Deputy Treasurer at The Port Authority of NY & NJ – New York, New York

About the Role

The Port Authority is seeking a dynamic and strategic Deputy Treasurer to be a thought leader and innovator in the areas of treasury, insurance, and risk finance transfer strategies. Together with the Treasurer, the Deputy Treasurer will execute the Treasury Department's vision to assist the Agency in making smart decisions for long-term financial stability and growth through critical thinking, analytical rigor, technical capabilities and developing strategic partnerships. The Deputy Treasurer role is a newly established position seeking a strategic, critical-thinking leader. This individual will need to excel in team and people management, demonstrate strong financial expertise, possess outstanding problem-solving abilities, and have experience in change management. The ideal candidate will be driven to foster continuous improvement, enhance efficiency, and drive innovation within the finance strategy and operations.

Background

The mission of the Treasury Department is to carry out essential financial and risk management functions which enable the Port Authority to fulfill its business objectives. Specifically, Treasury contributes to the long-term financial stability of the Agency by accessing the capital markets as needed to fund and finance capital projects, ensuring the Port Authority's credit quality, managing liquid assets to achieve returns consistent with target indexes, overseeing investing and financing programs consistent with the interests of all stakeholders, meeting financial obligations with the highest level of financial integrity, ensuring collections of accounts receivables, and developing and managing programs that provide financial protection in the event of damage to or loss of facilities or from injury to others.

Key Functions:

Cash and Liquidity Management

• Effective cash management operations, ensuring liquidity and accurate cash flow forecasting.
• Banking relationships and payment processing, ensuring compliance with treasury policies and best practices.
• Merchant banking and credit card compliance functions, ensuring secure and efficient transactions.
• Accounts receivable and collections processes, with focus on maintaining strong financial controls and optimizing revenue recovery.
• Debt and Investment Management
• Structure and manage the agency's debt portfolio, ensuring timely debt service payments and efficient capital market transactions.
• Manage issuance of bonds, notes, and short-term borrowing, ensuring continued access to funding at competitive rates.
• Maintain relationships with credit rating agencies and investment banks, providing financial disclosures and market updates.
• Supervise the investment of the agency's liquid assets, ensuring capital preservation, liquidity, and yield optimization in accordance with Board policies and bondholder agreements.

Risk Financing and Workers' Compensation

• Identify, manage, and mitigate risks through commercial insurance, self-insurance, and alternative risk financing mechanisms.
• Placement of the Port Authority's insurance programs, including property, liability, terrorism, and owner-controlled construction insurance.
• Administration of the Port Authority's captive insurance company, ensuring financial stability and regulatory compliance.
• Development and management of risk assessment processes and strategies to optimize risk tolerance across financial and operational areas.

Treasury Operations and Financial Strategy

• Execute treasury policies, ensuring financial integrity and alignment with strategic priorities.
• Develop and implement financial analytics to support data-driven decision-making and treasury optimization.
• Lead process improvements and technology initiatives to enhance efficiency, reporting, and compliance.
• Support budget development and financial planning efforts, ensuring alignment with agency-wide fiscal objectives.
• Collaborate with internal departments, financial partners, and external stakeholders to advance key treasury initiatives.
• The Deputy Treasurer position reports to and acts on behalf of the Treasurer and is responsible for the day-to-day management and oversight of the Treasury Department and each of its business units that function in the areas: treasury operations, cash, debt and portfolio investment management, collections and accounts receivables, risk financing, and workers' compensation.

Responsibilities

Under the direction of the Treasurer, the successful candidate's responsibilities will include, but not be limited to:

• Manage and direct Treasury Department divisions to ensure accurate and timely completion of all required responsibilities in accordance with established deadlines and agency obligations. This includes oversight over the functional areas responsible for cash and liquidity management, investment management, debt management, banking operations, collections and accounts receivable, treasury policies, merchant banking and credit card compliance, insurance program management, contractual risk transfer, and workers' compensation.
• Develop and implement comprehensive and innovative solutions to correct, enhance and improve processes and drive better business results across the Treasury Department. This includes challenging the status quo, employing creative problem solving, and deploying technology solutions where applicable.
• Provide oversight, leadership and guidance to matters associated with advancing initiatives that require inter-departmental cooperation.
• Represent and assist the Treasurer in matters related to managing the Treasury Department including financial matters, budget and business plan development, human resources issues, and agency-wide policy and procedural matters.
• Leverage technology and financial analytics to enhance treasury operations, reporting, and risk assessment and data driven decision making.
• Lead and mentor a high-performing team, fostering a culture of innovation, accountability, and excellence.
• Liaise with the financial department and broader agency staff to develop and implement innovative treasury strategies that optimize cash flow, liquidity management, and capital deployment.
• Act as a key advisor to the Treasurer, providing strategic insight on treasury matters and financial policies.
• Provide oversight and guidance to Treasury Department staff, ensuring accountability, professional development, and operational excellence.
• Represent the Treasurer in meetings, presentations, and negotiations as needed.
• Assume the responsibilities of the Treasurer in their absence, ensuring continuity of leadership and financial stewardship.

Minimum Qualifications

• Bachelor's degree in Finance, Economics, Accounting, Business Administration or related field from an accredited college or university.
• Minimum of ten years of progressively responsible experience in financial management, corporate or public finance, treasury operations, portfolio management, risk financing, or a related field.
• Minimum of five years in a leadership or managerial role, with demonstrated experience managing teams and cross-functional initiatives.
• Demonstrated ability to serve as thought leader, strategic thinker and problem solver.
• Demonstrated ability to lead and develop high-performing teams.
• Demonstrated experience leading complex continuous improvement and organizational change initiatives.
• Ability to implement and create effective financial and operational internal controls as they relate to financial reporting.
• Proficiency in using data analytics and financial modeling to drive strategic decision-making and performance optimization.
• Excellent analytical, project management, and critical thinking skills.
• Excellent oral and written communication skills with the ability to persuade and influence and interact with internal and external stakeholders at all levels of the organization.
• Skilled in presenting to Boards, executive teams, and external stakeholders.
• High level of integrity, professionalism, work ethic, and sound judgement.
• Strong executive presence with the proven ability to negotiate and influence internal and external stakeholders, advocate for policy or procedural changes, and build consensus across diverse audiences.
• Proficiency in Microsoft Office Suite, SAP, PeopleSoft and/or other enterprise resource planning (ERP) tools.

Desired Qualifications

• Master's degree (MBA, MPA, or similar) or professional certification (e.g., CFA, CPA, CTP).
• Experience with leading technology transformation initiatives in treasury or finance, including implementing treasury and risk management systems.
• Track record of managing large and complex financial transactions, including innovative financing structures and alternative risk financing.
• Management level experience working in the finance organization of a public agency, transportation authority, or large infrastructure organization.

Selection Process

The application process varies by position, but typically includes an initial phone interview for qualified candidates, followed by a more in-depth interview(s) and/or assessment(s). Selected candidates who are made a conditional job offer will be asked to undergo a background check.

Compensation & Benefits

The Port Authority of New York and New Jersey offers a competitive benefits package and a professional environment that supports development and recognizes achievement.

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