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Supervisor, Life Insurance and Annuities

Recruitment #14-009644-001

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.

Main Purpose of Job

The Supervisor of the Life Insurance and Annuities unit is responsible for the review of all types of life insurance and annuity contracts and credit life and health insurance contracts submitted by insurance companies to ensure compliance with Maryland laws and regulations.  This position must be able to independently review all the major types of contract forms assigned to the unit and the actuarial memorandums submitted to justify the nonforfeiture values.  The incumbent supervises Analysts involved in the review of life insurance contracts and annuity contracts and credit life and credit health insurance contracts for compliance with laws and regulations; drafts regulations and bulletins; reviews proposed legislation; and trains staff in the analysis of forms, interpretation of Maryland laws and regulations, and calculation of cash values.  The Supervisor is also responsible for review of premium rates, premium rate deviations, and analysis of loss ratio experience reports for credit life and credit health insurance.

MINIMUM EDUCATION AND EXPERIENCE REQUIREMENTS

Education:   A Bachelor's degree from an accredited college or university.

Experience: Ten years experience drafting or analyzing life insurance and annuity contracts for a regulatory agency or licensed insurer.; or Five years experience drafting or analyzing life insurance and annuity contracts for a regulatory agency, or licensed insurer; and FLMI or equivalent designation.

LIMITATIONS ON SELECTION

This recruitment is limited to current employees of the Maryland Insurance Administration.

BENEFITS

STATE OF MARYLAND BENEFITS  

FURTHER INSTRUCTIONS

For immediate consideration, upload one WORD or PDF file, at the "Resume" tab, that contains:

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

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 #:  14-009644-001
200 St. Paul Place, Suite 2700
Baltimore, MD 21202

Incomplete submission will not receive consideration.

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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