New Jersey / Banking and Insurance

Agency file

Banking and Insurance

Source file: New Jersey — YourMoney State Payroll / ingested Jun 18, 2026

The Banking and Insurance regulates industry and protects consumers — licensing, oversight, and enforcement of standards.

In 2024, this agency had 204 employees with median total compensation of $81,183; the highest distinct record was $171,467.

Year: 2024
Total payroll: $16.6M
Employees: 204
Median total: $81,183
Highest record: $171,467

What the records show

Compensation analytics

These summaries compare pay within the agency before listing individual records.

Salary distribution

$200$157,556+

Hover a bar for its range; click to filter the list below.

How 2024 total compensation is spread across the 204 employees. Each bar is a pay range; taller bars mean more people earn in that range. The amber line marks the median ($81,183) — half earn less, half more. The far-right bar collects the highest earners.

Average pay composition

Base — $80,169 (98%)
Overtime — $10 (0%)
Other — $1,383 (2%)
Benefits — $0 (0%)

What an average paycheck here is made of — base salary versus overtime, other pay (bonuses, allowances), and benefits. A large overtime or other-pay share means take-home often exceeds base salary.

Pay percentiles

10th

25th

Median

75th

90th

$44,743

$62,326

$81,183

$97,588

$124,927

The pay ladder for this department. Someone at the 90th percentile earns $124,927 — more than 90% of the department; the 10th percentile earns $44,743. The shaded band is the middle half of employees (25th–75th percentile).

Largest job titles

Investigator 2

28 · $74,744

Government Representative 1

17 · $93,302

Investigator 3

11 · $92,927

Financial Examiner 1

9 · $65,709

Investigator 1

9 · $56,448

The most common job titles in this department by headcount, with the median total compensation for each. Click a title to see everyone who holds it.

Trend

Year over year

How this department's total payroll, headcount, and median pay changed across the 2 published years.

Year	Total payroll	Employees	Median pay
2023	$15.7M —	211 —	$73,793 —
2024	$16.6M ▲ 6.2%	204 ▼ 3.3%	$81,183 ▲ 10.0%

Compare

Similar departments

Departments elsewhere with the most similar mix of roles — a proxy for the same kind of agency, matched by workforce composition rather than name. Pay is not cost-of-living adjusted.

Dcpc District of Columbia57% match
State Board of Veterinary Medical Examin Texas57% match
Civilian Complaint Review Bd New York City52% match
Oig Office of Inspector General City of Philadelphia47% match
Office Inspector General Cook County, Illinois44% match
Labor License & Regulation South Carolina43% match

Record list

Employees

Page 1

Paule Sibblies-Flagg

Government Representative 1/Banking and Insurance

2024 total comp

$171,467

Sub-department: Banking
Base pay: $149,332
Overtime: $0
Other pay: $22,135
Benefits: $0
Total compensation: $171,467
Hire date: null
Union / bargaining unit: Exempt - Unit X
Pay basis: Annual
Middle name: null

Source-specific fields

As-of Date: Dec 31, 2024
Calendar Quarter: 4
Full Name: Sibblies-Flagg, Paule
Paid Section Description: null
Payroll ID: 159631
Record Type: Master
Salary Hourly Rate: $165,313
Year-to-Date Earnings: $171,467

At Banking and Insurance, Paule Sibblies-Flagg serves as a Government Representative 1 within Banking. Records show a hire date of null. Their 2024 pay totaled $171,467. Their bargaining unit is Exempt - Unit X.

Richard Besser

Assistant Insurance Commissioner/Banking and Insurance

2024 total comp

$163,654

Sub-department: Insurance
Base pay: $163,654
Overtime: $0
Other pay: $0
Benefits: $0
Total compensation: $163,654
Hire date: null
Union / bargaining unit: Managerial - Unit M
Pay basis: Annual
Middle name: A

Source-specific fields

As-of Date: Dec 31, 2024
Calendar Quarter: 4
Full Name: Besser, Richard A
Paid Section Description: null
Payroll ID: 156009
Record Type: Master
Salary Hourly Rate: $174,000
Year-to-Date Earnings: $163,654

Richard Besser works as a Assistant Insurance Commissioner for Banking and Insurance within Insurance. Their hire date on record is null. Richard earned $163,654 in 2024. Union affiliation: Managerial - Unit M.

Xiaoyan Li

Chief Examr/Banking and Insurance

2024 total comp

$159,799

Sub-department: Banking
Base pay: $156,817
Overtime: $0
Other pay: $2,982
Benefits: $0
Total compensation: $159,799
Hire date: null
Union / bargaining unit: Managerial (Represented-Ibew)
Pay basis: Annual
Middle name: null

Source-specific fields

As-of Date: Dec 31, 2024
Calendar Quarter: 4
Full Name: Li, Xiaoyan
Paid Section Description: null
Payroll ID: 166120
Record Type: Master
Salary Hourly Rate: $163,853
Year-to-Date Earnings: $159,799

Xiaoyan Li holds the role of Chief Examr at Banking and Insurance within Banking. Their hire date on record is null. In 2024, their total compensation was $159,799. Union affiliation: Managerial (Represented-Ibew).

