174617 - Manager, Debt and Investments - Department of Finance and Affordability - Permanent

The Department of Finance and Affordability is committed to Equity, Diversity, Inclusion and Accessibility. Our goal is to build a public sector workforce that reflects the diverse communities we serve and to promote welcoming, diverse, inclusive, respectful workplaces that are accessible to all. We welcome all interested individuals including Indigenous People, persons with disabilities, Black, racialized, ethnic and culturally diverse groups, as well as people regardless of their sexual orientation, gender identities, and gender expressions. Those looking for more information are invited to visit our Equity, Diversity, and Inclusion Policy.

Reporting to the Director, Pensions and Capital Management, this role provides strategic and operational support for the management of provincial pension fund investments, debt programs, liquidity reserves, and cash flow operations. The position supports the Joint Investment Advisory Committee by coordinating governance activities, managing relationships with investment managers and consultants, and providing guidance to trustees. The role also contributes to debt management strategy, financial market analysis, lending programs, investment oversight, budgeting, and stakeholder relations with financial institutions, credit rating agencies, and other service providers to support the Province's treasury and pension management objectives.

Duties will include but are not limited to:

• Ensure senior management and members of the Master Trust’s Joint Investment Advisory Committee receive all reports needed to provide good governance and perform their roles as fiduciaries in the best way possible using the “Prudent Person Rule”.
• Monitor the activities of the service providers, in particular the investment managers to ensure that they are conforming to all aspects of the Master Trust’s SIP&P. Approve the instructions, resolutions and recommendations passed by the JIAC in relation to investment matters.
• Oversee the interview and hiring of any new fund managers or service providers that have been approved. This consists of understanding any new products, reviewing contracts, corresponding with lawyers, finalization and onboarding. As the plan has grown, the number of new fund managers, products and complexity has grown commensurate.
• Maintain current information and statistics on financial markets, yield curves, money markets, capital markets, and short-term and long-term provincial debt for use by the Department of Finance.
• Determine the optimal timing for Treasury Note and long-term debt issuance to minimize borrowing costs and stay within the budgeted interest amount, whilst maintaining liquidity and monitoring the term structure of debt (maturity profile).
• Follow the Financial Administration Act (FAA), ensure all the duties required in issuing provincial debentures, private placements, as outlined by internal policies/procedures are adhered to.
• Monitor total banking costs of the province and the participating entities to ensure they comply with the banking contract and within the budgeted amount.
• Monitor daily, weekly and monthly cashflow needs for all government entities that flow through the operating bank account to ensure there is enough cash to satisfy the demand so that undue interest expenses are not incurred. Move excess cash to short-term investment accounts to maximize investment revenue.
• Develops, in consultation with the Director and staff, the annual goals and objectives of the section, consistent with the Department of Finance’s mandate letter and strategic plan.
• Provides direction to staff in the development and implementation of services provided by the section.
• Regular contact with the Investment Community including reviewing daily reports for asset purchase and maturity opportunities.

Minimum Qualifications:

• Applicants must have a master’s degree in finance or business, or a Bachelor degree in finance or business and one of the following designations: Chartered Financial Analyst (CFA), Chartered Professional Accountant (CPA).
• Completion of additional relevant courses in the investment industry.
• Considerable senior level experience in the operation of government, its financial activities/processes.
• Considerable experience in investment administration.
• Demonstrated excellent interpersonal, collaborative, and team building skills.
• Excellent oral, written, and presentation communication skills.
• Demonstrated ability to present and communicate to senior leaders and pension/investment committees.
• Demonstrated ability to use word processing, spreadsheets, Finance information systems, presentation software, email, and other related platforms.
• Collaborative problem solver and manager, as well as the ability to take direction when required.

Other Qualifications:

• Pension Plan Administration Certificate (PPAC) certification would be an asset.
• Chartered Alternative Investment Analyst (CAIA) certification would be an asset.
• Financial Risk Manager (FRM) designation would be an asset.
• Certified in Investment Performance Measurements (CIPM) would be an asset.

This competition may be used to fill future job vacancies.

Please Note: Please ensure the application clearly demonstrates how you meet the noted qualifications as applicants will be screened based on the information provided. We would like to thank all applicants for their interest; however, only those who are selected for an interview will be contacted.

Where possible, submitting an electronic resume or job application is preferred. Otherwise, please return forms to PEI Public Service Commission, P.O. Box 2000, Charlottetown, Prince Edward Island, C1A 7N8. Applications may be sent by fax to (902) 368-4383. IT IS THE RESPONSIBILITY OF THE APPLICANT TO CONFIRM RECEIPT OF THE APPLICATION, BY TELEPHONE OR IN PERSON PRIOR TO THE CLOSING DATE. Please ensure that the appropriate Posting ID number is stated on all application forms. You can apply online or obtain an application form by visiting our web site at www.jobspei.ca. Forms may also be obtained by contacting any PEI Government office, ACCESS PEI Centre, Regional Services Centre, or by telephone (902) 368-4080.

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