Insurance Specialist

Position Summary

The Insurance Specialist will serve as a key technical expert within the Internal Auditor Insurance Review team, focusing on evaluating excess liability insurance programs, underwriting practices, claims management, and reinsurance arrangements. This role requires in-depth knowledge of insurance products, risk assessment methodologies, and regulatory compliance specific to municipal joint insurance funds.

• Analyze NJMEL insurance policies, coverage structures, endorsements, and reinsurance treaties to assess adequacy and alignment with member entity risks.
• Review underwriting guidelines, claims handling procedures, and risk mitigation initiatives for compliance and operational effectiveness.
• Conduct risk assessments to identify coverage gaps, exposure areas, and opportunities for improvement.
• Collaborate with audit team members to integrate insurance expertise into financial and compliance audits.
• Support evaluation of cybersecurity and data privacy controls related to insurance information.
• Prepare clear, detailed audit findings and recommendations addressing insurance program enhancements.
• Assist in preparing presentations and reports for the NJMEL Audit Committee and Fund leadership.
• Remain current on New Jersey insurance regulations, municipal insurance fund practices, and industry best practices.

• Bachelor’s degree in Risk Management, Business Administration, Finance, or related field.
• Professional certifications such as Associate in Risk Management (ARM) or Chartered Property Casualty Underwriter (CPCU) preferred.
• Minimum of 5-7 years experience in municipal excess liability insurance, underwriting, or risk management, ideally within a public entity or joint insurance fund environment.
• Strong knowledge of insurance products, reinsurance, and regulatory requirements impacting New Jersey municipal insurance pools.
• Excellent analytical, problem‑solving, and communication skills.
• Ability to work collaboratively within an audit team and interface with diverse stakeholders.
• Proficiency in Microsoft Office Suite, data analytics tools, and insurance management systems.

Compensation: $125.00 per hour