Sacramento Municipal Utility District Director of Treasury & Risk Management in Sacramento, California
Director of Treasury & Risk Management
Position Type Regular - Full Time
No. of Openings 1
Base Salary Annual Low $146,944 - $220,420
Base Salary Annual High $220,420
Eligibility List Yes
Selection Process Initial Review
Qualifications Interview Exam
Purpose This is a senior management level position, which reports to and works closely with the CFO. The Director of Treasury and Risk Management will provide leadership oversight in the development and implementation of strategic plans to provide for SMUD’s capital expansion requirements and manage and mitigate a broad range of enterprise risks. Specifically, this position is accountable for the development and management of long-term strategies for the following functions: debt, investment and derivative portfolio management, the mitigation of commodity risk, credit risk, interest rate risk, insurance risk and enterprise wide risk.
The Treasurer will contribute expert advice and evaluations of new business proposals or revenue initiatives, including making presentations to SMUD’s Board of Directors and executive team. SMUD’s Treasurer also oversees the management of complex debt, investment and derivative portfolios, commercial banking and other Treasury functions.
Major Duties & Responsibilities
Direct development of SMUD’s capital borrowing strategies, including the management of a $2.8 billion debt portfolio. Determine the timing, size, structure of borrowing and hedging transactions to meet capital expansion needs, including strategic direction regarding alternative ownership or tax structures for SMUD projects and power purchase contracts. Develop and manage key relationships with rating agencies, outside counsel and the investment community. Ensure compliance with all tax requirements to protect tax exempt status of SMUD debt.Represent SMUD’s financial interests with professional organizations and lobbying efforts.
Recommend optimized commodity structure and portfolio. Manage the measurement, assessment and reporting of commodity risks. Work with SMUD’s Energy Trading and Contracts team to mitigate and manage commodity and weather risks. Manage development of SMUD’s commodity budget and monthly assessment of key energy and commodity and credit risks. Assure the appropriate negotiation and structuring of contracts and credit support arrangements, and monitoring of credit exposures and events.
Work with SMUD’s Enterprise Risk Oversight Committee to establish appropriate risk limits and ensure compliance with all appropriate commodity, swap, future and other financial regulations and reporting requirements.
Provide leadership and direction on all aspects of Treasury management including the oversight of SMUD’s investment portfolio and commercial banking operations.
Provide analysis, evaluation and ultimately recommendation to executive management regarding projects requiring significant capital commitments or posing significant risks to SMUD.
Oversee the development and implementation of the enterprise wide risk management process to identify, evaluate and report on existing risks and ongoing solutions to mitigate risk in an integrated manner.
Minimum Qualifications SMUD has built a strong financial position, and enjoys some of the highest credit ratings of publicly-owned utilities in California. We’re seeking a strong leader and Treasurer to continue to drive SMUD’s fiscal strength. The ideal candidate will be an accomplished, strategic financial leader with strong social leadership skills, who has led professional teams in structuring and pricing debt or commodity instruments, swaps, derivatives, futures contracts, or related transactions. Ideally, the ideal candidate will have experience with the principles of risk management, including measurement, assessment, reporting and mitigation of financial, commodity, credit and insurance risks. Candidate will have demonstrated success in influencing senior management and key stakeholders and establishing credibility as an astute business leader. Candidate will have a minimum of seven years of experience in financial commodity markets, Treasury operations or Risk Management operations and at least five years in a leadership capacity.
Candidates should also:
Possess exceptional communication skills and a strong track record of successfully translating complex financial information into strategic action.
Bring a strong knowledge of investment practices, economic analysis of projects and programs, principles of financial forecasting, accounting and budgeting.
Have demonstrated ability to work across an organization to establish corporate strategic plans and objectives.
Licenses/Certificates Education: BS/BA degree from an accredited college or university majoring in Finance, Accounting, Business, Economics, Engineering, Mathematics, Statistics or related field
Additional Posting Info for Candidate SMUD Title: Director of Treasury and Treasurer
Removal Date 01-Jan-2019