Market Data Analyst

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. 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.

16

Baltimore City (Hybrid)

This position is responsible for providing technical support to the Market Analysis Chief. This position’s primary responsibility requires monitoring the insurance industry’s compliance with Maryland’s law and regulations by performing market surveillance analysis, reviews, studies, and data calls.

The MIA's Market Regulation and Professional Licensing Division is recruiting for the position of Market Data Analyst.  This position reports to the Chief of Market Analysis and is responsible for monitoring, collecting, validating and interpreting insurance industry data in support of the MIA’s assessment of the business practices of insurers and other regulated entities.  The Market Data Analyst performs market surveillance, analysis, reviews, studies and data calls; and assists in developing and implementing methods, procedures, systems and analytic techniques for market data analysis. The Market Data Analyst also performs the qualitative review of non-data information. The position also serves as technical liaison to MIA and various external data management and systems departments. This position must be able to multi-task and work effectively both independently and cooperatively; and involves occasional travel and attendance at various training, industry or regulatory seminars and meetings.

Education: Bachelor's degree from an accredited four-year college or university.

 

Experience:  Two years of experience analyzing and making recommendations on datasets and qualitative information.

 

Notes:  The requirements indicated below are acceptable substitutions to the minimum requirements.

1.A Master's degree in Business Administration, Finance, Data Analytics, Statistics or related field can substitute for the required experience; or

2. A Bachelor's degree from an accredited four-year college or university in Business Administration, Finance, Data Analytics, Statistics or a related field, and successful completion of at least one Society of Actuary exam.

The ideal candidate will have:

• Master's degree in Business Administration, Finance, Data Analytics
• Analysis experience to include the use of the following skills (including, but not limited to) descriptive statistics, advanced sorting and filtering (utilizing Excel or other software); the use of pivot tables, advanced use of Microsoft Word editing features in the drafting of letters and reports, the use of advanced conditional formatting in Excel, and advanced functions, such as VLookups, HLookups, and IF functions in Excel.  

 

STATE OF MARYLAND BENEFITS

 

If you have any questions concerning this recruitment, please contact lynn.hill@maryland.gov.  

For immediate consideration, upload one WORD or PDF file, at the "Resume" tab, that contains:

1. a cover letter stating your interest and specific salary requirements; and

2. a current professional resume.  

If you are unable to apply online, you may submit via mail. 

Please be sure to include all documents listed above to ensure timely processing. Complete application packets may be mailed to:

Maryland Insurance Administration Human Resources - Recruitment #: 22-009640-0003

200 St. Paul Place, Suite 2700

Baltimore, MD 21202

Incomplete submission will not receive consideration.

TTY Users: call via Maryland Relay