SENIOR FINANCIAL ANALYST I **REPOST** MIA Administrator III

State of Maryland; Maryland; Hybrid; USD 70,000 - 100,000; Full time

Job summary

The Maryland Insurance Administration (MIA) seeks a Senior Financial Analyst I in the Financial Regulation Division to monitor solvency and compliance of insurers transacting in Maryland. Based in Baltimore City or hybrid work arrangement, you will perform in-depth analyses of insurer statements and other filings to assess risk and financial condition.

You will mentor and review the work of Financial Analysts, prepare summaries, and draft correspondence that communicates findings to management.

Qualifications

• Education: Bachelor's degree from an accredited college or university.
• Experience: Three years of experience with a state insurance department, a public accounting firm or similar audit entity, or another entity in a financial or audit-related area is required.
• Licenses, Registrations and Certifications: Active CPA, Accredited Financial Examiner (AFE), or Certified Financial Examiner (CFE) designation required.

Responsibilities

• Lead monitoring of solvency and compliance for insurers transacting in Maryland.
• Analyze annual and quarterly statements to assess risk exposure and financial condition.
• Review the work of assigned analysts and prepare summaries and drafts for management.

Education

Bachelor's degree from an accredited college or university

Job description

Introduction

The Maryland Insurance Administration (MIA) is an independent State agency that regulates Maryland’s $49 billion insurance industry and protects consumers by monitoring and enforcing insurers’ and insurance professionals’ compliance with State law. 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 Management Service position that serves at the pleasure of the Appointing Authority.

GRADE

MIA 0019

LOCATION OF POSITION

Baltimore City or Hybrid (between office and telework)

POSITION DUTIES

The MIA is recruiting to fill a Senior Financial Analyst I position with the Financial Regulation Division. This position represents the lead level of work monitoring domestic and foreign insurance companies that 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, to identify and assess the insurer’s exposure to the branded risk classifications; and investigates and assesses significant unusual items, fluctuations or other issues found and significant prospective risks with the potential to affect the solvency of the insurer. The Senior Financial Analyst I 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. In addition, the Senior Financial Analyst I performs in-depth reviews of the work products of assigned Financial Analysts; prepares review notes related to those reviews; and ensures that areas of concern are properly addressed.

Minimum Qualifications

• Education : Bachelors' degree from an accredited college or university.
• Experience : Three years of experience with a state insurance department, a public accounting firm or similar audit entity, or another entity in a financial or audit-related area is required.
• Licenses, Registrations and Certifications: Active Certified Public Accountant (CPA), Accredited Financial Examiner (AFE), or Certified Financial Examiner (CFE) designation required.

Benefits

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

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.