Lead Treasury Specialist

Job Summary

The Finance Division has the responsibility for the fiscal integrity of the North Carolina Municipal Power Agency #1 (NCMPA1), North Carolina Eastern Municipal Power Agency (NCEMPA), and ElectriCities of North Carolina, Inc. (ElectriCities). Through appropriate planning, managing, controlling, and monitoring of the financial activities of the entities the Finance Division establishes an environment that fosters fiscally sound decisions and corporate compliance to result in accurate and timely disclosure financial activities of the entities. The Finance Division is also responsible for assuring the trustworthiness and evidentiary value of all corporate records, both paper and electronic, of the entities.

Primary Responsibilities

Major Duties and Responsibilities

• Duties related to Investment Activities:
  • Daily cash flow management and forecasting for all Power Agency and ElectriCities accounts.
  • Daily management of all monies and investment securities of both short-term and long-term funds for all NCEMPA accounts, managed by receiving quotations and within established investment guidelines.
  • Daily management of all short-term funds (less than 1 year) for NCMPA#1 and for overseeing investment advisor who manages the long-term investments.
  • Maintain knowledge of requirements and restrictions of each fund and assist in ensuring that the portfolios are in compliance with governing documents. Updating and maintaining investment guidelines in a timely manner, under the direction of the Chief Financial Officer.
  • Direct the settlement of all purchases, sales and activities of investment securities between the Agencies’ brokers/dealers and/or banks.
  • Process and verify all input/output of investment activity into the investment portfolio system, conduct end-of-month summary reconciliations by fund, and interface with the Accounting Department and Management on such activity/reconciliations. Maintain information on callable bonds.
  • Utilize Bloomberg to gather data regarding paydowns for each Mortgage-Backed security in the portfolio, and other security needs.
  • Monitor investment portfolio system reports to ensure accuracy of portfolio information by identifying and resolving errors and reporting problems to the vendor, following up to make sure problems are resolved.
  • Lead in the development of monthly, quarterly and annual Treasury Department reports.
  • Direct and monitor the department administrative assistant or other responsible party in processing, verifying, and filing of all investment confirmation tickets received.
  • Verify, review, and monitor underlying collateral for repurchase agreements with broker/dealers.
  • Administer all wire/transfers, transfers between accounts, ACH, EFT and other daily cash transactions utilizing proprietary banking software and monitor cash balances in all of the Agencies’ accounts daily. This includes:
    • Establish repetitive wires, transfers and ACH with the banks/concerned parties, revising when necessary. Maintain bank connected systems.
    • Contact and set up vendors/participants for electronic payments, maintain changes and resolve problems.
  • Price investment portfolio monthly with current market prices using FT InterActive Data pricing service.
  • Establish bank accounts and trust accounts for custody of monies as required and maintain good relationships with the various banking institutions.
  • Research, identify, and coordinate the correcting of bank and/or broker/dealer errors in the delivery of investment securities in a timely manner. Monitor and take actions to minimize bank fees. Monitor safekeeping activity and account analyses to ensure accuracy of reported transactions and resolve errors.
  • Develop and maintain relationships with brokers. Maintain signatures/authorized officers with the appropriate parties to all agreements.
  • Review new services/products offered by brokers/banks and provide recommendations to leadership regarding how best to address any potential changes.
  • Provide reports and information as requested to accounting department, auditors, Chief Financial Officer and our attorneys.
  • Direct the creation and submission of compliance reports to Trustee Banks and others.
  • Prepare the annual Investment Management reports/presentations for ElectriCities, NCMPA#1 and NCEMPA in collaboration with our investment advisor.
• Duties related to Debt Activities:
  • Prepare, verify and execute the interest and/or principal payments to Bond Trustee and various fee payments on outstanding debt of each Agency. Prepare and maintain semiannual debt service schedules for bonds. Update debt service schedules after bond issuance. Maintain debt information in our debt management system, assimilating data from new bond issues.
  • Prepare, verify and execute the interest payments for the variable rate securities, interest rate swap agreements and lines of credit. Develop and maintain any necessary spreadsheets.
  • Provide updated debt information as necessary to all internal ElectriCities departments and outside parties.
  • Maintain additional data to monitor all debt of the Power Agencies.
  • Process inquiries from bondholders and investors regarding lost bonds/interest payments/called bonds, etc., ensuring prompt and satisfactory resolution of any principal/interest payment by bond fund trustees.
  • Respond to inquiries from investors/brokers/analyst regarding the Agency or the Agency’s debt.
  • Review and process necessary documentation regarding lost securities and then provide authorizations for replacement or payment.
  • Assist in the preparation and execution of debt issues and coordinate the necessary transfers to facilitate bond closings and monitor cost of issuance.
  • Work with Bond Tax Counsel on arbitrage rebate and yield restriction calculations for each bond issue, as required by Federal Tax Regulations by providing investment activity and interest reports as well as other data necessary to accurately file required tax forms Prepare, develop and coordinate with the various financial, legal and engineering consultants in the preparation of Preliminary and Official Statements for the issuance of debt to refinance existing outstanding debt or to finance agency projects.
  • Maintains knowledge of ElectriCities and Power Agency issues for monitoring continuing disclosure requirements and work with the Finance team to ensure posting to the Electronic Municipal Market Access (EMMA) in a timely manner.
• Other duties
  • Monitor internal/external issues related to changes related to investments/debt best practices and make recommendations to Chief Financial Officer of any improvements/changes needed to ElectriCities’ processes.
  • Lead in the development of a succession plan for the Treasury function to prepare for eventual changes in staffing.
  • Monitor, review and submit for approval, bank fees and expenses and other Treasury related invoices, including the input of Purchase Requisitions for such invoices.
  • Work with the Finance team to provide future interest rates for Power Agency budgets. Recommend investment income projections and debt service and other treasury-related agency expenses for Power Agency budgets.
  • Direct the preparation of treasury department items for ElectriCities budget.
  • Prepare and file semi-annual reports for the Local Government Commission, as required by State Statutes, regarding investments. Prepare Annual INV-91 Notification of Public Deposit report and file with the Department of State Treasury. Prepare other necessary reports relative to treasury operations.
  • Work with auditors to provide necessary Treasury information, including tables for the Notes to Financial Statements related to investments.
  • Develops and ensures preparation of various treasury related reports as required.
  • Perform other duties as assigned.
  • Lead in the development of a document retention process to ensure historically relevant, business sensitive Treasury documents are captured and maintained within ElectriCities’ document retention file system(s).
  • Foster an environment of teamwork to effectively coordinate with the ElectriCities’ departments and personnel providing any enhancements that may be needed.

