Assistant Vice President/Vice President

Posted: Thursday, June 06, 2019
Location: New York

Department: U.S. Public Finance, Surveillance
Reports to: Managing Director, Public Finance
Direct report(s): No

General purpose of position


Responsible for helping to monitor, manage and report on a large portfolio of municipal health care credits; work includes performing credit analysis, preparing monthly reports, handling transaction amendments/waivers/consents and data management

Primary duties/responsibilities


• Monitor and evaluate credit quality and trends with respect to a large number of credits within Assured’s municipal health care portfolio, consisting primarily of not-for-profit hospitals
• Key analysis includes in-depth, analytical review of operating and financial data/trends collected for specific credits
• Review of other credit/operating factors, such as payor mix, market share, competition, service area demographics/dynamics and board/management characteristics, is required
• Additional qualitative review of industry/market trends is expected, as needed
• Prepare written reports on top exposures and “credits of concern” for senior management, identifying any significant issues and providing a rationale for internal rating recommendations
• Present internal rating recommendations to Assured’s Municipal Risk Management Committee at its monthly meetings
• Monitor distressed credits (i.e., below-investment grade (BIG) or “problem” credits) and, as needed, report on them quarterly to senior management; assist in workout scenarios, if needed
• Process requests for transaction amendments, waivers and consents, including negotiation of any revised terms, preparation of memos/reports for internal approvals, and related administrative actions
• Assist in oversight/management of internal databases to monitor credit exposure, capture annual data metrics related to specific credits, and identify industry trends / any credit risk deterioration
• Contribute further to the 100% review of the municipal health care portfolio annually, as needed
• On an ad-hoc basis, assist in the preparation of reports for senior management to disclose impact of news events related to specific credits, the overall health care market/industry as well as to the security of municipal bonds insured by Assured
• Contribute to Municipal Credit Committee meetings, providing credit opinions and performance assessment used in the evaluation of potential underwriting opportunities
• Coordinate on projects with other departments or groups including Underwriting, Credit Workout/Remediation, Legal or Reinsurance
• Conduct meetings and/or lead conference calls regarding surveillance issues with hospital management teams, financial advisors, bankers, attorneys and/or others key constituents

Specific skills, competencies, resources and/or software/technology used on the job


Solid quantitative and analytical skills, with particular emphasis on hospital and/or municipal finance/credit analysis preferred
• Proficiency with financial statement analysis, particularly FASB-based but also GASB-based
• Experience with financial modeling and forecasting is helpful
• Sound understanding of the not-for-profit hospital industry and municipal bond market is desired
• 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 desirable
• Proficiency in using external software (e.g., Excel, Word and PowerPoint) and sources of information (e.g., EMMA, Bloomberg) is necessary to gather data and streamline work processes
• Ability to quickly learn proprietary software and internal IT systems a must
Education, certifications and/or experience requirements
 

Education, certifications and/or experience requirements

Minimum 3 to 8 years of experience in relevant areas
• Bachelor’s degree in accounting, economics, business, or hospital finance is required; a master’s degree is a plus
• Prior analytical experience within a rating agency, bond insurer, hospital, healthcare consulting firm or the municipal finance team of an investment/commercial bank is preferred

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