Insurance Compliance Analyst II-III

2 weeks ago

Baltimore, Maryland, United States State of Maryland Full time

Overview


The Maryland Insurance Administration (MIA) operates as an autonomous State entity overseeing Maryland's substantial insurance sector, valued at $46 billion. Our mission is to safeguard consumers by ensuring that insurers and insurance professionals adhere to State regulations.

Our dedicated team comprises market analysts, financial specialists, legal experts, law enforcement personnel, actuaries, and complaint investigators, all committed to fostering a robust and competitive insurance environment where consumers are informed and treated equitably.

The MIA undertakes a wide array of responsibilities, including the licensing of insurance providers and agents in Maryland, conducting financial audits of companies to assess their fiscal health, and reviewing and sanctioning rate structures and contract templates.

The MIA also investigates allegations of consumer fraud and handles complaints regarding various insurance types, including life, health, auto, homeowners, and property insurance. Insurance providers are subject to market conduct evaluations and other measures to ensure compliance with Maryland legislation.

Additionally, the MIA has a dedicated consumer education and outreach unit that engages in numerous events, reaching thousands of consumers each year.



  • This is a Special Appointment role that operates at the discretion of the appointing authority.

GRADE

Insurance Compliance Analyst II (grade 16): Salary range: $60,987 - $98,313/year

Insurance Compliance Analyst III (grade 17): Salary range: $64,984 - $104,954/year

POSITION LOCATION

Baltimore City, Hybrid (combination of office and remote work), or fully remote

ROLE RESPONSIBILITIES


The MIA's Financial Regulation Division is seeking to fill an Insurance Compliance Analyst position at the II (intermediate) or III (full performance) levels.

Insurance Compliance Analysts are responsible for conducting financial audits of Maryland-based insurance firms.

This role involves scrutinizing individual financial statement accounts for compliance, solvency, or accounting discrepancies; and preparing documentation to record the examination process.

Portions of the work are conducted at the offices of insurance firms, while other tasks are performed remotely.

Consequently, Insurance Compliance Analysts may need to travel within and outside the state to visit the offices of insurance companies or other regulated entities, or to other locations that may provide essential information for completing assigned duties.


MINIMUM QUALIFICATIONS

Insurance Compliance Analyst II

Education:

A bachelor's degree in accounting from an accredited institution; or a bachelor's degree supplemented by 6 credit hours in Accounting, 3 credit hours in Finance or Economics, and 3 credit hours in Business Law.


Experience:

A minimum of one year of experience with a state insurance department, public accounting firm, or a similar audit organization, or another entity in a financial or audit-related capacity.


Insurance Compliance Analyst III

Education:
A bachelor's degree from an accredited institution.

Experience:

A minimum of two years of experience with a state insurance department, public accounting firm, or a similar audit organization, or another entity in a financial or audit-related capacity.


Special Requirements:

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


SELECTION PROCESS

A transcript is required to confirm that applicants meet the educational criteria for this position. For education obtained outside the U.S., a course-by-course evaluation of foreign transcripts may be requested prior to the interview.

BENEFITS


Our comprehensive benefits package includes a generous leave policy; medical, prescription, dental, and vision coverage; flexible spending accounts for healthcare and dependent daycare; a defined benefit pension plan with optional 457 and 401k retirement plans; flexible work schedules; and service that may qualify the successful candidate for the Federal Public Service Loan Forgiveness Program.


STATE OF MARYLAND BENEFITS

APPLICATION INSTRUCTIONS

For further information:
regarding this recruitment, online applications are strongly preferred.

For immediate consideration:


1- Upload one (1) WORD or PDF file, at the "Resume" tab, that contains a cover letter stating your interest and specific salary requirements, along with a current professional resume.


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 #:

St. Paul Place, Suite 2700

Baltimore, MD 21202

TTY Users:
call via Maryland Relay

We appreciate 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 reflect the State's diversity.

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