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Director of Budget and Financial Administration

Recruitment #17-005483-0005


Maryland 529 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 will be taking on the role of administering the State's 529A program through the ABLE Act designed for Americans living with disabilities. The agency is overseen by an eleven member Board of Directors and the Executive Director, to whom the Director of Budget and Financial Administration reports. This position directs and manages all accounting and financial operations for the agency that impact the agency's budget and financial position.

This is a Management Service position which serves at the pleasure of the appointing authority.




217 E. Redwood Street, Suite 1350

Baltimore, MD  21202


Responsibilities include: 

  • Oversees and occasionally performs all general accounting functions of the agency including payroll processing, invoice processing, general ledger reconciliations and employee travel coordination, as well as small procurements for supplies and equipment maintenance contracts, agency corporate purchasing card administration, fixed asset inventory management, and management of the agency’s MBE program.
  • Coordinates development, enhancements, and implementation of new, revises and up-graded specialized automated accounting and budgeting systems.        
  • Formulates, justifies and executes the agency’s $120 Million annual budget which includes funding for agency operations as well as costs associated with tuition benefit distributions.
  • Oversees collections and recordation of $60 Million in revenues related to account holder contributions, enrollment fees, management fees and investment plan fees.
  • Ensures proper reconciliation of all financial activities, including bank reconciliations and daily cash flow activity, reconciliations of approximately $1 Billion in investments held with custodial agent, and reconciliations between account holder activity within the records administration software.
  • Manages agency fiscal year end closing, including preparing necessary year-end accruals; calculating and recording depreciation, investment related entries, and annual pension accruals into State’s financial system.
  • Oversees the procurement process for financial services, including RFPs for banking contracts for custody, depository, disbursement and lockbox services, and record keeping services.
  • Works with Executive Director in preparing written testimony regarding financial matters for Legislative hearings.
  • Coordinates annual audit with external auditors, addresses new accounting or actuarial assumptions affecting financial statements and/or Trust Fund soundness.
  • Oversees execution of actuarial study to ensure overall soundness of fund’s assets.
  • Works with Executive Director to prepare Annual Report and Disclosure Statement, calculating contract pricing and benefit distribution amounts and making recommendations for enhancements to existing  policies and statements included in these documents.
  • Designs and implements accounting and financial operation policies and procedures and system of internal accounting controls to administer the Prepaid Trust Fund program.
  • Works directly with account holders and legislators regarding escalated account holder or overall Plan management issues and/or legislative issues.
  • Represents the agency on State and National levels, in coordination with other state 529 plans and organizations such as CSPN and NAST.

Specific Competencies:

  • Proven experience in financial data analysis with strong financial management background.
  • Proven experience in public speaking and giving presentations to groups such as government or elected officials, corporate boards, community leaders, sponsors and/or other key stakeholder groups.
  • Proven ability to work effectively as a team member who performs the daily tasks and leads.
  • Proven ability to work independently, apply and interpret laws, policies and procedures and use of good judgment in evaluating and making decisions.
  • Proven ability to effectively prioritize tasks, estimate time frames, meet deadlines, plan and use available resources, and coordinate work assignments with others.
  • Proven experience presenting to  a Board and Senior Management.
  • Proven ability to communicate effectively and maintain a courteous attitude toward the public and employees.
  • Knowledge of principles and processes for providing customer and personal services including needs assessment techniques, quality service standards, alternative delivery systems and customer satisfaction evaluation techniques.


Education:    Bachelor's Degree from an accredited college or university in Accounting, Financial Management, or a related field.

Experience:  Five years of management experience with accounting and control systems, maintaining financial records, controlling budgetary expenditures, directing account reconciliations, or cash management.

Note:    A Master's Degree in business or a related field may be substituted for two years of the required experience.                            


Relevant State of Maryland experience in any of the following areas: budget, accounting,  procurement, payroll and/or personnel.

Post Graduate work in a financial or related field.

Certified Public Accountant, Certified Management Accountant, Certified Financial Manager, Master of Business Administration, and/or other industry-related designations.

Understanding of investment banking, commercial banking, etc.


All candidates will be subject to a background investigation including criminal and credit history.


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.

For education obtained outside  the U.S., you will be required to provide proof of the equivalent American education as determined by a foreign credential evaluation service.  This evaluation must be submitted with your application.


The assessment will consist of a rating of your education, training, and experience related to the requirements of the position.  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.



Online application process is STRONGLY preferred.  If the online application process is not available, you may submit a paper application and supplemental questionnaire by the closing date to:

Department of Budget and Management

Recruitment and Examination

301 W. Preston Street, Room 608  

Baltimore, MD  21201

Resume and cover letter are also required and must be uploaded as one document.

For more information regarding this recruitment, please call 410-767-6352.

TTY Users: call via Maryland  Relay.

As an equal opportunity employer, Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State’s diversity. People with disabilities and bilingual candidates are encouraged to apply. We thank our Veterans for their service to our country.