Job Description
About the Office of the Massachusetts State Treasurer and Receiver General ("Treasury")
Our mission is to manage and safeguard the State's public deposits and investments through sound business practices for the exclusive benefits of our citizens, and perform these duties with integrity, excellence, and leadership. Additionally, we strive to provide economic opportunity, stability, and security for every Massachusetts resident.
We are committed to excellence in recruiting, hiring, and retaining diverse and qualified individuals. We value the culture of diversity and professionalism in the workplace, and strongly believe that our workforce should reflect our community.
https://www.surveymonkey.com/r/FM68GFV
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Please Note:
This fellowship is open to applicants who are undergraduate students attending an institution of higher education located in Massachusetts or undergraduate students who reside in Massachusetts but attend an institution of higher education located in the United States but not in Massachusetts. Applicants with a demonstrated interest in promoting DEI&B in the financial services industry and students who can bring a unique and authentic perspective to Debt Management are especially encouraged to apply.
This 10-week fellowship will begin on Monday, June 3, 2024, and conclude on Friday, August 12, 2024 and will be in a hybrid in office format
About Debt Management: The Debt Management Department of the State Treasurer's Office is responsible for managing the Commonwealth's short-term and long-term borrowing needs. Short-term borrowing is done through the sale of revenue anticipation notes and long-term borrowing is done through the sale of Commonwealth bonds to pay for capital projects within the state. Overall, the Debt Management team is responsible for approximately $27 billion in Commonwealth debt. The primary duties of the department are managing the outstanding debt of the Commonwealth and preparing and structuring upcoming bond sales. In addition, as the Commonwealth is its own paying agent on its debt, the department makes all debt service payments including principal and interest on its bond, as well as associated financing costs.
Position Summary: Debt Management is seeking a full time Finance Fellow to assist on finance related projects form from the beginning of June to the end of July 2023. This position will provide the successful candidate with an excellent opportunity to gain valuable, real world skills relevant to the operations of a state-run organization with exposure to Accounting, Finance, and professional development opportunities.
Primary Responsibilities:
- The primary responsibility of the Finance Fellow is to be a member of the debt management team and be part of the day-to-day activities of the department. This will include attending meetings with bankers, participate in procurement management team meetings, and assist in bond deal structuring, which will include planning and marketing meetings. Projects in the department adjust on a regular basis due to bond market conditions, the economic outlook and financing needs of the Commonwealth. The Finance Fellow will be included all ongoing projects.
- Provide support to the debt management team. This will encompass working on current department issues, which could include structuring a bond deal, creating official statements, creating investor presentations, updating the department website and assisting in preparing investor disclosure documents.
- Provide support on special projects, assist in preparing and structuring bond and note sales, including edits to the preliminary official statements and marketing, and monitor and update the debt management website.
Qualifications
Education and Background:
- Candidates must be currently pursuing an undergraduate/graduate degree in Business Administration or Finance
Knowledge and Skills:
- Must be proficient with MS Office (Excel, Word, PowerPoint).
- Strong organizational skills and an ability to multitask are required as the incumbent will be forced to prioritize workflow to meet deadline driven projects in a fast-paced environment.
- Interpersonal skills are required as the incumbent will interact with various company personnel, at all levels, as well as external partners.
- Ability to work independently and as part of a team.
- Strong attention to detail.
- As the incumbent is exposed to confidential financial results, the applicant should have a high degree of integrity and professionalism.
Program Benefits:
☑Professional Development Workshops
☑Public & Private Sector Networking Opportunities
☑One on One Mentoring
☑Valuable Work Experience
☑Give Yourself an Edge in the Job Market
☑Develop and Refine Skills
☑Leadership Development
Fellows will be offered the opportunity to gain further exposure to leadership programming as well as the opportunity to attend Office of Economic Empowerment virtual events, including informational seminars, resume workshops, financial education discussions, and the Path to Possibilities career information sessions hosted by the Treasury Human Resources division, in order to gain an organizational-wide understanding of the overall mission of the Office of the State Treasurer and Receiver General. Fellows will also be encouraged to participate in Treasury wide DEI&B programming and initiatives.
Program Details: Fellows will receive a rate of $20 an hour and are required to commit to 37.5 hours per week.
Learn more about Debt Management here: https://www.mass.gov/orgs/debt-management and also at www.massbondholder .com