Debt Management Specialist II (Financial Analyst II)

Debt Management Specialist II (Financial Analyst II)

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Debt Management Specialist II (Financial Analyst II)

Salary

$64,296.00 – $75,000.00 Annually

Location

Norfolk, VA

Job Type

Permanent Full-time

Job Number

12563

Department

Finance

Opening Date

10/17/2024

Closing Date

10/31/2024 11:59 PM Eastern

Description

Benefits

Questions

Description

Norfolk, Virginia is Americas most authentic and urban waterfront city. Home to the worlds largest naval station and the business, arts, and cultural center of Coastal Virginia, Norfolk has been rated a top place to live, work, play, and raise a family by numerous publications. Working for the City of Norfolk is an opportunity to make a real difference in the lives of others. With our commitment to competitive pay and a strong retirement package, you can do good for your community and do well for yourself. Join a caring workplace that proudly celebrates uniqueness, authenticity, and a shared commitment to improving the lives of our residents.

The Department of Finance includes about 60 employees and is comprised of 11 Divisions including Financial Reporting (Accounting), Retirement, Purchasing, Payroll, Business Process Management, Accounts Payable, Accounts Receivable, Risk Management, Fiscal Systems, Debt and Cash Management, and the Director’s Office.

The Debt Management Specialist II is a part of the Debt and Cash Management team, which supports the Citys financing activities by reviewing financial documentation, analyzing cash flows, preparing debt service payments, and coordinating the issuance of bonds and other financial instruments. This role is responsible for monitoring the City’s debt portfolio, ensuring compliance with legal and regulatory requirements, and preparing reports and presentations related to the Citys financial status. The position collaborates with other departments to update capital project cash flows and participates in long-range debt strategy planning to maintain financial integrity. Additionally, the role involves conducting research, preparing recommendations for management, and assisting with budget analysis.

Essential Functions

Assists in the execution of all City financing, such as bonds, bank loans, lines of credit, etc.; by reviewing and analyzing financial documentation, analyzing cash flows to determine timing and bond issuance amount, production of the preliminary and official statements, review of Master/Supplemental Indenture, production of rating agency presentations, and coordination of related tour, scheduling of public hearing and review of all legal documents.

Prepares the debt service payments and the development of draft official disclosures for primary and secondary bond markets.

Reviews draft legal documents and makes recommendations to management; monitors ongoing compliance and administers the City’s debt portfolio, which includes accurately reporting, budget and paying the City’s debt service and monitoring the City’s portfolio for potential refunding opportunities.

Ensures the accuracy of financial modeling and reviews financial analysis to analyze the financial viability of various projects relative to incurring additional debt or diverting operating funds.

Works with other City departments to develop and update capital project cashflows and each years Capital Improvement Program.

Prepares analysis and/or written communications; participates in discussions regarding financial policy, strategy, and stewardship and assists in planning the Citys long-range debt strategy to maintain the financial integrity and credit rating of the City.

Assists in the identification and implementation of innovative options for various financings.

Conducts a variety of research and other assigned projects by compiling and reviewing internal and external organizational information, preparing position and issue papers; and recommending changes for management consideration; analyzes problem areas in service delivery and formulates recommendations for improvements; serves as a staff resource.

Participates in budget process by compiling and providing cost information to management and other staff; and analyzing information for management reports; ensures that costs are accurately reflected by reconciliation and maintenance of various tracking systems and reviews the long-term financial plan of the City’s enterprise to ensure compliance with their financial policies.

Prepares communication materials, for review by management, regarding debt portfolio and other debt-related topics, including the monthly Debt Flash Report, monthly Bond Proceeds Report, annual Debt Report, annual Debt Audit Workpapers.

Monitors compliance with IRS and SEC regulatory requirements and reporting standards, as well as the administration of continuing disclosure program to ensure compliance with all covenanted disclosure requirements for outstanding debt.

Education/Experience

Work requires broad knowledge of accounting, budgeting, business administration, advanced statistics, finance, or related field. Knowledge is normally acquired through four years of college resulting in a Bachelors degree or equivalent.

Required:

Three years of financial/economic forecasting or municipal debt management.

Additional Information & Requirements

Work Schedule: Monday – Friday 8:30 am – 5:00 pm

Signing Bonus: This position is eligible for a one-time $5,000 signing bonus.

Regular full-time and permanent part-time employees may receive paid holidays, vacation and sick leave, employer paid pension plan, basic life insurance, voluntary participation in medical and dental, Section 457 deferred compensation, long-term disability, optional life insurance for self, spouse and children, medical and dependent care reimbursement plans, access to membership in credit union and employer provided parking.

Special project/grant employees are generally eligible for the same benefits of regular full-time employees; however, retirement, life insurance and participation in health plans vary depending upon funding and authorization.

Temporary/seasonal and part-time employees are generally only eligible for employer provided parking and access to membership in credit union.

Retirement

If you are hired October 5, 2010, or after to a position with City of Norfolk Retirement System benefits, you will be required to contribute five percent (5%) of your salary toward your retirement benefit. This will be a pre-tax payroll deduction.

If you are hired January 1, 2022, or after to a position with Virginia Retirement System (VRS) benefits, you will be required to contribute five percent (5%) of your salary toward your retirement benefit. This will be a pre-tax payroll deduction.

The Tuition Assistance Program is established to encourage employees toward continued self-development and education. Permanent full-time and permanent part-time classified, unclassified permanent, full-time special projects, and constitutional employees who have completed six months continuous service will be eligible to apply. The applicant’s school of enrollment must be an accredited institution.

NOTE:

The benefits described above are broad generalizations. The specific benefits that an employee may be eligible for are governed by City regulations, as applicable to job type.

Non-City

Positions listed with a job type designation of “Non-City” are not subject to the benefits descriptions above. Refer to the content of the job posting for information regarding these positions.

01

The following Supplemental Questions are specific to the position for which you have applied to assist the hiring manager in screening applications for specific experience being sought. Please be specific in answering these questions as they will be used to evaluate which applications will be given further consideration in the process. Do not answer “see resume” or “see application” as these are not valid answers. Please note that if you are invited to be interviewed by the department, your responses to the following questions may be subject to verification.

I understand and will answer the following supplemental questions completely and thoroughly.

02

If you were referred for this position by a current City of Norfolk employee, please provide the employees full name, department, and job title. If not, please indicate by typing “N/A.”

03

Please select the highest level of education you have completed.

High School Diploma/GED

Some College (6 months or more)

Associates Degree

Bachelors Degree

Masters Degree or higher

04

Do you possess a Bachelors or Masters degree in Finance, Accounting or a related field?

Yes

No

05

How many years of experience do you have in financial analysis?

Less than 3 years

3-4 years

5-6 years

7 years or more

06

Please describe your experience.

07

Please rate your level of proficiency with Microsoft Excel. (Applicants may be subject to a skills assessment.)

Beginner

Intermediate

Advanced

Expert

08

This role may require you to work additional hours if and when required. Are you able to meet this requirement?

Yes

No

09

Do you have the legal right to work in the United States and, upon employment, can you provide documentation to verify this?

Yes

No

10

Please provide an explanation of any periods of unemployment that are 30 days or longer. Indicate N/A if you have not experienced any periods of unemployment.

11

Are you a current or previous City of Norfolk employee?

Yes – I am a current City of Norfolk Employee

Yes – I am a previous City of Norfolk Employee

No – I am not a previous or current City of Norfolk employee

12

Please indicate your veteran status. (A copy of your long form DD-214 may be required)

I am not a Veteran

I am a Veteran

I am a Disabled Veteran

Required Question

Agency

City of Norfolk

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