State of Maryland


- Hourly / - BiWeekly /
- Monthly / $41,464.00-$65,790.00 Yearly






An Asset Management Officer I is the intermediate level of work managing multi-family housing project assets which secure State and federal loans in Maryland.  Employees in this classification do not supervise other positions.

Employees in this classification receive moderate supervision from a designated administrator.  The work requires traveling to project sites that are located throughout the State. 

Positions in this classification are evaluated using the classification job evaluation methodology.  The use of this method involves comparing the assigned duties and responsibilities of a position to the job criteria found in the Nature of Work and Examples of Work sections of the class specification.

The Asset Management Officer Trainee, Asset Management Officer I and Asset Management Officer II are differentiated on the basis of the degree of supervisory control exercised by the supervisor over the employees.  The Asset Management Officer Trainee performs duties under close supervision. The Asset Management Officer I performs duties under close supervision at times and under general supervision at other times depending on the complexity of the specific duty being performed.  The Asset Management Officer II performs the full range of duties and responsibilities under general supervision.


Manages multi-family housing project assets which secure State and federal loans in Maryland;

Monitors property income and expenses of multi-family housing projects;

Conducts financial analysis and escrow analysis, reviews independent audits and cyclical financial reports of multi-family housing projects;

Reviews occupancy documentation and on-site occupancy files of multi-family housing projects to ensure that rent-up period target dates are met and that occupancy rates indicate viability of a project;

Conducts periodic on-site inspections of multi-family housing projects to evaluate office records, marketing efforts, physical conditions of assets and ensure compliance with applicable State and federal policies and regulations;

Recommends corrective measures involving marketing efforts, rents, and physical asset conditions to property owners when analysis, inspections and monitoring results indicate that a project is experiencing management difficulties;

Negotiates conflict resolutions with property owners, creditors, local government officials and public and private organizations;

Performs other related duties.


Knowledge of the policies, procedures, laws and regulations applicable to multi-family housing project asset management;

Knowledge of federal and State housing programs;

Knowledge of real estate law;

Knowledge of financial and accounting practices;

Skill in interpreting and analyzing financial data;

Skill in using automated data processing equipment and software;

Ability to evaluate multi-family housing project problems and develop various resolution recommendations;

Ability to negotiate conflict resolutions with property owners, creditors, local government officials and public and private organizations;

Ability to communicate effectively;

Ability to perform arithmetic calculations;

Ability to develop and present reports, analyses and recommendations;

Ability to establish and maintain effective working relationships with property owners, creditors, local government officials, representatives from public and private organizations and the general public.


Education:   A Bachelor's degree in Business Administration, Management, Finance or related field.

Experience: One year of experience managing multi-family housing project assets which secure State and federal loans.


1. Additional experience as described above may be substituted on a year-for-year basis for the required education.

2. Candidates may substitute U.S. Armed Forces military service experience as a commissioned officer in the Financial Analysis classification series or Financial Analysis specialty codes on a year-for-year basis for the required education. 


Employees in this classification may be assigned duties which require the operation of a motor vehicle. Employees assigned such duties will be required to possess a motor vehicle operator's license valid in the State of Maryland.


Class specifications are broad descriptions covering groups of positions used by various State departments and agencies. Position descriptions maintained by the using agency specifically address the essential job functions of each position.

This is a Skilled Service classification in the State Personnel Management System.  All positions in this classification are Skilled Service positions.  Some positions in Skilled Service classifications may be designated Special Appointment in accordance with the State Personnel and Pensions Article, Section 6-405, Annotated Code of Maryland.

This classification is assigned to Bargaining Unit G, Engineering, Scientific and Administrative Professionals classes.  As provided by the State Personnel and Pensions Article, Section 3-102, special appointment, temporary, contractual, supervisory, managerial and confidential employees are excluded from collective bargaining.  Additionally, certain executive branch agencies are exempt from collective bargaining and all positions in those agencies are excluded from collective bargaining.

Employees in this classification are eligible to receive overtime compensation.  An employee who works more than the normal workweek is entitled to be compensated for that overtime as provided by State Personnel and Pensions Article, Section 8-305.

This classification is one level in a Non-Competitive Promotion (NCP) series.  NCP promotions are promotions by which employees may advance in grade and class level from trainee to full performance levels in a classification series.  In order to be non-competitively promoted to the next level in a NCP series an employee must: 1) perform the main purpose of the class as defined in the Nature of Work section of the class specification; 2) receive the type of supervision defined in the class specification and 3) meet the minimum qualifications of the classification.

Date Established

Oct 1 1996 12:00AM

Date Revised

March 2, 2018

Approved By

Director, Division of Classification and Salary

CLASS: 000362; EST: 10/1/1996; REV: 3/2/2018;

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