Credit and Investment Officer
Our current opening is for a Credit & Investment Officer to join our Investment team. We are looking for a team member that can use their investment knowledge and financial industry experience to perform highly specialized financial analysis to support King County’s investment and credit policy decisions. This position will also serve as a key advisor on financial matters to the County’s Executive Finance Committee (EFC), Credit Committee and to Finance & Business Operations Division’s (FBOD) investment management team. This position’s primary responsibility will be to provide expertise on all matters related to credit risk exposure of the King County Investment Pool (KCIP). The position’s duties will be to collaborate with the Chief Investment Officer and Portfolio Manager in administering and managing the KCIP and administering the KCIP’s short-term liquidity position.
About the job:
The Credit & Investment Officer will conduct fundamental fixed income credit research, prepare highly specialized reports, oversee the development of complex credit models, monitor appropriate economic, industry and credit news and events, and present such critical information to FBOD’s investment team, Credit Committee, and EFC members. Additionally, the Credit & Investment Officer will ensure sufficient cash is available to meet daily expenditures, and accurately report on the KCIP’s activities to participants, senior county management, and oversight committees. This position will work in partnership and backup the Chief Investment Officer and Portfolio manager in managing the KCIP and will oversee and monitor the credit list.
With over $8 billion under management, the KCIP is the second largest local investment pool in the state of Washington and in the top 20 nationally, and over the last three years the KCIP has distributed a total of $430 million in earnings to participants.
Our Treasury Section collects, distributes, and invests property taxes and other public revenues, as well as manages long term debt payments, for King County and other taxing districts. Treasury Operations
The Finance and Business Operations Division's mission is to provide exceptional customer value for accounting, procurement, treasury, and small business services. We are actively seeking employees whose behavior is in alignment with our division's core values: Respect, Teamwork, Results, and Innovation. Our Division
Scope of Job Duties: To be considered for this opportunity, you must at a minimum, demonstrate knowledge, skill, and ability to:
- Conduct complex fundamental credit analysis including but not limited to default risk, spread risk, market liquidity risk, capital structure, seniority rank, etc.
- Act as the key advisor on credit issues for FBOD and recommend new credits to the investment team and appropriate committees by presenting highly specialized reports both in writing and verbally.
- Perform ongoing due diligence and monitoring of credit positions in the KCIP and key comparable credits in those industries. Communicate updates in a timely fashion (both written and verbal)
- Structure, implement, and maintain quantitative risk tools and financial models to complement advanced fundamental credit analysis
- Develop and prepare complex analysis that support policy recommendations
- Monitor global and national financial conditions and collaborate with the investment team to meet objectives of the KCIP investment policy
- Conduct relative value of fixed income investment opportunities by interpreting risk-reward parameters including market drivers of bond performance and the value of available alternatives
- Participate as a member of the investment team that manages the KCIP, and in the absence of other team members, possess sufficient investment knowledge to assume responsibility for making investment decisions within policy and legal guidelines
- Ensure that multimillion-dollar transactions are accurately transmitted and settled
- Help ensure the KCIP always maintains sufficient liquidity to meet all cash demands
- Prepare monthly performance reports of the KCIP that are relied on by FBOD’s investment team and Executive Finance Committee
- Professional experience in fixed income credit analysis, investment instruments, and financial reporting
- Demonstrated ability to understand financial statements, cash flow analysis and credit agency reports
- Knowledge and understanding of financial markets and the investments security settlement process
- Professional experience in financial management, securities investment, accounting, or banking
- Strong understanding of the various characteristics and calculations related to fixed income securities
- Previous experience working with investment systems such as Bloomberg, BondEdge, Yield Book, Clearwater, etc.
- Strong communication, interpersonal, writing and customer service skills
- Skill in understanding political situations that might arise from policy decisions
- Ability to perform research, analyze and solve problems
- Ability to work individually and collaboratively as a team member
- Ability to think differently, are eager to try new things and challenge yourself to improve processes
- Intermediate level of technology proficiency using MS Office Productivity tools in your daily work
- Ability to manage your time and adapt to changing priorities, work on multiple priorities and projects simultaneously, meet quick deadlines, and produce timely and quality work products
- Ability to uphold our Division’s values
- Ability to work in a remote work environment
We would love it if you have:
- CFA Charter or currently participate in the program
- Education with a major in Finance, Economics, Mathematics, Accounting, Business, Quantitative Methods, or a closely related field
- Advanced technical skills in Microsoft Excel
- Knowledge of quantitative methods, statistics, mathematics, economics, etc.
