Job Description

Job Description

Job Description

Company Description

A best-in-class city that attracts best-in-class talent, Philadelphia is an incredible place to build a career. From our thriving arts scene and rich history to our culture of passion and grit, there are countless reasons to love living and working here. With a workforce of over 30,000 people, and more than 1,000 different job categories, the City of Philadelphia offers boundless opportunities to make an impact.

As an employer, the City of Philadelphia values inclusion, integrity, innovation, empowerment, and hard work above all else. We offer a vibrant work environment, comprehensive health care and benefits, and the experience you need to grow and excel. If you’re interested in working with a passionate team of people who care about the future of Philadelphia, start here.

What we offer

• Impact - The work you do here matters to millions. 
• Growth - Philadelphia is growing, why not grow with it? 
• Diversity & Inclusion - Find a career in a place where everyone belongs.
• Benefits - We care about your well-being.

Agency Description

The City Treasurer’s Office (CTO) manages new and outstanding City debt in accordance with the City’s Debt Management Policies to maximize the value received from new financings and minimize interest and transaction costs. The City issues debt primarily to finance critical capital infrastructure improvements and major equipment acquisitions on behalf of each of its credits: General Obligation and Tax-Supported debt, Water and Wastewater, Philadelphia International Airport, and Philadelphia Gas Works. Related to debt issuance, CTO works to maintain and improve the City’s credit ratings. The City maintains its ‘A’ rating with all three credit rating agencies. In general, higher credit ratings result in lower borrowing costs as investors view these securities as less risky.

CTO also manages the custodial banking of all City funds by encouraging standards and practices consistent with safeguarding City funds, aims to maximize the amount of cash available for investment, and invests those funds that are in excess of the amount needed to meet daily cash requirements. CTO serves as the disbursing agent for checks and electronic payments from the City.

Position Summary

The Assistant City Treasurer for Debt will support the City Treasurer’s Office in managing the City’s comprehensive debt portfolio that provides capital funding for core City credit operations. CTO manages approximately $9 billion in debt across all City credits (General Fund, Airport, Water, and Gas) and approximately $250 million of derivatives and approximately $1.3 billion of credit products. The Assistant City Treasurer will report to the Deputy Treasurer for Debt Management.

The Assistant City Treasurer is responsible for assisting with the coordination of municipal debt transactions, initiating debt service payments, and supporting activities to ensure compliance with the City’s continuing disclosure requirements. The position works closely with various internal City departments, including the Office of the Director of Finance and the Budget Office, and external consultants, bond counsels, and financial advisors to successfully accomplish job responsibilities. Work includes coordinating bond issuance process with City advisors and evaluating financing and refunding proposals received by the City. The Assistant City Treasurer will interpret assignments, analyses, policies and procedures in order to carry out the daily business objectives of the City’s debt management functions and timely payment of debt service. Work is performed with some independence, but functions well in tandem with a professional superior for program effectiveness and conformance with established goals, objectives and policies.

Essential Functions

• Assist Deputy Treasurer with the maintenance of the City debt portfolio, debt payments, and evaluation of financing proposals.
• Assist Deputy Treasurer with the management and updating of internal database of outstanding debt, letters of credit and derivatives on a monthly basis, and performing related analyses as needed.
• Support both the preparation and execution of financing transactions through review and update of financial documents and presentations, collection of City signatures, and record management.
• Provide support for the City’s continuing disclosure requirements.
• Assist the Deputy Treasurer with the maintenance of the City’s investor site and debt sections of Treasury website.
• Prepare PowerPoint presentations for use in rating agency, investor and credit conference communications.
• Organize, track and maintain analyses, reports, and correspondence relating to external financial advisors, counsel, and investment banks.
• Performs related duties as required.

Competencies, Knowledge, Skills and Abilities

• Must possess a basic understanding of finance, which includes knowledge of time value of money and compound interest principles, and an awareness of bond and treasury markets.
• Must have strong proficiency of Microsoft Excel or financial spreadsheet applications. Experience with financial programs such as DBC Debt Manager or other debt management software is a plus.
• Ability to think analytically, read and understand laws and regulations impacting municipal finance activities, and evaluate financing proposals submitted to the City.
• Ability to meet critical operational processing deadlines and complete assignments and tasks in an accurate and timely manner.
• Must possess strong presentation skills and be able to communicate effectively with a broad spectrum of internal and external stakeholders.

Bachelor's degree in Finance, Math, Economics or a similar field; or any equivalent combination of experience, education, and training.

TO APPLY:   Interested candidates must submit a cover letter, resume, and references.

Salary Range: $53,500- $60,500

Discover the Perks of Being a City of Philadelphia Employee:

• Transportation : City employees get unlimited FREE public transportation all year long through SEPTA’s Key Advantage program. Employees can ride on SEPTA buses, subways, trolleys, and regional rail for their daily commute and more.
• Parental Benefits: The City offers its employees 8 weeks of paid parental leave.
• We offer Comprehensive health coverage for employees and their eligible dependents.
• Our wellness program offers eligibility into the discounted medical plan
• Employees receive paid vacation, sick leave, and holidays
• Generous retirement savings options are available
• Pay off your student loans faster - As a qualifying employer, City of Philadelphia employees are eligible to participate in the Public Service Loan Forgiveness program. Join the ranks of hundreds of employees who have already benefited from this program and achieved student loan forgiveness.
• Unlock Tuition Discounts and Scholarships - The City of Philadelphia has forged partnerships with over a dozen esteemed colleges and universities in the area, ensuring that our employees have access to a wide range of tuition discounts and scholarships. Experience savings of 10% to 40% on your educational expenses, extending not only to City employees but in some cases, spouse and dependents too!

Join the City of Philadelphia team today and seize these incredible benefits designed to enhance your financial well-being and personal growth!

*The successful candidate must be a city of Philadelphia resident within six months of hire

Effective May 22, 2023, vaccinations are no longer required for new employees that work in non-medical, non-emergency or patient facing positions with the City of Philadelphia. As a result, only employees in positions providing services that are patient-facing medical care (ex: Nurses, doctors, emergency medical personnel), must be fully vaccinated.

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 or send an email to faqpchr@phila.gov.

For more information, go to: Human Relations Website:

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