DIRECTOR OF COMPANY LICENSING
|Department||Maryland Insurance Administration|
|Date Opened||12/2/2022 10:00:00 AM|
|Filing Deadline||3/3/2023 4:24:00 PM|
|Salary||$69,672.00 - $112,091.00/year (Salary Guidelines Apply)|
|HR Analyst||Carla Harrison|
The Maryland Insurance Administration (MIA) is an independent State agency that regulates Maryland’s $46 billion insurance industry and protects consumers by monitoring and enforcing insurers’ and insurance professionals’ compliance with State law. Through the diligence of a highly professional staff of market analysts, financial analysts, accountants, lawyers, law enforcement officers, actuaries, complaint investigators, and others, the MIA works to facilitate a strong and competitive insurance marketplace where consumers are well informed and treated fairly. 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.
LOCATION OF POSITION
The Director conducts detailed review and analysis of initial applications by regulated entities for admission into Maryland to ensure that applications are processed in accordance with Maryland laws and regulations, Administration procedures, and guidelines established by the NAIC. This position monitors the financial condition of all foreign regulated companies to identify potential solvency issues; implements appropriate regulatory actions and prepare orders to suspend Maryland operating authority as necessary; and identifies, recommends, coordinates and testifies on legislative and regulatory changes
The Director of Company Licensing directly supervises full performance and lead level Company Licensing Analysts and Junior Analysts staff.
Education: Possession of a bachelor's degree in accounting, business, finance or related field from an accredited college or university.
Experience: Four years of experience performing financial related work for an insurance regulatory agency or insurance company. One year of this experience must have been in a supervisory capacity.