ACCOUNTANT ADVANCED

The Maryland State Retirement Agency is the administrator of the Maryland State Retirement and Pension System.  The System is a multi-employer, public employees’ benefit retirement system composed of twelve (12) separate retirement and pension systems with additional plan components, covering approximately 200,000 active members and more than 150,000 retires and beneficiaries.

120 East Baltimore Street Baltimore, Maryland 21202

This position works in the Payroll Maintenance Section of the Data Control Unit. Annually, the Section is responsible for validating, reconciling and updating over five million (5,000,000) individual payroll transactions with combined monetary value of over seven hundred and twenty-five million dollars ($725,000,000). The main purpose of this position is to facilitate the posting of complete and accurate retirement payroll data to the Maryland State Retirement Agency’s (Agency) Maryland Pension Administration System (MPAS). Retirement payroll data is received from over one hundred and sixty (160) separate employers who participate in the Maryland State Retirement and Pension System (System).

The main function of this position is to reconcile cash received from the participating employers for member contributions to payroll validation reports generated through MPAS. Discrepancies are identified, researched, and resolved. Resolution of discrepancies often requires communication, via telephone and email, with the participating employers to assist the employers with corrective actions. Employer corrective actions include, but are not limited to, the preparation and submission of manual adjustment transactions (714s) and adjustment to future payroll cash remittance amounts. The updating and reconciliation of the payroll data must be 100% accurate and must be accomplished before the weekly deadlines to ensure that the membership data in MPAS is 100% accurate and as up-to-date as possible. The membership data in MPAS is what other Sections and Units of the Agency rely upon when issuing refund payment, creating retirement estimates, retiring members, and communicating with participants about their membership records. Inaccurate or delayed posting of payroll data can result in incorrect information being provided to participants and even incorrect benefits being paid to participants.

Another critical function of this position is initiating, approving, and tracking the financial transactions (e.g. journal vouchers, manual transactions, etc.) which affect the Annuity Savings Fund (ASF) and the Retirement Accumulation Fund (RAF), and for reconciling the ASF to Agency’s General Ledger maintained by the Finance Division. The ASF and the RAF are two of the Agency’s three specialized funds required by law to administer the System. The ASF individually maintains the amounts of member contributions and interest on those contributions for more than 250,000 participants of the System and has a balance of almost six billion dollars ($6,000,000,000). The RAF is the fund used to pay retirement benefits to retirees and beneficiaries (150,000) of the System. Both these Funds are comprised of twelve separate funds for each of the individual retirement systems (Teachers, Employees, State Police, etc.) administered by the Agency, and reconciliations must occur on a system by system basis for each Fund.

Other critical position functions include identifying discrepancies, resolving differences and preparing corrective transactions for other Agency prepared non-payroll transactions processed through SRA validation programs, and researching and correcting un-posted payroll and adjustment transactions. SRA automated processes necessitate a two-step approach whereby data is first processed through a validation program that performs data edits for subsequent continued processing through a separate update process that records (posts) the validation data to the SRA’s active master file used to maintain participant data for over 200,000 active member accounts. Performance of this reconciliation and error resolution process are required for all data validated through Agency programs for the purpose of ensuring the integrity of data updated to the SRA’s active master file.

Performance of these functions requires a thorough knowledge and understanding of the law (Annotated Code of Maryland) and regulations (COMAR) related to the definitions and reporting requirements for payroll data from participating employers of the System. The timely and accurate execution of these responsibilities in accordance with prescribed laws, regulations and procedures is an essential element in the Agency’s efforts to meet the objectives of our Mission Statement as follows: 1) Efficiently collect the required employer and employee contributions necessary to fund the system; 2) Effectively communicate to participants and employers information about benefits provided by the system; and 3) Accurately and timely pay retirement allowances provided by State pension law to the System’s  retirees and their beneficiaries.

Education: A Bachelor's degree in Accounting from an accredited college or university, including or supplemented by three credit hours in auditing.

Experience: Three years of experience examining, analyzing and interpreting accounting systems, records and reports by applying generally accepted accounting principles.

Notes:

1. Candidates may substitute a Bachelor’s degree from an accredited college or university with thirty credit hours in Accounting and related courses, including or supplemented by three credit hours in auditing for the required education.

2. Applicants who have met the requirements for admission to the CPA examination prior to July 1, 1974 will be considered to have met the educational requirement referenced above.

3. Possession of a certificate as a Certified Public Accountant or a master's degree in accounting from an accredited college or university may be substituted for one year of the required experience.

4. Applicants may substitute one year of professional auditing experience for one year of the required experience.

5.  Candidates may substitute U.S. Armed Forces military service experience as a commissioned officer in the Accounting Officer classification or Financial Management specialty codes in the Accounting field of work on a year for year basis for the required experience and education.  

PREFERRED QUALIFICATIONS:

* Two years or more of demonstrated experience performing complex reconciliations.

* One year or more of demonstrated experience preparing, revising  and/or approving complex calculations  related to:  retirement/pension benefits; social security benefits; insurance/death benefits; lending activities; health benefits; or  other social service benefits.  

Due to the confidential nature of the work, selected candidates must undergo and pass a background check.

Please make sure that you provide sufficient information on your application to show that you meet the minimum for this recruitment.  All information concerning your qualifications must be submitted by the closing date.  We will not consider information submitted after this date. 

Successful candidates will be ranked as Best Qualified, Better Qualified, or Qualified and placed on the employment (eligible) list for at least one year.  This list will be used by the hiring agency to select employees.

For education obtained outside the U.S., a copy of the equivalent American education as determined by a foreign credential evaluation service must accompany the application.

The examination will consist of a rating of your education, training, and experience as presented on your application and as they relate to the requirements of the position.  You may be asked to complete a supplemental questionnaire.  The supplemental questionnaire may be used as part of the rating process.  Therefore, it is important that you provide complete and accurate information on your application.  

 STATE OF MARYLAND BENEFITS

The online application process is STRONGLY preferred.  If online access is not available, you may mail a paper application and supplemental questionnaire (if applicable) to: Katarina Byrne, 301 West Preston Street, Room 608, Baltimore, MD 21201.  Documents may also be faxed to (410) 333-7674, Attn: Katarina Byrne. All mailed or faxed documents must include the applicant's name and the job number and must be received by the closing date. 

Resumes will NOT be accepted in lieu of completing the application.

If you have any questions concerning the recruitment process for this position, please call 410-767-4907.

TTY  Users: call via Maryland Relay

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

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

Bilingual applicants are encouraged to apply.