INVESTMENT OFFICER I/II
Class specifications are intended to present a descriptive list of the range of duties performed by employees in the class. Specifications are not intended to reflect all duties performed within the job.
Under general supervision (Investment Officer I) or general direction (Investment Officer II), performs a variety of professional level duties within the City Treasurer’s Office including utilizing discretion in maintaining adequate bank balances to cover expenditures and invest surplus cash considering both short-term and long-term cash flow needs; overseeing the City’s investment program; administers and manages the City’s investment portfolio in accordance with legal guidelines; coordinates and participates in the bank selection process; performs bond administration duties including reconciling bond trustee statements; tracks assessment district activities; coordinates assigned activities with other divisions, departments, and outside agencies; and prepares and maintains a variety of investment, bank, and bond records and reports.
Investment Officer I: This is the entry level class in the Investment Officer series. Positions at this level are not expected to function with the same amount of program knowledge or skill level as positions allocated to the Investment Officer II level and usually exercise less independent discretion and judgment in matters related to work procedures and methods. Work is usually supervised while in progress and fits an established structure or pattern. Exceptions or changes in procedures are explained in detail as they arise. Incumbents at this level are expected to learn the full range of responsibilities and perform duties with an increasing level of independence. Advancement to the “II” level is based on demonstrated proficiency in performing the assigned functions and is at the discretion of higher level supervisory or management staff.
Investment Officer II: This is the full journey level class in the Investment Officer series. Positions at this level are distinguished from the Investment Officer I level by the performance of the full range of duties as assigned, working independently, applying well developed investment knowledge, and exercising judgment and initiative. Positions at this level receive only occasional instruction or assistance as new or unusual situations arise, and are fully aware of the operating procedures and policies of the work unit. Work is normally reviewed only on completion and for overall results. Positions in this class series are flexibly staffed and positions at the Investment Officer II level are normally filled by advancement from the Investment Officer I level.
The following duties are typical for this classification. Incumbents may not perform all of the listed duties and/or may be required to perform additional or different duties from those set forth below to address business needs and changing business practices.
- Oversees the City’s investment program including monitoring and analyzing of financial market conditions and current market yields to prudently invest City funds; selects investment security purchase transactions; inputs and reconciles all investment transactions into the City’s investment software program.
- Prepares a variety of quarterly and monthly investment reports for the City Manager and/or City Council; establishes and prepares annual Investment Policy for adoption by City Council; coordinates Investment Sub-Committee Meetings as necessary; establishes agenda, submits to City Manager’s Office for posting, and presents designated items to the board.
- Develops the Broker/Dealer Questionnaire (selection process for new investment brokers) as necessary; reviews, analyzes, summarizes results, and makes recommendations based on conclusions.
- Performs a full range of banking duties including queue for daily bank reports; verifies bank totals and determines cash flow needs; transfers money to or from the City’s general bank account as necessary.
- Processes bank related transactions such as outgoing bank wire payments and stop payments.
- Establishes the banking request for proposal (RFP) as necessary; reviews, analyzes and summarizes the results of the RFP.
- Performs bond administration duties; tracks bond activity including payments, receipts and arbitrage; reconciles monthly bond trustee statements and processes journal entries; prepares annual fiscal-year-end reconciliation and auditor’s schedules of all accounts relating to bond debt; prepares and processes bond related reports.
- Prepares short and long-term cash flow analysis to ensure potential City debts are covered.
- Tracks assessment district activity, including preparation of annual assessments; prepares and processes necessary journal entries; reports special tax assessments to the County of San Diego; signs parcel maps for the City Treasurer regarding the section of property tax assessments.
- Performs cash flow forecasting as necessary.
- Monitors, develops, and implements measures to ensure compliance with various legislative, accounting, and financial reporting requirements including statues pertaining to the investment of public funds.
- Participates in the development and administration of assigned budgets; submits budget recommendations; monitors expenditures.
- Provides responsible, professional, and technical assistance in the development, administration, and implementation of City and department programs including the investment policy.
- Responds to requests from the City Council, City staff and the public for research and information regarding Treasurer’s policies, investment, assessment, and bond information.
