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Company Licensing Analyst

Recruitment #16-009639-0005

Introduction

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 consumer 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 with the Maryland Insurance Administration. The position serves at the pleasure of the appointing authority.

LOCATION OF POSITION

Baltimore City

POSITION DUTIES

The MIA is seeking to hire a Company Licensing Analyst in the Examination and Audit Division’s Company Licensing Unit.  The incumbent performs in-depth statutory compliance and financial analysis, including, but not limited to, the computation and interpretation of ratios, statistical pattern analysis, and the study and interpretation of various company and industry trends, of corporate financial filings submitted by insurers requesting licensing in Maryland. The Company Licensing Analyst reviews all new applications of insurers and other regulated entities for completeness and financial stability to determine whether these organizations should be permitted to operate in Maryland and prepares a report to the Commissioner recommending approval or denial of an insurer's application.   The incumbent performs a quarterly review of certain insurers licensed in Maryland to determine if any of the companies are in hazardous financial condition and require regulatory action on the part of the MIA.  The incumbent also reviews the annual financial statements of organizations holding special permits to verify that the organizations have sufficient reserves to meet their financial obligations. 

MINIMUM QUALIFICATIONS

Education: Bachelor degree from an accredited college or university in accounting, business, finance or related field. 

 

Experience: Two years of experience examining, analyzing, and interpreting financial records and reports. 

 

Note: Sufficient credits to sit for Maryland CPA exam will be considered to have met the educational requirements.  Evidence of CPA, AFE, or CFE designation may be substitute for one year of the experience requirement.

DESIRED OR PREFERRED QUALIFICATIONS

  • The ideal candidate will have strong accounting, analytical, and computer skills. Professional certification, including CPA, AFE, and/or CFE, is desirable.
  • Prior experience in the insurance industry, in a financial or audit capacity, is desirable.

BENEFITS

FURTHER INSTRUCTIONS

If you have any questions about this recruitment, please contact the Maryland Insurance Administration at 410-468-2000.

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 #:  16-009639-0005

200 St. Paul Place, Suite 2700

Baltimore, MD 21202




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