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Financial Analyst II/III

Recruitment #14-009641-001

Introduction

The Maryland Insurance Administration (“the 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 financial analysts, accountants, lawyers, law enforcement officers, actuaries, and others, the MIA works to facilitate a strong 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 range of responsibilities including the licensure of insurance companies 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 consumer fraud and consumer complaints about life, health, automobile, homeowners, and/or property insurance.  Insurance companies are subject to market conduct examinations and other actions to monitor compliance with Maryland law.  The MIA has a unit dedicated to consumer education and outreach, which participates in hundreds of events and reaches thousands of individual consumers annually.

POSITION DUTIES

This position monitors domestic and foreign insurance companies which transact business in Maryland for solvency and compliance with applicable laws, regulations, and other regulatory requirements to protect Maryland citizens.  The incumbent will perform in-depth analyses of the assigned insurers’ annual and quarterly statements and other filings and documents findings; research related topics/issues; document significant findings; write an overall summary; prepare draft correspondence; and conclude on the financial condition and statutory compliance of the insurers.

The position will review insurers’ filings such as dividend notifications, holding company filings and other documents for propriety and compliance with applicable laws, regulations and policies; monitor financial trends of assigned companies’ and identifies solvency risks; and  prepare 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 MIA recommended course of action. 

MINIMUM EDUCATION AND EXPERIENCE REQUIREMENTS

Financial Analyst II   ($43,153 -- $68,887/year)

Education: Bachelors’ degree from an accredited college or university in accounting, business, finance or related field with sufficient credit hours in required subjects for admission to the Maryland CPA exam.

Experience: One year 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 CPA, Accredited Financial Examiner (AFE) or Certified Financial Examiner (CFE) designation may be substituted for the accounting credits.

 -or-

Financial Analyst III  ($45,938 -- $73,541/year)

Education: Bachelors’ degree from an accredited college or university in accounting, business, finance or related field  with sufficient credit hours in required subjects for admission to the Maryland CPA exam.

Experience: Two years 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 pursuit and successful completion of all or parts of the Certified Public Accountant (CPA); Accredited Financial Examiner (AFE) or Certified Financial Examiner (CFE) designation.

Note: Evidence of a 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

For immediate consideration, you MUST upload a single document at the "Resume" tab that contains:

1. a cover letter stating your interest;
2. salary history;
3. specific salary requirements; and
4. a current professional resume.

If you are unable to apply online, you may submit the requested information via mail.  Please include all items listed above to ensure consideration.  Incomplete submissions will not be considered.

Complete application packets may be mailed to:

Maryland Insurance Administration
Human Resources - Recruitment#: 14-009641-001
200 St. Paul Place, Suite 2700
Baltimore, MD 21202

TTY  Users: call via Maryland Relay

As an equal opportunity employer Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State’s diversity.




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