Hennepin County is seeking an Assistant Investment Officer for the Office of Budget & Finance department. In this new position, you will have an active, hands-on role in management of the County's cash, investment, and debt issuance programs by analyzing, proposing, and participating in investment and debt decisions, transactions, and operations. Under supervision of the Investment and Debt Officer, you will participate in direct management of the County’s liquid operating assets and balance sheet. In 2022, the commingled operating portfolio had average daily assets of $2 billion, all managed internally. County investments are comprised of fixed-income and short-term investments, allowable under law and policy, which are managed to meet daily and short-term cash needs and contribute steady earnings to lower County budget dependence on property taxes. In addition, you will participate in short-term borrowing to maintain a safe and sufficient working capital position, issuance of County bonds for capital projects, and investment of those proceeds. The county’s outstanding general obligation, limited tax, and sales tax debt totals $1.625 billion.
Current Hennepin County employees who refer a candidate hired into an open competitive position may be eligible for a $500 referral bonus. For more information visit employee referral program.
Location and hours:
This position is hybrid and will be performed both at the Hennepin County Government Center building in downtown Minneapolis at 300 South 6th Street, Minneapolis, MN 55487 and remote as job duties require. On-site work, initially 5-10 days per month, will be necessary for collaboration, training, and information sharing. With operating hours of financial markets, this position will typically work from Monday through Friday between 7:30 a.m. and 4:30 p.m. However, the timing of certain market transactions and operations will require that the employee adjust hours accordingly. While this position is designated as hybrid, based on current requirements hires must reside in or relocate to Minnesota or Wisconsin. New employees who are hired into remote or hybrid positions between January 2, 2022, to December 31, 2024, will receive $500 toward the cost of establishing consistent internet connectivity, payable upon completion of 6 months of employment.
About the position type:This position is a full-time, benefit earning position.
This position is internally classified as a Department Administrator, Senior. Click here to view the job classification specification.Note: You must attach a resume with your application materials to be considered for this position.
In this position, you will:
· Develop, maintain, and adjust strategies to ensure adequate cash to meet obligations as required.
· Participate in the analysis and management of the investment portfolio, complying with applicable laws, policies, and chosen strategies.
· Maintain information on financial market conditions, securities prices, yield curves, indices, and benchmarks to determine opportunities and risks for the county investment and debt programs.
· Determine appropriate transactions that increase short- or long-term risk-adjusted earnings, or adjust portfolio risk characteristics, as directed.
· Participate in the issuance of new money and refunding bonds, and commercial paper to meet County financing requirements in accordance with County policy and applicable laws.
· Establish and maintain effective internal and external relationships to benefit the county investment and debt management programs.
· Maintain necessary documentation to ensure audit and post-issuance compliance for investment and debt programs.
· Contribute to budget planning, and policy and legislative analysis in all areas including investment and debt management.
· Create reports and make presentations as requested on performance, risk and compliance.
Need to have:
· One of the following:
o Ten years or more of professional experience in managing fixed income securities investments and portfolios, conducting relevant financial analysis and transactions, and/or managing a large debt portfolio.
o Bachelor's degree or higher in finance, business administration, economics, public administration, or a closely related field with course work emphasis on money and portfolio management, financial markets, banking strategies and debt management and six years or more of professional experience in managing fixed income securities investments and portfolios, conducting relevant financial analysis and transactions, and/or managing a large debt portfolio.
Nice to have:
· Knowledge of principles and best practices related to capital markets:
o Investment management, economics, accounting, investment analysis.
o Securities and banking industry, money market operations.
o Cash flow management techniques.
o Taxable and tax-exempt debt practices, credit rating criteria and practices.
o State and federal statutory requirements affecting debt and investment policy.
o Financial statements and financial reporting requirements.
o Financial analysis and forecasting.
o The interrelationship of budget and financial statements
o Computer applications for financial purposes.
· Ability to:
o Comprehend disciplines such as economics, financial analysis, and portfolio management.
o Execute fixed income transactions.
o Maintain working knowledge and perspective of the financial markets, especially the bond market.
o Obtain maximum utilization of funds through short- and long-term investment and debt practices.
o Conduct short- and long-range financial analysis and planning.
o Maintain effective working relationships with internal and external parties.
o Communicate effectively with all levels of management, verbally and through written reports.
· CFA charter holder or candidate.
· CFP certificate holder or candidate.
· Master's degree in any above cited subjects.
· Bloomberg terminal experience.
About the department:The Office of Budget & Finance works hard to ensure sound credit conditions, working capital, and overall financial health within Hennepin County by supporting strategic objectives through leveraging technology, effective management of financial and human resource systems and services, as well as Hennepin County's commitment to equal opportunity, affirmative action, diversity, and inclusion. About Hennepin County:Hennepin is the largest county government organization in Minnesota. Our employees work every day to improve the health, safety and quality of life for our residents and communities. All of our jobs align to one or more of our overarching goals -- that Hennepin County residents are healthy, protected and safe, self-reliant, assured due process, and mobile. Our employees receive a combination of generous benefits and positive workplace culture not found at other organizations. This includes meaningful work that impacts our community, competitive pay, work-life balance, a variety of benefits and opportunities to grow. Learn more at The Bridge (Log in as Guest). Hennepin County envisions an organization where our commitment to diversity and the reduction of disparities is fundamental in providing excellent service to our community. Your future. Made here. This posting may be used to fill current and future vacancies. Invitations to interview will be based upon an assessment of education and experience.Final candidates may be required to complete a background check.