What are the responsibilities and job description for the DEBT AND INVESTMENT MANAGER position at Town of Cary?
Working at Cary is more than a job. Here, anyone can lead. We create, innovate and work smarter. We focus on relationships and collaborate across all departments. We enjoy our work and have fun doing it. At Cary, you can join a team dedicated to meeting the needs of our citizens and workforce ensuring our town remains one of the best places to live, work and play in America.
The future of Cary is bright, and turning our dreams into reality requires intelligent and intentional financial decision-making. One of our key tenants as an organization is to effectively steward financial resources to achieve our 2040 OneCary Community Plan. To help meet these goals, we are searching for a leader who can collaborate with internal and external stakeholders to properly manage town debt and make smart financial investments. The Debt and Investment manager will perform complex professional debt and investment work, provide critical input to the budget and audit process, and analyze and present financial information to key stakeholders that provides clarity of direction and purpose.
If you have a background in managing debt and investments, enjoy working in a collaborative environment where anyone can lead, and want to support Cary's innovative dreams, then come join our team and be a part of one of the best communities to live, work and play in the entire nation. Serve as a primary Cary point-of-contact to bond attorneys, financial advisors, North Carolina Local Government Commission, underwriters, rating analysts, trustees, lending institutions, and feasibility consultants.
Manage the debt ratings with Moody’s, S&P, and Fitch.
Facilitate the management and structure of Cary's debt, negotiating the best financing terms, timing, and legal conditions for Cary.
Manage the debt issuance process, including selecting underwriters, trustees, and financial advisors, preparing action items for Cary’s Council, offering documents for investors, information required by state statutes and the North Carolina Local Government Commission, and directing the referendum process and bond closings.
Recommend and manage Cary's use of derivative debt instruments, including interest rate swap agreements, to achieve interest rate savings and to hedge against interest rate risk.
Determine when to refund existing bonds.
Manage Cary’s debt portfolio to include prompt payment of debt service, continuing disclosure, post-issuance compliance and monthly drawn down of bond proceeds.
Participate in Cary’s financial audit and budget processes by preparing various complex schedules related to debt, detailed analytical reviews, and narratives. researches and reconciles items. while answering questions and solving problems.
Actively engage in general and utility fund financial modeling.
Provide critical input for development of Cary’s operating and capital budgets, including the annual debt budget and debt service requirements, along with related schedules.
Research and analyze new debt related issues.
Develop debt and equity (fund balance) policy updates.
Manage cash and investments. make independent, daily investment decisions. monitor bank accounts and ensure appropriate balances to cover operating expenses and investment transactions.
Solicit and analyze competitive investment bids from authorized brokers.
Analyze revenue streams and expenditure patterns to assist with cash forecast.
Invest unspent debt proceeds within arbitrage limits. handle transfers for reimbursement to Cary’s general account.
Maintain investment tracking and reporting software, including system control, custom report design, broker, investment, and account detail information, fiscal year-end close, and monthly update of market pricing.
Manage contracts/agreements with third party banking, financial and cash management partners. coordinate required cash flow information.
Develop cash and investment policy.
Manage and analyze complex investment income revenue forecasting tools and provide investment income revenue budget projections to the Financial Strategy team for inclusion in the budget process.
Participate in Cary’s financial audit by preparing various complex cash and investment schedules, detailed analytical reviews, and narratives. researches and reconciles items. works directly with the auditors in answering questions and solving problems.
Prepare adjusting journal entries, monthly allocations, and various reports to outside agencies. prepare complex year-end journal entries.
Prepare cash report for management review.
Perform other job-related tasks as required.
Comprehensive knowledge of the practices, methods, and laws relating to municipal bond financing. ability to establish and maintain effective working relationships with organizational staff at all levels, bankers, rating analysts, bond attorneys, consultants, and federal, state, and local government officials. ability to negotiate financing terms and legal conditions with underwriters, bond attorneys, and state officials. thorough knowledge of theories, principles, methods, and practices of accounting. thorough knowledge of the laws, ordinances, and regulations governing municipal financial matters. thorough knowledge of governmental investment strategies and investment instruments.Any combination of education and experience equivalent to graduation from an accredited college or university with a bachelor's degree in accounting, finance, business administration, economics or a related field and considerable experience in municipal accounting.
Conditions of Employment
Requires drug testing and background check (which may include criminal check, education verification and credit history review) prior to employment.
Salary : $78,853 - $130,125