NJ Civil Service Navigator

SUPERVISING INSURANCE EXAMINER

Code: 55085 Unknown Unknown

Career Family: INSURANCE EXAMINER

Supervising Insurance Examiner is a New Jersey state civil service title.

It lists a master's degree as the baseline, with an experience-based path open to those who do not hold the degree. State payroll currently lists 6 people in the title, most of them at Banking and Insurance.

How to apply

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Who employs this title

State payroll records show 6 people working under this title. The median actual salary is $131,657. The agencies employing the most are:

  • Banking and Insurance (6)

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.

Definition

Under the direction of a Chief Insurance Examiner, or other administrative official in the Department of Banking and Insurance, plans, supervises, and coordinates the work of personnel engaged in examinations and/or reviewing and verifying reported accounts and records of insurance companies regulated by the department; may be assigned to either field or central office locations as required; supervises staff and work activities; prepares and signs official performance evaluations for subordinate staff; does other related duties as required.

Examples of work

Reviews and/or examines and verifies internal and external accounts and other financial records; provides information and assistance on compliance with N.A.I.C. (National Association of Insurance Commissioners) solvency parameters, policy, procedures, law, regulations, court decisions, precedents, accounting principles, actuarial, governance, auditing and examining techniques, and other technical and administrative matters. Supervises the review of completed examinations for format, accuracy, adequate explanations of tax assessments, proposed adjustments, and other unusual features. Identifies and corrects deficiencies in work methods, work product and activities. Conducts informal conferences with staff, attorneys, insurance companies' representatives, the general public, special interest groups, and representatives of other state agencies. Supervises the work operations and/or functional programs and has responsibility for effectively recommending the hiring, firing, promoting, demoting, and/or disciplining of employees. Conducts post audit conferences with insurance companies and/or their representatives to review completed audits. Applies and interprets laws, precedents, N.A.I.C. parameters, and other guidelines; reviews the financial solvency, examination evidence, , proposed audit and/or examination and verification procedures, and the merits of proposals and arguments. Presents the State's position in controversial or complex matters; presents evidence in court proceedings on insurance matters. Keeps current with legislative changes in New Jersey insurance statutes and regulations, and court decisions affecting the Department of Banking and Insurance. Ensures compliance with all applicable department policies and procedures. Participates in the orientation and training of employees. Interprets insurance statutes, regulations, procedures, and policies; conducts field visits with auditors to assess performance qualities and the application of policy and procedural guidelines. Supervises the assignment of review and /or examination and comprehensive receipt and review of financial statements and filings, verification of accounts and records; recommends the conduct of investigations based on information secured. Reviews and interprets various highly complex formal contracts relevant to insurance matters. Represents the Department in a professional manner with external and internal parties in the exchange of data requests and related information. This includes serving as a point person in securing the timely response to follow-up inquiries. Keeps current with new insurance products marketed and their impact on the financial condition of insurers. Keeps current with federal income tax laws covering insurance companies. Supervises the preparation of detailed correspondence during official duties. Supervises the preparation of clear, sound, accurate, and informative statistical, financial audit, investigation, document/data requests, formal communications and other reports containing follow-up determination and/or requests, findings, conclusions, and recommendations. Supervises the maintenance of essential records, reports, and files. 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 and casualty reserve computations and other actuarial features necessary for the understanding of financial statements of insurers. Knowledge of varied types of financial records/documents, statements, and audits. Knowledge of the discrepancies in financial records and of the methods used in discovering and correcting errors in financial documents and records. 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 and complex examinations, and/or audits and verification of internal and 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 participate in and/or lead meetings with other units, offices, regulating authorities, guarantee associations, trade associations, and company executives as needed. Ability to implement changes or revisions in work procedures and methods required by court decisions, rulings, and/or orders promulgated. Ability to interpret technical data and procedures to insurance companies, representatives, and interested parties. Ability to review complex accounting and auditing problems and develop and prescribe effective work methods. Ability to supervise the training of subordinate personnel in established reviews, procedures and/or examination and verification procedures, and in the effective application of relevant insurance laws, rules, and regulations. Ability to supervise assigned staff and plan, organize, and implement projects within the unit. Ability to confer with legal representatives of insurance companies and understand the mechanics of mergers, conglomerates, absorptions, and other actions concerning reorganization of insurance entities and/or holding companies. Ability to conduct highly complex independent audits. Ability to confer with business and trade representatives, attorneys, corporate officers, and other persons concerning audit and related insurance issues. 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 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, subordinates, and the representatives of insurance companies. Ability to present evidence for the State in court proceedings on insurance matters. Ability to utilize appropriate information for selection of examinations. Ability to develop audit and/or examination and verification procedures relevant to New Jersey insurance statutes. Ability to prepare clear, technically sound, accurate, and informative statistical, financial, and other reports containing findings, conclusions, and recommendations. Ability to supervise the preparation of detailed correspondence. Ability to maintain and/or supervise the maintenance of essential records, report, 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. Eight (8) 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; one (1) year of experience shall have been in a supervisory capacity. 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 four (4) years of the above-mentioned professional experience; one (1) year of which shall have been in a supervisory capacity. 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; and three (3) years of the above-mentioned professional experience, one (1) year of which shall have been in a supervisory capacity. 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 four (4) years of the above-mentioned professional experience, one (1) year which shall have been in a supervisory capacity. "Professional experience" refers to work that is creative, analytical, evaluative, and interpretive; requires a range and depth of specialized knowledge of the profession's principles, concepts, theories, and practices; and is performed with the authority to act according to one's own judgment and make accurate and informed decisions. Assignments may require travel to insurers' headquarters and possibly travel overnight out-of-state.

Study guides for this exam

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