FINANCIAL ANALYST I/II/III
MIA Analyst I/MIA Analyst II/MIA Administrator I
Recruitment #23-009640-0003
Department | Maryland Insurance Administration |
---|---|
Date Opened | 6/5/2023 3:50:00 PM |
Filing Deadline | 7/25/2023 09:05:00 AM |
Salary | Commensurate with experience |
Employment Type |
Full-Time
|
HR Analyst | Carla Harrison |
Work Location |
Baltimore City
|
Introduction
The Maryland Insurance Administration (MIA) is an independent
State agency that regulates Maryland’s $46 billion 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
Financial Analyst I:
grade 15 (Starting Salary:$52,575 - $58,635/year), with potential
progression to $80,992/year
Financial Analyst II: grade
16 (Salary range: $55,975 - $86,450/year)
Financial Analyst III: grade
17 (Salary range: $59,608 -
$92,290/year)
LOCATION OF POSITION
Baltimore City, Hybrid (between office and telework), or 100%
remote
POSITION DUTIES
The MIA is recruiting to fill two Financial Analyst positions in
the Financial Regulation Division’s, Financial Analysis Unit. Financial Analyst
I/II/III represents the entry, intermediate and full performance levels of
financial analysis work. An incumbent in this position monitors domestic
(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. Specific duties include performing
in-depth analyses of insurers’ annual and quarterly statements and other
filings, researching related topics/issues, documenting significant findings,
writing an overall summary, preparing draft correspondence, and concluding 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.
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 Plan
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.
BENEFITS
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 #: 23-009640-0003
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.