- Experience with LEAN processes and principles
- Experience with SharePoint, MS Teams, and other collaborative online tools
Who may apply:
The recruitment for this position is open to all qualified candidates. Applicants from this recruitment may be used to fill future opportunities in this job classification.
Other Position Information:
This position is exempt from the provisions of the Fair Labor Standards Act and is therefore not overtime-eligible. Employees are paid on a bi-weekly schedule, every other Thursday, comprising a 40-hour workweek; this position starts at 6:00 a.m., Monday through Friday. This position is not represented by a union. The job classification for this role is a Business and Finance Officer 4. This position will work remotely via telework and may be required to occasionally report onsite.
The Application Process:
A completed King County application, a resume, and a Letter of Interest detailing your background and describing how your experience qualifies you for this position are required.
- The first screening of applications will take place on Wednesday, January 19th.
Temporary Teleworking Requirement:
The work associated with this position will be performed predominantly by teleworking complemented with onsite work and meetings as needed. Employees will have access to shared workspaces at various King County facilities.
Employees must reside in Washington state and within a reasonable distance to their King County worksite to respond to workplace reporting requirements.
Employees will be provided with a County issued laptop and must maintain a workspace with an internet connection (access may be supplemented in some situations) where they can reliably perform work and remain available and responsive during scheduled work hours. Please note that when an employee conducts work that is likely to bring them in contact with another individual, safety precautions are required, including the wearing of masks in some situations. King County is doing its part to reduce the spread of COVID-19 and remains committed to reducing our carbon footprint.
King County has a robust collection of tools and resources to support working remotely. The individual selected for this opportunity will be joining an innovative and progressive team that is redefining how we work as we transition to the department's hybrid environment.
If you have any questions or concerns while applying, please contact:
Liz Callahan, Recruiter
Note: Online applications are preferred. However, if you cannot apply online, go to www.kingcounty.gov/jobs for other options.
Forbes recently named King County as one of Washington State's best employers.
Together, with leadership and our employees, we're changing the way government delivers service and winning national recognition as a model of excellence. Are you ready to make a difference? Come join the team dedicated to serving one of the nation's best places to live, work and play.
Guided by our "True North", we are making King County a welcoming community where every person can thrive. We value diversity, inclusion and belonging in our workplace and workforce. To reach this goal we are committed to workforce equity. Equitable recruiting, support, and retention is how we will obtain the highest quality workforce in our region; a workforce that shares and will help advance our guiding principles--we are one team; we solve problems; we focus on the customer; we drive for results; we are racially just; we respect all people; we lead the way; and we are responsible stewards. We encourage people of all backgrounds and identities to apply, including Native American and people of color, immigrants, refugees, women, LGBTQ+, people living with disabilities, and veterans.
COVID-19 Vaccination Requirement
King County Executive Branch employees are required to be fully vaccinated against COVID-19. If you are the successful candidate for the position you applied for, the County will send you a conditional offer letter.
As a condition of employment, prior to a final offer of employment, you will be required to:
People are considered fully vaccinated against COVID-19 two weeks after receiving the final dose of a vaccination approved by the Center for Disease Control and Prevention (CDC).
The Executive Branch includes employees in the Executive branch, the Assessor's Office, Elections, the King County Sheriff's Office, and the Executive Office.
King County is an Equal Employment Opportunity (EEO) Employer
No person is unlawfully excluded from employment opportunities based on race, color, religion, national origin, sex (including gender identity, sexual orientation and pregnancy), age, genetic information, disability, veteran status, or other protected class. Our EEO policy applies to all employment actions, including but not limited to recruitment, hiring, selection for training, promotion, transfer, demotion, layoff, termination, rates of pay or other forms of compensation.
If you are interested in pursuing this position, please follow the application instructions carefully. If you need this announcement in an alternate language or format, would like to request accommodation or assistance in the application or assessment process or if you have questions please contact the recruiter listed on this job announcement.
- submit proof of vaccination, or
- have an approved request for medical or religious exemption and an approved accommodation. Philosophical, political, scientific, or sociological objections to vaccination will not be considered for an exemption or accommodation.