Director of Bond Finance (#MABZ36)
$78,541.00 Yearly Min / $98,176.00 Yearly Mid / $117,811.00 Yearly Max

The class incumbent is responsible for overseeing, coordinating and analyzing statewide debt issuance activities and for providing recommendations and strategies on statewide public finance policy issues.

Manages the following bond initiatives:

• General Obligation bond sales of approximately $300 million/year.
• Land and Water Conservation Trust Fund bond sales totalling $50 million.
• Certificates of Participation financing $25 million/year.

Oversees and provides guidance on the following bond initiatives:

• DE Transportation Authority:  $100-200 million/year.
• DE State Housing Authority: $80-100 million/year.
• Other Authority bond initiatives for the Delaware Health Facilities
• Authority and Delaware Solid Waste Authority: $50-200 million/year.
• Local government bond issues upon request.

The incumbent reports to the Secretary of Finance, who provides general guidance and policy direction on the work to be accomplished. Other positions reporting in at this level are the Directors of Revenue, Accounting, Lottery and the Bureau of Economics and Statistics. A significant function of the position, in addition to overseeing State and State authority bonding programs, is to provide advice on public policy issues ranging from capital budgeting/spending trends, water/waste, water authority initiatives, local government financing to debt capacity and management. The incumbent acts as resource person for the State's financial advisors providing perspective to what such initiatives mean to the State in terms of bonding capacity, implications for capital spending, revenue/fee structure, etc. The incumbent serves as the State's primary liaison with the investment community, bond counsels and credit rating agencies. A significant aspect of the work is to establish and maintain contact with county, municipal and non-profit issuers of tax-exempt bonds within the State. The incumbent in this class develops and maintain a comprehensive data base for tracking all bond issues and provides guidance to issuing agencies as they proceed toward bond sales. The incumbent must keep abreast of tax-exempt financing techniques and of Federal legislative proposals affecting tax-exempt issuers of bonds.

Essential functions are fundamental, core functions common to all positions in the class series and are not intended to be an exhaustive list of all job duties for any one position in the class. Since class specifications are descriptive and not restrictive, incumbents can complete job duties of similar kind not specifically listed here.
 

• Coordinates and manages administrative aspects of State General Obligation bond sales, certificates of participation and Land/Water Conservation Trust Fund bonds; Prepares bond prospectus; offering statements.  
      
• Serves as primary contact person for State for legal counsel, financial advisors, underwriters, credit rating agencies and legal counsel and participates in their selection process as required; Serves as liaison between debt issuers and cabinet and elected officials with bond issuing authority (Secretary of Finance, Secretary of State, Governor and State Treasurer.)
        
• Provides oversight and guidance to authorities on other bond issuances such as the Delaware Transportation Authority, Delaware State Housing Authority, Delaware Solid Waste Authority and Delaware Health Facilities Authority.
       
• Monitors local and national economic, fiscal and legislative environments to assess impact on State's debt issuing activities and public finance policy issues.  Develops and maintains comprehensive data base of relevant financial and economic information.
       
• Analyzes Statewide capital spending to provide policy makers with the framework needed to address related proposals for infrastructure finance including school construction, water/wastewater, land and water acquisition, such as decreased federal support, on State capital spending.
       
• Works with local governments and non-profit organizations, upon request, to provide technical assistance on capital finance matters, and to ensure bond issuance and usage is accomplished in accordance with legal and regulatory requirements. Researches policy issues relative to state/local government financing relationships.
    
• Conducts comprehensive studies and develops strategies related to such issues as State employee pensions, local police/firefighter pensions and debt affordability.
        
• Participates in the selection and oversees the work of consultants engaged in the analysis of public financing initiatives.

The intent of the listed knowledge, skills and abilities is to give a general indication of the core requirements for all positions in the class series; therefore, the KSA’s listed are not exhaustive or necessarily inclusive of the requirements of every position in the class.

• Knowledge of principles, practices and techniques of governmental debt management.
• Knowledge of economic principles and their application in public finance policy development and bond issuance analysis.
• Knowledge of varies economic and social issues.
• Knowledge of capital markets, conditions, trends, debt instruments, and impacts of Federal legislative initiatives.
• Knowledge of the application of various financial computer software systems in the analysis of bond issues and economic conditions.
• Skill in cash flow analysis and projections.
• Skill in the analysis of debt management practices and issues.
• Ability to interpret economic, financial and legislative issues, analyze trends and recommend courses of action.
• Ability to establish and maintain effective working relationships with public and private agency officials, industry representatives and the general public.
• Ability to communicate effectively both orally and in writing.

JOB REQUIREMENTS for Director of Bond Finance
Applicants must have education, training and/or experience demonstrating competence in each of the following areas:

1. Possession of a Bachelors degree or higher in Public Administration, Economics, Business Management, Accounting, Finance, Public Policy, or related field.
2. Three years experience in analyzing capital needs.
3. Three years experience in finance.
4. Six months experience in policy analysis which includes analyzing policies to make recommendations on the development or modification of policies.
5. Three years experience in project management which includes planning, developing, implementing, managing and evaluating projects to ensure objectives are met.
6. Knowledge of debt issuance which includes financial analysis of debt policy, market activities, domestic capital markets and capital financing options.