INSURANCE EXAMINER 3
Career Family: INSURANCE EXAMINER
New Jersey treats Insurance Examiner 3 as a competitive-class job, so the gate is an examination and the ranked list it produces rather than a direct offer.
This is where the Insurance Examiner ladder starts, one grade under Insurance Examiner 2, whose band tops out about $13,845 higher. The spec names a master's degree, but it leaves the door open to substitute experience for the degree. The FY 2027 range lands between $63,663 and $92,953, and state payroll currently lists 9 people in the title, most of them at Banking and Insurance.
How to apply
This title is filled by competitive examination.
See every real route in, and where to apply. One agency employs it. We don't track live vacancies.
See where to apply for this title →Who employs this title
Insurance Examiner 3 appears on the State payroll at one department, Department of Banking & Insurance.
State departments
| Employer | Employees |
|---|---|
| Department of Banking & Insurance | 9 |
State payroll and independent authority payroll are separate systems and are never merged. See data sources.
Pay ladder: Insurance Examiner series
- Insurance Examiner 3 — $63,663 – $92,953 (this title)
- Insurance Examiner 2 — $72,896 – $106,798
- Insurance Examiner 1 — $83,582 – $122,832
Promoting to Insurance Examiner 2 raises the top of the band by about $13,845. Its top salary lands around the 35th percentile of all NJ civil service titles that publish a range.
Rungs are ordered by FY 2027 pay. NJ level numbers are not always sequential, so ordering follows salary rather than the title number.
Who employs this title
State payroll records show 9 people working under this title. The median actual salary is $67,170. The agencies employing the most are:
- Banking and Insurance (9)
Counts from NJ YourMoney agency payroll. See statewide workforce analytics.
Official job specification
The text below is the official specification published by the New Jersey Civil Service Commission. The plain-language summary and analysis above are derived from it by NJ Civil Service Navigator. Source: the official specification page at NJ CSC.
Definition
Under the close supervision of a Supervising Insurance Examiner, Insurance Examiner 1, or other supervisory official in the Department of Banking and Insurance, shall review, audit, examine and verify any and all filings, accounts and records of insurance companies regulated by the Department; may be assigned to either field or central office locations as needed; does other related duties as required.
Examples of work
Conducts reviews and/or examinations and verifications of financial and related filings, accounts and records including those of insurance holding company systems as required. Assists in the auditing of premium tax and other insurance company assessment returns. Assists in the analysis and evaluation of financial statements and related filings submitted by insurance companies to the Department. Prepares clear, technically sound, accurate, and informative reports on reviews and examinations containing findings, conclusions, and recommendations. Assists in the preparation of test data to ensure that systems and programs undergoing audit will accept valid information and reject erroneous information Keeps current with legislative changes in New Jersey insurance statutes and regulations and court decisions and N.A.I.C. (National Association of Insurance Commissioners) Model law enactment that affect the Department of Banking and Insurance. Conducts inspections and evaluations of all filings, bonds, mortgages, stocks, real estate, and other investments and documents submitted for review. Performs the work involved in the calculation of reserves, liabilities and obligations. Assists in the review, interpretation, and analysis of various formal contracts relevant to insurance matters including but not limited to Reinsurance, Management Agreements and Tax Sharing Agreements. Keeps current with new insurance products marketed and their impact on the financial condition of insurers. Keeps current with all relevant statutes and regulations, including current case law, as well as State and federal income tax laws governing insurance companies. Assists in the evaluation of tax reserves and offsetting reserves established by the insurers. Maintains records, reports, and files, according to all applicable laws, rules, regulations and procedures established by the Department. Will be required to learn how to utilize various types of electronic and/or manual recording and information systems used by the agency, office, or related units.
License
Appointees will be required to possess a driver's license valid in New Jersey only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essential duties of the position.
