TREASURY SPECIALIST V

This is a skilled service Position Specific Recruitment for the MD State Treasurer’s Office in Annapolis, MD.  The resulting eligible list will be used to fill this position/function only.  Interested persons will need to reapply for any future recruitment for positions within this classification.

 

The Treasurer's authority as the Constitutional Officer responsible for the deposit and disbursement of State funds is 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. 

 

The primary mission of Banking Services is to manage and control banking relationships for all banking needs for the State of Maryland and to anticipate agency needs and respond timely to agency requests. The Banking Services Division (BSD) is directly responsible for procuring and managing the banking needs for all agencies of the State of Maryland. This includes:

• Agency-specific depository accounts - Individual depository accounts are maintained for all State agencies, and balances are consolidated at the end of each day into the State's main depository account. This allows for accurate agency-level transaction reporting with automatic concentration of funds for cash management effectiveness
• Disbursement accounts for vendor payments, payroll, and income tax refunds.
• Lockbox services
• Merchant account services (credit and debit card receipts)
• Agency working fund, trust, and escrow accounts
• All other agency banking needs

Two primary responsibilities of the Banking Services Division of the Maryland State Treasurer's Office are the accurate and timely recordation of State funds, and the reconciliation of the State's bank accounts to the State's R*STARS accounting system. The Division must account for the receipt of all warranted deposits and the disbursement of all warranted payments. The Division's comprehensive daily cash reconciliation allows the Treasurer's Office to be proactive in identifying and solving agency banking issues. As volume and transaction numbers increase, the processes and controls developed by the Banking Division continue to result in a timely, accurate, and completely documented reconciliation of the State's cash accounts. Maintaining pace with changes in the banking environment also necessitates continual refinement of the reconciliation processes and ensures maximum efficiency in the balancing of bank information and the R*STARS accounting system.

 

On behalf of State agencies, the Banking Services Division performs daily operations functions that are critical to the movement of funds into and out of the State's bank accounts. These include:

• Processing the drawdown of funds from federal programs and grants Initiating FedWire payments Initiating and managing foreign currency transactions
• Processing check stop payments, cancellations, and reissues as well as requests for photocopies of paid checks
• Providing transaction research assistance to State agencies
• Managing the Unpresented Check Fund and the Undeliverable Check Fund
• Processing of all bank adjustments

16  (Salary Guidelines apply for State employees)

Annapolis, MD

The primary mission of the State Treasurer’s Office Banking Services department is to manage and control banking relationships for all banking needs for the entire State of Maryland, and to anticipate State agency needs and respond timely to State agency requests.  Its primary function is the accurate and timely recordation of State funds, and the reconciliation of the State’s bank accounts to the State’s internal accounting system.

This position is responsible for the overall monitoring of all electronic funds transfers into and out of the State of Maryland's main disbursement and depository accounts. Additionally, this position is the Treasurer's office sole liaison for managing and processing the drawdown of Federal Grant money for numerous assigned State agencies. In FY2017, this position managed over $43.7 Billion in total incoming electronic funds transfers on behalf of the State -an average of over $3.6 Billion a month or $150 Million a day. Outgoing wire transfers were over $2.9 Billion. In addition, this position was solely responsible for the timely and accurate processing of over $10.3 Billion in drawdown of federal funds to be applied to various agency programs across the State.

Essential Functions include:

 

• Review and process on a daily basis all agency requests for foreign and domestic wire transfers which have been approved and warranted by the Comptroller's General Accounting Division. Coordinate purchase of foreign currencies with the State's disbursement bank for wire transfers that require payment in a foreign currency.
• Respond to inquiries concerning ACH payments to agencies and vendors.
• Process draw down of funds from the Federal Government on behalf of State agencies receiving grants and program payments through various on-line systems to include ASAP, Payment Management System, eDelphi and LOCCS (Line of Credit Control System).
• Receive and review daily notifications of ACH returns received from the State's disbursement bank.
• Process all incoming Fedwire and ACH transactions
• Complete and accurate resolution of State agency monetary transaction research requests. This involves working closely with the financial staff at all levels within agencies. Requests are received via email, fax, and phone. General ledger adiustments necessary for resolution directly impact state agency operations as well as the State's main cash reconciliation. Research requires extensive use of Excel. Access, and Word. Excellent communication and organizational skills are vital to this role.
• Document research in accordance with established research policies and procedures. Communicate resolution to other STO Banking coworkers that arc affected by the transactions in question.

This position is the primary backup for the following:

 

• Completing the monthly collateral reconciliation ensuring all State funds on deposit with financial institutions are collateralized as required by statute (managing an average of $600 Million in collateral per month); reviewing bank requests for collateral reductions/substitutions/additions with the applicable custodian as needed.
• Administering collateral (totaling in excess of $100 million) posted by insurance companies conducting business in the State.  Functions include the monitoring, approving, replacing, and releasing of collateral securities that the State Treasurer’s Office holds for 118 insurance, fidelity, bonding and guaranty companies.  Maintains an excel spreadsheet of all the activity for the insurance collateral.

Education: Possession of a bachelor’s degree from an accredited four year college or university in the field of accounting, finance, or business administration, including or supplemented by at least 12 hours in accounting.

Experience: Five years of professional experience in accounting, finance, cash management analysis, or investments.

Notes:

1. Possession of a certificate as a Certified Public Accountant may be substituted for two years of the required experience.

2. Applicants may substitute graduate education in an academic field related to the required experience from an accredited college or university at the rate of one year of education for one year of the required experience.

3. 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 back office processing of electronic funds transfers (e.g. ACH transactions including vendor payments, direct deposit, etc. and outgoing/incoming wire transfers including Fedwire and CHIPS).  

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

• Experience initiating wires to foreign countries. 
• Experience in back office commercial banking is strongly preferred 
• Experience in work involving accounting, investment securities, and/or insurance investments 
• Ability to create and manipulate Excel spreadsheets using advanced skills (i.e., complex formulas, linked spreadsheets, V-Lookup, and macros).

Candidates must be willing to work in the Annapolis area.

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

Applicants who meet the minimum and selective qualifications will be admitted to examination for this classification.  Successful candidates 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.  

Exempt by Executive Order.

STATE OF MARYLAND BENEFITS

 

General questions may be directed to the STO Personnel Office at 410-260-7078 or 410-260-6382. 

The online application process is STRONGLY preferred. If you are unable to apply online, you may mail a paper application to:         

Maryland State Treasurer's Office

ATTN:  Human Resources / Recruitment # 18-002747-0001

80 Calvert Street, Room 109

Annapolis, MD 21401

 

As an equal opportunity employer, Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State’s diversity. People with disabilities and bilingual candidates are encouraged to apply. We thank our Veterans for their service to our country.

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