Treasury Specialist III

The constitutional and statutory provisions relating to the Office of the State Treasurer can be found in Articles I, III, V, VI, and XII of the Maryland Constitution; Title 5 of the State Government Article; and Titles 2 and 6-9 of the State Finance and Procurement Article. 

Specifically, the Treasurer's Office is responsible for administering the State Insurance Program of purchased insurance and self-insurance including coverage of the State's liability under the Maryland Tort Claims Act.

The Insurance Division is responsible for administering the State’s Insurance Program. The Division is made up of four units: Claims, Underwriting, Loss Management and Litigation. The Division's goal is to provide statewide risk management through loss restoration (Claims), loss protection (Underwriting), loss management (Loss Control/Prevention), and loss resolution (Litigation).

The Underwriting Unit manages the insurance needs of the State through self-insurance, and with the procurement of commercial insurance. Commercial insurance protects the State Insurance Trust Fund from catastrophic losses and fulfills certain statutory requirements and agency contractual agreements. The Unit analyzes commercial coverage offerings, prices, limits and deductibles and then recommends to the Treasurer the combination that best protects the State of Maryland's assets.  As part of its mission to manage the State's insurance needs, the Underwriting Unit conducts an annual insurance survey to gather data on State exposures. The collected data is used to purchase commercial insurance policies and as a component for setting self-insurance premiums. This database serves as the only official record of the State’s assets. 

The Underwriter is the liaison between the insurance broker and the State agencies when insurance questions arise regarding the commercial insurance coverage, and the Underwriter also handles agency questions related to the State’s self-insurance program. The Underwriter is responsible for the accurate and timely production of required reports including MBE Reports, PAAR Reports, SBR Reports, and the GAD Report. The Underwriter maintains the broker database, Policy Placement list, Fiscal Year Invoice Tracking list, and various inventories including the Fine Art on Loan inventory. When broker services contracts come up for renewal, the Underwriter works with the Director of Insurance and the Underwriting Manager to compose RFPs and participates in the Technical Evaluation Committee for each contract.

§  Request underwriting information including but not limited to renewal applications, endorsement information, and carrier questions etc. by the due date and pend for receipt of items requested. 

§  Review all policies and endorsements for accuracy within 30, 60, 90, 120 days of receipt, requesting changes as needed, and pend for receipt of those changes.

§  Obtain certificates of insurance from the broker for commercial policies and produce self-insurance certificates for self-insured coverages as requested by State agencies.

§  Reply to agency questions about insurance and claims inquiries about commercial policies.

§  Maintain various inventories including Fine art on loan, State-owned aircraft and vessels, student athletes, and Allied Health students and supply them by the brokers' requested due date.

§  Prepare report including PAAR, MBE, SBR, GAD and the Invoice Tracking list by fiscal year. Also maintain the Policy Placement list, Broker list, and produce policy summaries in I5 system.

§  Write and proof RFPs with the Director of Insurance and the Underwriting Manager. Participate in Technical Evaluation Committees as requested, and maintain Broker Service contract files to include the contract and all subsequent amendments and correspondence.

§  Compile and manage the only property schedule database of owned properties and leased locations for the State by soliciting Survey data from all State agencies and updating the database each year. 

§  Calculate and allocate State agency self-insurance premiums for fine art, bond, and hull for the budget process. Calculate blanket commercial insurance premiums and allocate a portion to each State agency; also calculate commercial insurance premiums for agency-specific policies, all of which the Underwriter later updates to the actual premiums paid. 

Education: Possession of a bachelor’s degree from an accredited four year college or university including or supplemented by at least 18 credit hours in accounting, business administration or equivalent business subjects.

Experience: Three years of employment in responsible public administration, business administration, and/or accounting or auditing.

OR 

Education: Graduation from a standard high school, including or supplemented by 18 credited hours in business administration, accounting, or equivalent business subjects. 

Experience: Seven years of experience as defined above.

Note: 

1. Candidates may substitute U.S. Armed Forces military service experience as a commissioned officer in financial administration and program classification or financial administration specialty codes in the accounting and budget group field of work on a year-for-year basis for the required experience and education.

Applicants must meet the selective qualification(s) to be considered. Include clear and specific information on your application regarding your qualifications.

• One year of the required years of experience must be specifically in the insurance underwriting field.

Preference will be given to applicants who possess the following preferred qualification(s). Include clear and specific information on your application regarding your qualifications.

§ Underwriting experience in commercial lines working with or for an insurance company/agency 

§ Bachelor’s degree or continuing education in insurance, business, or other related discipline/field 

§ AU, CPCU, ARM, ARMP or other underwriting designations 

§ Large Commercial Account underwriting experience 

§ Working knowledge of public entity procurement processes 

§ Proficiency with Microsoft Word, Excel and Outlook.

Candidates must be willing to work in the Annapolis area.

Applicants who meet the minimum and selective qualifications will be admitted to examination for this classification. Successful candidates passing the examination will be ranked as BEST QUALIFIED, BETTER QUALIFIED, or QUALIFIED and placed on the employment (eligible) list for one year.

The examination may consist of a rating of your education, training, and experience related to the requirements of the position.  You may be required to complete a qualifications supplement, or the rating may be based on your application.  Therefore, it is important that you provide complete and accurate information on your application. Report all experience and education that is related to this position.

This is a full-time, permanent position with the State of Maryland, and is eligible for full State benefits.  Some of these benefits include:

· Comprehensive, subsidized health, dental and prescription plans

· Flexible Spending Account plans for Health Care and Daycare

· Paid holidays 12-13 per year

· Generous paid leave package (annual, sick, personal and compensatory leave)

· State Pension ("defined benefit" plan)

· Tax-deferred supplemental retirement savings plans (401(k) and 457)

· Free parking

To learn more, click here:  

     STATE OF MARYLAND BENEFITS

Job opportunities within the Maryland State Treasurer’s Office are accessible through JobAps, the Statewide Recruitment, Examination and Applicant tracking system.  Please upload a current copy of your resume with your application.

Electronic application is strongly preferred; however, if you do not have access to a computer, you may send a copy of your resume to the State Treasurer's Office, Human Resources, 80 Calvert Street, Room 109, Annapolis MD 21401, or fax to 410-260-4090. 

Any questions regarding this recruitment or the recruitment process may be directed to the STO Personnel Office at 410-260-7078. 

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

TTY Users:  Call via Maryland Relay