Algorithmic ability has no correlation to the ability to write maintainable code, though. Most time at work is not spent demonstrating ability to regurgitate algorithms.
This is not true in my experience. I usually see a strong correlation between algorithmic ability and writing maintainable code. At various organizations I have worked for, I have seen that the ones with strong algorithm skills also happen to be critical thinkers who put a lot of emphasis on simple, elegant, and robust design and code.
So I am very surprised to know that this correlation I observe may not be true in general. How did you come to this conclusion?
The correlation between emphasis on simple, elegant design and code and algorithmic chops is indeed uncanny.
And I'd add "clarity of articulation" to that -- being able to express your thoughts and the problem/solution structure clearly and succinctly is a great indicator as well. Huge overlap with both code maintainability and algo quality.