Chief Examiner

State of Maryland • Baltimore City, MD

10d • Hybrid

About The Position

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.

Requirements

• Bachelor's Degree from an accredited college or university.
• Five 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.
• Four of those years must be in an in-charge or supervisory capacity.
• Active Certified Financial Examiner (CFE) designation in accordance with the National Association of Insurance Commissioner (NAIC) requirement for Financial Examiners.

Nice To Haves

• Knowledge of Generally Accepted Accounting Principles (GAAP).
• Knowledge of Generally Accepted Auditing Standards (GAAS).

Responsibilities

• Manages the entire financial examination process, from scheduling examinations to final report issuance, to ensure the financial solvency of insurance companies and health maintenance organizations licensed in Maryland.
• Ensures examinations are conducted effectively and efficiently.
• Ensures examination procedures are sufficient to assess the companies' financial condition.
• Ensures procedures will detect financial solvency risk areas, potential troubled companies and other significant issues.
• Ensures examinations meet the MIA and National Association of Insurance Commissioners (NAIC) Accreditation standards.
• Schedules all examinations.
• Reviews and approves initial examination planning documents.
• Attends status meetings on examinations.
• Reviews selected work papers in high-risk areas.
• Provides direction and input to the examiners as needed.
• Reviews and approves final examination reports.
• Designs and conducts training for the staff of field examiners.
• Meets with companies on financial and admission issues.
• Attends NAIC conferences.

Benefits

• A 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager