Job description
Introduction
• PREVIOUS APPLICANTS ARE STILL BEING CONSIDERED
The Maryland Insurance Administration (MIA) is an independent State agency that regulates Maryland’s insurance industry and protects consumers by monitoring and enforcing insurers’ and insurance professionals’ compliance with State law. Through the diligence of a highly professional staff of market analysts, financial analysts, accountants, lawyers, law enforcement officers, actuaries, complaint investigators, and others, the MIA works to facilitate a strong and competitive insurance marketplace where consumers are well informed and treated fairly. Staff members are subject matter experts who serve as a resource for lawmakers, consumers, and other public and private entities.
The MIA is charged with a broad range of responsibilities including the licensure of insurance carriers and insurance producers (brokers/agents) operating in Maryland, the conduct of financial examinations of companies to monitor financial solvency, and the review and approval of rates and contract forms. The MIA investigates reports of fraud and consumer complaints about life, health, automobile, homeowners, and/or property insurance. Insurance carriers are subject to market conduct examinations and other actions to monitor compliance with Maryland law. The MIA also has a unit dedicated to consumer education and outreach, which participates in hundreds of events and reaches thousands of individual consumers annually.
• This is a Special Appointment position that serves at the pleasure of the appointing authority.
GRADE
Financial Analyst I: $41,358- $50,506/year (Grade 15)
Financial Analyst II: $44,017 - $70,265/year (Grade 16)
Financial Analyst III: $46,857- $75,012 (Grade 17)
LOCATION OF POSITION
Baltimore City
POSITION DUTIES
The MIA is recruiting to fill a position, with the Examination and Audit Division, at the Financial Analyst I, II, or III level. Financial Analyst I – III represents the entry through full performance levels of financial analysis work. This position monitors domestic and foreign insurance companies which transact business in Maryland for solvency and for compliance with applicable laws, regulations, and other regulatory requirements to protect Maryland citizens. The position performs in-depth analyses of insurers’ annual and quarterly statements and other filings, researches related topics/issues, documents significant findings, writes an overall summary, prepares draft correspondence, and concludes on the financial condition and statutory compliance of the insurers.
The position also reviews insurers’ filings such as dividend notifications, holding company filings, and other documents for propriety and compliance with applicable laws, regulations, and policies; monitors financial trends of assigned companies’ and identifies solvency risks; and prepares summaries on the financial condition and statutory compliance of insurers. This position also identifies significant issues and solvency risk areas and potentially troubled companies, and develops the MIA’s recommended course of action.
MINIMUM QUALIFICATIONS
Financial Analyst I ($41,358 -- $65,827/year)
Education: Bachelor’s degree from an accredited college or university in accounting, business, finance, or a related field with sufficient credits to sit for the Maryland CPA exam.
Experience: None
Note: Evidence of a Certified Public Accountant (CPA), Accredited Financial Examiner (AFE) or Certified Financial Examiner (CFE) designation may be substituted for the accounting credits.
Financial Analyst II ($44,017 -- $70,265/year)
Education: Bachelor’s degree from an accredited college or university in accounting, business, finance, or a related field with sufficient credits to sit for the Maryland CPA exam.
Experience: One year of experience with a state insurance department, public accounting firm or similar audit entity, or an insurance company in a financial or audit-related area.
Note: Evidence of a Certified Public Accountant (CPA), Accredited Financial Examiner (AFE) or Certified Financial Examiner (CFE) designation may be substituted for the accounting credits.
Financial Analyst III ($46,857 -- $75,012/year)
Education: Bachelor’s degree from an accredited college or university in accounting, business, finance, or a related field with sufficient credits to sit for the Maryland CPA exam.
Experience: Two years of experience with a state insurance department, public accounting firm or similar audit entity, or an insurance company in a financial or audit-related area; and successful completion of all or parts of the Certified Public Accountant (CPA), Accredited Financial Examiner (AFE), or Certified Financial Examiner (CFE) examinations.
Note: Evidence of a Certified Public Accountant (CPA), Accredited Financial Examiner (AFE) or Certified Financial Examiner (CFE) designation may be substituted for the accounting credits.
BENEFITS
STATE OF MARYLAND BENEFITS
FURTHER INSTRUCTIONS
If you have any questions about this recruitment, please contact
[email protected].
For immediate consideration:
1. upload a current professional resume, to include specific salary requirements, at the 'Resume' tab; and
2. upload a copy of your degree/transcript to confirm you have met the educational requirements at the “Additional Materials” tab.
If you are unable to apply online, you may submit via mail. Please be sure to include all documents listed above to ensure timely processing. Complete application packets may be mailed to:
Maryland Insurance Administration
Human Resources - Recruitment #: 18-00+63+-0004
200 St. Paul Place, Suite 2700
Baltimore, MD 21202
Incomplete submissions will not receive consideration.
TTY Users: call via Maryland Relay
We thank our Veterans for their service to our country, and encourage them to apply.
As an equal opportunity employer, Maryland is committed to recruiting, retaining, and promoting employees who are reflective of the State’s diversity.
