Senior Director - Debt Financing

Description

Job Title : Senior Director, Debt Financing

Department / Division : Finance

Work Location : 2 Broadway, New York, NY 10004

Employment Type : Full

Salary Range : $176,000 - $196,000

Application Deadline : Until filled

This position is eligible for teleworking, which is currently one day per week. New hires are eligible to apply 30 days after their effective hire date.

Opening

The Metropolitan Transportation Authority is North America's largest transportation network, serving a population of 15.3 million people across a 5,000-square‑mile travel area surrounding New York City, Long Island, southeastern New York State, and Connecticut. The MTA network comprises the nation’s largest bus fleet and more subway and commuter rail cars than all other U.S. transit systems combined. MTA strives to provide a safe and reliable commute, excellent customer service, and rewarding opportunities.

Position Objective

The Senior Director, Debt Financing reports to the Deputy Chief, Financial Services and is responsible for structuring and negotiating the issuance of MTA and TBTA debt obligations in the global capital markets to raise funds for approved capital programs and liquidity facilities for MTA operating budget needs. The Senior Director, Debt Financing is responsible for all investor and rating agency communications, disclosure requirements, financial reporting and Board communications on financial activities. This position works closely with the Deputy Chief, Financial Services and members of the C suite in representing MTA to the global investment community and is expected to apply financial expertise to navigate the changing capital markets to ensure the MTA has uninterrupted access to the capital markets. This position is responsible for providing financial insight and strategies to advance various financial transactions helping to maintain the financial operations of the organization, including capital, cash, hedging, and alternative funding strategies as well as special projects as determined by the Chief Financial Officer from time to time.

Responsibilities

• Help guide and develop MTA’s financial strategy to fund the local portion of the MTA’s approved and contemplated capital plans.
• Lead a team comprised of internal and external resources to create debt strategies and annual debt service budgets, creating monthly variance reports for submission to the Board.
• Ensure sufficient cash liquidity to maintain financial operations, working with the Directors of Management and Budget and Cash and Investment Management.
• Ensure proper allocation of bond proceeds and PAYGO cash funding of the capital programs to ensure compliance with US Tax Code.
• Involves coordinating with external bond counsel firms including tax specialists, and internal departments including Director, Management and Budget, Director, Cash and Investment Management, Director, Capital Funding Management, Controller’s Office, and respective departmental supporting teams.
• Responsible for the structuring and negotiation of all capital markets and other debt related financial transactions including review of all legal documents and negotiating the pricing and all other terms of each transaction.
• Work closely with the Deputy Chief, Financial Services and external working groups, including a large underwriting syndicate, multiple bond counsel firms, financial and swap advisory firms and other market participants.
• Design and progress financial strategies to achieve a cost-efficient debt portfolio using MTA’s multiple credits.
• Recommend other financial strategies that support the capital program funding effort. Develop new bond credits as necessary.
• Work closely and maintain MTA’s relationships with the global investment banking community to ensure a free-flowing exchange of information to ensure MTA is being provided with sound financial opportunities to maintain a cost-effective debt portfolio.
• MTA hosts approximately 100 meetings annually with existing and prospective underwriters.
• Ideas proposed by underwriters need to be vetted and analyzed for potential implementation and determination of specific underwriter assignments.
• Work closely with MTA’s Municipal Advisor(s) in analyzing proposals.
• Design and progress financial strategies to achieve a cost-efficient debt portfolio using MTA’s multiple credits.
• Recommend other financial strategies that support the capital program funding effort.
• Responsible for management of MTA’s interest rate and fuel hedge derivative portfolios of over $2 billion.
• Maintain current status of portfolio, perform analyses as needed to enable MTA to take advantage of market opportunities and ensure compliance with document requirements.
• Responsible for developing plan of finance to address amendments, novations, and terminations as needed from time to time.
• Responsible for on‑going management of the MTA’s tax‑advantaged leasing portfolio including timely compliance with certification and document requirements.
• Supervise outside tax‑advantaged leasing consultant and provide analysis related to negotiated termination as may be required from time to time.
• Maintain the MTA’s Debt Database containing detailed information on the entire portfolio of outstanding indebtedness, currently over $48 billion.
• Supervise the preparation of MTA Consolidated Financial Plans to accurately forecast debt service costs.
• Select, develop and motivate personnel within the department.
• Provide career development for subordinates. Provide prompt and effective coaching and counseling.
• Responsible for discipline / termination of employees when necessary. Review performance of staff.
• Create a professional environment that respects individual differences and enables all employees to develop and contribute to their full potential.
• Responsible for providing timely and accurate information about MTA’s financial condition, debt obligations and financial forecasts to the global investment community, including all classes of investors, rating agency personnel, liquidity providers, trustees, insurers and other capital market participants.
• Ensure clear and open communications within the confines of existing financial disclosure. This is a critical external facing role that is focused on building and maintaining relationships with key stakeholders in the investor and rating agency communities.
• Responsible for meeting U.S. Securities and Exchange Commission (SEC) Rule 15c2-12 filing requirements through the Municipal Securities Rulemaking Board (MSRB) processes.
• Responsible for all content on the MTA Investor Information web pages and ensure new and updated information is posted timely. The MTA website is a critical destination for members of the investment community seeking the voluminous information involved in the issuance and maintenance of debt obligations for capital and operating needs.

Is held accountable for overseeing and evaluating consultants’ performance, including Municipal Advisors, Swap Advisors and Independent Engineer for MTA Bridges & Tunnels :

Required Qualifications

Required Knowledge / Skills / Abilities :

Required Education And Experience

The Following Is / are Preferred

Other Information

“Pursuant to the New York State Public Officers Law & the MTA Code of Ethics, all employees who hold a policymaking position must file an Annual Statement of Financial Disclosure (FDS) with the NYS Commission on Ethics and Lobbying in Government (the “Commission”).”

Equal Employment Opportunity

MTA and its subsidiary and affiliated agencies are Equal Opportunity Employers, including those concerning veteran status and individuals with disabilities. The MTA encourages qualified applicants from diverse backgrounds, experiences, and abilities, including military service members, to apply.

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