Treasurer, Budget & Financial Analysis Manager

26-TBF

The Regional Transportation Authority (RTA) provides financial oversight, funding coordination, and regional transit planning for the Chicago Transit Authority (CTA), Metra, and Pace (collectively, the Service Boards). And a new era has begun for transit in the Chicago region. The Illinois General Assembly recently passed a landmark transit funding and reform bill. This legislation includes an estimated $1.2 billion in new annual operating funding for CTA, Metra, and Pace. The bill reorganizes the transit system under a new regional authority, the Northern Illinois Transit Authority (NITA), transforming the RTA (i.e., Agency) to take on new responsibilities including setting fares, enhancing and coordinating service, overseeing long-term capital planning, and leading implementation of unified rider-focused tools such as more seamless mobile ticketing (see more details ).

The Agency is seeking to fill a critical role with a strategic and analytical professional to serve as the Treasurer, Budget and Financial Manager for the Budget and Treasury division. Under the direction of the Chief Financial Officer, the incumbent is responsible for the development and monitoring of the RTA/NITA (Agency) and Service Boards (CTA, Metra and Pace) business plans and the financial analysis of the Agency’s & Service Boards Operations.

T he incumbent also manages the Agency’s investment, debt, and derivative portfolios and banking relationships. Serves as a trustee on the Agency’s Pension Plan Board of Trustees and trustee (or alternate) for the CTA Retirement Plan and Health Care Trust. Oversees development and implementation of the Agency’s strategic financial plan. Identifies and implements process improvements. Prepares reports and gives presentations to the Agency’s Board of Directors, management, and staff; counterparts at the Service Boards; credit rating agencies; local, regional and national governmental agencies; and other public transportation-related entities. Manages day-to-day responsibilities of the division.

Responsibilities include but are not limited to:

• Manages the development of the annual regional business plan for public transit in Northeastern Illinois in accordance with requirements of the NITA Act and established goals and objectives. Business plan includes annual budget, two-year financial plan, and five-year capital program.

• Oversees preparation of monthly, quarterly, and annual analyses of Agency, Service Board, and Regional financial performance. Ensures that significant variances, trends, and critical issues/concerns are investigated and communicates results of investigations to management.

• Responsible for monthly allocation of sales tax receipts and state matching funds to the Agency and Service Boards according to statutory requirements and annual budget agreements. Supports Agency efforts to enhance, retain, and reclaim Agency revenues.

• Oversees key initiative program that drives priority-based Agency budget. Assists departments in identifying, developing, tracking, and reporting on initiatives.

• Provides expertise and staff support to perform financial analyses of current Agency activities and new initiatives.

• Manages cash and investment portfolio in accordance with Agency investment policy. Projects short, medium, and long-term Agency cash positions to ensure that revenues, investment maturities, and short-term borrowing are sufficient to meet disbursements for service board funding, debt service, derivative settlements, and Agency operations.

• Oversees long and short-term Agency debt portfolio. Calculates monthly sinking fund payments and resolves discrepancies with bond trustee. Directs investment of unspent bond proceeds, assuring compliance with federal tax arbitrage regulations. Monitors remarketing agent of short-term variable-rate debt. Assists with annual state grant application that partially reimburses debt service.

• Manages relationships with commercial bank, bond trustee, and state investment pool. Leads competitive selection of banking services providers and subsequent transition to new vendor(s). Maintains portfolio of certificates of deposit at community banks within the region, including minority owned banks.

• Insures proper financial procedures and controls are in place.

• Serves as a trustee on the Agency’s Pension Plan Board of Trustees. Primary trustee contact for investment advisor, investment managers, actuary, auditor, custodian, legal counsel, administrator, and Agency Pension Committee. Reviews all expenditures of, and transfers within, the Trust.

• Serves as Agency trustee (or alternate) for the CTA Retirement Plan and CTA Health Care Trust.

• Manages development, revision, and implementation of the Agency’s Strategic Financial Plan.

• Identifies process improvements that streamline operations, reduce costs, and improve timeliness, accuracy, and accessibility of information. Works with CFO and staff to implement recommendations.

• Foster a work culture that’s focused on achieving measurable objectives by coaching staff, strengthening interagency relationships, and supporting your team. Support the Agency’s Equal Employment Opportunity policies, goals and objectives.

Performs other related duties as required or assigned.

The ideal candidate must have the following:

• The ideal candidate has the knowledge, skills, and abilities equivalent to the completion of a Master’s Degree in Public or Business Administration, Accounting, Finance, or a related field required.
• CPA, CMA, and or CTP a definite plus.
• A minimum of seven to ten (7 - 10) years of experience focused on business process analysis, budgeting, financial analysis, cash and investment management, and public finance, including negotiations and consensus-building in a project team environment required.
• Experience working with government budgeting processes is desired.
• Experience overseeing or administering defined‑benefit or defined‑contribution plans is desired.
  
  
• Demonstrated supervisory and project management experience.

Skills:

• Strong oral and written communication skills.
• Excellent analytical ability with a sound knowledge of finance, accounting, and information systems.
• Ability to create long‑range financial plans for complex organizations. Strong working knowledge of advanced modeling software, such as Power BI.
• Ability to analyze investment performance and market conditions.
• Understanding of public‑sector debt instruments, rating agency methodologies, and municipal finance regulations.
• Can lead organization‑wide financial transformation change efforts.
• Ability to translate complex financial concepts for executive and public audiences. Intermediate knowledge of Microsoft Office suite applications.
  

The Agency offers highly competitive benefits package:

• Pension plan or 401(k) salary match provided by the Agency at no cost to you
• 401(k) and/or 457 plan options
• Hybrid work environment and flexible work schedules
• Transit benefits to support your commute
• Twelve paid holidays and one floating holiday
• Competitive personal leave package
• Parental leave
• Medical/Dental/Vision/Life/AD&D Insurance/Pet Insurance
• Flexible Spending Account
• Tuition reimbursement
• Gym membership discount
• Public Service Loan Forgiveness (PSLF) Employee Assistance Program
  

This role typically offers salaries near $141,450, and the Agency offers competitive salaries with the possibility of a higher offer for highly qualified candidates.

For more information about the Agency, visit our website at

To apply online: Select Login and within the drop-down box, “Login” to your account or create an account by selecting "Register.”

For assistance during the application process (e.g. password login, errors, attaching documents), please contact us at: [email protected]

An Equal Employment Opportunity/Affirmative Action Employer

**Certain provisions of the revolving door restrictions contained in 5 ILCS 430/5-45 apply to this position. As a result, the employee should be aware that if offered non-Agency employment while employed at the Agency, or within one year immediately after ending Agency employment, the employee may be required to notify the Office of the Executive Inspector General for the Agencies of the Illinois Governor (“OEIG”) or may be subject to a fine.**