Introduction The Maryland State Retirement Agency (the Agency ) is the administrator of the Maryland State Retirement and Pension System (the System ). The System is a multi-employer, public employees' benefit retirement system composed of twelve (12) separate retirement and pension systems with additional plan components, covering approximately 205,000 active members and more than 175,000 retirees and beneficiaries. The Investment Division of the Maryland State Retirement Agency seeks two bright, highly motivated individuals to join our Investment Associate Internship Program. Each Intern will have a hands-on opportunity to apply what has been learned in the classroom to a real world, large-scale investment operation. The interns will be assigned special projects, learn how to utilize financial software, and work with experts who are responsible for investing the plan assets of the Maryland State Retirement and Pension System, totaling approximately $73 Billion as of June 30, 2025. The Interns, like our Investment Team, must maintain a positive team management approach and be both results driven and creative problem solvers who work together to assist the team in managing our global multi-asset portfolio. The Investment Division is committed to providing professional work experience that will give the Investment Associate Interns a complete understanding of the institutional investment process and to provide a diverse and inclusive workplace that embraces both analytical and innovative thinkers. Interns will have the opportunity to work on special projects in one or more areas including Public Equity, Fixed Income, Real Estate, Private Equity, Compliance, and Accounting and Operations. GRADE HRLY 0005 LOCATION OF POSITION Maryland State Retirement Agency 120 East Baltimore, Street, Baltimore, MD 21202 Main Purpose of Job Internship Program Each Intern will have a hands-on opportunity to apply what has been learned in the classroom to a real world, large-scale investment operation. Selected interns will be assigned special projects, learn how to utilize financial analytical software, and work with experts who are responsible for investing the plan assets of the Maryland State Retirement and Pension System, totaling approximately $73 billion as of June 30, 2025. This is an opportunity for students going into their junior, senior, or graduate studies, or a recent graduate (December 2025 or May 2026) at the start of the internship. POSITION DUTIES As a Summer Intern you will:
- Contribute to special projects within one or more areas of the Investment Division;
- Conduct meaningful research projects that could be implemented to make investment decisions;
- Present research findings to senior management and gain valuable presentation experience;
- Have the opportunity to learn about macroeconomic and political events by attending industry seminars and conferences, and learn how these factors influence the investment process;
- Participate in the investment manager due diligence process and learn how managers are evaluated and selected;
- Acquire foundational skills over a wide range of investment disciplines and asset classes;
- Collaborate with teams across the division, including investment compliance, accounting, and cash/trade/settlement operations;
- Gain a well-rounded understanding of the full investment cycle; and
- Perform other department-related projects and duties, as assigned.
MINIMUM QUALIFICATIONS Education: Current sophomores, juniors, or seniors matriculating to junior, senior, or graduate status in a four-year college or university at the start of the internship with a 3.0 or higher GPA. All majors will be considered. Experience: None DESIRED OR PREFERRED QUALIFICATIONS While there are no minimum requirements for STEM or finance-related subjects, successful candidates typically have completed some STEM courses. Preference will be given to applicants who possess all or some of the following preferred qualification(s). Include clear and specific information on your application regarding your qualifications to receive credit.
- Excellent communication and interpersonal skills.
- Intellectual curiosity and strong problem-solving skills.
- Excellent analytical skills and attention to detail.
- Proficient in Microsoft Office Suite, including Excel, Word, and PowerPoint. Knowledge of programming languages such as Python or R is a plus.
- Ability to work independently with moderate direction and as part of a team.
- Ability to establish and maintain cooperative working and professional relationships.
- Ability to quickly adapt to changes in priorities, assignments, and timelines.
- Possession of high integrity and ethical values.
- Have ties to Maryland (attendance of a Maryland-based university and/or Maryland residence).
Dates of the Internship The start of the internship is TBD (estimated to be late May/early June 2026). This internship will run about 10 to 12 weeks, subject to the availability of selected candidates. This internship will follow a hybrid model: a combination of in-person and virtual presence will be required. TRANSCRIPTS ARE REQUIRED FOR THIS RECRUITMENT. PLEASE SUBMIT YOUR TRANSCRIPT (EITHER UNOFFICIAL OR OFFICIAL TRANSCRIPTS ARE ACCEPTABLE) ALONG WITH YOUR APPLICATION TO BE CONSIDERED. IN ADDITION, APPLICANTS ARE ENCURRAGED TO SUBMIT RESUMES AND COVER LETTERS ALONG WITH TRANSCRIPTS. EXAMINATION PROCESS 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. FURTHER INSTRUCTIONS Online applications are highly recommended. However, if you are unable to apply online, the paper application and supplemental questionnaire may be submitted to: Department of Budget and Management, Recruitment and Examination Division, 301 W. Preston St., Baltimore, MD 21201. Paper application materials must be received in our office by the closing date for the recruitment. No postmarks will be accepted. Transcripts, cover letters and resume can be uploaded as an attachment under the Resume Tab of the online application. Please combine all documents together as ONE attachment (transcripts, cover letters and resume etc.). For questions regarding this recruitment, please contact the DBM Recruitment and Examination Division at ...@maryland.gov or 410-###-####, MD TTY Relay Service 1-800-###-####. We thank our Veterans for their service to our country. People with disabilities and bilingual candidates are encouraged to apply. As an equal opportunity employer, Maryland is committed to recruitment, retaining and promoting employees who are reflective of the State's diversity.