Financial Regulation Analyst, Contractual

State of Maryland • Baltimore City, MD

1d • 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 contractual position will work up to 40 hours per week through January 1, 2027.

Requirements

• Possession of a Bachelor’s degree from an accredited college or university.
• Two years of professional experience conducting research, policy analysis, legislative analysis or related analytical work.

Nice To Haves

• Experience researching and/or interpreting federal or state laws or regulations.
• Experience drafting legislative or policy reports.
• Familiarity with the insurance industry.
• Bachelor’s degree in Business Administration, Public Policy, Law, Political Science or related field.

Responsibilities

• Lead the research, data collection, and report drafting required to fulfill Senate Bill 890 (2026) which will evaluate the overall utilization of captive insurance companies by nonprofit health systems and for-profit entities operating in Maryland.
• Research and review existing federal and state regulatory and taxation frameworks focusing on mechanisms used to fund state regulatory oversight and how other states tax capital contributions and internal reserves, including whether different tax treatments are applied based on the nonprofit or for-profit status of the captive owner.
• Evaluate the feasibility, utility, and potential structure of establishing a State registry for captive insurance companies domiciled in other jurisdictions or offshore but used by entities in the State.
• Analyze how a registry framework could provide regulatory transparency and fund oversight operations as an alternative to a premium tax framework, while assessing inter-state confidentiality constraints.
• Collect, review, and analyze aggregate compliance data and results from completed investigations regarding the unauthorized use of captive insurance by nonprofit and for-profit entities in the State.
• Draft the Senate Bill 890 Report for internal executive review prior to submission to the Governor and the Maryland General Assembly.

Benefits

• Subsidized health benefits coverage for themselves and their dependents (contractual employees working 30+ hours/week may be eligible).
• 25% of premiums for medical and prescription coverage paid by employee, 75% subsidized by the State.
• Option to enroll in dental coverage, accidental death and dismemberment insurance, and life insurance (employee pays full premium).
• Leave accrues at a rate of one hour for every 30 hours worked, not to exceed 40 hours per calendar year, after 120 days of employment.

What This Job Offers

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