Controls

The Lead Treasury Specialist works under the general supervision of the Chief Financial Officer, who reviews the individual’s work performance periodically in terms of overall effectiveness and provides professional and administrative guidance as needed. The Chief Financial Officer approves vacations and other time off. This position is exempt from the overtime provisions of the Fair Labor Standards Act.

Job Requirements

Physical Requirements

The Lead Treasury Specialist must maintain the physical condition necessary to perform tasks in an office setting such as operating a personal computer, keyboard, and other peripheral equipment. Occasional travel is required to other NC office locations or other NC locations for business development purposes. Travel may also be required for training and development purposes.

Qualifications

• A bachelor’s degree in accounting, finance or a related field and/or at least ten years’ cash management, treasury, and/or accounting experience.
• Proficiency in the MS Office Suite and prior experience with investment, debt, and banking systems or applications.
• Demonstrated ability to investigate, assess and learn new technologies and direct the successful adoption and implementation.
• Exceptional attention to detail and organizational skills.
• Demonstrated ability to analyze problems quickly and work under critical time frames.
• Willingness to assume accountability and work independently with only general guidance.
• Excellent communication skills and the ability to collaborate effectively with all levels of the organization and outside sources.

About ElectriCities

ElectriCities of North Carolina, Inc., is the membership organization that provides power supply and related critical services to over 90 community-owned electric systems in North Carolina, South Carolina, and Virginia—collectively known as public power. ElectriCities manages the power supply for two power agencies in North Carolina and provides technical services to assist members in operating their electric distribution systems. ElectriCities also helps these locally owned and operated public power providers thrive today and in the future by delivering innovative services, including legislative, technical, communications, and economic development expertise.

We offer challenging and rewarding careers in a family-friendly culture, a competitive compensation, benefits, and rewards package, as well as career development opportunities. ElectriCities is an Equal Opportunity Employer

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