Job ID: 2022-14570 Type: Full-Time # of Openings: 1 Category: Financial Services and Procurement
The Office of Finance & Treasury at Princeton University seeks a finance professional with significant experience in the suage of debt as a financing tool for capital projects for an opportunity as Director of Debt Management. The Director, Debt Management actively directs and assumes a leadership role over the University’s debt programs, both long-term and short-term, taxable and tax-exempt. The Director has the primary responsibility to evaluate and enhance the University’s debt management business processes to ensure both efficiency of operations and appropriate stewardship. This position directly manages three professional staff in the daily activities associated with managing University debt programs.
The Office of Finance & Treasury actively searches for staff members of exceptional ability and promise who share in Princeton University's commitment to excellence, and who present a diversity of viewpoints and cultures. We offer varied professional opportunities spanning all aspects of financial management, analysis, and processing in support of the teaching and research mission. As part of the University community, we respect the dignity and individuality of each member while trying to foster a sense of shared experience and common purpose. We are unwavering in our commitment to both diversity and community and embrace the variety of talents, backgrounds, and perspectives of all of our colleagues.
Provide leadership as to the design, enhancement and maintenance of a complex debt model to plan and manage the University’s debt program
The 10-year Capital Plan is used as the basis for formulating critical funding and financing decisions, particularly regarding debt strategy. One funding component of the Capital Plan is the debt model. Continually evaluate and enhance the debt model to streamline University business practices and external financial factors. Ensure that the debt model is accurately and efficiently integrated with the University’s Integrated Financail Planning tool.
Prepare documents for Trustee Committee meetings
Prepare debt presentations for Trustee meetings including materials required for both debt approvals and for regularly-occurring reports and dashboards.
Prepare content and visualizations for presentations for the annual update on debt capacity.
Manage and direct the issuance of debt and the ongoing activities related to the University’s debt portfolio
Assume a leadership role in monitoring, evaluating and optimizing the University’s $3.5 billion debt portfolio.
Size debt issuances (typically between $200 - $650 million) based on projected capital expenditure requirements and analyses of the University’s debt capacity.
Interact with investment banks, ratings agencies, the University’s financial advisor, borrowers counsel, bond counsel, and the NJ Educational Facilities Authority (NJEFA) regarding debt issuances, refunding opportunities, continuing disclosure, resolution of issues, and any other topics related to the University’s debt portfolio.
Ensure the allocation of debt proceeds to individual projects agrees with the established funding plan. Continually monitor and adjust debt allocations among projects, as necessary, to ensure compliance with IRS regulations and University requirements, including private use restrictions, continuing disclosure and other post-issuance compliance requirements.
Manage the University’s bank lines of credit.
Ad hoc analyses and reports
Forecast and monitor debt proceed expenditure including monthly expenditure projections, commercial paper requirements, and bond drawdown projections, among others.
Represent the needs of the department to both internal and external constituencies for various special projects.
Supervise the workflow and activities of thee professional staff
Full supervisory responsibility over three professional staff: the Senior Analyst for Debt Management, the Treasury Accountant, and the Assistant Director for Loan Receivables.
Seven or more years of debt management experience, preferably in a higher education environment
Knowledge of financial markets, especially the municipal and corporate bond markets.
Significant experience in the usage of debt as a financing tool for capital projects including:
Both tax-exempt and taxable debt;
Fixed-rate and variable modes;
Long-term debt as well as short-term Commercial Paper;
Familiarity with bond issuance processes and documents;
Strong knowledge of reimbursement processes;
Experience in complying with continuing disclosure requirements, ratings agency disclosure submissions, IRS Private Business Use/UBIT submissions and requirements, etc.;
Ability to assess and evaluate refunding opportunities.
Advanced degree preferred, MBA in Finance, M.S. in Finance, etc.
Experience in financial modeling and experience in writing queries to extract data from financial systems.
Deep capital market experience as either an issuer of bonds, or as an investment banking/financial advisory professional.
Princeton University is an Equal Opportunity/Affirmative Action Employer and all qualified applicants will receive consideration for employment without regard to age, race, color, religion, sex, sexual orientation, gender identity or expression, national origin, disability status, protected veteran status, or any other characteristic protected by law. EEO IS THE LAW
Princeton University is a vibrant community of scholarship and learning that stands in the nation's service and in the service of all nations. Chartered in 1746, Princeton is the fourth-oldest college in the United States. Princeton is an independent, coeducational, nondenominational institution that provides undergraduate and graduate instruction in the humanities, social sciences, natural sciences and engineering.As a world-renowned research university, Princeton seeks to achieve the highest levels of distinction in the discovery and transmission of knowledge and understanding. At the same time, Princeton is distinctive among research universities in its commitment to undergraduate teaching.Today, more than 1,100 faculty members instruct approximately 5,200 undergraduate students and 2,600 graduate students. The University's generous financial aid program ensures that talented students from all economic backgrounds can afford a Princeton education.