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FINANCIAL ANALYST I-III **Reposted**

Recruitment #22-009639-0001

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.

GRADE

**Salary Guidelines apply to State employees**

 

Financial Analyst I:  grade 15 (Starting Salary: $45,439- $52,525/year), with potential progression to $73,770

 

Financial Analyst II: grade 16  (Salary range:  $48,360 - $78,741/year)

 

Financial Analyst III: grade 17 (Salary range: $51,481 - $84,061/year)

LOCATION OF POSITION

Baltimore City, Telework, or Hybrid (between office and telework)

POSITION DUTIES

The MIA is recruiting to fill a Financial Analyst I, II, or III level position in the Financial Regulation Division’s, Financial Analysis Unit. Financial Analyst I – III represents the entry through full performance levels of financial analysis work.  This position monitors domestic (Maryland) and foreign (non-Maryland) insurance companies which transact business in Maryland for solvency and for compliance with applicable laws, regulations, and other regulatory requirements to protect Maryland citizens. The position performs in-depth analyses of insurers’ annual and quarterly statements and other filings, researches related topics/issues, documents significant findings, writes an overall summary, prepares draft correspondence, and concludes on the financial condition and statutory compliance of the insurers.

 

The Financial Analyst reviews insurers’ filings such as dividend notifications, intercompany agreements, holding company filings, and other documents for propriety and compliance with applicable laws, regulations, and policies; and prepares summaries on the financial condition and statutory compliance of insurers. This position promptly identifies significant issues and solvency risk areas and potentially troubled companies, and develops the MIA’s recommended course of action.

MINIMUM QUALIFICATIONS

FINANCIAL ANALYST I

 

Education: Bachelor's degree in accounting from an accredited college or university; or a bachelor’s degree from an accredited college or university to include or supplemented by 6 credit hours in Accounting, 3 credit hours in Finance or Economics, 3 credit hours in Business Law.

 

Experience: None

 

FINANCIAL ANALYST II

 

Education: Bachelor's degree in accounting from an accredited college or university; or a bachelor’s degree from an accredited college or university to include or supplemented by 6 credit hours in Accounting, 3 credit hours in Finance or Economics, 3 credit hours in Business Law.

 

Experience: One year of experience with a state insurance department, public accounting firm or similar audit entity, or another entity in a financial or audit-related area.

 

FINANCIAL ANALYST III

 

Education: Bachelor’s degree from an accredited college or university; and

 

Experience: Two years of experience with a state insurance department, public accounting firm or similar audit entity, or another entity in a financial or audit-related area.

 

Special Requirements: Successful completion of at least one part of the Certified Public Accountant (CPA) or Accredited Financial Examiner (AFE) examination.

SELECTION PROCESS

A transcript is required to verify that applicants meet the education requirements for this position.  For education obtained outside of the U.S., a course-by-course evaluation of the equivalent American education, as determined by a foreign credential evaluation service, is required. 


FURTHER INSTRUCTIONS

Please contact: charrison@maryland.gov for additional information concerning this recruitment. Online applications are strongly preferred. For immediate consideration:

 

1-   Upload one (1) WORD or PDF file, that includes your combined cover letter and resume, to the "Resume" tab. Please ensure your cover letter states your salary requirements.

2-   Upload transcript and, if applicable, a course-by-course evaluation of foreign education credentials.

 

If you are unable to apply online, you may submit an application packet by mail.  Your submission must be received by close of business, on the closing date for the recruitment.  Postmarks will not be accepted. 

 

Complete application packets may be mailed to:

Maryland Insurance Administration

Human Resources - Recruitment #:  22-009639-0001

St. Paul Place, Suite 2700

Baltimore, MD 21202

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.

 



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