- Coordinates work efforts and acts as the City Treasurer’s liaison with the Finance Department and all other City departments to ensure continuity.
- Works closely with Finance Department regarding establishment and ongoing status of policies and procedures.
- Establishes and maintains professional working relationship with all banks and brokers.
- Stays abreast of legislative and regulatory actions pertaining to cash management and debt administration.
- Performs related duties as required.
The following generally describes the knowledge and ability required to enter the job and/or be learned within a short period of time in order to successfully perform the assigned duties.
- Theory, principles, practices, and policies of a treasury program.
- Advanced principles and practices of financial and governmental accounting.
- Market statistics, indexes and various market terminology.
- Principles and practices of banking, bond financing, and investment strategy.
- Principles and procedures of financial record keeping and reporting.
- Principles and practices of municipal budget preparation and administration.
- Office procedures, methods, and equipment including computers and applicable software applications such as word processing, spreadsheets, and databases.
- Principles and practices of customer service.
- Pertinent federal, state, and local laws, codes, and regulations.
- Oversee the City’s investment program and debt.
- Initiate, process, and post journal entries for all bond debt funds and accounts.
- Perform cash flow analysis.
- Analyze economic data and financial market conditions and recommend and administer investment strategy.
- Analyze problems/issues and recommend alternative solutions.
- Prepare, analyze, evaluate and interpret financial statements and investment reports.
- Perform complex accounting and financial reporting.
- Perform research and analysis.
- Operate office equipment including computers and supporting word processing, spreadsheet, and database applications.
- Adapt to changing technologies and learn functionality of new equipment and systems.
- Ensure compliance with applicable bond and investment laws.
- Prepare clear and concise administrative, investment, and financial reports.
- Participate in the preparation and administration of assigned budgets.
- Work cooperatively with other departments, City officials, and outside agencies.
- Respond tactfully, clearly, concisely, and appropriately to inquiries from the public, City staff, or other agencies on sensitive issues in area of responsibility.
- Demonstrate an awareness and appreciation of the cultural diversity of the community.
- Communicate clearly and concisely, both orally and in writing.
- Establish and maintain effective working relationships with those contacted in the course of work.
Education and Experience Guidelines - Any combination of education and experience that would likely provide the required knowledge and abilities is qualifying. A typical way to obtain the knowledge and abilities would be:
Investment Officer I/II
Education/Training: A Bachelor’s degree from an accredited college or university with major course work in finance, accounting, public administration, business administration, or a related field.
Investment Officer I
Experience: Two years of increasingly responsible financial analysis or accounting experience. Experience with governmental investments is highly desirable.
Investment Officer II
Experience: Five years of increasingly responsible financial analysis or accounting experience. Experience with governmental investments is highly desirable.
PHYSICAL DEMANDS AND WORKING ENVIRONMENT
The conditions herein are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential job functions.
Environment: Standard office setting. CONTINUOUS working indoors, dust from paperwork. Work schedule is 9/80 with alternating Fridays off in a biweekly period. Work environment is both formal and informal, team oriented, having variable tasks, pace, and pressure. Physical: Primary functions require sufficient physical ability to work in an office setting and operate office equipment. CONTINUOUS sitting and upward and downward flexion of neck; fine finger dexterity; light to moderate finger pressure to manipulate keyboard, equipment controls, and office equipment; pinch grasp to manipulate writing utensils. FREQUENT side-to-side turning of neck, walking, standing, bending, stooping, pushing/pulling, and twisting at waist; moderate wrist torque to twist equipment knobs and dials; lifting objects weighing up to 10 lbs. from below waist to above shoulders and transporting distances up to 50 yards. OCCASIONAL squatting, kneeling, and reaching above and at shoulder height; moderate grasp to manipulate reference books and manuals; lifting objects weighing 11-25 lbs. from below waist to above shoulders and transporting distances up to 50 feet.
Vision: See in the normal visual range with or without correction; vision sufficient to read computer screens and printed documents and to operate equipment.
Hearing: Hear in the normal audio range with or without correction.
Revised: May 2009
Date: April 2003
Johnson & Associates