JOB TITLE: DIRECTOR, BUREAU OF REDEVELOPMENT, CAPITAL AND DEBT

JOB CODE: 08290

DEFINITION: This is highly responsible and advanced professional work directing the Bureau of Redevelopment, Capital and Debt in the Office of the Budget.

The employee in this job directs major components of the commonwealth capital budget, including but not limited to the Redevelopment Assistance Capital Program (RACP) and Public Improvement Program (PIP); the approval of expenditures for Furniture & Equipment Projects (FFE) and Transportation Assistance Projects (TAP); and the issuance of general obligation bonds to support commonwealth capital debt initiatives. Work involves directing the preparation and evaluation of cash flow estimates, establishing major payment schedules for capital funds, analyzing and preparing legislation concerning debt and bond issuances, analyzing the municipal bond market, preparing debt issuance schedules, and developing and preparing all materials relevant to bond issuance and tax anticipation notes. Work includes establishing and implementing RACP policies and procedures, coordinating the review, analysis, and recommendation of possible RACP and public improvement projects, ensuring that commonwealth bond and note issuances comply with federal tax regulations, fostering and maintaining a positive relationship with bond rating agencies and the investment banking community, and making recommendations on the refunding of existing commonwealth debt. Significant aspects of this work include recommending the timing and sizing of all general obligation bond sales, coordinating bond issuance documents, and advising the Secretary of the Budget on issues related to the municipal bond market and bond issuance and sales. Work is assigned in the form of overall objectives and is reviewed by an administrative supervisor or executive staff for adherence to policies and objectives.

EXAMPLES OF WORK: (NOTE: The examples of work are representative of the work, but every position classified to this job may not perform all examples of work listed. Conversely, this is not an all-inclusive list of work examples.)

• Directs the development of borrowing schedules, including timing and amount of planned general obligation bond sales and the analysis of cash flow estimates to projected borrowing needs.

• Advises the Secretary of the Budget on the current outlook of the municipal bond market, possible effects of proposed legislation on the bond market or bond issuance, the status of the financial reputation of the commonwealth, and the need for short-term borrowing or bond issuance.

• Recommends the need for deferred payment and scheduling payment of large obligations.

• Directs the development of information and methods of presentation for the improvement of the commonwealth’s credit rating and presents information to major financial institutions.

• Coordinates with the Governor’s Office and Secretary of the Budget regarding RACP matters.

• Coordinates the preparation of preliminary official statements for the execution of debt.

• Reviews and recommends selection of all public improvement projects for the Secretary of the Budget and the Governor and coordinates the release of associated funding with the Department of General Services.

• Serves as a liaison with other commonwealth agencies for capital project needs.

• Serves as a liaison with credit rating agencies, bond underwriters, investors, institutions, and others having interest or information about the financial condition of the commonwealth.

• Directs the development and drafting of materials for bond offerings in coordination with bond counsel, Auditor General, State Treasurer’s Office, and the Secretary of the Budget to ensure compliance with all applicable rules and regulations.

• Directs research and analysis on assigned special projects.

• Prepares presentations for rating agencies and other groups.

• Directs the computation of bond maturity schedules, the verification of bid accuracy, and the development of information regarding tax-free status and other factors of financial desirability for prospective purchasers of bond issues.

• Performs the full range of supervisory duties.

• The employee in this job may participate in the performance of subordinates’ work consistent with operational or organizational requirements.

• Performs related work as required.

ENTRY LEVEL KNOWLEDGES, SKILLS, AND ABILITIES:

• Knowledge of laws and regulations related to the issuance of municipal bonds.

• Knowledge of the principles and practices of budgeting.

• Knowledge of the principles and practices of administration.

• Knowledge of the principles and practices of macroeconomics.

• Knowledge of monetary practices and the banking industry.

• Knowledge of financial markets, investments, and investment procedures as related to municipal bonds.

• Ability to plan and direct work of a professional staff engaged in financial and revenue analysis.

• Ability to develop and write proposals and resolutions for bond issuance.

• Ability to analyze financial and economic reports to identify significant trends and their relation to the municipal bond market.

• Ability to establish and maintain effective working relationships.

• Ability to communicate effectively orally.

• Ability to communicate effectively in writing.

FULL PERFORMANCE KNOWLEDGES, SKILLS, AND ABILITIES: (NOTE: These are expected of an employee performing the work of this job at the full performance level. These are not used for merit system evaluation or examination purposes and are not position-specific performance standards.)

• Ability to identify, analyze, interpret, and resolve complex fiscal management issues, and design evaluation projects.

• Ability to identify operational efficiencies and improve business processes.

• Ability to develop fiscal controls and apply them to agency programs and projects.

• Ability to analyze and develop operational plans, goals, and objectives.

MINIMUM EXPERIENCE AND TRAINING: (NOTE: Based on the Entry Level Knowledges, Skills, and Abilities)

• Eight years of professional financial analysis, economics, or budgeting experience that includes or is supplemented by five years of experience involving capital cash forecasting and investments in the municipal bond market, and a bachelor's degree in economics, finance, business, or a closely related field;

or

• Eight years of professional financial analysis, economics, or budgeting experience that includes or is supplemented by five years of experience involving capital cash forecasting and investments in the municipal bond market, and four years of paraprofessional or technical experience in the field of economics or finance;

or

• Any equivalent combination of experience and training that includes or is supplemented by five years of professional financial analysis, economics, or budgeting experience involving capital cash forecasting and investments in the municipal bond market.