Banking & Fiscal Coordinator

Date: Oct 29, 2019

Job ID  10323  Department  Financing & Risk Mgmt (10000019) 
Union Classification  Non Union  Type  Full Time - Salaried  
# of Openings  Job Location  Everett, Washington (US-WA) 
Closing Date  11/20/2019   Salary/Wage  $103,191.00 - $126,122.00 annually 

 

Job Definition

Serves as the Deputy Treasurer.  Responsible for the District’s daily cash management, short and long-term investments, and fiscal agency activities.  Manages and maintains accurate and timely check and investment registers.  Prepares various financial reports and general ledger journal entries for the Electric, Generation, and Water Systems.  Serves as a liaison and resolves issues between the District and the financial institutions with which it does business.

Distinguishing Characteristics

N/A

Essential Job Functions

Assigns tasks to and oversees the daily activities of the Banking and Fiscal Analyst.

 

Prepares and analyzes the District’s daily cash management needs.  Secures bids and invests available cash in accordance with the District’s investment policy, scheduling maturities to meet projected cash needs.  

 

Manages the District’s various investment funds based on cash flow forecasts, analysis of overall liquidity needs, and duration benchmarks as outlined by the investment policy, ensuring that proper funds are established and required balances are maintained, recorded and balanced.  Responsible for the accounting of these funds.

 

Supervises the posting of data into the check and investment registers.  Maintains, controls, and balances check and investment registers.  Oversees cash and investment related general ledger journal entries for all systems for preparation of the monthly financial statements.

 

Coordinates the daily wire payments for investments, debt service and to various vendors, and others.

 

Manages fiscal agent activities, ensuring that funds are set aside for the timely payment of the debt service requirements for each bond issue.  Transfers funds as required to meet debt service needs.  Reconciles and approves for payment all fiscal agent charges.

 

Manages all District banking activities.  Researches, analyzes, and resolves daily issues with local banks.  Coordinates activity with the appropriate District departments and customers.  Serves as a liaison between the District and local banks.

 

Establishes escrow and/or market rate savings accounts with various financial institutions for funds retained from public works contract progress payments (in lieu of performance and/or bid bonds).

 

Compiles data and prepares various monthly financial reports, such as investment listings, Washington State Pool data, warrants redeemed, etc. 

 

Assist with the District’s tax exempt bond compliance.   Compiles investment earnings for arbitrage calculations. 

 

Conducts monthly Investment Committee meetings and provides analysis of District investments.  

 

Monitors and determines cost effectiveness of maintaining compensating balances in District banking accounts.

 

Prepares and executes investment transactions through analysis of competitive broker/dealer bids.

 

Monitors and recommends changes to Investment and Reserve Policies to meet District operational requirements, comply with changes in related laws, regulations and/or industry standards.

 

Prepares and oversees the posting of data in Treasury and banking related software.

 

Performs annual calculations associated with Generation System projects including land use exemption, Department of Fish and Wildlife enhancements, contributions and others.

 

Prepares year-end statements and cash flow analysis for annual financial statements.  Prepares supporting documentation for annual cash and debt footnote disclosures.

 

Monitors cash management procedures, processes and controls and recommends modifications. Coordinates related IT system changes with the Finance functional lead.

 

Coordinates with local brokers the sale of stock received by the District in lieu of cash.  Initiates and completes the necessary paperwork to sell such stock.  
 

 

Specialized Job Functions

N/A

Other Job Functions

Perform other duties as assigned.

Minimum Qualifications
Knowledge of:
• Finance and cash management theory and practices.
• Technical accounting theory, practices and principles, including generally accepted accounting principles.
• Banking regulations and practices and state and federal laws governing the investment of governmental agency funds.
• Investment operations, various investment securities, and municipal finance
• Cash flow analysis and standards.
• Computer applications including word processing, spreadsheets, databases and ERP systems for medium to large-size companies.
• Problem identification, research and analysis techniques.
• Written and oral communication and report writing techniques.
Ability to:
• Handle multiple projects and responsibilities simultaneously.
• Perform well under pressure and tight deadlines. Calmly manage stressful situations.
• Monitor deadlines for various District payments (debt service, purchased power payments, federal withholding taxes, etc.) and ensure timely payments are made.
• Work independently and exercise sound business judgment in analyzing and resolving problems (positive pay exceptions, bank returns, questionable items, etc.).
• Communicate and work effectively with all levels of the organization, co-workers, customers and external vendors.
• Utilize strong analytical skills with the ability to apply judgment and provide efficient and effective solutions.
• Operate a personal computer and associated applications.
• Maintain accurate accounts and records.
• Use appropriate judgment in maintaining confidential information.
• Analyze and interpret complex information.
• Work outside normal business hours as necessary especially for critical issue resolution or to achieve project milestones.
Experience/Education
  • Bachelor of Science degree in business, accounting, finance, economics or related field, AND;
  • Four (4) years progressive experience in an accounting, treasury or finance related role.
License/Certification
• Valid Washington State Driver License.
• Satisfactory background and credit check.
Preferred Qualifications
  • Master’s degree in business, accounting or finance.
  • Certified Cash Manager.
  • Knowledge of Federal Energy Regulatory Commission (“FERC”) accounting principles and practices
  • Experience with SAP Software

 

Working Conditions
• Duties are performed primarily in an office environment.
• Repetitive use of a computer, keyboard and mouse are required.
• This position requires travel to meetings, banks and other appointments with which the District does business.

 

 

Snohomish County P.U.D. #1 is an Equal Opportunity Employer of Minorities, Women, Disabled and Veterans.


Nearest Major Market: Seattle
Nearest Secondary Market: Everett

Job Segment: ERP, SAP, Technology

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