Deputy CFO/Treasurer

City of Detroit, MI

VIEW TREASURER RECRUITMENT BROCHURE HERE: https://detroitmi.gov/sites/detroitmi.localhost/files/2022-08/Treasurer…

DESCRIPTION
The Office of the Chief Financial Officer (OCFO) is seeking to fill the executive-level Deputy Chief Financial Officer/ Treasurer position that, under the direction of the Chief Financial Officer (CFO), leads and manages the Office of the Treasury. The OCFO is the centralized financial management department for the City of Detroit.

The mission of the Office of the Treasury is to effectively, timely and accurately collect and record all taxes, special assessments, fees and other monies received by the City of Detroit; act as the custodian of all funds and other assets belonging to the City; and disburse all funds as authorized by the City CFO/Finance Director. Further, the Office of the Treasury issues and manages the City’s general fund debt obligations and provides and manages low-cost debt financing of large-scale, long-term capital projects and improvements. Delegated by the CFO, the Treasurer is responsible for administration and oversight of Investments and Investments Management.

The Deputy CFO/ Treasurer leads all planning, strategies, and initiatives within the Office of the Treasury, including primary functions such as Income Tax, Preparation of Property Tax Roll, Distribution of Tax Bills, Operations of Detroit Taxpayer Service Center, Cash Management, Accounts Receivable, and Debt Management, among others. Under the present organizational chart of the Office of the Treasury are two branches each led by a Deputy Director of Treasury: the Tax Division which directs and oversees Tax Policy and Compliance, Property Tax, Detroit Taxpayer Service Center, and Tax Accounting; and the Operations Division which directs and oversees the Revenue Collections, Debt Management, and Cash Management.

The Deputy CFO/ Treasurer ensures compliance with all rules and regulations governing Treasury activities in the City including federal and state laws, and City ordinances, including the City Income Tax Act and the General Property Tax Act; other Michigan State Laws; and the City of Detroit Charter.

The Deputy CFO/ Treasurer is one of several executive-level positions within the OCFO. The Deputy CFO is an at-will position and the incumbent is appointed by the Chief Financial Officer. Subordinates of the Deputy CFO/ Treasurer include a budget of nearly 60 staff of a full range of executives, managers, supervisors, professionals, and paraprofessionals.

INTRODUCTION
Under policy direction, incumbents in these positions function at the executive level of department management and are responsible for all functions and activities of a major division or area; provide leadership and direction in developing new programs and establishing organizational policies, priorities and objectives; direct and coordinate the implementation of program changes; serve as technical advisor; and perform related duties as required. This is executive level work directing the operation of the Office of the Treasury.

This appointed position plans, develops, implements, and evaluates a program designed to provide analysis and advice to the Executive departments and agencies and Chief Financial Officer. In carrying out this responsibility, the incumbent develops policies and programs by directing subordinate managers to: direct financial planning, procurement and investment of funds for the City and exercise authority for receipt, disbursement, banking, protection and custody of funds, securities and financial instruments as well as, maintain the City’s liquidity, investments and mitigate risks related to treasury activities. The work is performed under broadly defined missions and functions and general administrative direction.

The employee exercises full and final accountability for all matters associated with completing work assignments including determining the work to be performed and the methods used. Results of the work are considered technically authoritative and evaluated in terms of the effectiveness of the advice in meeting the Chief Financial Officer and Mayor’s objectives. Primary attributes of the a successful application will include capabilities related to: revenue collection and enforcement, management of relationships with the State of Michigan Department of Treasury in matters related to City Income Tax collection and administration; taking custody of all City funds, managing and investing City cash accounts, managing and planning debt issues and disbursement of funds to meet debt service payments, developing and maintaining good banking and investment banking relationships, creating and managing processes and procedures necessary to maintain the financial integrity of the operation of the Office of Treasury and to allow the timely and accurate reporting of interim and annual financial results, and making recommendations of appropriate financing techniques. The work of directing the management of the Office of Treasury is essential to the mission of the City Government and affects all departments and residents in the City.

The employee frequently has contact with high ranking legislative and executive officials within City, County and State Government, officials of equivalent rank in other governmental jurisdictions, and private sector and community organizations or groups. The purposes of the contacts include presenting, justifying and defending positions where conflicting and opposing viewpoints, goals and objectives are advocated and must be reconciled to develop suitable alternatives or arrive at acceptable compromises. External stakeholder relationships include the Michigan Department of Treasury, the Wayne County Treasurer, the Internal Revenue Services, other government entities, banks, custodians, rating agencies, broker dealers, underwriters. Financial advisors, investment advisors, external auditors, bond counsel, and taxpayers. Internal stakeholder relationships include other City Departments, Executive Departments, the Mayor’s Office, the Chief Financial Officer, and the Deputy CFOs of other OCFO Divisions.

