Asst. Treasurer, Debt Management

1 month ago

New York, United States Empire State Full time
Job DescriptionJob Description

*Applicants MUST submit a cover letter with resume to be considered.

*This position will require in-office presence. Hybrid work schedules may be possible based on specific job duties and consistent with ESD policy.

*Minorities, women, and individuals with disabilities are encouraged to apply. Please contact Human Resources if you require an accommodation.

BASIC FUNCTION:

Manage the ESD debt and derivatives portfolio. Handle debt and investment analysis and reporting related to requirements of the Office of the State Comptroller, Division of Budget, and internal ESD reporting requirements. Work with the Treasurer to manage bond issuance process and related activities to ensure optimal structure, documentation, and execution. Serve as primary backup for Treasury operations and on capital markets issues. Prepare and deliver presentations to the Board for approval of required debt/investment programs and related projects/activities. Perform other activities including disclosure requirements, arbitrage compliance, liquidity facilities procurement, and financial analysis related to various ongoing activities.

WORK PERFORMED:

  • Manage the debt portfolio of approximately $17 billion:
    • Work with the Treasurer to manage bond issuance process and related activities to ensure optimal structure, documentation and execution
    • Manage Arbitrage compliance reporting requirements for all bond issues from inception through maturity
    • Execute required disclosure filings and other compliance requirements of debt obligations
    • File necessary IRS forms to obtain interest subsidy payments related to BABs issues
    • Analyze and project revenues, expenses and cash flow that will impact State appropriation funding requirements for annual budget process
    • Calculate all funding drawdown amounts, tracked by every bond series and every program, for payment requirements throughout the year
    • Work with the Treasurer to execute all other debt related transactions (typically 4-6 per year) including refunding bonds, escrow restructuring transactions, defeasances and tenders
    • Meet with investment banking institutions, and evaluate proposals as needed
    • Obtain necessary liquidity facilities for variable rate instruments and related RFP process
    • Manage RFP process for Underwriters, Swap Providers and Financial Advisors
  • Send Quarterly and Annual reporting to OSC, DOB, and ESD that requires analysis and production of numerous reports and schedules related to all debt resolutions, all funding programs, all associated bond proceeds investment portfolios
  • Prepare and deliver presentations to the Board for approval of investments reports, guidelines, and various other items requiring Board approval
  • Respond to requests sent by auditors of NYS and ESD
  • Assist with investment management to ensure capital preservation, maximize returns commensurate with investments guidelines and liquidity needs, use of the Bloomberg terminal to help analyze investment options. Funds include working capital, revenue bond funds, and special project & economic development funds
  • Perform financial analyses related to various ongoing activities

MINIMUM REQUIREMENTS:

Education Level Required: bachelor’s degree in finance or accounting (If degree in other field, equivalent experience as shown below may suffice), MBA in Finance preferred.

Relevant Experience required: A minimum of 10 years’ experience in Treasury/Finance, Municipal bond finance and issuance, experience with fixed and variable rate instruments and applicable derivative products, investment management experience required.

Knowledge Required: Excellent Excel and analytical skills, Treasury Management System experience, understanding of principles related to economics and finance.

ALTERNATE MINIMUM REQUIREMENTS FOR INTERNAL CANDIDATES: A minimum of 5 years of satisfactory service in another (relevant) position with Empire State Development. Up to 2 years of accredited post-secondary education, or service in the U.S. military may be substituted for service at ESD.

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