Banking Operations - Treasury Specialist

Maryland State Treasurer's Office
Annapolis, MD
Dec 01, 2021
Dec 03, 2021
Full Time
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. 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. The Banking Services department currently has two vacancies to fill: Bank Portal, Lockbox & Collateral Specialist, and Bank Adjustments Reconciliation Specialist. The Bank Portal, Lockbox & Collateral Specialist is responsible for managing and administering access to the bank portals for the State Depository and the State Lockbox bank accounts (over 100 accounts with 900+ users) by establishing and auditing "Agency Level" Administrators and enabling the set up of "Agency Level" Users. The incumbent serves as the liaison between the State Treasurer's Office (who maintains the State's banking relationships), State Agencies utilizing these services, and the contracted Depository Bank and Lockbox Bank. This position is also responsible for the monthly collateral reconciliation ensuring that all State funds on deposit with financial institutions are collateralized as required by Statute. Additionally, this position manages collateral, totaling in excess of $100 million, posted by insurance companies conducting business in the State of Maryland by working closely with the Maryland Insurance Administration (MIA) and insurance companies, ensuring collateral pledged is appropriate, keeping accurate records and completing a monthly reconciliation between the STO, the Custodian Bank and MIA. This position also oversees the State Lockbox accounts to ensure excess funds are swept daily and that peg (target) balances are appropriate with State needs. Lastly, this position serves as back-up for the State's Investment Associate for critical investment functions such as daily cash positioning and executing respective trades. 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 Banking Services Division is a cohesive, dedicated group of professionals who enjoy the behind-the-scenes environment of back-office banking operations. 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. MINIMUM QUALIFICATIONS: 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 or investment securities experience. OR Education : Graduation from a standard high school, including or supplemented by 18 credit 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 or investment securities experience. Note: Candidates may substitute US 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. SELECTIVE QUALIFICATIONS (Applicants must meet the selective qualifications to be considered): 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. Preferred Qualifications (Strong Preference will be given to applicants that possess the following): Experience administrating bank portals or similar secure sites for user access Experience evaluating collateral for current market value based on set standards and/or regulations Experience in government securities investing Experience handling cash management and short-term investments Experience with back office commercial banking operations in the areas of lockbox, controlled disbursement, remote deposit, positive pay, electronic funds transfer processing (ACH, Fedwire/CHIPS/SWIFT) Experience handling bank-initiated chargebacks/adjustments Experience with BAI codes Advanced skills in Excel (eg, complex formulas, linked spreadsheets, H- & V-Lookup, pivot tables, exporting data, CSV files, parsing data, macros) Special Requirements: All candidates will be subject to a background investigation including criminal and credit history. Limitations on Selection: Candidates must be willing to work in the Annapolis area. SELECTION & EMAXINATION PROCESS: The examination may consist of a rating of your education, training, and experience related to the requirements of the position. You may be required to complete a qualifications supplement, or the rating may be based on your application. 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 . Applicants who meet the minimum and selective qualifications will be admitted to examination for this classification. Successful candidates will be ranked as BEST QUALIFIED, BETTER QUALIFIED, or QUALIFIED a nd placed on the employment (eligible) list for one year. Job opportunities within the Maryland State Treasurer's Office are accessible through JobAps, the Statewide Recruitment, Examination and Applicant tracking system. Please upload a current copy of your resume with your application. Electronic application is strongly encouraged. If you do not have access to the internet, you may fax your application to 410-260-4090. General questions may be directed to the STO Personnel Office at 410-260-7078. As an equal opportunity employer, Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State's diversity. TTY Users: call via Maryland Relay