Guidelines consist of broad policy directives and basic legislation and require the employee to use considerable judgment in interpreting the intent of the guidelines and generating specific policies and guidance for use by subordinate managers in developing various components of the City's programs. The complexity of the work is reflected in the need for planning, directing and integrating budgeting and program planning processes covering a broad range of government functions, programs and services. The work requires consideration of all aspects of City and County Government operations as well as community issues and impacts, and development of solutions that accommodate conflicting objectives from a variety of organizations, groups and individuals.

EXAMPLES OF DUTIES
Develops and implements division goals, objectives, policies, and priorities (including service levels and resource allocation)
Monitors the efficiency and effectiveness of the departmental organization structure, staff assignments, service levels and administrative systems
Directs subordinate staff of executives, managers, supervisors, professionals, and paraprofessionals conducting various levels of duties within the Office of the Treasury, and including the selection of managers or other high-level staff
Adjusts plans and programs to meet emerging or new programs, while continuing to address major departmental priorities
Serves as the main banker for the City and ensures the safekeeping of all cash assets, including managing liquidity and investments in accordance with State laws
Leads teams responsible for the collection and disbursement of all City revenue
Leads a team responsible for City-wide billing and collection of delinquent revenues, including issuing “Clearances” to vendors and others doing business with the City
Ensures the timely and accurate bi-annual billing, collection, accounting and distribution of Property Taxes in accordance with State law
Leads a team of front-line customer service staff who provide email, phone and in-person support to Detroit property owners
Manages and monitors the Income Tax Administration agreement between the City and State Treasury, directs income tax discovery programs and accounts for all income tax revenue
Leads enforcement and compliance actions on various tax types including Utility User Tax, Wagering Tax and Delinquent Property Tax as it relates to Special Act properties (IFT, OPRA, CRA)
Leads the Debt Management team who ensures compliance with all debt covenants and disclosure requirements, and work with the City’s Municipal Advisor, bond counsel, underwriters and rating agencies on updates and issuances.
Ensures the timely and accurate accounting and reporting for all major revenues, cash and debt transactions. Includes monthly reporting as well as significant input into the annual financial statement audit.
Communicates regularly with executive-level management regarding the Division's activities and coordination of efforts with other City departments in addressing the needs of the City
Represents the Office of Treasury before legislative boards, outside organization Mayor's Office staff and the media
Holds an ex-officio position on both the General and Police and File Retirement Systems

MINIMUM QUALIFICATIONS
Bachelor's degree from an accredited college or university with major course of work in business administration, finance, accounting, or a closely related field. Master’s or other advanced degrees/CPA preferred.

Minimum of five years of experience in leading treasury related operations in a leadership role, preferably with local, state, or federal government agencies. Minimum of three (3) years of experience in a management or supervisory capacity.

As a basic requirement for entry into the Executive Service (ES), applicants must show in their resume evidence of progressively responsible leadership experience that is indicative of executive-level management capability.

KNOWLEDGE, SKILLS, AND ABILITY
Substantial Knowledge of:
Financial accounting, reporting, management and financial forecasting methods
Modern management principles and practices
Fiduciary, municipal and investment laws
Cash flow and revenue sources
Mechanics and operation of municipal securities market
Financial analysis and municipal investment laws
Cash collection procedures, cash investment process and market risk
Local government functions and organizations
Local, State and City rules and regulations including basic laws, ordinances and regulations

Advanced Skills in:
Managing the activities of personnel engaged in a division, including performance evaluations, hiring, discipline and coaching
Verbal and written communication sufficient to develop defenses of, and justifications for, decisions reached
Establishing and maintaining effective working relationships with other governmental and bi-county agencies, private organizations, the banking community and the general public
Handling conflict and uncertain situations
Presenting concise financial information to a variety of audiences
Use of large complex, multi-departmental financial systems

Significant Ability to:
Understand systems, processes and people and develop and implement solutions to problems
Establish and maintain effective working relationships with the CFO, Chief Deputy and Deputy CFOs of each office, Agency CFOs, Department Directors, City Council, other City employees and the general public
Develop, implement and administer goals, objectives and procedures for providing effective and efficient services for the City of Detroit
Attend meetings or perform other assignments at locations outside the office
Manage resources strategically within the respective office
Stay abreast of municipal and bond market trends and creative financing alternatives.

Reviewing of resumes will begin 9/1/22.

How to Apply

Email resumes to CODRecruitment@detroitmi.gov

Job Details

Salary
$127,000
-
$181,000
Job Function
Finance Director
Position Type
Full Time

City of Detroit

Address

2 Woodward Ave
Detroit, MI 48226-3437
United States

Population
671,000
Form of Government
Mayor-Council

Advertisement


2022 ICMA Annual Conference Content Available On-demand Through December 31!

In-person and digital attendees were emailed credentials for the conference online platform on 9/12/2022. New users can still register for on-demand access.

Watch Now

Put your job in front of the right people!

The Job Center is the best place to reach local government professionals. Post your featured job in minutes with more visibility through promoted search results, email, and more.

Post a Featured Job

Advertisement