Debt & Treasury Manager (Debt Focus 80%)

JOB TITLE: Debt & Treasury Manager (Debt Focus 80%)
AGENCY: City of Riverside
LOCATION: Riverside, CA
FILING DEADLINE:  July 28, 2023
SALARY RANGE:  $128,160.00 to $188,040.00

THE POSITION
Reporting to the Finance Director, the incumbent manages the City’s debt and investment portfolios and oversees City cash handling and Treasury operations. This position monitors, communicates, and advises financial concepts such as the financial merits, risks, characteristics, requirements of, and alternatives to financing proposals. In addition, the Debt and Treasury Manager provides financial reports and complex data to all levels of City administration, including elected officials and external audiences such as ratings agency credit & investment analysts, institutional & individual investors, property owners, and the public at large. There are eight other staff members in this division.

The job duties of the Debt and Treasury Manager include, but are not limited to:

• Developing and maintaining citywide debt policies and strategic debt initiatives in compliance with recent legislation and SEC/MSRB regulations.
• Developing individualized financing strategies to accommodate the unique aspects of proposed capital projects, while considering the ramifications to the overall debt portfolio and the securing credit.
• Managing the issuance of new debt, coordinating the debt issuance process, and overseeing the City’s expert consultants to achieve cost effective financing solutions.
• Reviewing and interpreting legal documentation such as trust indentures, lease agreements, and bond purchase agreements.
• Tracking and ensuring 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.
• Conducting TEFRA hearings to facilitate bond financings for affordable housing projects.
• Preparing a wide variety of annually recurring and one-time City Council and Riverside Public Utility Board reports and make related presentations to the City Council and Utility Board as required.
• Overseeing the Treasury division, reviewing contracts for compliance with industry regulations and banking requirements, monitoring cash levels to maximize investment opportunities, and maximizing efficiencies in Treasury processes.
• Coordinating with the City’s Investment consultants to ensure compliance with investment policy, state law, bond permitted investments, and other obligations while maximizing interest and responding to market conditions.

Knowledge of:

• Financing structures available to municipalities, such as general obligation bonds, revenue bonds, lease revenue bonds, pension obligation bonds, special district bonds, capital leases, derivatives, letters of credit, and conduit debt, and the contexts where they are appropriate – both taxable and tax-exempt.
• California municipal finance regulations (CDIAC and SEC), Mello Roos Act, Landscape and Lighting Act, and Streets and Highways code as it pertains to formation and assessment of Special Funding Districts.
• Relevant federal, state, and local laws, codes, and regulations related to municipal finance.
• Budgeting, accounting, and financial record keeping and reporting principles and procedures and their application to a wide variety of tasks and problems.
• Operational characteristics, services, and activities of governmental budget, debt administration, cash handling, and accounting programs.
• Management and research techniques and procedures and methods of report presentation.

THE IDEAL CANDIDATE
The ideal candidate is an experienced, technical, and seasoned debt and treasury professional with experience working on development projects, special district assessment, and has working knowledge of public utilities. A mentorship style of management is essential to build teamwork, collaboration, and teach technical and customer service concepts to staff. This Manager will have a focus on debt and investments, process improvements, and compliance analysis and activities. The finance department has a collaborative and transparent organizational culture. The successful candidate will be a subject matter expert in the field able to discuss varied, complex issues with various technical and nontechnical audiences. Effective communication and interpersonal skills are necessary to build and foster positive staff and interdepartmental relationships, as well as provide clear presentations and reports to leadership, various committees, and community groups. A manager with a track record providing support and guidance while creating a workplace of mutual trust, respect, and a family-type environment is highly desirable.

The Debt and Treasury Manager must have the ability to maintain effective and ethical professional relationships at all levels among businesses, property developers, public agencies, and the community; plan, organize, supervise and review administrative, financial, budgeting, debt administration, and accounting related activities; manage large complex projects across teams of finance staff, other city departments, and consultant experts – meeting a variety of legislative and legal deadlines and mitigating possible risk and exposure to the City.

Key Attributes and Characteristics

• A subject matter expert who can foster strong, collaborative working relationships with all levels of stakeholders including developers, bond counsel, and other stakeholders.
• Solid understanding of portfolio investment and the ability to analyze debt structure and portfolios.
• Strong analytical skills with solid experience in compliance and process and workflow improvements.
• The ability to creatively communicate complex financial information to non-financial audiences verbally and in writing, using graphics, and simple, practical terms.
• A management style that looks for continuous ways to improve processes, utilizes technology to create efficiencies, and factors in the current hybrid working environment to ensure continued fiscal responsibility.
• Stay current, understanding, and interpreting current and prospective laws, rules, and regulations.
• Has the ability to lead multiple unique projects, effectively and successfully promote concepts and organizational efficiencies, and win support for initiatives.
• An active listener, calm under pressure, possessing a positive attitude and a good sense of humor.

THE CITY OF RIVERSIDE
The City of Riverside is a growing metropolitan hub, with an artistic spirit, positioned for a sustainable urban future. Ranked as the 12th largest city in the state with a population of 317,000, Riverside is an urban amenities center that includes museums, theaters, fine dining, an array of festivals and markets, and four internationally recognized universities and colleges. The City believes in continually investing in and improving the community.

For more details about this opportunity, please visit the job brochure at: https://koffassociates.com/wp-content/uploads/2023/06/Rev3-Riverside-DTM.pdf.

To be considered, please submit a resume, cover letter, and five work related references (who will not be contacted in the early stages of the recruitment) to: https://koffassociates.com/debt-treasury-manager/. Resumes should reflect years and months of positions held, as well as size of past organization(s).

For additional information, please contact:

Frank Rojas
Phone (510) 495-0448
Email: [email protected]

OR
Amanda Kreller
Phone (707) 687-2194
[email protected]

Website: https://koffassociates.com/

To learn more about the City of Riverside, go to: https://riversideca.gov/.