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Compliance/Audit Manager

Recruitment #19-005472-0013


Maryland 529 (formerly College Savings Plans of Maryland) is an independent State Agency responsible for administering two IRC Section 529 College Savings Plans - the Maryland Prepaid College Trust and the Maryland College Investment Plan.  The Maryland Prepaid College Trust (MPCT) is a "defined benefit" type plan and the Maryland College Investment Plan (MCIP) is a "defined contribution" type plan.   Both of which are designed to provide ways for families to save for future college expenses and reduce reliance on future student loan debt.  In addition, the agency administers the State's 529A program for achieving a Better Life Experience (ABLE) designed for Americans living with disabilities.

This position serves as the agency’s Audit and Compliance Manager.

The agency is overseen by an eleven member Board of Directors and the Executive Director.

This is a Management Service classification and serves at the pleasure of the Appointing Authority.




Maryland 529

217 E. Redwood Street

Suite 1350

Baltimore, MD 21202  

Main Purpose of Job

This position serves as the agency’s compliance and audit manager. This position ensures overall compliance within the agency. The Compliance/Audit Manager will be responsible for maintaining a thorough understanding of the most recent agency standards and State regulations. Under supervision of the Executive Director, incumbent will provide leadership and guidance to all Maryland 529 agency staff for compliance on policies and procedures as well as assist in compliance program implementation, development, and execution. The Compliance/Audit Manager will also perform periodic internal quality assurance reviews within all functioning areas to ensure compliance with procedures and internal controls. If issues arise, the Compliance/Audit Manager will be responsible for working with the appropriate functioning area to resolve the issue as well as communicating resolution to the Maryland 529 leadership team.


As a key member of the Maryland 529 team, the Compliance/Audit Manager will provide meaningful contributions to the following primary areas of focus:

Assist with development of Standard Operating Procedures (SOPs) consistent with policies and applicable laws.

Develop effective compliance controls and tests for adherence of policies and SOPs.

Perform assessments of internal control processes and operational performance in accordance with Maryland 529 policies, SOPs, and practices that are compliant with applicable state and federal laws, and internal controls.

Ensure compliance program is developed, implemented, and executed.

Continuously analyzes complex business processes and align all functional area policies, SOPs, workflows, and systems to ensure compliance.

Assist with ensuring all laws, rules, regulations and Board policies are implemented.

Assist leadership team, the Assistant Attorney General, and audit partners to ensure implementation and monitoring of internal controls for the agency.

Communicate effective compliance policies and SOPs to identify and prevent illegal, unethical, or improper business practices to safeguard against fraud, waste and abuse.

Assist leadership in identifying and mitigating risks, safeguarding assets, identifying fraudulent activities, complying with laws and regulations directly tied to operational efficiency.

Monitor, assess, and report significant compliance issues to Executive Director.

Create and conduct quality assurance reviews for all policies and SOPs to ensure compliance and operational effectiveness.

Lead the compliance monitoring program and review activity to ensure program falls within established risk control limits and operational efficiency.

Assist in identifying and defining the compliance program objectives for assigned functional area, products/services, and applicable laws.

Assist Director of Operations and Executive Director liaise with Office of Legislative Audit and external audit team requests.

Review business processes and internal controls, both manual and automated, and/or management controls in each functional area for strengths and weaknesses and ensures compliance with appropriate policies and SOPs to remove risk exposure.

Assist in managing the activities related to reviewing and responding to audit findings with stakeholders. 

Review internal and external audit service provider audit reports for leadership reporting.

Prepare quality assurance work papers and reports documenting the results of quality assurance reviews.

Generate complex reports utilizing data management system to review, report issues and common themes, and escalate issues to Executive Director and/or Chair of the Audit and Governance Committee as needed, including recommending corrective action plans.  


Education:   A Bachelor’s degree from an accredited college or university in business, accounting, finance, management, or a related field. 

Experience:  Five years of experience in a financial, quality assurance, or auditing position.

Notes: ·       

1.   A Master’s Degree in Business Administration or Finance may be substituted for two years of the required financial, quality assurance or auditing experience.             

2.  Candidates may substitute U.S. Armed Forces military service experience as a commissioned officer in Internal Review classifications or Auditing specialty codes in the Financial or Auditing fields of work on a year-for-year basis for the required experience.  


Strong preference will be given to applicants that possess the following preferred qualifications.  Please include clear and specific information on your application regarding the qualifications.   

Experience with 529 Plans and/or 401k or other retirement plans.  

Experience conducting audits and quality assurance reviews.  

Understanding and experience in oversight of outsourced services and programs.  

Proficient use of Microsoft Office Suite including Word, Excel, Access, PowerPoint and/or other relevant software.

Experience with Banner database application.

Two years of experience developing Standard Operating Procedures (SOP).

Two years training others and/or assistance in measuring outcomes.

Two years of experience in conducting/monitoring and assessing internal employee work or partners to ensure requirements/obligations are being met.

Two years of experience examining, analyzing and interpreting application systems.         


Please make sure that you provide sufficient information on your application to show that you meet the qualifications for this recruitment. All information concerning your qualifications must be submitted by the closing date. We will not consider information submitted after this date. 

Also, please submit, along with your application, a resume and cover letter.

For education obtained outside of the United States (U.S.), you will be required to provide proof of the equivalent American education as determined by a foreign credential evaluation service. If you possess a degree obtained outside of the U.S., please submit a detailed, course-by-course evaluation report from one of the U.S. equivalency evaluating members identified at prior to hire.

Successful candidates may be placed on the employment (eligible) list for at least one year.


The evaluation will consist of a rating of your education, training, and experience related to the requirements of this position. The evaluation will be based on the information provided on your application. Therefore, it is important you provide all the experience and education that is related to this position completely and accurately. Verifiable volunteer experience will be considered; please include it on your application, if applicable.  You will be required to complete a supplemental questionnaire.



The online application is STRONGLY preferred. If you are unable to apply online, you may submit a paper application and supplemental questionnaire to:

Maryland Department of Budget and Management

Recruitment and Examination Division

301 W. Preston St.

Suite 608

Baltimore, MD 21201

The Human Resource Department is not responsible for applications sent to any other address. Faxed or e-mailed applications will not be accepted.

Specific inquiries regarding this recruitment can be directed to Shirley Williams at

TTY Users: call via Maryland Relay.

We thank our Veterans for their service to our country, and encourage them to apply. Bilingual applicants are encouraged to apply. As an equal opportunity employer, Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State’s diversity.