Cash and Investment Officer

City of Kent, Washington•Centennial, CO

2d•$8,693 - $10,591

About The Position

Under the direction of the Accounting Manager, the Cash and Investment Officer performs senior-level professional, technical, and analytical work involving cash flow and investment planning for the City’s cash, investment, and debt portfolios. The role manages the City’s daily liquidity and investment strategies, debt service obligations, and related financial analysis and reporting. It ensures that assigned citywide accounting practices comply with GAAP, GASB, BARS, applicable state and federal requirements, and City policies and procedures. The position independently analyzes financial data and market trends, evaluates cash flow needs, and makes timely investment decisions using complex spreadsheet models. It contributes to year-end closing and the preparation of the City’s Annual Comprehensive Financial Report (ACFR), including cash, investment, and debt-related statements, schedules, and disclosures. Work is performed under limited supervision, with responsibility for planning and carrying out assignments, resolving most work-related conflicts, coordinating work with others, and providing leadership and training to assigned staff. Work may involve tight deadlines and pressure. The position is full-time and represented by the AFSCME union. Work takes place in a typical office environment, with frequent interruptions and occasional interactions with difficult or irate individuals.

Requirements

Bachelor’s degree in Finance, Accounting, Economics, or a closely related field.
At least three years of professional accounting, investment, financial analysis, or related experience.
Knowledge of GAAP, GASB, BARS, and GAGAS, as well as governmental accounting, budgeting, and reporting practices.
Knowledge of municipal government policies and applicable local, state, and federal laws, codes, regulations, and ordinances.
Knowledge of investment and financial management, municipal financial research and analysis, budgeting and forecasting, and statistical principles including sampling and regression analysis.
Strong ability to use system software to develop complex spreadsheets and conduct financial analysis; exceptional Excel and Access skills for handling and correlating large amounts of data are required.
Ability to analyze and forecast financial data, interpret statistics, identify financial-market trends, and understand how unrelated events may affect markets.
Ability to synthesize information from diverse sources and make independent investment decisions that may significantly affect the City’s long-term financial position.
Ability to analyze and solve complex technical accounting and financial problems; define problems, collect data, establish facts, and draw valid conclusions.
Ability to plan, organize, and oversee assigned work programs, monitor legal requirements, and manage several projects and deadlines concurrently.
Excellent written, oral, interpersonal, organizational, and presentation skills, including the ability to communicate technical financial information effectively.
Ability to establish and maintain effective working relationships with brokers, financial and investment managers, coworkers, supervisors, and employees inside and outside the department.
Ability to read, interpret, apply, and explain codes, rules, regulations, policies, and procedures.
Regular and reliable attendance is essential.

Nice To Haves

Certified Public Accountant (CPA) or Certified Management Accountant (CMA) credential.
Two years of municipal or government accounting, investment, or financial analysis experience is highly preferred.

Responsibilities

Manage the City’s short- and long-term investment and cash flow portfolio; research market trends and other relevant data, evaluate future cash flow needs, and recommend and purchase investments.
Review the City’s daily cash position using information such as payroll, accounts payable, investment payments, and wire activity; determine whether to invest, hold, or liquidate funds, and initiate wire and ACH transfers.
Prepare year-end accrual entries and cash-, deposit-, and investment-related financial statements, trial balance entries, state schedules, supplemental information, and financial statement notes.
Manage the City’s debt portfolio, including recording new or refunded debt, tracking and recording debt service payments, maintaining amortization schedules, and preparing debt-related year-end entries, statements, schedules, and disclosures.
Compile and report debt information for budgeting purposes.
Reconcile, amortize, and prepare journal entries for cash, investment, debt, revenue, and expenditure transactions, including amortized investments, accrued interest and capital gains, and reinvested interest.
Coordinate debt service payments with the fiscal agent; maintain documentation for outstanding bond issues; resolve payment discrepancies; and serve as liaison with the bank and fiscal agent.
Assist with implementing GASB standards, particularly those related to cash, deposits, investments, and debt.
Analyze cash deficits, work with departments to improve cash flow, and perform interfund transfers to cover negative cash balances.
Coordinate with City personnel to provide information and assistance about investment and debt processes, and recommend process improvements.
Prepare cash and investment, outstanding debt, and long-term investment schedules for the monthly financial summary report.
Evaluate financial processes and recommend improvements to business and automation processes and systems.
Serve as a functional specialist for automated systems and processes related to investment and debt management.
Develop and use complex spreadsheets, summary reports, financial reports, trend analyses, spreadsheet and database models, and graphs for cash flow, investment, and debt analysis.
Perform special projects, including work on investment, debt management, general ledger, and department policies, as well as banking-service bids and contract extensions.
Provide leadership and training to assigned staff.
Support the vision, mission, values, and goals of the department and the City.
Maintain regular and reliable attendance to support daily banking and investment transactions.
Perform related duties as assigned.