Financial Analyst I

Agency: Governor's Office of Management and Budget
Closing Date/Time: 04/15/2024
Salary: $5,375 - $6,875 monthly
Job Type: Salaried Full Time
County: Cook
Number of Vacancies: 1
The Governor's Office of Management and Budget is seeking to hire either a Financial Analyst or senior Financial Analyst. The Financial Analyst or Senior Financial Analyst will work within the State of Illinois' capital markets group and will be the lead/co-lead analyst for the State's $30 billion debt portfolio. This challenging position is a great opportunity for someone that is passionate about municipal bonds and public finance to develop a deep understanding of the State's bond programs and the complexities of the State's credits. Job duties include, but are not limited to:

• Developing strong working understanding of General Obligation and Build Illinois bond programs.
• Analyzing and reporting on a variety of outstanding credits: general obligation bonds, sales tax revenue bonds, tobacco bonds, variable rate bonds and swaps.
• Understanding the flow of funds that varies for each credit.
• Understanding the state's budget and all of the information contained within the official statement.
• Calculating yield, interest payments, present value, and other key metrics for bond sales.
• Attending drafting sessions as required for State debt transactions.
• Being fluent in ongoing matters of state debt administration including monthly transfers required under statute, Federal rebate requirements, and state accounting requirements such as GAAP reporting.
• Strong understanding of the State's authorizing bond acts and State Finance Act, in particular, the continual status of authorization under each of the issuing purposes.
• Working closely with the capital planning and development group to identify the appropriate bond sale timing to ensure orderly continuance of the State's capital expenditures needs.
• Understanding of the State's peer group issuers in matters of debt ratings and key economic indicators which determine rating agency reviews.
• Strong understanding of capital markets bond math, with capability to model straight-forward bond projected bond financing plans.
• Examining and making alternative bond structure recommendations in respect to new proceeds issuances and refinancing of existing state debt.
• Evaluating RFP/RFQs from underwriters, municipal advisors and other vendors to maximize the State's ability to achieve the lowest possible borrowing costs.
• Working with bond counsel and state agencies to ensure compliance with IRS law.
• Analyzing budgets for state bond Authorities.

EDUCATION AND EXPERIENCE
Candidates must have, at a minimum, a Bachelor's degree in a field demanding strong analytical capabilities and strong writing skills. Degrees or experience in finance, economics, public administration, accounting, or a related discipline with an economic or quantitative emphasis are preferred. A Master's degree is preferred in the case of the Senior Financial Analyst.
In addition, we are seeking a candidate with the following skills and interests:

• At least two years of experience preferred (three years in the case of a Senior Financial Analyst) in either:
  • Public finance at an investment bank, rating agency, financial/municipal advisory firm, a law firm serving the public issuing community, or with a large or frequent governmental issuer of debt, or
  • Analytical work for State of Illinois in the area of budgeting, financial reporting, accounting, or a related area.
• Strong analytical capabilities to create cash-flow projections and design ad-hoc monitoring systems for unique transactions. Software fluency must include Microsoft Excel, Word and Power-point. Experience with Microsoft Access or SQL is desirable or VBA.
• Good writing and outline development skills to quickly assess and report on developing situations and communicate complex ideas to audiences whose skills and experiences lie in other areas.
• Ability to communicate clearly, briefly, and effectively verbally or in writing, often under time pressure and with competing demands.
• Ability to accommodate a broad spectrum of communication and topic experience levels with respectful customer service orientation.
• Must have a strong interest in understanding the legal and mathematical aspects of the capital markets.

• A commitment to public sector involvement and to public policy issues, and an understanding of or a willingness to learn the policy-making process;
• Ability to conduct sound and detailed analyses from both a programmatic and a fiscal perspectives;
• Ability to work in high-paced, fluid environment, providing accurate information frequently on very short timelines;
• Ability to handle multiple tasks, and projects;
• Ability to interact well with agency representatives, constituents, and legislative and Governor's Office staff;
• Pro-active approach to work, to develop appropriate areas for analysis, to identify problems before they form and to offer solutions.

Work location

• This position is based in Chicago; occasional overnight travel is required.

SALARY/COMPENSATION AND POSITION CLASSIFICATION
Salary and position classification will be determined based on the level of experience when a job offer is made. Individual salary offers are computed based on an applicant's current position and experience level in comparison to the posted title as well as internal equity of staff in the organizational unit.
Submit resumes by mail, fax, or e-mail.
E-mail: jobs.omb@illinois.gov
Attention Personnel:
603 Stratton Building
Springfield, IL 62706
Fax: 217-524-4876
Job Responsibilities
Knowledge, Skills, and Abilities
Physical Requirements
Employment Conditions
Education Degree
Education Major
NON DISCRIMINATION POLICY
Equal employment opportunity is the policy of GOMB. All employees hired and promoted have been and will continue to be selected from all candidates on the basis of qualifications necessary to perform the job well. The GOMB does not discriminate against any person, employee, or job applicant on the basis of race, color, religion, sex, age, sexual orientations, national origin, disability, marital status, or status as a disabled veteran of the Vietnam era, in accordance with applicable laws. This policy applies to all recruiting, hiring promotions, layoffs, compensation, benefits, terminations and all other terms and conditions of employment.