|Department||Maryland Insurance Administration|
|Filing Deadline||4/1/2014 11:59:00 PM|
|Salary||$77,053.00 - $123,711.00/year|
|HR Analyst||Carla Harrison|
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 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 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 Maryland Insurance Administration is recruiting to fill a leadership position in the Examination and Audit unit. The Chief Examiner (CE) manages the entire financial examination process in order to ensure that examinations are conducted effectively and efficiently, that examination procedures are sufficient to assess the companies' financial condition, that procedures will detect financial solvency risk areas, potential troubled companies and other significant issues, and that examinations meet the MIA and National Association of Insurance Commissioners (NAIC) Accreditation standards. The Chief Examiner is also responsible for scheduling all examinations, reviewing and approving initial examination planning documents, attending status meetings on examinations, reviewing selected work papers in high-risk areas, providing direction and input to the examiners as needed, and reviewing and approving final examination reports. The Chief Examiner’s duties may also include designing and conducting training for the staff of field examiners, meeting with companies on financial and admission issues, and attending NAIC conferences.
MINIMUM EDUCATION OR GENERAL REQUIREMENTS
Education: Bachelor's degree from an accredited college or university, with a major in accounting, business, finance or related field.
Experience: Five 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, of which four years was in an in-charge or supervisory capacity.
DESIRED OR PREFERRED QUALIFICATIONS
Knowledge of Generally Accepted Accounting Principles (GAAP).
Knowledge of Generally Accepted Auditing Standards (GAAS).
LICENSES, REGISTRATIONS AND CERTIFICATIONS
Active Certified Public Accountant (CPA) or Certified Financial Examiner (CFE) is required.
STATE OF MARYLAND BENEFITS
For immediate consideration, you MUST upload a single document at the Resume tab that contains:
1. a cover letter stating your interest and specific salary requirements
2. 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 submission will not receive consideration.
Complete application packets may be mailed to:
Maryland Insurance Administration
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.