “The audit is yours from cradle to grave.” With that knowledge I truly had to begin withthe end in mind and ask myself, What aresome results of the final audit? Future premiums might change throughchanges in their ex-mod The audit could end up in court The audit is pulled for test audit93

6/3/2021 Always keep in mind how the insured will react to the final audit invoice – Variance Analysis. Demonstrate knowledge of their specific industry as it relates to premium audit – do someresearch before the audit. Specifically take a moment to think about the most efficient way to complete the audit report. Is there a better payroll report?Is there a split period?Do I have to list employees individually?Can I group by department or by class code?Is there an excel spreadsheet available?10 On a separate note, think about your career path and where do you see yourself What are your career goals, for everyone its different What do I need to do to achieve it? What roadblocks might be in the way? Whether you want to remain a Sr. Auditor or start your own vendor audit company,pursuing education such as obtaining your APA or CPCU is always a step in the rightdirection.11Habit 3: First HabitThings#3:FirstPut First Things First124

6/3/202113 Do you find that you are putting out fires most of the time? Most of us feel like we are in Quadrant 1 all the time. This may limit your overall effectiveness.14 As a manager if you spend the majority of your time dealing with problem employees or thecurrent hot items of the day versus developing your employees through coaching,delegation & development plans you are missing out on putting first things first. As an auditor it is important to balance problem child audits as well as audits that arereadily available to complete in order to meet production requirements. Meeting yourproduction requirements is putting first things first. What are the goals that you have set on your performance review? Are you accomplishing the things necessary to move forward with those goals?Promotion, new responsibilities?155

6/3/2021Habit 4:Think Win Win16 Often an overused generic term in the business world – what does it really mean? If both parties genuinely feel good, it is truly a win-win Completion of an audit and the customer is happy. Achievable goals on performance evaluation Employee feels good about accomplishing those goals to move forward in their career. The employer feels good because now you have an employee ready for the next level.17 We have been brought up in a win-lose culture. We do not want to share knowledge for fear that it will give someone else an edge. We look at everything as a competition rather than as a collaborative effort. Competition ultimately makes everyone better, however not sharing knowledge can actuallyhave the opposite effect, especially within an organization.186

6/3/2021Habit 5: Seek First To Understand Then To BeUnderstood19 Everyone’s point of view is from a subjective paradigm - there really is no objectivity. Most people seek to be understood first as it is part of human nature. People may completely ignore the other’s point of view. People may engage in selective listening, however remain firm in their point of view.20 When you have achieved success in Habits 1, 2 and 3 you can truly look at a scenario and hearall sides which may change your perspective. It is easier to admit that you were wrong when you have achieved the private victories ofHabits 1, 2 and 3. Our goal should be to fully understand and empathize with the other person and theperspective they bring.217

6/3/2021 Managing auditors – if an employee is struggling with production or quality our first thoughtmight be to say try harder or go back and re read the manual. But if we truly listen with empathy, we might realize there is an underlying problem whichresults in those issues. Auditor – in the case of an audit dispute or an unexpected final audit result, always listen totheir complaint. Even if it is not going to change anything on the audit, many times they justneed to be heard.22Habit #6:Synergize This habit involves working together as a team to yield a better outcome Valuing the difference in backgrounds and viewpoints by others you will arrive at a superiorresult In short: 1 1 3Habit 6: Synergize23 This habit involves working together as a team to yield abetter outcome . Valuing the difference in backgrounds and viewpoints byothers you will arrive at a superior result. How is synergy created in an audit organization? Traditional approach is to assign to a specificauditor and they are responsible from beginningto end Focus on strengths of each auditor248

6/3/2021Habit 7:Sharpen the Saw25 Have you ever tried to take a road trip without stopping for gas? How far did you get? In a similar way, not sharpening the saw is like not stopping for gas We all get busy in our daily lives. We have production goals. These are urgent and important. It often time seems like we do not have time to sharpen the saw. Obtain APA NSIPA’s PA 101 course Obtain CPCU If we make the time the short-term sacrifice will lead to long term rewards.26Conclusion Cultivating each habit will help you look at your career and your organization toidentify areas of improvement. They may help bring out the best in yourauditors and I believe that they will also help improve the culture and fabric ofany organization.279