Deputy Director, Insurance, Compliance and Reporting (ICR)

State of Maryland•Baltimore City, MD

11d•Onsite

About The Position

The Maryland Workers' Compensation Commission seeks to secure the equitable and timely administration of the Maryland Workers' Compensation law. The Deputy Director serves as the chief operating, supervisory, and financial risk-management official for the Insurance, Compliance and Reporting Division. This position is responsible for directing the daily operations of the Division; supervising, developing, and evaluating all Division staff assigned to self-insurance, employer compliance, insurance reporting, and related regulatory programs; and ensuring that the Division’s work is completed accurately, consistently, and within established legal, regulatory, and operational deadlines. A principal responsibility of the position is the administration and financial oversight of Maryland’s workers’ compensation self-insurance program. The Deputy Director directs the comprehensive financial, actuarial, claims, insurance, legal-document, and compliance review of active, financially distressed, terminated, and prospective self-insured employers. The position evaluates corporate financial condition, liquidity, leverage, profitability, cash flow, debt obligations, creditworthiness, claims reserves, loss development, actuarial projections, excess insurance coverage, security instruments, parental guarantees, organizational changes, and industry-specific economic conditions. Based on these evaluations, the Deputy Director develops recommendations concerning approval or continuation of self-insurance authority, security requirements, retention levels, additional financial reporting, corrective actions, and other conditions necessary to protect injured workers and the Commission. The Deputy Director also manages the operational execution of the Commission’s Employer Compliance Program. This responsibility includes overseeing the identification and investigation of employers that may be operating without required workers’ compensation coverage; coordinating compliance efforts with other governmental agencies; directing notices, referrals, hearing preparation, and follow-up activity; and ensuring that employers obtain and maintain legally required coverage. The position exercises substantial independent judgment and delegated authority in resolving complex operational, financial, regulatory, and personnel matters. The Deputy Director develops completed staff work and recommendations for review by the Division Director and presentation to the Commissioners. The position acts for the Director in the Director’s absence on operational matters and represents the Division in meetings with employers, corporate officers, attorneys, actuaries, insurance professionals, financial institutions, governmental officials, contractors, and other stakeholders. The Deputy Director reports to the Director of the Insurance, Compliance and Reporting Division. The Director establishes Division policy, strategic direction, risk-governance standards, and final recommendations to the Commission. Within that framework, the Deputy Director has primary responsibility for workforce management, program execution, technical review, quality control, and the timely completion of the Division’s regulatory workload.

Requirements

A Bachelor’s degree from an accredited college or university in Accounting, Finance, Business Administration with a concentration in Accounting or Finance, or a closely related field.
Five years of professional experience in financial analysis, credit analysis, financial risk management, commercial banking, accounting, auditing, insurance financial analysis, or a closely related field.
Two years of this experience must have included responsibility for supervising employees, managing a program or major function, or leading the work of professional staff.

Nice To Haves

Five or more years of experience in commercial banking, commercial credit underwriting, corporate credit analysis, financial risk management, or a comparable role evaluating an organization’s financial condition and creditworthiness.
Experience performing advanced analysis of audited financial statements, including liquidity, leverage, profitability, cash flow, debt service capacity, working capital, and financial trends.
Experience identifying financially distressed or higher-risk organizations and recommending enhanced monitoring, additional financial protections, corrective actions, or other risk-mitigation measures.
Experience supervising professional employees, including assigning and reviewing work, establishing priorities and deadlines, evaluating performance, coaching employees, and addressing performance issues.
Experience conducting independent research and investigative financial analysis using information from multiple sources to identify risks, inconsistencies, or issues not readily apparent from information initially presented.

