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SENIOR ACTUARY

Recruitment #16-009662-0004

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 management service position serves at the pleasure of the appointing authority.

LOCATION OF POSITION

Baltimore City    

POSITION DUTIES

The Maryland Insurance Administration’s Office of the Chief Actuary (OCA) is recruiting for the position of Senior Actuary.  This senior position handles life and health actuarial responsibilities for the MIA, with primary focus on health insurance rate filings from non-profit health service plans, health maintenance organizations and insurance carriers.  The Senior Actuary reviews rate filings for adherence to actuarial principles and compliance with Federal and Maryland statutes and regulations; analyzes information received from companies supporting pricing assumptions specified by Federal and State statutes and regulations; provides analysis of information to OCA staff for use in rate reviews; produces reports as required under the law and under the guidance of the Chief Actuary; and reviews Medical Loss Ratio reports from Maryland health insurance carriers required by the Patient Protection and Affordable Care Act (PPACA).  The Senior Actuary will also review proposed State and federal legislation; and provide actuarial support to other departments in the MIA.

MINIMUM QUALIFICATIONS

This position requires:

  • A Bachelor’s degree from an accredited four-year college or university in Mathematics, Actuarial Science, Statistics or relevant degree.
  • A minimum of five (5) years of commercial medical pricing or rate review related experience.
  • Career Associate of the Society of Actuaries (ASA) or Fellow of the Society of Actuaries (FSA), and member of the American Academy of Actuaries.

DESIRED OR PREFERRED QUALIFICATIONS

  • Affordable Care Act (ACA) experience preferred.

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 #:  16-009662-0004

St. Paul Place, Suite 2700

Baltimore, MD 21202

Incomplete submission 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.