Job description
The City of Tacoma recently completed a classification and compensation study for its non-represented positions, including this one. Effective January 2, 2023, the new salary range for this position is $139,484.80 to $196,372.80.
THE POSITION
The City Treasurer has three main areas of responsibility:
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Providing treasury services for all City Departments
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Managing the City’s debt portfolio of approximately $870 million in utility debt and $590 million in general government debt
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Managing the City’s short-term cash investment portfolio of approximately $1 Billion
In addition, the City Treasurer provides other critical functions for the City including:
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Leading and providing guidance on maintaining and improving the City’s credit rating
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Being a key leader on the team working on the City’s Payment Card Industry (PCI) compliance
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Assisting all City departments with their cash handling needs
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Managing the City’s disclosure and post-issuance compliance policy
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Maintaining collaborative relationships with internal and external stakeholders
The City Treasurer is part of the Finance Department’s leadership team and works closely with all other divisions within the Finance Department. The City Treasurer also interacts with other city departments in numerous capacities as described above. This position works directly with external partners including bankers, bond counsel, underwriters, investment advisors, financial advisors, and community members. This position reviews financial and economic data and provides debt and cash investment strategies.
Key responsibilities related to Treasury Services include:
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Managing the City’s banking services, banking accounts, cash handling processes, merchant/credit card services, armored car services, and lockbox processing,
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Maintaining good relationships with the City’s banks
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Working closely with other City Departments on cash handling procedures and internal controls for cash handling
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Is a key leader on the City’s PCI Compliance efforts
Key responsibilities related to Debt
Management
include:
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Managing the City’s debt portfolio including analyzing financing structures for financial soundness, covenant compliance, compliance with laws, policies and regulations, analyzing opportunities to optimize the City’s debt profile
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Determining and recommending optimum bond issue size, maturity, call schedules to maximize financial flexibility, development of the City’s debt official statements, including disclosure decisions, overseeing development of materials and presentations to bond rating agencies
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Managing the administration of all debt service activities including determination of payments, investor relations, rating agency relations, cash available for bond calls, and post-issuance compliance
Key responsibilities related to
short-term
Cash
Investment
Management include
:
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Managing the City’s short-term Cash Investment Portfolio pursuant to state law, the City’s Charter, the City’s Investment Policy and best practices
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Modeling cash flow requirements to ensure appropriate liquidity to meet City cash flow needs
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Managing the administration of all cash investment activities, risk and duration assessments, and relations with the City’s cash investment advisor
THE IDEAL CANDIDATE
:
The ideal candidate needs to be a critical thinker who can identify challenges, opportunities and move the organization forward. The individual must possess strong management skills to ensure programs and services are delivered effectively and efficiently, that problems get resolved, and details are appropriately covered. The ideal candidate will be an effective leader of people with the demonstrated capacity to energize and develop staff, a passion for encouraging professional growth, and building organizational capacity. The following are the key competencies of the ideal candidate:
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Collaboration?– Building partnerships to bring people together to leverage their skills, talents and knowledge to achieve a common purpose. Has the ability to maintain effective working relationships with both internal and external stakeholders such as with management of the various City departments, elected officials, employees, bankers, advisors, bond counsel, underwriters and citizens.
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Problem -Solving and Strategic Mindset – Looks and plans ahead for future possibilities then works to translate them into actionable strategies. Demonstrates the ability to manage financial operations; perform in-depth analyses and research; possesses the skill to identify the root-cause of problems then develop innovative solutions to solve those problems.
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Financial Acumen - Interpreting and applying understanding of key financial indicators to make better business decisions. Finance is at the core of all functions of the City and it is critical to keep a laser focus on financial matters as a steward of the City’s financial health.
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Drives Results – Consistently achieves results, even under tough circumstances. Possesses a growth mindset and has a bias toward action. Improves and sustains superior business performance; ability to manage competing priorities effectively; makes financially-sound decisions.
QUALIFICATIONS:
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A Bachelor’s degree in Business Administration, Accounting, Finance, Economics, or directly related field. A Master’s degree is a nice addition. An equivalent combination of education, training and experience that demonstrates knowledge, skills, abilities, and the critical thinking necessary to perform the job at the highest level may be considered.
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Candidates must have at least 8 years of high level treasury or finance management related positions, preferably in government finance and have managed staff.
