DIVISION: Financing Policy & Coordination

JOB TITLE: One (1) Assistant Director

CONTROL CODE: EXE-23-07


The following is a vacancy within OMB not previously announced:

SUMMARY:

The Mayor’s Office of Management and Budget (OMB) is the City government's chief financial agency. OMB's staff of analysts and experts assembles and oversees the Mayor’s expense and capital budgets, which fund the services and activities of approximately 90 City agencies and entities. The Financing Policy and Coordination Task Force (Task Force) manages the City's long-term capital financing program and seasonal borrowing. In addition to implementing the NYC General Obligation bond financing program, the Task Force is also directly responsible for the debt management of other financing entities including: the New York City Municipal Water Finance Authority, the New York City Transitional Finance Authority (TFA), the Hudson Yards Infrastructure Corporation (HYIC), and the Tobacco Settlement Asset Securitization Corporation (TSASC). (TSASC is a not-for-profit corporation established by the City to securitize tobacco settlement revenues). The Task Force is responsible for bond issuance for new money financing of the City capital plan, refinancing of outstanding debt to reduce annual borrowing costs, ongoing monitoring of floating rate debt and interest rate derivatives, as well investing monies held by the bond financing entities mentioned.

OMB is seeking an Assistant Director/Associate Director in the Financing Policy & Coordination Task Force. The Assistant/Associate Director / Deputy Director will report directly to the Deputy Director of the Task Force, leading the team dedicated to debt issuance and ongoing management for the General Obligation, TFA, HYIC and TSASC programs.

The staff in this Task Force work closely with investment bankers, financial advisors, bond counsel, and other governmental entities on securities transactions. It is responsible for preparing the City's debt service budget as well as the budget of the other financing entities under OMB’s purview and providing various analyses relating to bond structure, pricing and the City bonding capacity and debt burden.


JOB DESCRIPTION:


The duties of the Assistant Director/Associate Director encompass the following activities:
- Oversee the structuring and analysis of bond and note offerings through quantitative and qualitative evaluation of financing proposals, cash flows and bond documents;
- Assist in the process to select outside professionals including Underwriters, Counsel, Auditing, and Financial Advisory firms through the RFP process;
- Manage all aspects of ongoing debt portfolio management, including the investments & cash flows of the bond financing entities administered at OMB (TFA, HYIC, etc.);
- Participate in board governance, rating agency inquiries, and investor relations;
- Work closely with financing team to ensure successful and orderly issuance of debt to the public, based on capital funding requirements and agency objectives;
- Monitor debt service and prepare reports for NYC Budget Financial Plan updates;
- Review debt service models, budget models, ad hoc analyses as needed

1. A baccalaureate degree from an accredited college.

QUALIFICATIONS - Minimum of ten years of Public Finance experience - Familiarity/comfort with legal documents & concepts central to Public Finance including: Federal Tax Law/Arbitrage Certificates, Bond Indentures/Resolutions, Bank Credit Facility Documents, etc. - Exceptional interpersonal skills and an ability to maintain working relationships with staff, City officials, government agencies, the public and all other internal and external workforces at all levels with utmost professionalism. - Advanced ability to lead and oversee a team of finance professionals. Ability to work independently as a self-motivator and to motivate others as a leader of a team and to work with minimal supervision. - Exceptional organizational, research, problem solving, and analytical skills. - Outstanding written and spoken communications skills, including public speaking and presentation. - Ability to manage multiple, often-competing priorities proficiently, and manage staff effectively to ensure properly skilled individuals are assigned to and satisfy specific needs. - Strong computer technology skills including a proficiency in Microsoft Office software (Word, Excel, Access, and PowerPoint) and the ability to learn new technology quickly.

As a prospective employee of the City of New York, you may be eligible for federal loan forgiveness programs and state repayment assistance programs. For more information, please visit the U.S. Department of Education’s website at https://studentaid.gov/pslf/

New York City residency is generally required within 90 days of appointment. However, City Employees in certain titles who have worked for the City for 2 continuous years may also be eligible to reside in Nassau, Suffolk, Putnam, Westchester, Rockland, or Orange County. To determine if the residency requirement applies to you, please discuss with the agency representative at the time of interview.

The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.