Debt Manager

Overview

The Department of Finance plays a pivotal role in supporting the City of Norfolk, ensuring efficient and transparent financial operations across a broad spectrum of City functions. From financial reporting and payroll to procurement and risk management, we work collaboratively to ensure the fiscal health of our City and its residents. As part of our team, you’ll help shape the City’s financial future while benefiting from a dynamic, supportive work environment.

The Debt Manager leads the Debt and Cash Management Division, a critical component of the Department of Finance. This role directly impacts the City’s ability to finance its growth and development through timely and reliable access to capital markets. The Debt Manager will oversee the City’s debt portfolio, which includes financing for both core municipal operations and four enterprise funds, totaling approximately $1.5 billion.

The Debt Manager will be supported by 3 dedicated team members who report directly to the Debt Manager.

• Develop Debt Strategies & Plan
  :
  Design, implement, and manage strategies for both long-term and short-term debt to ensure the City can meet its capital needs for infrastructure, public services, and growth initiatives.
• Capital Financing & Market Access
  :
  Facilitate the City’s access to capital markets, ensuring competitive financing rates for major infrastructure projects and operations. Build and maintain strong relationships with financial institutions, and other service providers.
• Debt Portfolio Management
  :
  Oversee and analyze the City’s $1.5 billion debt portfolio, ensuring strategic administration, compliance with regulations, ongoing investor disclosure, and timely payment of all obligations.
• Credit Ratings & Compliance
  :
  Safeguard and improve the City’s credit ratings by working closely with rating agencies and maintaining compliance with City financial policies, and best practices.
• Provide Specialized Advice
  :
  Offer expert guidance to City leadership and departments on debt-related matters, including financing strategies, risk management, and long-term fiscal planning.
• Transaction Execution & Implementation
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  Lead the execution of debt financing transactions, including bond issuances, loan agreements, and other capital funding activities.
• Collaboration & Leadership
  :
  Work closely with various City departments and the City’s Financial Advisor to understand their financial needs, provide solutions, and align debt strategies with broader City goals. Mentor and guide team members in the Debt and Cash Management Division to foster professional growth and enhance departmental effectiveness.

• Coordinate the bond issuance process in collaboration with the City’s financial advisor, bond counsel, and City staff. This includes:
  • Analyzing cash flows to determine the timing and amount of bond issuance.
  • Evaluating refunding opportunities and alternative financing structures.
  • Producing official statements, rating agency presentations, and coordinating related events.
  • Scheduling public hearings and reviewing debt-related legal documents.
  • Maintaining an investor relations outreach strategy.

• Oversee the City’s debt management team to ensure:
  • Timely debt service payments and maintenance of debt service schedules.
  • Tracking and proper expenditure of bond proceeds.

• Review and implement innovative financing options, consistent with the City’s financial policies, to optimize fiscal health.

• Monitor key issues impacting the City’s debt, including financial policy, market trends, credit developments, and legislative/regulatory changes.
• Manage the production and distribution of financial and statistical data related to the City’s debt, including quarterly reports, transmittal letters for financings, and the Annual Debt Manual.

• Partner with the City’s financial advisor to manage relationships with rating agencies, ensuring the City maintains strong credit ratings for its general obligation and revenue bonds.
• Assist the City’s Budget and Strategic Planning Department…