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||Maryland State Treasurer
||Annapolis, MD United States
Investment Associate (Treasury Specialist V)|
State Finance and Procurement Article §6-222 governs the investment of the State’s unexpended or surplus money, and assigns this responsibility to the State Treasurer’s Office. It is the policy of the Maryland State Treasurer’s Office to invest public funds using a passive investment strategy, in a manner which will provide the highest investment return with the maximum security, while meeting the anticipated daily cash flow requirements of the State. The Investment Division also manages the investment of General Obligation bond proceeds, and directs the short-term and long-term investments of a number of trustee accounts under State agency revenue bond indentures.
The State Treasurer’s Office Investment Division is a three-person unit responsible for carrying out this policy by 1) validating and monitoring the State’s daily cash position, 2) prudently and effectively investing the cash balances that are temporarily idle between the time State revenue is collected and the time State budgeted amounts are disbursed, and 3) documenting and reporting on all investment activity in compliance with policy and law.
This position assists the Deputy Director of Investments by carrying out daily operations in order to execute short-term and long-term investment strategies developed by the Deputy. Tasks include, but are not limited to:
• verifying, in conjunction with bank, the State’s daily cash balance
• investing non-committed cash, under the direction of the Deputy Director
• soliciting rate quotes from authorized brokers for repurchase agreements (REPOs)
• 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 Deputy Director with cash projections
• confirming REPO trades are collateralized by the Safekeeping Agent at 102% of invested dollars
• calculating monthly interest allocation for authorized State agencies
• reconciling and reporting
• verifying/auditing confirmation tickets sent by brokers
Qualifications & Requirements
MINIMUM QUALIFICATIONS (Required):
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.
SELECTIVE QUALIFICATION (Required):
Two of the five years of experience stated above must be specifically in an investment environment involving fixed income investment trades.
1. Knowledge of government securities investing
2. Knowledge of cash management principles and practices
3. Ability to analyze basic economic and financial market trends and make rudimentary investment recommendations in relation to financial goals
4. Experience working in SunGard, Bloomberg, or other relatable investment software
5. Advanced skill in MS Excel, including formulas, reconciling tools, tables & graphs, etc.
6. Skill in attention to detail
LIMITATIONS ON SELECTION: Candidates must be willing to work in the Annapolis area.
SPECIAL REQUIREMENTS: All candidates will be subject to a background investigation including criminal and credit history.
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 at least one year.
EXAMINATION: The examination consists 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 the information contained in your application. Therefore, it is important that you provide complete and accurate information to describe your training and experience, on your application. You may be asked to supply transcripts upon interview.
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. Please upload a current copy of your resume with your application.
Go to www.JobAps.com/MD to apply, or FAX a copy of your resume to 410-260-4090. Electronic application is strongly encouraged.
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
|Contact Name:||Michele Reid|
Maryland State Treasurer|
Constitutional and statutory provisions relating to the Office of the
State Treasurer may 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 through 9 of
the State Finance and Procurement Article. The Treasurer, in general, is responsible for
receiving, depositing, investing, and distributing State money.