07/01/1993 08995

EXECUTIVE DIRECTOR PENNVEST

DEFINITION:

This is highly responsible professional and managerial work in the field of infrastructure financing applied to drinking water, wastewater and storm water systems as Executive Director of the Pennsylvania Infrastructure Investment Authority (PENNVEST).

The employee in this class directs, coordinates, implements and evaluates the financial, technical, legal, public information and administrative programs of the Pennsylvania Infrastructure Investment Authority in order to fund eligible infrastructure projects. Work involves developing and recommending rules, regulations, policies and procedures to the Board of Directors and implementing those approved by the Board. A significant aspect of the position involves managing the agency's financial resources including the issuance of revenue bonds and coordinating the issuance of General Obligation bonds and the use of these proceeds in processing payments to borrowers and reviewing payments as they are made with the Office of the Budget. Work includes directing and coordinating the review of all financial assistance applications from a technical, legal and financial viewpoint through staff assigned to the Departments of Environmental Resources, Commerce and Community Affairs as well as private consulting firms and staff of the Pennsylvania Infrastructure Investment Authority. Work also includes reviewing, evaluating and synthesizing the technical, legal, and financial analyses of applications to develop recommendations to the Board and developing policies and procedures and modifying program regulations to deal with the impacts of changing Federal tax codes and other state and federal legal requirements on the agency's programs and ability to fund projects. Work involves serving as the principal liaison between the Board of Directors; the Departments of Environmental Resources, Commerce, Community Affairs and Budget; the Environmental Protection Agency; Congressional representatives, state legislators and municipal officials; facility owners and operators; and the national and local public finance community and special interest groups. Supervision is exercised over a professional, technical and administrative staff. Work is performed with a high degree of independence subject to policy direction by the Board of Directors of the Pennsylvania Infrastructure Investment Authority.

EXAMPLES OF WORK:

Directs the programs and operations of the Pennsylvania Infrastructure Investment Authority.

Serves as the principal liaison between the Board of Directors; the Departments of Environmental Resources, Commerce, and Budget; the Environmental Protection Agency; Congressional representatives, state legislators and municipal officials; facility operators; and the national and local public finance community and special interest groups by providing information on the functions and financial status of the Authority, loan eligibility requirements, procedures for applying for loans and on other programs and policies of PENNVEST.

Develops and recommends rules, regulations, policies and procedures to the Board of Directors, and implements those rules, regulations, policies and procedures adopted by the Board.

Evaluates the operation of the Pennsylvania Infrastructure Investment Authority's Financial Assistance Program and implements program changes and improvements as necessary.

Directs the issuance of agency revenue bonds to obtain financing as needed to fund eligible projects.

Coordinates with the Office of the Budget and the Environmental Protection Agency on the provision of Commonwealth and federal funds to finance eligible projects.

Coordinates with financial advisors, bond counsel and other professionals on compliance with federal tax rules and regulations involving the issuance of agency and Commonwealth bonds and other issues affecting the agency's funding sources.

Directs and coordinates the review of financial assistance applications submitted to the Board through assignments to staff assigned to the Departments of Environmental Resources and Commerce, the Pennsylvania Infrastructure Investment Authority and private consulting firms to obtain technical, financial and legal recommendations.

Prepares recommendations to the Board of Directors regarding the assignments of priorities to financial assistance applications within each category and recommends approval or disapproval of financial assistance applications, recommends funding levels for applications within each category.

Develops the agency's operating budget and approves expenditures charges to this budget; monitors all funds assigned to the Authority, including appropriations, revenue and general obligation bond proceeds and federal funds.

Monitors loan payments to applicants and their repayments to the Authority, and researches and implements methods to recoup payments from problem loans.

Monitors interest earned by fund monies, prepares reports outlining the fiscal condition of funds and operating budgets and actions which should be taken.

Prepares agendas for Board meeting and directs the scheduling and arrangements for Board meetings.

Directs the development and publication of information reports, brochures and newsletters to inform legislators, interest groups and the public on Authority operations and programs.

Directs the planning of, and participates in, public speaking events that highlight the accomplishments of the program.

Actively participates in national organizations to represent the interest of the Authority in the drafting of federal policies and legislation, including testifying before congressional committees and federal agencies.

Supervises a professional, technical and administrative staff.

Performs related work as required.

REQUIRED KNOWLEDGES, SKILLS, AND ABILITIES:

Knowledge of the programs and functions of the Pennsylvania Infrastructure Investment Authority.

Knowledge of the principles and practices of public finance, particularly with regard to the issuance of bonds and their credit security and tax implications.

Knowledge of the financing needs of water, wastewater and stormwater systems.

Knowledge of applicable Federal and state laws, rules, regulations, policies and procedures relating to the financing of water supply, waste water and stormwater systems.

Knowledge of current problems and issues involving community water supply, wastewater and stormwater systems.

Ability to express ideas clearly and concisely, orally and in writing.

Ability to develop rules, regulations, policies and procedures to administer the functions of the Pennsylvania Infrastructure Investment Authority and to develop strategies and programs to account for changes in federal and state environmental and financial laws and regulations that affect the Authority and its borrowers.

Ability to read and interpret Commonwealth and Federal rules, regulations, policies and procedures.

Ability to plan, organize and assign work to subordinates.

Ability to supervise professional and administrative employees effectively.

Ability to establish and maintain an effective working relationship with Board Members, representatives of state and Federal agencies, state and local public officials, the public finance community, and owners and operators of water supply, wastewater and stormwater systems.

MINIMUM EXPERIENCE AND TRAINING:

Eight years of progressively responsible experience in public finance management and administration with at least two years specialization in environmental programs and which included three years of supervisory experience and a bachelor's degree in an engineering, public health, public administration or closely related public finance or environmental field;

                                                                                                                                               or

Any equivalent combination of experience and training.