senior actuary - Baltimore, United States - State of Maryland

Description

Introduction

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.

* This is a Management Service position that serves at the pleasure of the appointing authority.

GRADE

MIA 0026

LOCATION OF POSITION

Baltimore City or Hybrid (between office and telework)

POSITION DUTIES

The Maryland Insurance Administration's Office of the Chief Actuary (OCA) is recruiting for the position of Senior Actuary. This senior position handles health insurance actuarial responsibilities for the MIA, with primary focus on health insurance rate filings from non-profit health service plans, health maintenance organizations and insurance carriers. The Senior Actuary reviews rate filings for adherence to actuarial principles and compliance with Federal and Maryland statutes and regulations; analyzes information received from companies supporting pricing assumptions specified by Federal and State statutes and regulations; provides analysis of information to OCA staff for use in rate reviews; and produces reports as required under the law and under the guidance of the Chief Actuary. This position reviews Long-Term Care, Fully-Insured, and Stoploss filings as well as oversee actuarial students reviewing others.

The Senior Actuary will also review proposed State and federal legislation; provide actuarial support to other departments in the MIA; and directly supervises an Actuarial Analyst.

MINIMUM QUALIFICATIONS

This position requires:

• A Bachelor's degree from an accredited four-year college or university.
• A minimum of five (5) years of health insurance actuarial experience.
• Associate of the Society of Actuaries (ASA) or Fellow of the Society of Actuaries (FSA), and member of the American Academy of Actuaries (MAAA).

DESIRED OR PREFERRED QUALIFICATIONS

§ Direct experience with Long-Term Care strongly preferred.

§ Strong written and verbal communication skills

BENEFITS

STATE OF MARYLAND BENEFITS

FURTHER INSTRUCTIONS

Please contact: 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. Please ensure your cover letter states your interest and salary requirements.

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 #:

200 St. Paul Place, Suite #2700

Baltimore, MD 21202

TTY Users: call via Maryland Relay