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DEBT MANAGER (TREASURY OPERATIONS OFFICER)

  • City of Long Beach, CA
  • Long Beach, California
  • May 08, 2022
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  • Salary: string(33) "../field_types/display/string.tpl" string(67) "/var/www/html/templates/CareersinGov/field_types/display/string.tpl" $135,000.00 - $153,000.00 Annually USD

Job Description

string(31) "../field_types/display/text.tpl" string(65) "/var/www/html/templates/CareersinGov/field_types/display/text.tpl" DESCRIPTION

THE COMMUNITY
Ideally located on the Pacific coast just south of Los Angeles and adjacent to Orange County, the City of Long Beach, California (population 470,000) is at once a Southern California seaside resort, an urban metropolis with a diverse economy, and a tapestry of small neighborhoods whose international cultures are woven into a tightly knit yet heterogeneous community. Long Beach enjoys a quintessential Southern California climate that makes its abundance of cultural and recreational options appealing throughout the year. It boasts six miles of beaches and numerous beautiful parks and open spaces, as well as The Long Beach Convention Center, Aquarium of the Pacific, Queen Mary, and the annual Acura Grand Prix of Long Beach. Along with a variety of other attractions that include two historic ranchos, three marinas, and five golf courses, the City's many offerings help to draw 5.5 million visitors every year.

The community's economy is further supported by a wide variety of industries including education, health and social services, manufacturing, retail trade, and professional services, among others. The City is a hotbed for startup activity, education and ingenuity. Also, located within the City are Long Beach City College and California State University, Long Beach, which has repeatedly been named a "Best Value College" in the nation by Kiplinger. Serving the K-12 student population, the Long Beach Unified School District consistently attracts international recognition for increasing student achievement and public education best practices and consistently ranks among the Top 10 urban school districts in the country in a variety of reports and rating systems.

Committed to using technology to help deliver the best possible services, Long Beach has been named among the Top 10 "Digital City" in America for nine consecutive years. The seventh largest city in California and one of the most diverse in the country, Long Beach offers its residents and visitors all the amenities of a large metropolis while maintaining a strong sense of community and cohesiveness throughout a wide variety of unique and desirable neighborhoods. Long Beach is known for being bike-friendly and has been ranked the 10th most walkable city in the nation in both 2016 and 2017.

CITY GOVERNMENT
Long Beach is a full-service Charter City governed by nine City Council members who are elected by district. The Mayor is elected at-large. Elected officials also include the City Attorney, City Auditor, and City Prosecutor. Elected officials are subject to a two-term limit, which allows them to serve for a maximum of eight years. The City Council appoints a City Manager to oversee the administration of all City departments, excluding those under the direction of a separately elected official, Board or Commission. In addition to its traditional services, Long Beach maintains one of the world's busiest seaports, which serves as a leading gateway for international trade. The City also has its own full-service commercial airport and is one of only three cities in California with its own Health and Gas & Oil Departments. Long Beach is supported by a total FY 2022 budget of approximately 3.0 billion, with the General Fund budget totaling $634 million. More than 6,000 full and part-time employees support municipal operations with the majority being represented by twelve employee associations.

DEPARTMENT OF FINANCIAL MANAGEMENT
The Department of Financial Management administers the financial affairs of the City of Long Beach and provides related services to citizens, elected officials, and City departments. The Department manages the City's revenues, expenditures, purchasing, accounting, budgeting, investments, cash management, and debt issuance and management. With almost 250 employees, the Department includes the following Bureaus: Administrative Services, City Controller/Accounting, Budget Management, Commercial Services, City Treasurer, Business Services, and Fleet Services.

THE POSITION
The Debt Manager reports to the City Treasurer who in turn reports to the Director of Financial Management/CFO. The Debt Manager communicates with all levels of City administration including elected officials, City Manager, Department Directors, as well as external audiences such as credit & investment analysts, institutional & individual investors, and the public at large. This position is the primary communicator to rating agencies, investors, regulators, and the financial markets.

The Debt Manager advises the City's CFO, City Manager, and City Departments on the financial merits, risks, characteristics, requirements of, and alternatives to financing proposals. They develop citywide debt policies and strategic debt initiatives. The Debt Manager is responsible for the debt portfolios of the City, its enterprise funds, special assessment districts, joint powers authorities, and conduit issuers, exceeding $2.4 billion. This position shares responsibility for timely payment of all debt service, filing of regulatory reports, and ensuring full compliance with bond covenants, representations, and warranties.

The Debt Manager develops individualized financing strategies to accommodate the unique aspects of project proposals, while considering the ramifications to the overall debt portfolio and the securing credit. The Debt Manager is responsible for negotiation of terms, covenants, issuer disclosure, structure, and investment of proceeds for infrastructure and operating liquidity. Debt instruments include municipal bonds, capital leases, bank loans, commercial paper, letters of credit, derivatives, and related instruments both taxable & tax- exempt. The Manager is primarily responsible for minimizing debt service expense through superior negotiation skills and maximizing the return on bond proceeds to minimize negative arbitrage.

