SENIOR LIFE AND HEALTH INSURANCE 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.

* This is a Management Service position that serves at the pleasure of the Appointing Authority.

Baltimore City, Hybrid (between office and telework)

The MIA is recruiting for a Senior Life and Health Insurance Analyst in the Life and Health Division.  This position reviews the most complex types of form and rate filings submitted by life and health insurance carriers to determine compliance with Maryland laws, regulations, and MIA requirements.  This includes the review of: policy form filings for all types of life insurance products, credit insurance products, annuities, health insurance products (including comprehensive medical, long-term care, Medicare supplement, disability, and other limited benefit coverages), nonprofit health service plan products, HMO products, and dental plan organization products; credit rate deviation filings; provider contract filings for HMOs and dental plan organizations; advertising filings for health insurance; private review agent applications; and medical director applications.  This position will also assist with actuarial review of life and annuity filings, including analysis, evaluation, and interpretation of actuarial memorandum filings, formulas, and non-forfeiture compliance in accordance with Maryland Non-Forfeiture laws. This position corresponds with regulated entities regarding deficiencies in filings and makes recommendations to regulated entities on revisions necessary to bring the filings into compliance with Maryland laws and regulations.  The position also provides training and guidance to all of the analysts in the Life and Health Division in the review of all types of insurance products.

Education: Possession of a bachelor’s degree from an accredited college or university.

Experience: Four years of professional experience evaluating or developing life and health insurance regulatory policies and procedures, investigating or responding to complaints regarding life and health insurance, or designing, drafting, or analyzing policy forms, contracts, services, or programs for compliance on behalf of a health plan sponsor, licensed insurance carrier, or insurance regulatory agency.

Note: The requirements indicated below are acceptable substitutions to the above minimum requirements:

1- A high school diploma and six years of experience evaluating or developing life and health insurance regulatory policies and procedures, investigating or responding to complaints regarding life and health insurance, or designing, drafting, or analyzing policy forms, contracts, services, or programs for compliance on behalf of a health plan sponsor, licensed insurance carrier, or insurance regulatory agency; or

2-A bachelor’s degree from an accredited college or university, two years of the required experience, and passing of six (6) LOMA examinations or 6 AHIP examinations or three (3) Society of Actuary’s Actuarial examinations or a combination of above if approved by the supervisor; or

3- A post-graduate degree in Actuarial Science, Mathematics, Statistics, Finance, Accounting, Business or related field, and two years of the required experience. 

• Professional insurance designation: Associate, Life Management Institute (ALMI); Associate, Insurance Regulatory Compliance (AIRC); Fellow, Life Management Institute (FMLI); or Professional in Insurance Regulation (PIR);

• A strong foundation in mathematics and actuarial science;

• Passing of a Society of Actuary’s Actuarial examination or undergraduate/post-graduate coursework in actuarial science, finance, statistics, or other advanced mathematics;

• Professional experience analyzing, interpreting, and applying Maryland and federal life and health insurance laws and regulations;

• Educational training or professional experience analyzing, evaluating and interpreting actuarial memorandum filings, formulas, and non-forfeiture law requirements for life, annuity and credit business; 

• Professional experience reviewing credit insurance prima facie rates submitted by carriers.

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

Please contact: charrison@maryland.gov for additional information concerning this recruitment. Online applications are strongly preferred. For immediate consideration: upload one (1) WORD or PDF file, that includes your combined cover letter and resume, to the "Resume" tab.

If you are unable to apply online, you may submit an application packet by mail. Your submission must be received by close of business, on the closing date for the recruitment.  Postmarks will not be accepted.

Complete application packets may be mailed to:

Maryland Insurance Administration

Human Resources - Recruitment #: 24-009642-0004

St. Paul Place, Suite 2700

Baltimore, MD 21202

TTY Users: call via Maryland Relay

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

As an equal opportunity employer Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State’s diversity.