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Candidates must have direct experience managing treasury services for a complex organization, issuing a variety of types of debt, analyzing and structuring debt refunding, and managing cash investments in a portfolio over $100 million.
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Technical knowledge in government finance, experience issuing a variety of complex debt instruments, and experience with various short-term cash investment strategies is strongly preferred.
KNOWLEDGE & SKILLS:
SELECTION PROCESS & SUPPLEMENTAL INFORMATION:
City of Tacoma Commitment to Diversity and Inclusion
Tacoma's diversity is its greatest asset. Tacoma embraces its multi-cultural and multi-ethnic character. Communities of color and immigrant communities are fundamental to Tacoma's entrepreneurial spirit, workforce, and long-term success. In Tacoma, equity and empowerment are top priorities, meaning that all Tacoma residents must have equitable opportunities to reach their full potential and share in the benefits of community progress. One of our goals is for the City of Tacoma workforce to reflect the community it serves. We actively work to eliminate racial and other disparities and welcome candidates with diverse backgrounds and/or multicultural skill sets and experiences. Our goal is for Tacoma to be an inclusive and equitable place to live, work, and play.
The City of Tacoma is an Equal Opportunity Employer and values diversity in its workplace. Applicants are considered for positions without regard to race, color, religion, sex, national origin, ancestry, age, marital or veteran status, disability, sexual orientation, gender identity, or any other basis prohibited by federal, state, and local laws.
Why work for the City?
The City of Tacoma provides excellent medical, dental and vision benefits for the whole family; paid holidays and personal time off; participation in Tacoma's Public Employees' Retirement System and a growing variety of City-sponsored health and wellness opportunities.
For more information on the City of Tacoma's benefit package feel free to explore City of Tacoma Benefits.
Appointment is subject to successful completion of a background check.
Tacoma's diversity is its greatest asset. Tacoma embraces its multi-cultural and multi-ethnic character. Communities of color and immigrant communities are fundamental to Tacoma's entrepreneurial spirit, workforce, and long-term success. In Tacoma, equity and empowerment are top priorities, meaning that all Tacoma residents must have equitable opportunities to reach their full potential and share in the benefits of community progress. One of our goals is for the City of Tacoma workforce to reflect the community it serves. We actively work to eliminate racial and other disparities and welcome candidates with diverse backgrounds and/or multicultural skill sets and experiences. Our goal is for Tacoma to be an inclusive and equitable place to live, work, and play.
The City of Tacoma is an Equal Opportunity Employer and values diversity in its workplace. Applicants are considered for positions without regard to race, color, religion, sex, national origin, ancestry, age, marital or veteran status, disability, sexual orientation, gender identity, or any other basis prohibited by federal, state, and local laws.
Why work for the City?
The City of Tacoma is nestled along the shores of Commencement Bay in Washington State and offers many community parks, miles of beautiful waterfront, hiking & biking trails, golf courses, museums, and a world-class zoo with an aquarium. Tacoma also serves as a gateway to some of the most magnificent natural wonders in the world, such as Puget Sound, Mount Rainier National Park and the Olympic Peninsula.
The City of Tacoma provides excellent medical, dental and vision benefits for the whole family; paid holidays and personal time off; participation in Tacoma's Public Employees' Retirement System and a growing variety of City-sponsored health and wellness opportunities.
For more information on the City of Tacoma's benefit package feel free to explore City of Tacoma Benefits.
To be considered for this career opportunity:
Interested individuals should apply online and attach a detailed resume and cover letter describing your experience, training, and expertise as it relates to the responsibilities of this position. Please answer all supplemental questions fully. Applications received without all the requested materials may not progress in the selection process.
Appointment is subject to successful completion of a background check.
Communication from the City of Tacoma:
We primarily communicate via e-mail during the application process. E-mails from Cityoftacoma.org and/or neogov.com must be placed on your safe domain list to ensure that you receive notifications in a timely manner. As a precaution, you may also want to check your junk e-mail folders.
The online application system requires you to enter a substantial amount of information. Be prepared to spend an hour or more entering the required information. In order for your application materials to be considered, all information must be submitted by the closing date and time listed on this job announcement.
For assistance with the application process or questions regarding this job announcement please contact Human Resources at (253) 591-5400 by 4:00 pm on the closing date. This will allow us to assist you before the job announcement closes.
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