Treasury Professional Manager I

Section 6-222 through 6-225 of the State Finance and Procurement Article governs the investment of the State’s unexpended or surplus money.  The Investment Department in the State Treasurer’s Office is charged with the responsibility of investing these monies in accordance with established laws, policies and procedures, as well as establishing an Investment Policy which provides additional guidance and protocols for investment of state monies.

 The Investment Department primarily invests the cash balances that are temporarily idle between the time State revenue is collected and the time budgeted amounts are disbursed. The Department is also responsible for several longer-term investment activities associated with the purchase of 20-year development easements on agricultural land and the payment of lottery prizes. The Department manages the investment of General Obligation bond proceeds and directs the short-term and long-term investments of a number of trustee accounts under State agency revenue bond indentures. Interest earnings on investments under the stewardship of the State Treasurer accrue to the General Fund unless State law or regulation directs that the interest should accrue to a specific fund.  Under State law, investments by the State Treasurer’s Office are limited to secured bank accounts, full faith and credit obligations of the federal government, obligations of certain federal agencies or instrumentalities, repurchase agreements collateralized by those securities, certain money market mutual funds and limited amounts of highest rated commercial paper.

 The State wants to make proceeds from its investments, and the investment portfolio is ultimately designed to meet the cash flow needs of the State so that funds are available to cover disbursements and fund State programs for its citizens.  However, the highest priority of the Investment Department is the safe and prudent keeping of public funds. Subsequent priorities encompass liquidity of the portfolio to meet all operating requirements of the State and return of investment with due regard for minimizing risk while maximizing return in consideration of the cash flow characteristics of the portfolio.

22 (Salary guidelines apply for State of Maryland employees)

Annapolis, MD

The Deputy Director of Investment Services is responsible for all operations of this three-person department, ensuring adherence to all statutes, regulations and policies. The Deputy assists with and is accountable for the accurate and timely processing of all cash management and investment activities with regard to the States $650+ billion annual cash flow and the $25+ billion investment portfolio.  The incumbent should be able to draw on public finance experience, knowledge and resources to strategize, develop, and implement policies and procedures which will promote automation in all areas of cash management for State operations. This position is also responsible for full supervision of one other position in the Investments Department. 

This is a full time position with State employment benefits including paid holidays, vacation/sick/personal days, subsidized medical and dental plans, defined-benefit pension plan, 401(k)/457 plans with a State match up to $600 per fiscal year, and free parking. This position is Management Service and serves at the pleasure of the Maryland State Treasurer. 

The ideal candidate should have:  

• Bachelor’s degree in business administration, finance, economics, or related subject area.

• Comprehensive, hands-on experience with fixed income investments.
• Experience with money management, knowledge of wall street investments.
• Demonstrable knowledge and/or experience with public finance (i.e., public revenue, public expenditure, and public debt).
• Experience in government and/or non-profit investing and cash management.
• Experience supervising subordinate staff including assignment and review of work, performance evaluation, time and leave approval, training, and involvement with Human Resources.
• Additional treasury or financial certifications or post-graduate education in related fields.

Applicants must be willing to work in the Annapolis area. Candidates will be subject to a background investigation to include credit and criminal history.

This is a management service position that serves at the pleasure of the Appointing Authority. Please make sure that you provide sufficient information on your application to show that you have the desirable qualifications for this position.

The assessment may consist of rating your education, training, and experience related to the desired 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 relevant to this position on your application. Information that is not listed on your application or attachments will not be considered.

Exempt.

WHY WORK FOR THE STATE OF MARYLAND? 

• Job stability and pinnacle experience (we are a Constitutional Office)
• Work-life balance
• Ability to make your mark through public service
• Predictable hours and hybrid teleworking schedules
• Paid holidays 12-13 per year
• Generous paid leave package (annual, sick, personal and compensatory leave)
• State Pension ("defined benefit" plan)
• Tax-deferred supplemental retirement savings plans (401(k) and 457 plans) with $600 State match per year!
• Free parking
• Comprehensive, subsidized health, dental and prescription plans with little to no deductibles, free generic prescriptions, and free preventative health services
• Flexible Spending Account plans for Health Care and Daycare
• State Employees Credit Union
• Direct Deposit

Job opportunities within the Maryland State Treasurer’s Office are accessible through JobAps, the Statewide Recruitment, Examination and Applicant tracking system. Go to www.JobAps.com/MD to apply. Please upload a current copy of your resume with your application.

Electronic application is strongly preferred; however, if you do not have access to a computer, you may send a copy of your resume by email to hr@treasurer.state.md.us or fax to 410-260-4090. Any questions regarding this recruitment or the recruitment process may be directed to the STO Personnel Office at 410-260-7903.

 As an equal opportunity employer, Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State’s diversity.