With a workforce of over 30,000 people, and opportunities in more than 1,000 different job categories, the City of Philadelphia is the fifth largest city in the United States and one of the largest employers in Southeastern Pennsylvania. As an employer, the City of Philadelphia operates through the guiding principles of service, integrity, respect, accountability, collaboration, diversity and inclusion. Through these principles, we strive to effectively deliver services, to resolve the challenges facing our city, and to make Philadelphia a place where all of our residents have the opportunity to reach their potential.
The City Treasurer’s Office (CTO) mission is to safeguard City funds, serve as the disbursement agent for all City related payments, and invest those funds that are in excess of the amount needed to meet daily cash requirements. The CTO also works to improve and maintain the City’s credit ratings.
The CTO accomplishes this work through the following programs:
Debt Management: The CTO manages new and outstanding City debt in accordance with the City’s Debt Management Policies, maximizes the value received from new financings, and minimizes interest and transaction costs. The City of Philadelphia issues debt primarily to finance capital projects and major equipment acquisitions. In an effort to effectively manage the City’s debt, CTO implements measures that promote financial integrity, flexibility, and credit strength.
Banking & Investment Management: The CTO manages the custodial banking of all City funds by encouraging standards and practices consistent with safeguarding City funds and aims to maximize the amount of cash available for investment after meeting daily cash requirements. The CTO serves as the disbursing agent for checks and electronic payments from the City.
The position is responsible for managing the daily Treasury function, including cash management; short term investing and banking relationship functions for the City. The City manages over 300 bank accounts and approximately $2.5 billion of short term investments (two years or less in maturity) for the General Fund, Water Department, Aviation Division and the Philadelphia Gas works. The incumbent is responsible for oversight of the City Treasury's cash and liquidity operations. The incumbent ensures propriety and compliance with cash management and short-term investment management activities, while maintaining professional bank relationships on behalf of the City. Responsibilities include managing, coordinating, and executing all aspects of the City's treasury-related financial systems. Work includes interpreting assignments, accounting laws, rules, regulations, policies and procedures in order to carry out the daily business objectives of the City’s treasury management function and effectively communicating within and outside the department. Works in close cooperation with internal Treasurer’s Office staff; other Finance Divisions, including Accounting and Budget; and other City departments to successfully accomplish job responsibilities. Work is performed with considerable independence, but subject to review by a professional superior for program effectiveness and conformance with established goals, objectives and policies.
Manages a team of accountants and clerical staff, ensuring that work is completed timely and accurately, including annual performance reviews and ongoing performance development and feedback
Provides project supervision and reviews work to ensure compliance with financial plans and specifications.
Maintains professional liaison with finance professionals, financial advisors, and other government departments and agencies.
Provides consultation and direction to internal City of Philadelphia departments related to cash and banking activities.
Prepares, submits and implements the departmental budget.
Represents the City Treasurer's office in designated forums and meetings.
Develops, recommends, interprets, and ensures citywide compliance with City of Philadelphia and City Treasurer Office policies and procedures.
Researches and applies relevant procedures, laws and analyzes facts, precedents, reports, finances, etc.
Chairs, participates in, or provides consultation to committees, planning groups, special training or seminars.
Develops and evaluates projects, planning studies, programs and processes. Communicates project progress to appropriate staff.
Communicates clearly and authoritatively, orally and in writing. Exercises discretion, and independent judgment.
Demonstrates continuous effort to improve operations, decrease turnaround times, streamlines work processes and works cooperatively and jointly to provide quality seamless customer service.
Develops, prepares and reviews reports.
Conducts or attends meetings.
Operates a personal computer utilizing programs included in or similar to Microsoft Office and various PTC specific operating systems functions and systems software, including cash management and financial investment programs.
Maintains an overall perspective and thinks analytically.
Frequent speaking, both in person and by telephone, writing and reading reports and computer screens.
Bachelor's degree in Finance, Math, or Economics; or any equivalent combination of experience, education, and training.
Seven years of experience in corporate treasury management, bond and general finance, or banking- related work to include four years of supervisory experience and demonstrated ability to motivate a team of high-performing individuals.
Must possess a high degree of financial knowledge, which includes knowledge of cash management principles as well as bond and treasury markets.
Thorough understanding of complex capital markets and necessary methodologies is required.
Ability to evaluate all investment proposals submitted to the City.
Must be able to use professional judgment to ensure financial position and results of financial transactions meet Treasury Operations objectives.
Must have mastery of financial spreadsheet applications and applicable treasury and financial package software. Proven project management and prioritization skills.
Must possess strong presentation skills and be able to communicate with a broad spectrum of internal as well as external individuals and groups.
Successful candidate must be a City of Philadelphia resident within six months of hire.
The City of Philadelphia is an Equal Opportunity employer and does not permit discrimination based on race, ethnicity, color, sex, sexual orientation, gender identity, religion, national origin, ancestry, age, disability, marital status, source of income, familial status, genetic information or domestic or sexual violence victim status. If you believe you were discriminated against, call the Philadelphia Commission on Human Relations at 215-686-4670. For more information, go to: Human Relations Website: http://www.phila.gov/humanrelations/Pages/default.aspx
Additional Salary Information: Successful candidate must be a City of Philadelphia resident within six months of hire.
About The City of Philadelphia
The City of Philadelphia is a municipal local government.