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Introduction
Located on the western shore of Lake Michigan, Milwaukee is an urban hub bursting with energy. Milwaukee provides a casual sophistication – big city appeal without the big-city hassles. We are accessible and affordable, and our residents are welcoming. Milwaukee has evolved through the years, bringing together its unsurpassed old-world charm with a breathtaking Art Museum, top-flight arts and cultural attractions, professional sports, lakefront festivals, recreational opportunities and great restaurants.
The City of Milwaukee is proud to employ a diverse workforce that is committed to providing exemplary service to the City’s residents. If you have a passion for being a part of an inclusive team of public servants, please consider the following opportunity.
Purpose
The Capital Finance Manager facilitates the sale and administration of all City debt, including debt issued for the Milwaukee Public Schools (MPS). The position provides the City with borrowed funds as needed, and as authorized by the Common Council, in order for the City to meet its financial obligations on a timely basis. The Capital Finance Manager maintains the City’s access to capital markets and obtains the lowest cost financing and maximum financial flexibility, given the City’s financial and budgetary constraints as well as statutory and regulatory restrictions.
Essential Functions
Structure and issuance of debt for the City and MPS
Design and implement alternative financing structures that meet City, regulatory, and legal constraints.
Manage and coordinate outside professionals in the debt issuance process.
Prepare and assemble City debt documents.
Prepare and analyze budget and spending reports to project City cash needs.
Explain proposed financings to the Budget Office, Common Council, Public Debt Commission, rating agencies, credit enhancers, banks, purchasers, and investors.
Implement the borrowing portion of the City’s adopted budget by preparing, introducing, supporting, and monitoring the passage of numerous resolutions required to implement borrowings approved in the City’s annual budget.
Carry forward unused prior borrowing authorizations into the current year.
Management and Planning for Public Debt Amortization Fund
Maintain database of information on debt issued and authorized to be issued
Maintain the City’s post-issuance compliance with IRS and SEC rules and regulations, including Continuing Disclosure requirements.
Ensure the City is in compliance with debt covenants.
Prepare, maintain and update debt related policies.
Remain up to date regarding of changes in federal, state, Internal Revenue Service (IRS), U.S Securities and Exchange Commission (SEC), and Municipal Securities Rulemaking Board (MSRB) laws and regulations, and their impact on debt issuance.
Monitor outstanding debt and other financial obligations.
General Office Planning, Administration and Analysis
Research and analyze projects. Review, analyze, and comment on proposed legislation. Analyze and assist other entities where the City’s Comptroller is a Board Member.
Provide staff support for the Public Debt Commission.
Prepare and review the budget for Debt Service and the Division.
Write Requests for Proposals (RFP) to engage outside professionals including Bond Counsel, Disclosure Counsel, Municipal Advisor, Underwriters, and Bank Lines. Review responses and recommend selection.
Adjust services and expectations as needs of the City change.
Determine how Small Business Enterprise (SBE) firms can be developed into the lead firms and implement the program.
We welcome qualified individuals with disabilities who are interested in employment and will make reasonable accommodations during the hiring process in accordance with the Americans with Disabilities Act (ADA) of 1990, as amended by the Americans with Disabilities Act Amendments Act (ADAAA) of 2008.
Conditions of Employment
Please be advised that new employees are required to have received either both doses of the Moderna or Pfizer or one dose of the Johnson & Johnson vaccine prior to their employment start date or have an approved religious or medical accommodation prior to their employment start date. You can find further information relative to the City’s COVID-19 Vaccination Policy here.
Minimum Requirements
Bachelor’s degree in finance, economics, accounting, public administration or a closely related field from an accredited college or university.
Five years of progressively responsible experience in public finance.
Equivalent combinations of education and experience may be considered.
IMPORTANT NOTE: To receive credit for college, transcripts are required and must be received by the application period closing date. College transcripts should be attached to your online application or sent via email to [email protected]. Applications without transcripts attached will be considered incomplete and will be rejected. Your transcript must be legible and include the following information: the university or college name, your name, the degree completed (if applicable) and the date the degree was completed. Student copies are acceptable.
