Senior Director for Debt Management & Ratings

Virginia Tech•Blacksburg, VA

4d•$170,000 - $180,000•Onsite

About The Position

Reporting to the AVP for Treasury Operations & University Bursar (AVPTO&UB), the Senior Director for Debt Management & Ratings (SD for DM&R) directs and oversees the ongoing management of the university’s debt and lending programs while identifying and managing applicable financial risks for the university. This position serves as a member of the senior leadership team for the Treasury Department. In coordination with leaders from the Office of Budget & Financial Planning, Capital Budgeting and Financing, and the Controller’s Office, the SD for DM&R determines the amount and timing of debt issuances needed to finance capital construction and other strategic projects, along with target amounts for short-term financing of capital projects, in accordance with university debt policies and Board of Visitors and/or Commonwealth of Virginia authorizations. The SD for DM&R is the primary contact with the credit rating agencies covering the university, as well as advising campus on the hedging of any commodity and other relevant exposures. Further responsibilities include ensuring compliance with IRS regulations related to post-issuance monitoring of the usage of facilities financed with tax-exempt debt and providing oversight and coordination to ensure the timely payment of debt service, administrative fees, etc. for both short-term and long-term debt programs.

Requirements

Master's degree in Finance, Accounting, Business Administration, Economics, Public Administration, or a related field; or a Bachelor's degree in one of these fields with significant relevant professional experience.
Extensive demonstrated experience in higher education finance or similar treasury role, including public sector debt financing and interactions with credit rating agencies and state financing authorities.
Strong analytical, strategic planning, and financial risk management skills, with the ability to develop policies and present complex financial information to executive leadership and governing boards.
Knowledge of tax-exempt financing, debt compliance requirements, and financial reporting.
Excellent written, verbal, and presentation skills.
Demonstrated ability to manage multiple priorities, lead cross-functional initiatives, and work effectively in a collaborative, deadline-driven environment.
Proficiency with Microsoft Office and financial reporting and analysis systems.

Nice To Haves

Professional certification such as CFA, CPA, or Certified Treasury Professional (CTP).
Experience establishing or managing internal lending/banking programs and developing financial risk management or hedging strategies.

Responsibilities

In conjunction with the VPF&CFO, AVPTO&UB, and other members of the VPF leadership team, develop strategic plans and updates to policies and procedures related to debt to enable continuous improvement of the university’s net financial position
Serves as the primary contact and coordinates authorized debt issuances with the appropriate state agencies such as Department of the Treasury, the Virginia College Building Authority, etc.
Directs and oversees the ongoing management of university’s debt and lending programs
Manages the university’s credit ratings and serves as the primary contact to both Moody’s and S&P, along with bond counsel, banks, underwriters, and financial advisors as related to debt
Develops proposals to establish the university’s Internal Bank to include development of policies and procedures, reporting, and governance. The explicit goal of the Internal Bank is to provide campus equity, borrowing flexibility, and to generate unrestricted net assets for Virginia Tech
Liaises with the AVPTO&UB regarding short-term debt financing programs such as lines of credit for operating liquidity and the commercial paper program for temporary financing of capital projects with long-term debt authorizations
In conjunction with the VPF&CFO, AVPTO&UB, and other members of the VPF leadership team, coordinates and manages ongoing reviews with consultants, bankers and other advisors to assess the impact of planned debt and long-term lease obligations on the university’s debt rating and debt capacity limit and ensure compliance with university debt policy requirements
Ensures compliance with IRS regulations related to post-issuance monitoring of the usage of facilities financed with tax-exempt debt
Manages and coordinates the issuance of various financial reports detailing outstanding debt and debt capacity, debt service amortization schedules, etc. for university leadership and the Board of Visitors
In consultation with external advisors, develops a hedging policy for the university that covers interest rate, commodity, energy and other similar risk exposures, coordinates and oversees the policy’s implementation, and monitors and maintains the resulting hedging portfolio (if any)