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Treasury Specialist VII

Investment Manager

Recruitment #21-005036-0003

Introduction

The constitutional and statutory provisions relating to 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. 

This is a Management Service, at-will position, and serves at the pleasure of the Appointing Authority.

GRADE

22  (Salary Guidelines Apply for State Employees)

LOCATION OF POSITION

Annapolis, MD

Main Purpose of Job

Section 6-222 through 6-225 of the State Finance and Procurement Article governs the investment of the State’s unexpended or surplus money. The Investment Department in the State Treasurer’s Office is charged with the responsibility of investing these monies in accordance with established laws, policies and procedures, as well as establishing an Investment Policy which provides additional guidance and protocols for investment of state monies.

The Department primarily invests the cash balances that are temporarily idle between the time State revenue is collected and the time budgeted amounts are disbursed. The Department is also responsible for a number of longer-term investment activities associated with the purchase of 20-year development easements on agricultural land and the payment of lottery prizes. The Department manages the investment of General Obligation bond proceeds and also directs the short-term and long-term investments of a number of trustee accounts under State agency revenue bond indentures. Interest earnings on investments under the stewardship of the State Treasurer accrue to the General Fund unless State law or regulation directs that the interest should accrue to a specific fund. Under State law, investments by the State Treasurer’s Office are limited to secured bank accounts, full faith and credit obligations of the federal government, obligations of certain federal agencies or instrumentalities, repurchase agreements collateralized by those securities, certain money market mutual funds and limited amounts of highest rated commercial paper. 

The highest priority of the Investment Department, above all else, is the safe and prudent keeping of public funds. The investment portfolio is designed to meet the cash flow needs of the State so that funds are available to cover disbursements and fund State programs for its citizens while also making proceeds from its investmentsSubsequent priorities encompass liquidity of the portfolio to meet all operating requirements of the State, and return of investment with due regard for minimizing risk while maximizing return in consideration of the cash flow characteristics of the portfolio. The Deputy Director of Investment Services is responsible for all operations of this two-person department, ensuring adherence to all statutes, regulations and policies. The Deputy assists with and is accountable for the accurate and timely processing of all cash management and investment activities with regard to the States $12.8 Billion investment portfolio. The incumbent should be able to draw on public finance experience, knowledge and resources to strategize, develop, and implement policies and procedures which will promote automation in all areas of cash management. 

This position is also responsible for full supervision of one other position in the Investments Department. The position is Management Service and serves at the pleasure of the Maryland State Treasurer and her designated appointees.

POSITION DUTIES

Position duties include but are not limited to
  • oversees all activities of investments on behalf of the State Treasurer's Office
  • responsible for adherence to investment policies, performance standards and procedures
  • ensures accurate and timely processing of all cash management and investments
  • in absence of the Director, assumes all investment related duties of the Director and functions with the authorities of the Director, including signatory, in accordance with state laws and guidelines
  • strategizes, develops and implements procedures to promote automation in all areas of cash management
  • directs the activity of state and local financial professionals in drafting legislation relative to investments affecting public entities throughout the state
  • reviews and approves daily REPO trades and redemption forms in order to forward to the state's General Accounting Division
  • audits investment risk monitoring reports
  • oversees the MD Local Government Investment Pool (MLGIP)
  • ensures accurate and timely completion of all interest allocations to authorized state agencies
  • reviews and approves all monthly adjustments to the state's financial accounting system including money market interest, restricted funds interest, and corrective entries
  • oversees activities to the Linked Deposit Program to ensure same day completion
  • recommends the daily composition of the state's investment portfolio and executes investments
  • supervises subordinate investment staff

MINIMUM QUALIFICATIONS

Bachelor's or Master's degree in Business Administration or Finance, or related subject area.

DESIRED OR PREFERRED QUALIFICATIONS

The ideal Candidate will have:  
  • Comprehensive, hands-on experience with fixed income investments
  • Demonstrable knowledge and/or experience with public finance (i.e., public revenue, public expenditure, and public debt)
  • Experience in public and/or non-profit investing and cash management
  • Experience supervising subordinate staff including assignment and review of work, performance evaluation, time and leave approval, training, and involvement with Human Resources
  • Additional treasury or financial certifications or post-graduate education in related fields

LIMITATIONS ON SELECTION

Applicants must be willing to work in the Annapolis area.  Candidates will be subject to a background investigation to include credit and criminal history.

SELECTION PROCESS

Please make sure that you provide sufficient information on your application to show that you meet the qualifications for this recruitment.

EXAMINATION PROCESS

The assessment may consist of a rating of your education, training, and experience related to the requirements of the position. It is important that you provide complete and accurate information on your application. Please report all experience and education that is related to this position.

BARGAINING UNIT STATUS

Exempt

BENEFITS

This is a full-time position with State employment benefits including paid holidays, vacation/sick/personal days, subsidized medical and dental plans, defined-benefit pension plan, 401(k)/457 plans, employee credit union, direct deposit, and free parking. 


STATE OF MARYLAND BENEFITS

 

FURTHER INSTRUCTIONS

Job opportunities within the Maryland State Treasurer’s Office are accessible through JobAps, the Statewide Recruitment, Examination and Applicant tracking system.  Please upload a current copy of your resume with your application.

Electronic application is strongly preferred; however, if you do not have access to a computer, you may send a copy of your resume to the State Treasurer's Office, Human Resources, 80 Calvert Street, Room 109, Annapolis MD 21401, or fax to 410-260-4090. 

Any questions regarding this recruitment or the recruitment process 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. 

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