Job Description

Position Description


Work, Serve, Thrive. With the City of Durham
Advance in your career while making a real difference in the community you serve. Hiring Range: $65,075.00 - $100,879.00
Hours: 8:00a - 4:30p
Join one of the highest fiscally rated entities in the country. The City of Durham\xe2\x80\x99s Finance Department promotes sound management and stewardship of taxpayer dollars by helping the City Council, City Manager and City departments manage their financial resources and leading risk management administration and training. If sound fiscal management is what you\xe2\x80\x99re about, join our team!

The Debt Manager serves as the debt Subject Matter Expert and manages the long-term debt activities for the City which includes approximately $672 Million in outstanding debt resulting from several individual financing series issued for general governmental and enterprise purposes.

Duties/Responsibilities

• Manages City\xe2\x80\x99s long-term debt portfolio in accordance with Federal, State, and Local regulations.
• Manages accounting and/or financial procedures in debt management, including but not limited to debt projections, bond sales, and bond arbitrage, lease/purchases while ensuring appropriate controls are achieved.
• Ensure timely and accurate (1) payment of debt service and (2) filing of SEC mandated debt information to comply with associated Bond Covenants and maintain the City\xe2\x80\x99s AAA credit rating.
• Develop and maintain debt models, which include the use of third party consultant services and software technology platforms, for the use by management in long-term planning for debt-related funding of City\xe2\x80\x99s capital needs.
  • Duties also include consulting and advising City management and departments on upcoming future debt issuances, specifically advising on the optimal timing and financing structure which best meets their needs.
  • Analyze and maintain project level cash flow schedules associated with debt-related financing.
  • Analyze debt appropriated capital expenditures and review / approve eligible bond reimbursements.
  • Prepare annual debt service expenditure budgets.
  • Maintain and timely update debt service software platforms for the City\xe2\x80\x99s outstanding debt portfolio.
• Prepare and maintain debt-related schedules to be included in City\xe2\x80\x99s Annual Financial Report.
• Monitor municipal bond market and collaborate with industry partners to identify potential refunding opportunities which could save money for the City/taxpayers due to reduced debt service costs.
• Participates / leads meetings on City financings and reviews legal financing documents and coordinates and/or completes required City actions.
• Perform related ad hoc financial and debt analyses upon request.
• Performs other duties of a similar nature and level as assigned.

• Expert level familiarity with all types of municipal debt financings including Revenue Bonds, General Obligation Bonds, 2/3 General Obligation Bonds, Limited Obligation Bonds, Certificates of Participation, Installment Financing Agreements, Bank Loans and State Issued Revolving Loans.
• Ability to collaborate with departments to effectively monitor new debt finance needs; advise on optimal timing and structure for debt financings.
• Ability to drive entire debt financing process from initial document review through closing of deal; provide debt information and City metrics for Bond documents; manage process for any required Council approved actions; ensure timely execution on Bond document by all required City officials.
• Ability to collaborate with Arbitrage Consultant, if appropriate, to calculate and prepare required Arbitrage reports and make Arbitrage Rebate payments to IRS if necessary.
• Manage the timely spend down of bond proceeds through timely reimbursement of eligible debt appropriated capital expenditures; collaborate with respective departments on aged bond proceeds.
• Maintain and update debt service models; perform ad hoc financial and debt analysis expeditiously which at times requires collaboration with department, financial institutions, and/or Bond Counsel.
• Ability to timely and accurately file necessary bond compliance items to online information repository, Bond Trustee and Underwriting Banks.
• Ensure City maintains its AAA bond credit rating through timely and accurate payment of all debt service and debt related fees.
• Knowledge of government budget principals including monitoring of budgeted capital projects appropriated with the use of bond proceeds and to track capital expenditures to support bond reimbursements.

• Bachelor\xe2\x80\x99s degree or equivalent in business or public administration, or directly related field
• Five years of professional experience that includes direct experience with debt management.
• Working knowledge of Spreadsheet software, Word Processing software, and enterprise-wide databases and other technology systems.

• Experience with public finance and/or municipal debt management