Finance and Reserve Specialist

Website The Regional Municipality of York

Job Details

Qualification Successful completion of a Master’s Degree in Business Administration, Mathematics, or Economics, or a Chartered Accountant designation or an approved equivalent combination of education and experience.
Industry  Private
Employment Type  Full Time
Work Hours  8 Hours
Salary  CAD 60 To CAD 66 Per Hour

 

POSITION PURPOSE:

Reporting to the Manager, Financing and Reserves, is responsible for supporting a comprehensive and integrated funding strategy for the Region’s capital program that optimizes the use of debt and reserves; administering current and future financial obligations; assisting with investors and credit rating agencies; and supporting the development of related policies.

MAJOR RESPONSIBILITIES

  • Develops financial models with respect to the Region’s Long-Term Debt Strategy sources, such as tax levy, user rates, and reserves, including the impact of other funding.
  • Develops multi-year capital funding models for 10 and 20-year forecast periods that optimize the available debt capacity, reserves, and other funding sources.
  • Allocates annually funding sources to individual capital expenditures of the corporation based on the optimized funding envelope.
  • Analyzes the requirements of existing reserves to determine adequacy; proposes appropriate reserve targets and funding strategies; determines the need for new reserves and/or the collapse of existing reserves.
  • Forecasts multi-year reserve balances and models long-term cashflow requirements for the Region to assist in the Corporate budget process and provide investment term guidelines for portfolio management purposes.
  • Compares reserve positions with peer municipalities; identifies, recommends, and calculates appropriate benchmarks and/or best practices relating to municipal reserve programs.
  • Develops financial models data required for the development of the annual Long-Term and other Financial Obligations Management Plan (Debt Management Plan) including an examination of the risk and mitigations.
  • Communicates and coordinates with internal Departments and external institutions, municipalities, lawyers, bond rating agencies, investors, vendors, and service providers, in the execution of borrowing, lending, and negotiating functions.
  • Performs other duties, as assigned, in accordance with Branch and Department objectives.

QUALIFICATIONS

  • Successful completion of a Master’s Degree in Business Administration, Mathematics, or Economics, or a Chartered Accountant designation or an approved equivalent combination of education and experience.
  • Minimum five (5) years of financial experience in a large multi-divisional organization including experience in financial analysis and forecasting as well as project management.
  • Demonstrated experience in writing analytical reports/studies, including the ability to identify problems, analyze and interpret data, and make and defend recommendations from the results of studies.
  • Demonstrated experience in the analysis, design, and creation of computerized financial models.
  • Thorough understanding of accounting principles.
  • Knowledge of provincial and municipal statutes and regulations pertaining to debt issuance, the establishment of reserves, and governance issues, including the ability to interpret and explain complex legislation.
  • Sound knowledge of financing principles and practices and the workings of domestic capital markets.
  • Knowledge of and demonstrated ability in corporate core competencies including customer service, communication, teamwork, initiative/self-management and accountability, and flexibility/adaptability.

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