Desirable Qualifications
Completion of Series 50, Municipal Advisor Representative Exam Certification.
Experience with Series 7 or 53 securities license.
Experience with the DBC Debt Manager platform.
Knowledge, Skills, Abilities & Other Characteristics
Technical
Knowledge of financial Markets, fixed income capital markets, and publicly traded securities
Knowledge of federal and state municipal bond law, banking regulations and the Internal Revenue Service code and regulations regarding the issuance of tax-exempt bonds (section 103 and section 148).
Knowledge of state and local laws regarding the issuance of debt.
Knowledge of Securities and Exchange Commission regulations and marketplace conventions.
Knowledge of Financial Industry Regulatory Authority (FINRA) and Municipal Securities Rulemaking Board (MSRB) rules and regulations.
Knowledge of banking regulations regarding corporate trust operations, fed wire system and clearing of security transactions.
Ability to understand and interpret risk/reward characteristics of debt and debt like instruments.
Ability to conduct quantitative modeling and quantitative analysis.
Ability to use public finance debt structuring software and accounting systems.
Ability to read and interpret job related materials including financial statements, laws, code, and regulations.
Knowledge of mathematical principles and the ability to make accurate calculations.
Skill in managing large and complex quantities of data and information.
Ability to differentiate various classes of investors in municipal obligations and differences in various channels to reach those investors.
Communication, Presentation and Interpersonal
Ability to effectively communicate complex debt concepts both verbally and in writing.
Ability to prepare executive summaries and other written communications for senior management and Common Council members.
Verbal communication skills to positively represent the City to individuals and groups both large and small.
Ability to work cooperatively and effectively with coworkers and residents whose backgrounds may differ from one’s own.
Judgement and Professionalism
Ability to solve and manage problems independently with a high degree of accuracy.
Ability to think critically and analytically to problem-solve, make decisions and use sound judgement.
Ability to work effectively under pressure and tight time constraints to produce high quality products.
Professionalism, integrity, and the ability to maintain confidentiality.
Current Salary
The current salary range (PG 2OX) is $87,472-$122,465 annually, and the resident incentive salary range for City of Milwaukee residents is $90,097-$126,139 annually. Appointment above the minimum is possible based upon level of experience and other qualifications and is subject to approval.
BENEFITS
The City of Milwaukee provides a comprehensive benefit program that includes the following:
Defined Benefit Pension Plan
457 Deferred Compensation Plan
Health and Dental Insurance
Comprehensive Wellness Program
Onsite Clinic Services
Onsite Employee Assistance Program
Alternative Work Schedules
Long Term Disability Insurance
Group Life Insurance
Tuition Benefits
Paid Vacation
11 Paid Holidays
Paid Sick Leave and other paid leaves
Flexible Spending Arrangement
Commuter Value Pass
For full details of the benefits offered by the City of Milwaukee, please visit https://city.milwaukee.gov/der/benefits.
Selection Process
THE SELECTION PROCESS will be job related and will consist of one or more of the following: an evaluation of related education, experience and accomplishments, written tests, interview, or other assessment methods. The Department of Employee Relations reserves the right to call only the most qualified candidates to oral, performance tests or personal interviews. Information from the selection process will be used to make a hiring decision. Selected candidates will be transferred and/or promoted to the position.
INITIAL FILING DATE – The selection process will be held as soon as practical after the deadline listed above. Receipt of applications may be discontinued at any time after this date without prior notice. However, recruitment may continue until the needs of the City have been met. Qualified applicants will be notified of the date, time, and place of the selection process components. Unless otherwise required by law, the City of Milwaukee will not provide alternative administration of any phase of the selection process. The applicant is responsible for attending all phases of the job selection process at the time and place designated by the City of Milwaukee.
Additional Information
APPLICATIONS and further information can be accessed by visiting www.jobapscloud.com/MIL.
If you would like assistance completing an application, please contact the Department of Employee Relations at (414) 286-3751 or [email protected].
The Department of Employee Relations is in City Hall, 200 E Wells St, Room 706, Milwaukee, WI 53202.
Conclusion
EEO 202
The City of Milwaukee values and encourages diversity and is an equal opportunity employer.
