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Community Banks, Lockbox & Collateral Specialist

Recruitment #17-002746-0001


The State Treasurer is the Constitutional Officer responsible for the deposit and disbursement of State funds; her authority can be found under Article VI, Section 3 of the State Constitution and Titles 6 and 7 of the State Finance and Procurement Article of the Annotated Code of Maryland.

Two primary responsibilities of the Banking Services Division in the State Treasurer's Office are the accurate and timely recordation of all State funds, and the reconciliation of all State bank accounts to the State’s R*STARS general ledger accounting system.


Grade 15  (Salary Guidelines apply for State Employees)


Annapolis, MD

Main Purpose of Job

This position is the sole specialist to reconcile and track all activity in the depository bank accounts set up at “Community Banks" in areas where there is no branch of the State's main depository bank.  The incumbent is responsible for the reconciliation of all activity in the seven community bank accounts (activity per month averages over $3.0 Million); the completion of the monthly collateral reconciliation ensuring all State funds on deposit with financial institutions are collateralized as required by statute; and management of the State's lockbox accounts.


  • ensure outstanding transactions are cleared from the reconciliation on a timely basis;
  • complete the deposit match process;
  • prepare monthly reports, process return deposited items (RDI) on a daily basis;
  • order deposit tickets for all agencies using “Community Banks' in order to ensure the correct deposit tickets and numbering sequence are ordered;
  • review bank requests for collateral reductions/substitutions/additions with the applicable custodian as needed (managing an average of $600 Million in collateral per month);
  • with over $2.0 Billion in activity was processed through the lockboxes in 2016 - this position will be the liaison between the lockbox provider and the State agencies, including participating in meetings/conference calls related to lockbox projects (transitions, new implementations, etc.) and issues;
  • review the daily lockbox balances for the State agencies to ensure excess funds have been swept;
  • review the daily lockbox balances to ensure return items are properly covered; 
  • review the daily peg balances for the lockbox accounts and make recommendations as necessary


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 subject.

Experience: Four years of employment in responsible public administration, business administration, office management and/or accounting or auditing, one year of which must have been in work concerning accounting, investment securities, insurance investment, insurance company home office offering property and casualty experience.


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

Experience: Eight years of experience as defined above. At least one year of the experience must have been in work concerning accounting, investment securities, insurance investment, insurance underwriting, or in an insurance company home office offering property and casualty experience.


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 the qualification(s).

  • Two years of the required experience must be in a banking operations and/or corporate accounting environment reconciling complex in-house and client accounts to a general ledger, analyzing reports & financial trends, and using other similar financial management skills.


Strong preference will be given to applicants that possess the following.  Include clear and specific information on your application regarding the qualification(s).

  • Experience in lockbox banking operations (processing lockbox payments and depositing them directly into a company’s bank account using lockbox technology)
  • Experience evaluating collateral for current market value based on set standards and/or regulations
  • Ability to create and manipulate Excel spreadsheets using advanced skills such as complex formulas, linked spreadsheets, V-Lookup, graphs and macros
  • Experience using Interactive Voice Response systems in order to initiate bank transactions


Candidates must be willing to work in the Annapolis area.


Candidates will be subject to a background investigation to include credit and criminal history.


Please make sure that you provide sufficient information on your application (and on separate pages, if necessary) to show that you meet the qualifications 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.


Exempt by Executive Order



Job opportunities within the Maryland State Treasurer’s Office are accessible through JobAps, the Statewide Recruitment, Examination and Applicant tracking system.  By using the Department filter and highlighting “Office of the Treasurer,” you can view all active recruitments within our agency.  First time users can register for an account by selecting a position to apply for, choosing “I am a new user” at the bottom, then keying in the necessary fields. 

Online application is STRONGLY encouraged.  If you do not have access to a computer, however, you may mail your application to MD State Treasurer's Office, Attention Human Resources, 80 Calvert Street, Room 109, Annapolis, MD 21401 or fax to 410-260-4090.  Please include a current copy of your resume with your application.

General questions 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