Debt Manager

Debt Manager

Salary: $78,434.00 - $ Annually

Location:

Norfolk, VA

Job Type: Unclassified

Job Number: 12890

Department:
Finance

Division:
Director's Office

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.

• Develop Debt Strategies & Plans:
  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:
  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.

• Bond Issuance & Capital Markets Management: Coordinate bond issuance process, analyze cash flows, evaluate refunding opportunities, produce official statements, coordinate related events, schedule public hearings, review debt‑related legal documents, maintain investor relations outreach strategy.
• Debt Service & Financial Administration: Oversee the City’s debt management team, ensure timely debt service payments, maintain debt service schedules, track and properly expend bond proceeds.
• Innovative Financial Solutions: Review and implement innovative financing options consistent with City’s financial policies to optimize fiscal health.
• Analysis & Reporting: Monitor key issues impacting debt, including financial policy, market trends, credit developments, legislative/regulatory changes; manage production and distribution of financial and statistical data related to debt, including quarterly reports and annual debt manual.
• Rating Agency & Credit Relations: Partner with the City’s financial advisor to manage rating agency relationships and ensure strong credit ratings for general obligation and revenue bonds.
• Capital Planning & Financial Strategy: Collaborate with City departments to develop and update cash flow projections for the Capital Improvement Program, identify financing alternatives, monitor compliance with post‑issuance tax and disclosure regulations.
• Revolving Line of Credit Management: Manage the City’s Revolving Line of Credit to provide interim cash flow financing, ensure compliance with covenants, and explore alternative financing structures.
• Debt Compliance & Policy Development: Review and ensure adherence to financial policies, recommend and help implement debt management policies.
• Tax Compliance & Underwriting Pool Management: Stay informed on federal tax‑exempt debt regulations, manage the underwriting pool, foster relationships with underwriters.
• Long‑Term Financial Reporting: Lead preparation of long‑term debt and debt service fund…