TREASURY SPECIALIST IV

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.

Specifically, 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.

Annapolis, Maryland

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.

Bank Adjustments Specialist

1. Reconcile and post all daily bank adjustment activity from the State's master depository bank account

2. Research and resolve deposit-related adjustment discrepancies

3. Maintain detail research log documenting resolution and status of all deposit-related adjustments; maintain control totals to ensure accuracy of log

4. Post unmatched deposit chargebacks created as a result of the deposit match process

5. Administer collateral securities posted by insurance, fidelity, bonding and guaranty companies conducting business with the State

6. Act as liaison between depository bank and State agencies to resolve any disputed bank adjustments

7. Utilize depository bank image system to retrieve images of supporting bank adjustment backup

8. Oversee aging schedule of State bank adjustments

Deposit Match Specialist

1. Reconcile cash deposits recorded on the State's general ledger system (R*STARS) with the cash deposits posted to the State's depository bank.

2. Work with State agencies to resolve remaining deposit differences, prepare all necessary general ledger entries to clear items

3. Monitor Provide training and guidance to State agencies regarding proper procedures for entering deposit data into the State's general ledger system

4. Archive related deposit match reconciliation supporting documentation

5. Utilize depository bank image system to retrieve images of deposits that post to the bank without a valid deposit ticket number

6. Upload R*STARS postings excluded from the automated deposit match program do to errors

7. Oversee aging schedule of unmatched State deposits

Bank Processing & Controls 

1. Prepares daily cash balance reconciliation between the Comptroller's General Accounting Division (State general ledger / R*STARS) and the State Treasurer's Office (Dynamics 365 / i5 system)

2. Updates the ACH Bank to Book control spreadsheet and validates that all posted bank activity has been accounted 

3. Prepares manual wire activity control spreadsheets

4. Reconciles the State Accounting System Receiving Warrant against the State Accounting System Receipt Warrant Register Detail daily, validating posted transaction reconcile with the Treasurer's D365/i5 system

5. Performs daily check issuance and clearing control functions such as reviewing disbursement bank positive pay files, initiating issuance of vendor checks to replace vendor ACH payments that have been returned by the bank, and researching and maintaining files concerning "Holder in Due Course" issues

6. Initiates and controls the daily chargeback processing

7. Maintains the State agency research request log

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, investment securities, insurance investment, insurance company home office offering property and casualty experience. 

OR

Education: Graduation from a standard high school, including or supplemented by 18 credited 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, investment securities, insurance investment, insurance underwriting, or in an insurance company home office offering property and casualty experience.

Note:

1. 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. 

Applicants must meet the selective qualification(s) to be considered. Include clear and specific information on your application regarding your qualifications.

§  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. 

Preference will be given to applicants who possess the following preferred qualification(s). Include clear and specific information on your application regarding your qualifications.

§  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 processing EFT / ACH transactions

§  Experience handling bank-initiated chargebacks 

§  Advanced skills in Excel (e.g., complex formulas, linked spreadsheets, H- & V-Lookup, pivot tables, exporting data, CSV files, parsing data, macros)

§  Experience in delivering high level customer service to internal and external customers

Candidates must be willing to work in the Annapolis area.

All candidates will be subject to a background investigation including credit and criminal 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. Successful candidates will be ranked as Best Qualified, Better Qualified, or Qualified and placed on the eligible (employment) list for at least one year.

The assessment may consist of a rating of your education, training, and experience related to the requirements of the position. It is important that you provide complete and accurate information on your application. Please report all experience and education that is related to this position.

Exempt

STATE OF MARYLAND BENEFITS

General questions may be directed to the STO Personnel Office at 410-260-7078.

Electronic application is strongly encouraged.  If you do not have access to a computer, you may fax your application and 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.

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