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INSURANCE ANALYST I/II/III, LIFE and ANNUITIES **Reposted**

Recruitment #17-009638-0003

Introduction

**PREVIOUS APPLICANTS ARE STILL BEING CONSIDERED** 

 

 

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 that serves at the pleasure of the appointing authority.

LOCATION OF POSITION

Baltimore City

POSITION DUTIES

The MIA is recruiting for an Insurance Analyst I/II/III position in the Life and Health Division’s Life and Annuities Unit.  The main purpose of this position is to review and analyze new life insurance and annuity policies, riders, applications and endorsements for compliance with Maryland laws and regulations, as well as MIA requirements.  This position corresponds with insurance companies regarding deficiencies in form filings and actuarial memoranda and provides suggestions for improvements.  This position also checks cash value formulas and specimen calculations for compliance with cash value requirements using actuarial software and spreadsheets of actuarial functions; and responds to oral or written inquiries from insurers, the public and agency staff regarding life insurance or annuity matters. 

MINIMUM QUALIFICATIONS

Insurance Analyst I   (Salary range:  $38,880 - $61,691/year)

Education: Possession of a bachelor’s degree from an accredited college or university.

Experience: None

 

Note: Two years experience drafting or analyzing life insurance or annuity contracts for a regulatory agency or licensed insurer; 

 

 

Insurance Analyst II   (Salary range $41,358 - $65,827/year)

Education: Possession of a Bachelor’s degree from an accredited college or university.

 

Experience: Two years experience in drafting or analyzing life insurance or annuity contracts for a regulatory agency, or licensed insurer.

 

 

Note: The requirements indicated below are acceptable substitutions to the above minimum requirements:

 

1-Four years experience drafting or analyzing life insurance or annuity contracts for a regulatory agency or licensed insurer; or

 

2-Three years of experience drafting or analyzing life insurance or annuity contracts for a regulatory agency or licensed insurer; and productive activity toward a professional designation; or

 

3-Possession of a bachelor’s degree and one year experience drafting or analyzing life insurance or annuity contracts for a regulatory agency or licensed insurer; and productive activity toward a professional designation; or

 

4-Possession of a bachelor’s degree and passing of two (2) Society of Actuaries’ Actuarial examinations; or

 

5-Possession of a Juris Doctorate degree.

 

 

 

Insurance Analyst III (Salary range $44,017 - $70,265/year)

Education: Possession of a Bachelor’s degree from an accredited college or university.

 

Experience: Three years experience in drafting or analyzing life insurance or annuity contracts for a regulatory agency, or licensed insurer.

 

Note: The requirements indicated below are acceptable substitutions to the above minimum requirements:

 

1- Five years experience drafting or analyzing life insurance or annuity contracts for a regulatory agency or licensed insurer; or

 

2- Four years of experience drafting or analyzing life insurance or annuity contracts for a regulatory agency or licensed insurer  and passing of six (6) LOMA examinations or three (3) Society of Actuaries’ Actuarial examinations or a combination of above if approved by the supervisor; or

 

3- Possession of a Juris Doctorate degree and two years experience drafting or analyzing life insurance or annuity contracts for a regulatory agency or licensed insurer.

DESIRED OR PREFERRED QUALIFICATIONS

  • Ability to convey information clearly, both orally and in writing.
  • Ability to understand, interpret and analyze applicable laws and regulations.
  • Excellent mathematics and computer skills.
  • Proficiency in Microsoft Excel.
  • Bachelor’s degree in business, finance, mathematics, actuarial science, or related field.
  • Successful completion of at least one of the Society of Actuaries’ examinations, or once of the following professional insurance designations: Associate, Life Management Institute (ALMI) or Fellow, Life Institute (FMLI).

BENEFITS

FURTHER INSTRUCTIONS

If you have any questions about this recruitment, please contact charrison@maryland.gov.

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 #:  17-009638-0003

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.