State of Maryland

HCD Financial Associate III (#003722)

- Hourly / - BiWeekly /
- Monthly / $57,095.00-$95,449.00 Yearly






A HCD Financial Associate III is the full performance level of work examining, analyzing, and interpreting financial data for the Maryland Department of Housing and Community Development (HCD). Employees in this classification perform and apply general accounting and analysis principles and practices to various program requirements, time management in working on Auditor, Senior or Management support schedules, time allocation, restating GAAP accounting into governmental accounting for inclusion into the CAFR (State’s Annual Comprehensive Financial Review), payment processing or subsidized housing payments.  Employees in this classification may perform financial analysis of one or several HCD programs including but not limited to State-funded loan portfolio, multi-billion Community Development Administration (CDA) mortgage loan portfolio (financed with revenue bond proceeds), bond and loan accounting, cost accounting, federal fund accounting, grant accounting, systems accounting, State budget process, or general accounting. Employees in this classification do not supervise other positions.

Employees in this classification receive general supervision from an HCD Financial Analyst Supervisor, an HCD Financial Analyst Manager, or designated administrator.

Positions in this classification are evaluated by using the classification job evaluation methodology. The use of this method involves comparing 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 HCD Financial Associate I, HCD Financial Associate II, and HCD Financial Associate III are differentiated on the basis of degree of supervisory control exercised by the supervisor over these employees. The HCD Financial Associate I learns to perform duties under close supervision.  The HCD Financial Associate II 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 HCD Financial Associate III performs the full range of duties and responsibilities under general supervision.


Meets with professional HCD Financial Analysts and supervisors to discuss and resolve accounting and budgetary issues;

Assists in performing general accounting functions to analyze transactions to properly account for and maintain fiscal integrity of sources of revenues that have different terms, conditions and specifications of use;

Automates payment processing of monthly mortgages via several different programs each with unique requirements;

Monitors the disbursement and receipt of funds to ensure compliance with the State and federal legislation, rules, regulations and policies;

Performs financial calculations to ensure compliance with the U.S. Securities Exchange Commission (SEC), the State of Maryland Comptroller and the Internal Revenue Service (IRS) Regulations;

Performs financial analysis of one or several HCD programs including, but not limited to cost accounting, federal fund accounting, grant accounting, systems accounting, State budget processes and/or general accounting;

May provide guidance and direction concerning financial policies and procedures to HCD program staff in various units for the Department;

May reconcile agency accounting systems to financial control systems on a periodic basis by comparing the reports of the two accounting systems, locating and researching differences, tracing discrepancies to source documents, making necessary adjustments and maintaining an audit trail;

May assist in budget preparation by compiling prior necessary data and calculating current funding requests based on agency needs and adjustments for inflation and other variables;

Performs other related duties.


Knowledge of the principles and practices of reviewing, verifying, adjusting and balancing financial banking transactions;

Ability to use computerized financial analysis and modeling applications and software including but not limited to spreadsheet software and database applications;

Ability to effectively organize and manage work assignments and meet deadlines efficiently;

Ability to use a computer to access, input and extract data;

Ability to understand complex computations and conduct presentations;

Ability to post and balance accounts and calculate percentages;

Ability to examine financial data and identify interrelationship and trends and devises procedures to increase the reliability and usefulness of the data;

Ability to interpret and apply State and federal laws, policies, rules, and regulations pertaining to HCD financial and budgeting operations;

Ability to communicate effectively;

Ability to establish and maintain effective working relationships with agency HCD Financial Analysts, Supervisors, Managers, Payroll personnel, vendors and representatives from fiscal control agencies and the general public.


Education:   Graduation from an accredited high school or possession of a high school equivalency certificate.

Experience: Two years of experience reviewing, verifying, recording, adjusting and balancing financial transactions.


1. Candidates may substitute experience calculating and recording financial, statistical or other numerical data on a year-for-year basis for the required education.

2. Candidates may substitute six credit hours in accounting from an accredited college or university for one year of the required experience.

3. Candidates may substitute U.S. Armed Forces military service experience in Financial Clerical/Finance Technicians classifications or specialty codes in the financial field of work at a rate of one year of military experience for the required experience.




Class specifications are broad descriptions covering groups of positions used by various State departments and agencies.  Position descriptions maintained by the using department or 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 B, Administrative, Technical and Clerical classes.  As provided by State Personnel and Pensions Article 3-102, special appointment, temporary, contractual, supervisory, managerial and confidential employees are exempt 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 the 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 level 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 by 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

July 1, 2019

Approved By

Director, Division of Classification and Salary

CLASS: 003722; EST: 7/1/2019; REV: 9/24/2021;

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