Michael Fahncke

Assistant Insurance Commissioner/Banking and Insurance

2024 total comp

$157,679

Sub-department: Insurance
Base pay: $157,679
Overtime: $0
Other pay: $0
Benefits: $0
Total compensation: $157,679
Hire date: null
Union / bargaining unit: Managerial - Unit M
Pay basis: Annual
Middle name: D

Source-specific fields

As-of Date: Dec 31, 2024
Calendar Quarter: 4
Full Name: Fahncke, Michael D
Paid Section Description: null
Payroll ID: 104707
Record Type: Master
Salary Hourly Rate: $167,491
Year-to-Date Earnings: $157,679

Michael Fahncke is a Assistant Insurance Commissioner at Banking and Insurance within Insurance. Records show a hire date of null. 2024 total compensation came to $157,679. They are represented by Managerial - Unit M.

Howard Wegener

Government Representative 1/Banking and Insurance

2024 total comp

$157,556

Sub-department: Banking
Base pay: $157,556
Overtime: $0
Other pay: $0
Benefits: $0
Total compensation: $157,556
Hire date: null
Union / bargaining unit: Exempt - Unit X
Pay basis: Annual
Middle name: R

Source-specific fields

As-of Date: Dec 31, 2024
Calendar Quarter: 4
Full Name: Wegener, Howard R
Paid Section Description: null
Payroll ID: 123250
Record Type: Master
Salary Hourly Rate: $165,313
Year-to-Date Earnings: $157,556

Howard Wegener holds the role of Government Representative 1 at Banking and Insurance within Banking. Their hire date on record is null. In 2024, their total compensation was $157,556. Union affiliation: Exempt - Unit X.

David Wolf

Dpty Executive Director/Banking and Insurance

2024 total comp

$156,416

Sub-department: Insurance
Base pay: $153,561
Overtime: $0
Other pay: $2,855
Benefits: $0
Total compensation: $156,416
Hire date: null
Union / bargaining unit: Managerial (Represented-Ibew)
Pay basis: Annual
Middle name: W

Source-specific fields

As-of Date: Dec 31, 2024
Calendar Quarter: 4
Full Name: Wolf, David W
Paid Section Description: null
Payroll ID: 148633
Record Type: Master
Salary Hourly Rate: $170,000
Year-to-Date Earnings: $156,416

At Banking and Insurance, David Wolf serves as a Dpty Executive Director within Insurance. Records show a hire date of null. Their 2024 pay totaled $156,416. They are represented by Managerial (Represented-Ibew).

Seong-Min Eom

Mngng Actry/Banking and Insurance

2024 total comp

$153,931

Sub-department: Insurance
Base pay: $153,931
Overtime: $0
Other pay: $0
Benefits: $0
Total compensation: $153,931
Hire date: null
Union / bargaining unit: Managerial (Represented-Ibew)
Pay basis: Annual
Middle name: null

Source-specific fields

As-of Date: Dec 31, 2024
Calendar Quarter: 4
Full Name: Eom, Seong-Min
Paid Section Description: null
Payroll ID: 153410
Record Type: Master
Salary Hourly Rate: $161,509
Year-to-Date Earnings: $153,931

Seong-Min Eom holds the role of Mngng Actry at Banking and Insurance within Insurance. Their hire date on record is null. In 2024, their total compensation was $153,931. They are represented by Managerial (Represented-Ibew).

Aurelio Romero

Executive Director/Banking and Insurance

2024 total comp

$151,275

Sub-department: Insurance
Base pay: $151,275
Overtime: $0
Other pay: $0
Benefits: $0
Total compensation: $151,275
Hire date: null
Union / bargaining unit: Managerial - Unit M
Pay basis: Annual
Middle name: null

Source-specific fields

As-of Date: Dec 31, 2024
Calendar Quarter: 4
Full Name: Romero, Aurelio
Paid Section Description: null
Payroll ID: 164975
Record Type: Master
Salary Hourly Rate: $160,839
Year-to-Date Earnings: $151,275

At Banking and Insurance, Aurelio Romero serves as a Executive Director within Insurance. Records show a hire date of null. Their 2024 pay totaled $151,275. Their bargaining unit is Managerial - Unit M.

Martin Sumners

Government Representative 1/Banking and Insurance

2024 total comp

$151,254

Sub-department: Insurance
Base pay: $151,254
Overtime: $0
Other pay: $0
Benefits: $0
Total compensation: $151,254
Hire date: null
Union / bargaining unit: Exempt - Unit X
Pay basis: Annual
Middle name: C

Source-specific fields

As-of Date: Dec 31, 2024
Calendar Quarter: 4
Full Name: Sumners, Martin C
Paid Section Description: null
Payroll ID: 129909
Record Type: Master
Salary Hourly Rate: $158,700
Year-to-Date Earnings: $151,254

Martin Sumners works as a Government Representative 1 for Banking and Insurance within Insurance. Their hire date on record is null. Martin earned $151,254 in 2024. They are represented by Exempt - Unit X.