EXAMPLES OF DUTIES

EXAMPLES OF DUTIES:
  • Analyzing the financing proposals presented to the City and offering recommendations on the associated risks, benefits, and alternatives available.
  • Manage the issuance of new debt, directing the debt issuance process and the city's consultants to achieve cost effective financing solutions.
  • Administer the City's debt portfolio which may include municipal bonds, bank loans, capital leases, commercial paper, letters of credit, derivatives, and related instruments.
  • Track and ensure compliance with all covenants, representations, and warranties, including arbitrage yield compliance, revenue assignments, timely debt service payments, authorized use of funds, and maintaining the City's pledged asset and pledged revenue inventory.
  • Responsible for debt portfolio reporting, and managing the complete, accurate, and timely filing of Continuing Disclosures, material events notices, regulatory reporting, trustee held accounts, and debt portfolio analysis. The manager may also implement and maintain an investor relations portal with postings and links to pertinent city information and reports.
  • Recommend, then maintain an appropriate Debt Policy, for the City and its issuing components.
  • Review and interpret legal documentation such as trust indentures, lease agreements, and bond purchase agreements. Conduct TEFRA hearing to facilitate bond financings for affordable housing projects. Prepare and present staff reports to the City Council, Finance Authority, and department commissions.
  • Acts as the City Treasurer, Cash Manager, or Investment and Financial Analysis Manager in their absence.


REQUIREMENTS TO FILE

MINIMUM QUALIFICATIONS:
  • Graduation from an accredited university or college with a bachelor's degree in Business Administration, Finance, Accounting, or closely related field.
  • Five (5) years of progressively responsible professional experience in a financial function three (3) of those years issuing and/or managing a significant municipal debt portfolio.
  • Additional experience should include analytic and financial forecasting skills, a thorough understanding of financial markets and instruments, and California municipal finance regulations.
  • Excellent oral and written communication skills.
  • The ability to maintain effective and ethical professional relationships at all levels of business, government, and community.
The City of Long Beach requires all employees to be vaccinated against COVID-19 prior to their first day of employment unless a medical or religious accommodation is approved by the City of Long Beach's Human Resources Department.

DESIRABLE QUALIFICATIONS:
  • An MBA or CFA is highly desirable.
  • Familiarity with the Bloomberg Financial Reporting System.

SUCCESSFUL CANDIDATE WILL DEMONSTRATE:
Knowledge of:
  • Commanding understanding of many financing structures available to municipalities, such as general obligation bonds, revenue bonds, lease revenue bonds, special district bonds, and conduit debt, and the contexts where they are appropriate - both taxable and tax-exempt.
  • Superior knowledge of the municipal financing markets.
  • Superior project management skills.
  • Exceptional communication skills.
  • The highest levels of integrity and professionalism.
Exceptional Skill in:
  • Strategic planning.
  • Project management.
  • Time management.
  • Team leadership.
Ability to:
  • Effectively and successfully promote concepts and win support.
  • Lead multiple unique projects.
  • Plan, organize, and expedite work with a sense of urgency.
  • Work on multiple projects simultaneously under tight deadlines.
  • Work in a fast-paced environment and adapt to changing priorities.


SELECTION PROCEDURE

SELECTION PROCEDURE:
This recruitment is open to applications until the position is filled. The first review of resumes is anticipated for February 9, 2022 . To be considered, please apply online with your cover letter and resume as PDF attachments at: www.longbeach.gov/jobs

Applications will be reviewed for depth and breadth of experience, and for level and relatedness of education. The most qualified candidates will be invited to participate in further selection procedures. Applicants who do not meet the minimum requirements, including submission of all required attachments, will not be considered.

EQUAL OPPORTUNITY:
The City of Long Beach is an Equal Opportunity Employer. We value and encourage diversity in our workforce. The City of Long Beach intends to provide reasonable accommodations in accordance with the Americans with Disabilities Act of 1990. If a special accommodation is desired, or if you would like to request this information in an alternative format, please call (562) 570-6781.

In support of the City's Language Access Policy, bilingual skills (Spanish, Khmer, and/or Tagalog) are desirable for positions interacting with the public. This information is available in an alternative format by request at the agency contact on the bulletin. If a special accommodation is desired, please contact the agency two (2) business days prior to the test, if applicable. In support of the City's Language Access Policy, bilingual skills (Spanish, Khmer and/or Tagalog) are desirable for positions interacting with the public. This information is available in an alternative format by request at the agency contact on the bulletin. If a special accommodation is desired, please contact the agency two (2) business days prior to the test, if applicable.Closing Date/Time: Continuous

PDF Flyer

YouTube

Base Pay

0

Job Address

Long Beach, California United States View Map
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