Municipal Surveillance Associate/AVP - Healthcare and Higher Education Sectors

New York, NY, United States

Position Summary

Assured Guaranty is seeking a candidate to join the Municipal Surveillance team at the AVP/Associate level to join the U.S. Public Finance Surveillance team. This employee would be responsible for assisting in the monitoring, managing and reporting for a large portfolio of U.S. Public Finance credits, primarily within the health care and higher education sectors; work includes: (a) performing quantitative and qualitative credit analysis, (b) interacting with the management teams of hospitals and higher education institutions as well as their legal counsels, bankers and financial advisors, (c) collection, organization and management of data from various sources, (d) preparing monthly credit reports/updates, (e) handling of transaction amendments/waivers/consents, and (f) ad hoc projects related to the portfolio and/or sectors.

Primary Responsibilities
  • Monitor/evaluate credit quality and sector trends with respect to credits in Assured’s municipal health care and higher education portfolios, consisting primarily of not-for-profit hospitals/health systems as well as public and private colleges/universities
  • Key analysis includes in-depth, analytical review of operating and financial data/metrics/trends collected for specific credits
  • Additional quantitative and qualitative review of industry/market trends is expected, as needed, for review of credits and the sectors
  • Participate in and/or conduct meetings and/or lead conference calls for credit updates and/or regarding surveillance issues, with hospital management teams/ higher education administrators, financial advisors, bankers, attorneys and/or others key constituents
  • Prepare monthly written reports and presentation materials on select credits and the sectors, identifying significant issues and providing a rationale for internal rating recommendations
  • Present internal reviews and rating recommendations to senior management at monthly meetings
  • Monitor distressed credits and report on them quarterly to senior management, as needed
  • Manage/assist in oversight/maintenance of internal databases to monitor credit exposure, capture annual data metrics related to specific credits, and track industry trends/any credit risk deterioration
  • Process requests for transaction amendments, waivers and consents, including negotiation of revised terms, preparation of memos/reports for internal approvals, and related administrative actions
  • Assist in the preparation of ad-hoc reports for senior management to disclose the impact of events related to specific credits, the overall health care and/or higher education sectors as well as to the security of related municipal bonds insured by Assured
  • Coordinate on special projects with other internal departments or groups

Candidate Background
  • Minimum 2 to 6 years of relevant experience
  • Bachelor’s degree in accounting, economics, business or hospital and/or higher education administration/finance is required; a master’s degree is a plus but not required
  • Prior analytical experience within a rating agency, bond insurer, hospital, higher education institution, healthcare/higher education consulting firm, or healthcare/higher education sector experience within the municipal finance team of an investment/commercial bank, financial advisor or investment management firm is preferred
  • Solid quantitative and analytical skills, with particular emphasis on hospital and/or higher education finance/credit analysis
  • Proficiency with financial statement analysis, both FASB-based and GASB-based
  • Experience with financial/cash flow modeling/forecasting
  • Sound understanding of the not-for-profit hospital and/or higher education sectors as well as municipal bond market
  • Solid interpersonal and communication skills, both written and oral, with the ability to convey information in a concise manner
  • Self-starter, with good time management skills and ability to take initiative, who can work independently as well as work closely with a team in a collaborative and dynamic environment
  • Detail orientation and effective organization skills is a must
  • Proficiency in using external software (e.g., Excel, Word and PowerPoint) and in conducting research using various sources of information (e.g., EMMA, Bloomberg), both which are necessary to gather data and streamline work processes, is necessary
  • Ability to quickly learn to navigate internal IT systems
  • Experience in working with management teams of hospitals and/or higher education institutions as well as their legal and financial advisors is preferred

Compensation

Annual base salary for the position is expected to be from $95,000 per year to $135,000 annually. The actual salary will depend on various factors, including but not limited to, a candidate’s experience and credentials, salary expectations of applicable candidates, and other applicable market conditions. This position also provides applicable employee benefits, as well as eligibility for an annual discretionary bonus.

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The term "immediate family member" of a person means the person’s child, stepchild, parent, stepparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, sister-in- law and any other person (other than a tenant or employee) sharing the household of the specified person. Immediate family members are: (1) only those persons who are currently related to the person (e.g., a person who is divorced from a person's daughter would no longer be a son-in-law of that person); and (2) only those persons who are related by blood or step relationship to the person or his or her spouse (e.g., the sister of a person's spouse is considered a sister-in-law; the sister’s spouse, however, is not considered an in-law).

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IAR: An accounting role is a role in which a person is in a position to, or does, exercise more than minimal influence over the contents of the accounting records or over anyone who prepares the accounting records, such as individuals in clerical positions responsible for accounting records (e.g., payroll, accounts payable, accounts receivable, purchasing, sales) as well as individuals who report to people in financial reporting oversight roles (assistant controller, assistant treasurer, manager of internal audit, manager of financial reporting). Individuals in a financial reporting oversight role are also in an accounting role.

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