Responsibilities

Directs the daily operations of the Insurance, Compliance and Reporting Division and provides direct supervision to Division employees assigned to self-insurance, employer compliance, insurance reporting, certificate-of-compliance, and administrative functions.
Develops operational work plans, establishes priorities and deadlines, assigns and reviews work, monitors workload distribution, and reallocates staff resources in response to changes in risk, filing volume, statutory deadlines, Commission priorities, and employee availability.
Establishes standards for the quality, consistency, documentation, and timeliness of Division work products.
Reviews complex staff analyses, correspondence, compliance actions, financial evaluations, hearing materials, and recommendations before submission to the Director.
Exercises the full range of supervisory responsibilities, including employee selection, onboarding, training, coaching, performance evaluation, leave approval, performance improvement, disciplinary recommendations, succession planning, and professional development.
Identifies deficiencies in procedures, staff capacity, technical knowledge, internal controls, or program performance and implements corrective measures.
Promotes cross-training to ensure continuity of critical regulatory operations and reduces dependence on individual employees for specialized program knowledge.
Develops written procedures, review protocols, templates, risk-rating methodologies, performance measures, and workflow controls.
Ensures that staff consistently apply applicable laws, regulations, Commission orders, Division policies, accounting principles, and regulatory standards.
Provides the Director with regular reports concerning workload, staffing, compliance activity, high-risk self-insurers, unresolved cases, program performance, operational barriers, and matters requiring executive or Commission action.
Manages the Division’s comprehensive financial oversight program for employers applying for or authorized to maintain workers’ compensation self-insurance in Maryland.
Directs and performs advanced analysis of audited financial statements, interim financial statements, cash-flow information, debt agreements, credit reports, actuarial reports, claims data, loss-development information, reserve adequacy, corporate guarantees, excess insurance policies, security instruments, and other relevant information.
Evaluates financial strength using liquidity, leverage, profitability, solvency, cash-flow, working-capital, debt-service, reserve-development, and industry-specific measures.
Determines whether financial trends or operating conditions indicate an increased risk that an employer may be unable to satisfy its workers’ compensation obligations.
Establishes enhanced monitoring requirements for employers demonstrating financial weakness or increased risk.
Monitors economic, financial, and industry developments affecting self-insured employers, including bankruptcies, mergers and acquisitions, divestitures, restructuring activities, covenant violations, accounting irregularities, regulatory investigations, credit downgrades, adverse audit opinions, significant market-value deterioration, labor disruptions, operational closures, and other events that may affect an employer’s ability to pay claims.
Develops recommendations concerning security deposits, bonds, letters of credit, securities, parental guarantees, excess insurance coverage, self-insured retention levels, financial reporting requirements, corrective-action plans, conditional approvals, suspensions, or termination of self-insurance authority.
Communicates directly with chief financial officers, controllers, general counsel, risk managers, actuaries, auditors, brokers, financial institutions, sureties, excess insurance carriers, third-party administrators, and other corporate representatives to obtain information, resolve discrepancies, negotiate corrective actions, and communicate regulatory expectations.
Prepares comprehensive financial risk memoranda and recommendations for the Director and the Commission.
Manages the operational administration of the self-insurance program from initial application through continuing authorization and final termination.
Directs the review of applications for individual and governmental group self-insurance, additions or removals of subsidiaries, corporate reorganizations, mergers, name changes, changes in third-party administrators, requests for changes in retention, replacement or modification of security, excess insurance changes, parental guarantees, and other actions requiring Commission approval.
Ensures that application and continuing-approval packages include complete financial, actuarial, claims, insurance, legal, and organizational documentation.
Determines whether additional information, security, insurance protection, financial conditions, or legal safeguards are required.
Directs the annual review of self-insured claims information and accountability reports.
Evaluates trends in claim frequency, severity, reserves, open claims, paid losses, incurred losses, excess recoveries, and administrative practices.
Determines whether changes in claims experience warrant additional financial review, audit activity, security, insurance coverage, or regulatory action.
Assists the Director in developing and administering audit and actuarial-review contracts relating to self-insured employers and other Division programs.
Recommends entities for audit based on financial risk, claims activity, prior findings, reporting deficiencies, elapsed time since the prior audit, or other risk indicators.
Reviews audit scopes, contractor work products, findings, corrective-action plans, and employer responses.
Develops proposed recommendations, conditions, correspondence, and supporting documentation for Commission consideration.
Coordinates with the Office of the Attorney General concerning legal instruments, regulatory interpretation, enforcement matters, Commission orders, and actions involving noncompliance.
Tracks the implementation of Commission orders and ensures that self-insured employers, sureties, financial institutions, excess carriers, third-party administrators, and other parties satisfy all conditions within required timeframes.
Resolves complex program issues within delegated authority and promptly escalates matters involving significant financial exposure, legal precedent, policy implications, or potential Commission action to the Director.
Manages the daily execution of the Commission’s Employer Compliance Program, which identifies and addresses employers that may be operating without workers’ compensation insurance required by Maryland law.
Establishes case-review, investigation, notice, hearing-referral, and follow-up procedures.
Assigns cases to staff, reviews evidence, monitors case aging, and ensures consistent treatment of employers.
Coordinates the comparison and analysis of Commission coverage information with employer, payroll, unemployment insurance, licensing, registration, and other governmental data to identify employers that may lack required coverage.
Directs staff communications with employers, insurers, insurance producers, attorneys, accountants, payroll providers, licensing agencies, and other parties to verify coverage, clarify legal obligations, and obtain documentation.
Determines whether available information supports case closure, additional investigation, referral for a Commission hearing, legal review, or another enforcement action.
Reviews hearing files to ensure that evidence is complete, reliable, and appropriately documented.
Coordinates operational compliance activities with the Department of Labor, Maryland Insurance Administration, governmental licensing authorities, the Office of the Attorney General, and other State or local agencies.
Analyzes compliance trends, repeat violations, industries with elevated noncompliance, data limitations, and procedural barriers.
Recommends policy, process, technology, regulatory, or legislative changes to strengthen the Commission’s ability to identify uninsured employers and obtain timely compliance.