Deputy Treasurer-Higher Education
Columbia University in New York
|Deadline||Open until filled|
|Date Posted||January 30, 2014|
Columbia University is one of the world's most important centers of research and at the same time a distinctive and distinguished learning environment for undergraduates and graduate students in many scholarly and professional fields. The University recognizes the importance of its location in New York City and seeks to link its research and teaching to the vast resources of a great metropolis. It seeks to attract a diverse and international faculty and student body, to support research and teaching on global issues, and to create academic relationships with many countries and regions. It expects all areas of the university to advance knowledge and learning at the highest level and to convey the products of its efforts to the world. Columbia is one of the top academic and research institutions in the world, conducting path breaking research in medicine, science, the arts, and the humanities. It includes three undergraduate schools, thirteen graduate and professional schools, and a school of continuing education. We are committed to attracting and retaining the best and brightest in the workforce to support our mission of excellence in higher education and research.
The Deputy Treasurer is responsible for enabling the University to achieve optimal financing of its long term capital needs while preserving the long term liquidity of the institution. The Deputy also serves as the primary back-up to the Treasurer for all Treasury related functions, including budgets and senior accountability.
Responsible for $1.5+ billion debt portfolio. Meets Columbia's capital finance needs while preserving bond rating; advises re timing, nature (taxable vs tax-exempt) and mix of debt (fixed and variable rate), liquidity coverage, derivative structures (interest rate swaps) that result in the lowest cost of capital for the University. Evaluates new products (such as floating rate notes, century bonds, derivatives etc.) for their appropriateness to Columbia. Makes decisions regarding refinancing, redemption and /or restructuring of current debt. Presents recommendations for new borrowing and refundings to senior management and the Trustees for their approval.
Works internally with Facilities Management and the Office of Management and Budget (OMB) to determine capital funding requirements; works externally with investment bankers, bond counsel, the NYS Dormitory Authority, the rating agencies to issue new money or refunding bonds. Defines need for and scope of work for external Financial Advisor; manages Financial Advisor to model scenarios, help evaluate alternative opportunities and manage transactions. Serves as primary contact for investment bankers, bond counsel, rating agencies.
Manages specific financing programs, such as bank lines and taxable commercial paper. Develops strategies to ensure appropriate mix of loan sources for projects (debt vs other) to preserve credit capacity and to ensure sufficient liquidity.
Responsible for Columbia's internal bank and for strategic liquidity planning. Leads cross-functional team from Treasury, OMB, Controller's Office, and external Financial Advisor, to define the scope and objectives of the internal bank; responsible for the development of policies and procedures regarding internal lending and external borrowing.
Working with Treasurer, Cash Management and OMB, evaluates the impact of capital financing projections on resulting working capital estimates, including the need for bridge financing, the deployment of capital pool balances and the optimal application of alternative internal and external funding sources.
Responsible for overseeing the implementation of software tools and analytics in support of the above activities.
Responsible for oversight of post-issuance compliance. Working with Controllers and external Auditors, overseas annual reporting re private use of tax-exempt debt proceeds. Educates and consults with key stakeholders (including Facilities Management, Departmental Administrators, General Counsel, Technology Ventures, Clinical Trials, etc.) regarding requirements in order that each can certify to their compliance.
Oversees design of databases to track all debt issues, funded projects and uses. Oversees compliance with IRS allocation and arbitrage exemption rules, and the determination of appropriate debt service to apply to indirect cost calculations for government contracts, etc.
Responsible to oversee debt service payments and continuing disclosure. Ensures that all debt service and debt related fees are paid on time in accordance with bond, swap and line of credit covenants.
Oversees all communication with and financial information provided to rating agencies, issuing authorities, market disclosure repositories and banks.
Serves as Columbia University's Finance representative to the insurance captive providing general liability insurance to Columbia and sixteen peer institutions. Member of the Finance, Investment and Capital Committees. Partners with Executive Director, Risk Management in evaluating strategic and financial risks and opportunities.
Provides support to the SEVP-Administration, EVP-Finance, Controller, General Counsel, EVP-Facilities; other related duties as assigned.
Oversight of other functions within Treasury in support of the Treasurer and when the Treasurer is unavailable.
Responsible for oversight of Business Manager and non-personnel budget for Treasury.
Bachelors degree, preferably in finance-related field, and MBA or comparable advanced degree required, as well as ten years of relevant finance/ public finance/ municipal investment banking and/or treasury experience, including supervisory experience. Must have expertise in taxable and/or tax exempt municipal bond markets. A strong accounting and/or financial background required. Excellent oral, written, interpersonal, organizational and problem-solving skills required. Ability to work closely and effectively with a diverse group of senior University administrators essential. Must be detail-oriented and be able to negotiate issues, resolve problems and have strong influencing skills. Demonstrated negotiating, analytical and project management skills required. Must be experienced at senior level (C-suite and board-level) presentations. In addition, the successful candidate must be a strategic thinker, with an open and collaborative style of leadership that encourages teamwork and cooperation, and a strong role model, manager and coach, with the ability to provide a positive working and learning environment for staff. Must have a demonstrated passion for excellent customer service and commitment to exceptional quality.
To be considered an applicant, all interested parties MUST apply through the Columbia University online employment application system. Paste the following quick link into your browser to access this position posting:
Columbia University is an Equal Employment / Affirmative Action Employer.
How To Apply
You can apply for this position online at http://jobs.columbia.edu/applicants/Central?quickFind=140122