This class is responsible for the daily administration of the State’s cash and debt programs, as guided, defined and adopted by the Cash Management Policy Board (CMPB), the Department of Finance (DOF) and the State Issuing Officers.
Nature and Scope
The Assistant Cash and Debt Manager supports the Debt and Cash Management Division (DCM), a core divisional area of the Office of the State Treasurer (OST). A class incumbent reports to the Director of Cash and Debt Management, supports the CMPB, its sub-committees and DOF, and administers financial and operational aspects of the cash and debt programs. The scope of duties includes supporting the definition, tracking and reporting of the State’s cash management programs; participating in administrative aspects of State General Obligation sales such as amortization, payments processing, tracking and reporting; conducting assessments, analyzing and documenting Program outcomes and providers performance; interacting with banking, financial institutions, legal counsel, bond underwriters and bond holders; overseeing procurement and solicitation processes and coordinating engaged plan providers efforts to ensure delivery of quality plan services; supporting inquires and requests from active and prospective participating agencies, members of the Board, and other state organizations for the purpose of communicating and coordinating efforts; and others as directed by agency heads, division director and Boards.
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.
Assists the Division Director with strategic planning, development and implementation of existing and new programs.
Reviews, analyzes and applies federal and state laws, rules, regulations, policies and procedures to the administration of the programs and recommends revisions to governing documents as changes are anticipated.
Defines, prepares and monitors cash-flow models to effectively direct the allocation of State funds among the Collection and Disbursement Accounts, Liquidity Accounts and Reserve Accounts (collectively, Cash Accounts) pursuant to The Statement of Objectives and Guidelines for the Investment of State of Delaware Funds (Guidelines) set by the Board.
Oversees processes and implements internal controls securing the timely and accurate settlement of the State’s daily cash position which includes reconciling, troubleshooting, scheduling and contingency planning; effects wire(s) as requested to meet daily liquidity needs.
Plans, coordinates, supervises, monitors and evaluates program activities to ensure effectiveness and efficiency. Uses program performance analysis to formulate and present recommendations for improvements.
Acts as liaison between third party providers and active and prospective participating agencies and educates on eligibility, permitted requests, allowable investments, and other matters ensuring that the components of the cash and debt programs are properly communicated, are competitive with peer programs, comply with all regulatory requirements, are administered in accordance with governing documents, guidelines and processes, and that plan expenses are reasonable.
Acts as contract manager assisting in developing request for proposals to select providers, monitoring progress and performance, authorizing payments consistent with the contract terms, documenting significant events and maintaining appropriate records.
Monitors receipts, disbursements and balances of fund in deposit with the state for cash flow purposes and interest earnings income projections. Prepares reports of funds available for investment, interest earnings and special interest refunds.
Performs debt management supporting activities which include maintenance of records for authorized, unissued, reverted, abandoned and issued bond projects according to General Assembly authorizations; preparation of amortization tables for debt service of State agencies’ projects included in a bond sale; projection of cash flow requirements from capital improvement programs to inform Director of Bond Finance and/or Bond Issuing Officers regarding funding of capital projects and the timing of bond sales; administration of principal and interest payment procedures for the State's General Obligation Bonds; others as required.
Identifies school and/or other special funds on deposit with the State eligible to receive interest and calculates, distributes, records, reports and audits interest payments to ensure compliance with enabling legislation and internal procedures.
Oversees the preparation and delivery of reports in compliance with the accounting and financial requirements promulgated by the Governmental Accounting Standards Board (GASB) including, but not limited to, the standards provided for the preparation and content of the State’s Comprehensive Annual Financial Report (CAFR).
Formulates and coordinates the delivery of informative sessions, educational workshops, seminars, trainings and informational materials concerning the Plans for a variety of audiences.
Coordinates the execution of “on-demand” payments on behalf of state agencies and other organizations such as grant-in-aid, municipal street aid, fire, police, pension and special law enforcement assistance fund.
Ensures accurate accountability of funds and investment of assets in accordance with applicable service agreements and in compliance with all applicable and prescribed laws, regulations, and rules.
Supports preparation of the budget, financial statements, and audits for the Division and the programs.
Troubleshoots functional and/or technical issues affecting regular activities of the programs.
Provides administrative support for requests submitted to or by the Deputy Attorney General and/or outside legal counsel concerning various aspects of the Plans.
Knowledge, Skills and Abilities
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 applicable state, federal and departmental laws, rules, regulations, policies, procedures and processes pertaining to governance, design, development, implementation and administration of cash and debt programs.
Knowledge of Generally Accepted Accounting Principles (GAAP) established by the Financial Accounting Standard Board (FASB) and the Governmental Accounting Standard Board (GASB) and processes relevant to the preparation of accurate and timely financial statements and audit reports.
Knowledge of financial investments, principles and practices of long-term and short-term investing, portfolio construction, monitoring, and reporting strategies and risk assessment methods.
Knowledge of financial analysis, forecasting and budgeting principles, practices, methods, techniques and systems.
Knowledge of the methods and techniques of negotiating and monitoring bond paying agents and financial investment contracts.
Skill in administering financial and operational aspects of cash and debt programs.
Skill in interfacing with public, private/professional individuals, groups and organizations and maintaining effective working relationships with Board members, supervisors, associates and subordinates.
Skill in using automated information system to enter, update, modify, delete, retrieve/inquire, and report on data of the programs.
Skill in planning and coordinating marketing and delivery of educational workshops, seminars, and informational materials concerning the programs considering groups with diverse levels of understanding.
Skill in identifying and analyzing problems, needs and issues; assessing their impact; and recommending changes/revisions to the programs or internal operations.
Ability to research and analyze information/data, prepare and present complex technical and subject matter ideas and solutions clearly, concisely and effectively in oral and written form.
Ability to recognize and handle deficiencies in process design, compliance and management controls.
Ability to evaluate reports, legislation and proposed/existing programs and to devise, recommend and implement sound courses of action.
Ability to conduct procurement and solicitation processes to engage plan providers in accordance to the State’s procedures and regulations.
Ability to manage available resources in such a manner to ensure fulfilment of established goals and objectives set for the assigned core functions.
JOB REQUIREMENTS for Assistant Cash/Debt Manager
Applicants must have education, training and/or experience demonstrating competence in each of the following areas:
Possession of a Bachelors degree or higher in Accounting, Business Administration, Economics, Finance, Business Management, Computer Information Systems or related field.
Three years experience in public finance such as analyzing government revenue and expenditures, public trusts and investments, budgets and taxation; evaluating economic impact, making projections and recommending public policies.
Three years experience in developing solutions and providing recommendations, guidance and direction to management/officials in accomplishing financial, program, and organizational and operational goals and objectives and identifying and resolving issues.
Six months experience in financial administration such as comprehensive analysis of programs, budgets, projects, services, alternatives, and costs; financial planning, revenue generation, revenue forecasting, expenditure forecasting, cash flow management and establishing internal control.
Six months experience in presenting or facilitating workshops, seminars or educational sessions.
Six months experience in using an automated financial management information system to enter, update, modify, delete, retrieve/inquire and report on data.