Do these words make you nod your head and smile? If they do, come work for us!
> CASH MANAGEMENT > CASH POSITION > REPO > LIQUIDITY
> COLLATERAL > TRADES > BLOOMBERG > SINKING FUND
Working for the State of Maryland, Office of the State Treasurer, can provide a professional environment and stable career with unique insight into the State’s investment policies and practices – not to mention a wealth of benefits exclusive to State employees!
The State Treasurer is a Constitutional Officer in the Executive Branch of Maryland state government who is elected by the General Assembly of Maryland. The constitutional and statutory provisions relating to the duties of 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. The Treasurer’s responsibilities are core to the financial operations of the State – we are the State’s money-keepers, money-makers, and money-movers.
This position assists the Chief Investment Officer (CIO) by carrying out daily operations in order to derive the State’s daily cash position and execute short-term and long-term investment strategies. Tasks include:
- verifying, in conjunction with the State’s Contracted disbursement bank, the State’s daily cash balance
- investing non-committed cash, under the direction of the CIO
- soliciting rate quotes from authorized brokers for daily trades
- ensuring documentation of all investment transaction activity is complete and accurate
- posting portfolio transactions to the investment software daily
- monitoring daily cash flows through wires, reconciliations, etc. in order to support the CIO with cash projections
- confirming trades are collateralized by the Safekeeping Agent at 102% of invested dollars
- calculating monthly interest allocation for authorized State agencies
- monitoring collateral securities held by the Treasurer’s Office for over 100 insurance, fidelity, bonding and guaranty companies
- reconciling and reporting
- verifying/auditing confirmation tickets sent by brokers
MINIMUM QUALIFICATIONS (required):
Education: Graduation from an accredited high school or possession of a high school equivalency certificate.
Experience: Five years of experience in business administration, office management, finance, accounting, economics, or related field.
Notes: 1. Candidates may substitute education from an accredited college or university or nationally recognized industry certification program, at a rate of thirty credit hours for each year of experience, for up to two years of the required experience. 2. 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.
SELECTIVE QUALIFICATION (required):
Two of the required years of experience must be hands-on responsibility for cash management.
PREFERRED QUALIFICATIONS: (additional consideration will be given to candidates possessing the following:
- Knowledge of government securities investing
- Experience analyzing basic economic and financial market trends and making rudimentary investment recommendations in relation to financial goals
- Experience using Bloomberg or other relatable investment software
- Experience working with collateral
- Advanced skills in Excel, including formulas, reconciling tools, tables & graphs, etc.
- Demonstrated skill in attention to detail
SELECTION PROCESS: 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.
EXAMINATION: 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.
LIMITATIONS ON SELECTION: Applicants must be willing to work onsite in the Annapolis area.
WHY WORK FOR THE STATE OF MARYLAND?
- Job stability and pinnacle experience (we are a Constitutional Office)
- Work-life balance
- Ability to make your mark through public service
- Predictable hours and hybrid teleworking schedules
- 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
- Comprehensive, subsidized health, dental and prescription plans with little to no deductibles, free generic prescriptions, and free preventative health services
- Flexible Spending Account plans for Health Care and Daycare
- State Employees Credit Union
- Direct Deposit
As an equal opportunity employer, Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State’s diversity.