VP, Public Finance

1 month ago

New York, United States Assured Guaranty Full time
Position Summary

Responsible for monitoring, managing and reporting on a large portfolio of municipal credits, primarily within the health care and higher education sectors, including the handling of distressed credits; work includes: performing qualitative and quantitative credit analysis, interacting with the management teams of hospitals and higher education institutions as well as their legal and financial advisors, preparing monthly credit reports, handling transaction amendments/waivers/consents, data management, and ad hoc projects related to the portfolio and/or sectors.

Position Description
  • Monitor and evaluate credit quality and trends with respect to a large number of credits within Assured's municipal health care and higher education portfolios, consisting primarily of not-for-profit hospitals/health systems as well as public and private colleges/universities
  • Key analysis includes in-depth, analytical review of operating and financial data/trends collected for specific credits
  • Conduct meetings and/or lead conference calls regarding surveillance issues with hospital management teams/the administration of higher education institutions, financial advisors, bankers, attorneys and/or others key constituents
  • Additional qualitative review of industry/market trends is expected, as needed, for review of credits
  • Prepare written reports on top exposures and "credits of concern" for senior management, identifying any significant issues and providing a rationale for internal rating recommendations
  • Present internal reviews and rating recommendations to the Risk Management Committee at monthly meetings
  • Monitor distressed credits (i.e., below-investment grade (BIG) or "problem" credits) and, as needed, report on them quarterly to senior management; assist in workout scenarios, as needed
  • Process requests for transaction amendments, waivers and consents, including negotiation of any revised terms, preparation of memos/reports for internal approvals, and related administrative actions
  • Assist in oversight/management of internal databases to monitor credit exposure, capture annual data metrics related to specific credits, and identify industry trends/any credit risk deterioration
  • Contribute to the 100% review of the municipal health care and higher education portfolios annually
  • On an ad-hoc basis, assist in the preparation of reports for senior management to disclose the impact of events related to specific credits, the overall health care and/or higher education markets/industries as well as to the security of related municipal bonds insured by Assured
  • Contribute to transaction approval meetings, providing credit opinions and performance assessment used in the evaluation of potential underwriting opportunities
  • Coordinate on projects with other departments or groups including Underwriting, Credit Workout/Remediation, Legal or Reinsurance
  • Solid quantitative and analytical skills, with particular emphasis on hospital and/or higher education finance/credit analysis
  • Experience in working with management teams of hospitals and/or higher education institutions as well as their legal and financial advisors
  • Experience with workout and remediation engagements
  • Proficiency with financial statement analysis, both FASB-based and GASB-based
  • Experience with financial modeling and forecasting
  • Sound understanding of the not-for-profit hospital and/or higher education industries as well as municipal bond market is preferred
  • Solid interpersonal and communication skills, both written and oral, with the ability to convey information in a concise manner
  • Self-starter, with good time management skills and ability to take initiative, who can work independently as well as work closely with a team in a collaborative and dynamic environment
  • Detail orientation and effective organization skills is desirable
  • Proficiency in using external software (e.g., Excel, Word and PowerPoint) and various sources of information (e.g., EMMA, Bloomberg) is necessary to gather data and streamline work processes
  • Ability to quickly learn proprietary software and internal IT systems a must
Candidate Background
  • Minimum 8 to 12 years of relevant experience
  • Bachelor's degree in accounting, economics, business or hospital and/or higher education administration/finance is required; a master's degree is a plus
  • Prior analytical experience within a rating agency, bond insurer, hospital, higher education institution, healthcare/higher education consulting firm, or healthcare/higher education sector experience within the municipal finance team of an investment/commercial bank, financial advisor or investment management firm is preferred

Compensation

Annual base salary for the position is expected to be from $150,000 per year to $200,000 per year. The actual salary will depend on various factors, including but not limited to a candidate's experience and credentials, salary expectations of applicable candidates, and other applicable market conditions. This position also provides applicable employee benefits, as well as eligibility for an annual discretionary bonus.

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