Associate Commissioner Of Financial Regulation

The Maryland Insurance Administration (MIA) isan independent State agency that regulates Marylands $49 billion insuranceindustry and protects consumers by monitoring and enforcing insurers andinsurance professionals compliance with State law. Staff members aresubject matter experts who serve as a resource for lawmakers consumers andother public and private entities.

The MIA is charged with a broad range of responsibilities including thelicensure of insurance carriers and insurance producers (brokers/agents)operating in Maryland the conduct of financial examinations of companies tomonitor financial solvency and the review and approval of rates and contractforms. The MIA investigates reports of consumer fraud and consumercomplaints about life health automobile homeowners and/or propertyinsurance. Insurance carriers are subject to market conduct examinationsand other actions to monitor compliance with Maryland law. The MIA alsohas a unit dedicated to consumer education and outreach which participates inhundreds of events and reaches thousands of individual consumers annually.

This is a Management Service position thatserves at the pleasure of the Appointing Authority.

Baltimore CityorHybrid (between office andtelework)

The Maryland Insurance Administration isrecruiting to fill the position of Associate Commissioner of FinancialRegulation. This position reportsdirectly to the Maryland Insurance Commissioner and is the MIAs senior staffauthority on all issues pertinent to the licensing and financial oversight ofinsurance companies in the state including monitoring and regulating the financialcondition of all proposed and authorized insurers and other regulatedentities. Areas of responsibility include oversight of financialexaminations of domestic insurers; analysis of financial statements proposedtransactions independent auditor reports actuarial reports business plansand risks and operations and systems to monitor solvency; determine compliancewith State law and recommend appropriate action; and audits of premium taxreturns for companies licensed to conduct insurance business in may also involve supervising troubled potentially troubled ordissolving insurance entities including companies operating under a courtordered receivership.

The position requires extensive knowledge andapplication of the theories and practices of Generally Accepted AccountingPrinciples (GAAP) Statements of Statutory Accounting Principles (SSAP)Statements on Auditing Standards (SAS) and related informationtechnology. This position requires business knowledge and expertise ofinsurance regulation both nationally and addition toadvising the Insurance Commissioner on financial and economic issues thatinclude corporate governance risk management market stability and healthcompetition this position works closely with appointed committees of theNational Association of Insurance Commissioners (NAIC) to improve andstrengthen insurance regulatory examinations and oversight reviewing keysolvency areas capital requirements international accounting insurancevaluation reinsurance and group regulatory issues.

This position will:

• Manage staff and direct the financial analyses and examinations of regulated entities to ensure that financial solvency risk areas potential troubled companies and other significant issues are identified and handled as early as possible.
• Manage direct and control the admissions of new insurance companies into the State to ensure that financially capable companies are authorized to do business in the State.
• Serve as a member of the Insurance Commissioners senior staff and provide advice in matters relating to financial solvency and compliance with regulation and laws as appropriate. Work to coordinate regulatory efforts between the various areas of the Maryland Insurance Administration.
• Provide oversight of the audits of annual premium tax returns submitted by companies licensed to conduct business in Maryland.
• Represent the Administration and the Insurance Commissioner or serve as a member on NAIC committees and/or working groups.
• Represent the Administration and Insurance Commissioner and provide testimony at legislative hearings.
• Assist in the rehabilitation conservation or liquidation of financially troubled and insolvent companies and make recommendations to the Commissioner for regulatory actions.

• Possession of a Bachelors Degree from an accredited four-year college or university with a major in accounting business finance economics or related field with evidence of a Certified Financial Examiner (CFE) or Certified Public Accountant (CPA).
• At least 10 years of experience with a state insurance department public accounting firm or similar entity or an insurance company in a financial or audit-related area of which five years was in a manager/supervisory capacity.
• Knowledge of Maryland insurance laws and regulations.
• Excellent written and verbal communication and organizational skills.

• Prior experience as senior-level manager of a financial institution or insurance regulatory agency.
• Expertise in corporate financial analysis and substantial experience managing company examiners.
• Public policy experience drafting economic regulatory legislation.
• Experience as an insurance company financial examiner or knowledge of insurance law or insurance industry financial regulation is a plus.

Our comprehensive benefits package includes agenerous leave package; medical prescription dental and vision coverage;healthcare and dependent daycare flexible spending accounts; a defined benefitpension plan with optional 457 and 401k supplemental retirement plans; flexiblework schedules; and service that may qualify the successful candidate for the FederalPublic Service Loan Forgiveness Program.

STATE OF MARYLAND BENEFITS

Please contact: foradditional information concerning this recruitment. Online applications arestrongly preferred. For immediate consideration: upload one (1) WORD or PDFfile that includes your combined cover letter and resume to theResume tab.

If you are unable to apply online you maysubmit an application packet by mail. Your submission must be received by closeof business on the closing date for the recruitment. Postmarks will notbe accepted.

Complete application packets may be mailed to:

Maryland Insurance Administration

Human Resources - Recruitment #: 26-

St. Paul Place Suite 2700

Baltimore MD 21202

TTY Users: call via Maryland Relay

We thank our Veterans for their service to ourcountry and encourage them to apply.

As an equal opportunity employer Maryland iscommitted to recruiting retaining and promoting employees who are reflectiveof the States diversity.