County of Alameda

DESCRIPTION

Under general direction, monitors and implements investment decisions and executions for County funds, performs professional projection analysis; assists the Treasurer-Tax Collector and Assistant Treasurer in the formulation, evaluation, and implementation of investment policies, guidelines, asset allocation, risk management, and investment operations strategies and in planning short and long-term financing programs of the County and evaluation of alternative financing products. Performs other related duties as required.

DISTINGUISHING FEATURES

This is a one-position classification located in the Treasurer and Tax Collector Department, which reports directly to the Treasurer-Tax Collector. Develops the Treasurer’s annual investment policy and develops and directs the investment strategy for the investment of “idle funds” in the County treasury. Manages the Treasurer’s Investment Pool and is responsible for maximizing interest earnings on investable funds within the prescribed guidelines of the Treasurer’s Investment policy, requirements under the Government Code of the State of California, and prevailing economic conditions that affect the debt markets. This classification of Chief Investment Officer – Treasurer’s Department is distinguished from the next higher class of Assistant Treasurer in that the latter is responsible for the general administration of all Treasury functions.

EXAMPLES OF DUTIES

NOTE: The following are the duties performed by employees in this classification. However, employees may perform other related duties at an equivalent level. Each individual in the classification does not necessarily perform all duties listed.

1. Keeps informed on current conditions in the capital/credit markets, on the projected direction of interest rates, and on legal requirements relating to County investment matters.

2. Performs credit analysis of debt issues of issuer corporations to assess credit risk and to assure propriety for purchase for the treasurer’s investment pool.

3. Develops and maintains an automated cash-flow projection system to determine and fund liquidity requirements of operating agencies.

4. Executes daily investment transactions and supervise timely settlement of all trades. Supervise the process to ensure that all maturity proceeds and periodic interest due are accurately calculated and credited to the County’s bank account.

5. Monitors all interest receivables from long-term investments in government and federal agency securities and corporate bond issues. Reviews the recorded interest received for timeliness and accuracy.

6. Reviews daily investment reports of purchases, maturities, sales, and investment status report for accuracy.

7. Prepares monthly investment report to the Board of Supervisors and the Treasury Oversight Committee.

8. Controls documentation, security procedure, and timely execution of all incoming and outgoing electronic wire transfer of funds.

9. Acts as direct liaison between the Treasurers’ Department and the custodial bank; supervises the reconciliation of custodial bank monthly asset holdings statements with the County’s Investment Status Report.

10. Acts as direct liaison between the Treasurer’s Department and internal auditors and Grand Jury auditors with regard to all audits of the investment pool.

11. Provides staff support and liaison to the Treasurer’s Oversight Committee.

12. Provides all requested information and communication between Treasurer’s Department and participating public agencies in the investment pool on matters relating to all investment issues and activities. Ensures that all participants receive applicable investment reports.

13. Supervise and review the daily calculation of investable cash and/or operating cash needs; and ensures that the County’s bank account has sufficient cash balance to meet cash disbursements.

14. Ensures that investment securities are compliant with the County’s Investment Policy and State law.

15. Works with the Treasurer in developing investment strategies and allocating investment maturities to meet operating cash needs of all operating agencies while maximizing investment returns.

16. Review and analyze research reports on money market funds for eligibility for purchase for the investment pool.

17. Prepares quarter and annual market valuation of the Treasurer’s Investment portfolio. Prepares the annual fair market value adjustment of the investment portfolio in compliance with the reporting requirements of the Government Code and GASB 31.

18. Allocates quarterly interest payments to all participating funds based on the funds’ average daily cash balances.

19. Ensures that the annual ordinance that authorizes the delegation of investment authority from the Board of Supervisors to the County Treasurer is accomplished; prepares the Annual Investment Policy.

20. Makes recommendations to the Treasurer for inclusion or termination of securities brokers and dealers with whom the Treasurer conducts investment transactions.

21. Prepares various types of statistical reports relating to investment and cash pool data upon request from the Treasurer, Assistant Treasurer, Auditor-Controller, County Administrator, Board of Supervisors, and/or participating agencies.

22. Participates in special projects and creates presentations.

MINIMUM QUALIFICATIONS

Education:

Possession of a bachelor’s degree (120 semester units or 180 quarter units) from an accredited university or college in Business administration, Economics, Finance, Accounting or other closely related field.

AND

Experience:

The equivalent of five years of increasingly responsible full-time experience in investment portfolio management.

NOTE: The Civil Service Commission may modify the above Minimum Qualifications in the announcement of an examination.

KNOWLEDGE AND SKILLS

NOTE: The level and scope of the following knowledge and abilities are related to duties listed under the “Examples of Duties” section of this specification.

Knowledge of:

• Understanding of Capital and Debt Markets.
• Principles of debt securities and uses.
• Institutional banking.
• Government Code provisions controlling public agency investments.

Ability to:

• Calculate mathematics of investments accurately.
• Manage and maintain securities custodial relationship for accurate County funds.
• Communicate both oral and verbal messages clearly and accurately.
• Use computer programs and databases for analysis and presentation of information.
• Accurately assess risk/reward when making investment decisions.

CLASS SPEC HISTORY

KU:pf 11/15/01
Newspecs: 0170.doc
CSC Date: 12/5/01
DRH:cs Revised/Retitled 05/15/12
Old Title: Investment and Cash Management Officer
CSC Date: 6/13/12
DR:jf Revision 3/9/17
CSC Date: 4/12/17

BENEFITS

Alameda County offers a comprehensive and competitive benefits package that affords wide-ranging health care options to meet the different needs of a diverse workforce and their families. We also sponsor many different employee discount, fitness and health screening programs focused on overall well being.  These benefits include but are not limited to*:

For your Health & Well-Being

• Medical – HMO & PPO Plans
• Dental – HMO & PPO Plans
• Vision or Vision Reimbursement
• Share the Savings
• Basic Life Insurance 
• Supplemental Life Insurance (with optional dependent coverage for eligible employees)
• Accidental Death and Dismemberment Insurance 
• County Allowance Credit
• Flexible Spending Accounts - Health FSA, Dependent Care and Adoption Assistance
• Short-Term Disability Insurance
• Long-Term Disability Insurance
• Voluntary Benefits - Accident Insurance, Critical Illness, Hospital Indemnity and Legal Services
• Employee Assistance Program

For your Financial Future

• Retirement Plan - (Defined Benefit Pension Plan)
• Deferred Compensation Plan (457 Plan or Roth Plan)

For your Work/Life Balance

• 12 paid holidays
• Floating Holidays
• Vacation and sick leave accrual
• Vacation purchase program
• Management Paid Leave**
• Catastrophic Sick Leave
• Group Auto/Home Insurance
• Pet Insurance
• Commuter Benefits Program
• Guaranteed Ride Home
• Employee Wellness Program (e.g. At Work Fitness, Incentive Based Programs, Gym Membership Discounts)
• Employee Discount Program (e.g. theme parks, cell phone, etc.)
• Child Care Resources
• 1^st United Services Credit Union 

*Eligibility is determined by Alameda County and offerings may vary by collective bargaining agreement.  This provides a brief summary of the benefits offered and can be subject to change.

** Non-exempt management employees are entitled to up to three days of management paid leave. Exempt management employees are entitled to up to seven days of management paid leave.