Knowledge, skills and abilities
Knowledge of the methods used to review, audit, verify, assess solvency and reconcile records. Knowledge of the financial records and detail operations of insurance companies. Knowledge of the accounting principles, methods, and practices. Knowledge of the actuarial aspects of life, health, and/or property, casualty reserve computations, and other actuarial features necessary for the understanding of the financial statements of insurers. Knowledge of the discrepancies in financial records and of the methods used in discovering and correcting errors in financial documents and records. Knowledge of the varied types of financial records/documents, statements, and audits. Knowledge of the methods and procedures used to maintain financial statements and audit systems of accounts. Ability to analyze, interpret, and apply laws, rules, and other regulations of the State of New Jersey governing insurance companies. Ability to apply auditing, accounting, and statistical principles, methods, and techniques. Ability to schedule and organize routine audits, and/or examination and verification of external accounts and records. Ability to check and verify financial entries from various source documents. Ability to identify areas of financial statement strengths and weaknesses, inconsistency, non-compliance, downward trends, the risks presented therein, and communication of findings in written and oral presentation. Ability to review and examine the financial records and detail operations of insurance companies and holding systems. Ability to review, interpret, and apply information on the actuarial aspect of life, health and/or property, casualty reserve computations, and other features necessary for understanding the financial statements of insurers. Ability to utilize and become fully knowledgeable and proficient in various electronic, computer-based, and manual databases, computer programs, spreadsheets, processing, recording and information systems used by the Department and its offices and related units and sub-units. Ability to work effectively with associates, supervisors, and the representatives of insurance companies. Ability to prepare clear, technically sound, accurate, and informative statistical, financial, and other reports containing findings, conclusions, and recommendations. Ability to represent the Department in a professional manner with external and internal parties in the exchanges of data requests and related information. This includes serving as a point person in securing the timely response to follow-up inquiries. Ability to prepare detailed correspondence. Ability to maintain essential records, reports, and files. Ability to learn how to utilize various types of electronic and/or manual recording and information systems used by the agency, office, or related units. Ability to read, write, speak, understand, and communicate in English sufficiently to perform the duties of this position. American Sign Language or Braille may also be considered as acceptable forms of communication. Persons with mental or physical disabilities are eligible if they can perform the essential functions of the job with or without reasonable accommodation. If the accommodation cannot be made because it would cause the employer undue hardship, such persons may not be eligible.
Note
The examples of work for this title are for illustrative purposes only. A particular position using this title may not perform all duties listed in this class specification. Conversely, all duties performed on the job may not be listed. Applicants must meet one of the following or a combination of both experience and education. Thirty (30) semester hour credits are equal to one (1) year of relevant experience. Five (5) years of professional experience in analyzing or examining financial accounts, data, statements, reports or records of corporations, insurance companies or banks; including or supplemented by twenty-one (21) semester hour credits in any one or in combination of the following areas of study: Banking, Insurance, Management, Financial Management, Risk Management, Information Technology, Mathematics, Business Law, Taxation, Accounting, Auditing, Statistics, Finance, Economics or Business Administration. OR Possession of a bachelor's degree from an accredited college or university including or supplemented by twenty-one (21) semester hour credits in any one or in combination of the following areas of study: Banking, Insurance, Management, Financial Management, Risk Management, Information Technology, Mathematics, Business Law, Taxation, Accounting, Auditing, Statistics, Finance, Economics or Business Administration; and one (1) year of the above-mentioned professional experience. OR Possession of a master's degree in Banking, Insurance, Management, Financial Management, Risk Management, Information Technology, Mathematics, Business Law, Taxation, Accounting, Auditing, Statistics, Finance, Economics, or Business Administration. OR Possession of a valid certificate as a Certified Public Accountant issued by the New Jersey State Board of Accountancy, or a valid certificate as an Accredited Financial Examiner, Insurance Designation, issued by the Society of Financial Examiners, and one (1) year of the above-mentioned professional experience. "Professional experience" refers to work that is analytical, evaluative, and interpretive; requires a range of basic knowledge of the profession's concepts and practices; and is performed with the authority to act and make accurate and informed decisions. Assignments may require travel to insurers' headquarters and possibly travel overnight out-of-State.