The primary mission of the State Treasurer’s Office (STO) Banking Services department is to manage and control banking relationships for all banking needs for the entire State of Maryland. As the liaison between the State and participating bank vendors, the department’s goal is to promote State agency banking needs, and respond timely to State agency requests for banking services. Its principal 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.
The Banking Services department is housed within the Treasury Management division of the agency, along with Investments. The department consists of 11 specialists and a Deputy Director, all under the leadership of the Director of Treasury Management. While each State agency performs its own agency reconciliation and accounting work, the STO Banking Services department, in contrast, is responsible for pulling all state banking activity together and reconciling the Statewide master depository and disbursement bank accounts against the State’s main general ledger. Each position in the STO Banking Services department plays a specific and unique role that, when combined, determines the State’s daily cash balance. In addition, Banking Services assists with agency-specific depository and disbursement bank account issues regarding opening accounts, vendor payment issues, payroll and income tax refunds processing errors; lockbox services; merchant account services (credit and debit card receipts); agency working fund, trust and escrow accounts; stop payments, cancellations and check re-issuance; processing drawdown of funds from federal programs and grants; initiating FedWire payments; processing all State bank adjustments; managing the State’s “unpresented and undeliverable” check funds; collateralization compliance; research; and other agency banking needs.
The Banking Services department currently has three vacancies to fill: Bank Adjustments Reconciliation Specialist, Deposit Match Reconciliation Specialist, and Bank Processing & Controls Specialist.
The Bank Adjustments Reconciliation Specialist reconciles and tracks all daily bank adjustment transaction activity in the State’s master depository bank account. Bank adjustments are identified through a multitude of BAI codes on the daily bank file. These transactions, often upwards of 100 or more, require segregation, research, and resolution in order to maintain the integrity of the State’s daily cash reconciliation.
The Deposit Match Reconciliation Specialist reconciles approximately 1000 cash deposits recorded daily in the State’s general ledger with the cash deposits made to the State’s main depository bank per the daily bank deposit transaction activity report. Transactions unmatched from the automated deposit match program require manual research and resolution and notification to the corresponding agency.
The Bank Processing & Controls Specialist reconciles the daily cash activity processed through the STO mainframe system with the transactions that are final and posted to the State’s general ledger system. This position also controls reissuance of unpresented and undeliverable checks, chargeback adjustments, and maintains the control log for agency research requests. In addition, this position oversees critical Positive Pay and fraud control functions.
Ideal candidates should be strong in customer service etiquette, research and analysis, and attention to detail. This recruitment is for full-time, permanent positions with State benefits including a generous paid leave package, comprehensive and subsidized health benefits, and a defined-benefit pension plan in addition to supplemental retirement plans. Moreover, the Banking Services division is a cohesive, dedicated group of professionals who enjoy the behind-the-scenes environment of back-office banking operations.
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 or investment securities experience.
Education: Graduation from a standard high school, including or supplemented by 18 credit 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 or investment securities experience.
Note: 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.
SELECTIVE QUALIFICATIONS (Applicants must meet the selective qualifications to be considered):
Two years of the required experience must be in a banking operations and/or corporate accounting environment reconciling various in-house and client accounts to a general ledger, analyzing reports & financial trends, or similar banking financial management experience.
Preferred Qualifications (Strong Preference will be given to applicants that possess the following):
Experience in back office commercial banking operations
Experience with Positive Pay
Experience with complex bank account reconciliations involving multiple deposit locations, or experience managing processing of deposits or general ledger transactions in a banking operation or corporate finance office
Experience researching and reconciling bank adjustments / knowledge of BAI codes
Experience in delivering high level customer service to internal and external customers
Special Requirements: All candidates will be subject to a background investigation including criminal and credit history.
Limitations on Selection: Candidates must be willing to work in the Annapolis area.
SELECTION & EMAXINATION PROCESS: 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. 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.
General questions may be directed to the STO Personnel Office at 410-260-7078.
Job opportunities within the Maryland State Treasurer’s Office are now accessible through JobAps, the new 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 and/or FAX a copy of your resume to 410-260-4090.
As an equal opportunity employer, Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State’s diversity.
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.