City of Detroit

About City of Detroit

The City of Detroit is accepting applications for a Financial Analyst IV in the Office of the Chief Financial Officer, Treasury- Debt Management Branch. The Financial Analyst IV conducts advanced semi-complex analysis and provides recommendations based on the results of the analysis conducted. EXAMPLES OF DUTIES: Develop and maintain thorough knowledge of existing City of Detroit debt: Year issued, purpose, size, method of sale, type of security, etc. for each bond issue Flow of funds for each bond issue Process for payment of debt service or drawdown of debt for each bond issue, including roles of professionals (e.g., trustee, fiscal/paying agent, escrow agent, etc.) Terms of bond/trust indentures, pledge and intercept agreements, continuing disclosure undertakings, non-arbitrage and tax compliance certificates, etc. Develop and maintain thorough knowledge of federal tax and securities laws, state laws, and charter requirements related to the issuance of municipal securities Develop and maintain a high proficiency in Treasury's Sympro Debt Management Module, which is the City of Detroit's system of record for debt. Must be fully crosstrained to provide backup to Financial Analyst III when needed Assist Debt Manager in the development and execution of Standard Operating Procedures (SOP) for debt-related functions that may involve other divisions and departments, e.g., Monitoring Use of Bond Proceeds, Updating Master Facilities List, etc. Support from start to finish: consideration of proposal by City Council, selection of financing team, preparation of preliminary official statement, obtaining credit ratings, marketing to investors, pricing, and closing Review closing memorandum/coordinate with Treasury's cash management, investments, etc. Prepare mapping of accounting and ensure establishment of general ledger accounts and set-up of budget o Review transcripts to identify debt covenant and reporting requirements (setaside, continuing disclosure, and other requirements) Identify resulting budget requirements and coordinate with Budget Office Manage debt millage model and its utilization in setting debt millage rates and in analyzing proposed bond issues Prepare annual Qualified Status application for review by Debt Manager (annually) Monitor debt covenants and reporting requirements Track the intercept or transfer of revenues (e.g., debt millage revenues, state revenue sharing, Michigan transportation fund revenues) and the applicable setaside requirements Track and prepare reporting required under continuing covenant and loan agreements Prepare and analyze debt-related information and coordinate the collection of economic, demographic, and financial information for various uses including: Reporting of debt metrics required under CFO Debt Policy Preparation of information concerning the city included in appendices to official statements o Execution of continuing disclosure requirements Preparation of rating agency presentations Investor relations Monitor use of bond proceeds and meeting of federal arbitrage rebate requirements Report cash balances on a monthly basis Interact with Budget Office regarding planned spending o Monitor spending exceptions Arbitrage reporting Monitor draw schedule Monitor investments (with investment division) Record retention FA IV will act as primary interface with Office of Budget Prepare various reports to be provided to auditor ("PBCs") at year-end such as lists of debt covenants, debt covenant violations, new debt agreements, schedules of unspent bond proceeds, disclosure describing the issuance of new debt, etc. Other duties as assigned MINIMUM QUALIFICATIONS: Education For all Financial Analysts it is a requirement to have completed a bachelor's degree from an accredited college or university, with major course of work in accounting, business, public administration, or a closely related field. Such education must include at least twenty-four (24) semester (36 terms) credits of coursework in accounting, finance, or economics. Experience For selection, appointment to a Financial Analyst level IV, in addition to the minimum education requirements, more progressive levels of experience are required based on the following: Financial Analyst IV – at least four (4) years of experience SUPPLEMENTAL INFORMATION: Things you'll like: The City of Detroit offers a competitive and comprehensive employee benefit package including health, dental, and vision benefits, generous paid time off, free/reduced parking, defined benefit pension plan, and 50% Employee Discount on Homes Purchased from the Detroit Land Bank's Housing Auction Program Things you'll love: World-class training that promote life-long learning and development Tuition discounts from educational partnerships Vast array of career opportunities Ability to drive social impact at the community level Ability to contribute to the success of the City of Detroit Evaluation Plan: Interview: 70% Evaluation of Training, Experience & Personal Qualifications (TEP): 30% Total of Interview and Evaluation of TEP: 100% Detroit Residency Credit: 15 pts. Veteran Points: 0-15 pts.

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Company Type: Government

Company Size: 5001 - 10000

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