JOB PROFILE
Position #08169
TITLE: DIRECTOR, CAPITAL MARKETS
CLASSIFICATION: BUSINESS LEADERSHIP
MINISTRY: FINANCE
WORK UNIT: DEBT MANAGEMENT BRANCH
SUPERVISOR TITLE: EXECUTIVE DIRECTOR
SUPERVISOR POSITION #: 08852
CONTEXT
In accordance with the Financial Administration Act, the Debt Management Branch provides centralized
liability management services to the government and its Crown corporations and agencies. The branch is
responsible for managing a $60 billion debt portfolio, a multi-billion dollar derivatives portfolio and transacting
an annual borrowing program ranging from $4 billion to $9 billion which it sources from the capital markets on
behalf of the province.
The branch operates in accordance with delegated authorities set by debt policies and risk parameters after
consultation with the Ministry Risk Committee consisting of the Deputy Minister of Finance and four external
members. As fiscal agent for the province and all Crown corporations, the Branch provides expertise and
direction on the management and financing of its client debt portfolios.
JOB OVERVIEW
The Director, Capital Markets has a pivotal role in the development, coordination and execution of the
branch’s delivery of centralized debt management services to the government and its Crown corporations and
agencies.
The position develops, manages and monitors the province’s annual borrowing and risk-hedging strategy for
approval by the Risk Committee based on clients’ forecast requirements, the composition of the existing
liability portfolio, capital market conditions, most competitive market sources, optimal terms and timing
considerations.
Management of the group’s activities requires superior understanding of the technical attributes and business
conventions of fixed income capital markets, and recognition among senior officials in the financial community
and public sector for having sound professional expertise, judgment and leadership.
The debt management decisions made by the group’s portfolio managers have major impacts on the debt
service costs, and interest rate and foreign exchange risk exposures of the provincial public sector, and
ultimately on the province’s reputation in the financial community and the government’s standing with
taxpayers.
POSITION LINKS
 Minister of Finance, Deputy Minister, ADM and Executive Director – supports and or directly participates in
investor relation’s activities including domestic and international tours.
Career Group:
Job Family:
Job Stream:
Role:
Revised
Finance
Debt Management
Capital Markets
Senior Management
September 9, 2015


Ministry of Finance Risk Committee and ADM – in conjunction with the Executive Director, tables the
annual borrowing plan and hedging strategy, reports out on the progress and provides updates on key
developments in the capital markets.
Branch senior management - the Director is one of six members belonging to the branch’s management
team and provides input into strategic / business planning, enterprise risk management, client issues,
performance planning, systems, staffing, contract tendering, business continuity planning and
administration.

Senior officials in the financial community including investors, investment banks, credit rating agencies and
legal counsel - maintains and enhances the province’s standing in the financial community, ensures
competitive interest in the province’s financing programs to transact borrowing and derivative trades.

Clients including core government and its Crown corporations and agencies - provides debt management
strategy advice including risk-mitigation and transaction advisory services.

Central Agencies including Treasury Board Staff, the Office of the Comptroller General and
Communications – provides advice and input on a variety of items related to the province’s borrowing
program including the budget and Public Accounts.
ACCOUNTABILITIES

Develops the province's annual borrowing and risk-hedging strategy and quarterly tactical plans for
approval of the Risk Committee based on clients' forecast requirements, capital market conditions, most
competitive market sources, optimal terms and timing considerations.

Completion of the province's annual borrowing requirement that achieves an optimal balance of cost and
risk.

Leads, coaches and manages a team of four Portfolio Managers in the delivery of the group's mandate.
Provides management oversight and review and, as required, direction on borrowing and hedging
transactions for Clients.

Accountable for performance of the group against established debt management benchmarks which is
reported quarterly to the Risk Committee. Adjust program activities as needed to maximize performance.

Establishes and maintains strategic business contact with domestic and international investment banks
and underwriters to ensure competitive interest and participation in the province's financing programs.

Supports and occasionally accompanies the Minister and senior ministry officials on domestic and
international investor tours to promote and market the province's credit attributes.

Represents the province at various fixed income conferences and participates and or leads meetings with
current or prospective investors.

Manages the Provincial Treasury Revenue (matched book) Program wherein it looks to generate low-risk
arbitrage profit by matching low-cost borrowing with higher yielding investments.

Also manages the province’s Warehouse Program which pre-funds borrowings in advance of Client
requirements to take advantage of investor receptivity and cost-effective global borrowing opportunities.
Participates in the evaluation and bond / swap pricing of the province's Public Private Partnership projects.

Career Group:
Job Family:
Job Stream:
Role:
Revised
Finance
Debt Management
Capital Markets
Senior Management
September 9, 2015
SELECTION CRITERIA
EDUCATION / EXPERIENCE:

Completion of a degree in Finance, Commerce, Economics, Business Administration, Mathematics or
equivalent.

Minimum of 5 years’ experience in banking, financial management, securities industry or capital
markets.

Preference may be given for applicants with a relevant Master’s degree or Chartered Financial Analyst
designation.

Preference may be given for applicants with one or more of the following:
o Extensive experience in a large treasury operation.
o Experience leading a team of highly skilled finance professionals.
o Advanced expertise and experience in fixed-income mathematics, domestic and international
capital markets.
o Direct experience transacting one or more of the following; domestic and or international debt
issues, medium term notes or commercial paper.
o Experience analysing and executing hedging strategies for interest rate and currency risk
management using financial derivatives.
o Experience leading research projects related to debt management issuance policies and
approaches.
o Experience managing a corporate or government debt portfolio or a subset.
o Experience marketing / communicating financial products with investors.
KNOWLEDGE:

Current knowledge of developments in the capital markets as well as with the management of debt
issuance.

Strong knowledge of the technical attributes and business conventions of fixed income capital markets.

Knowledge of using computer applications and integrated accounting / financial systems to enter
trades, conduct analysis and produce reports.

Knowledge of government structure, priorities and operating environment and its budgeting process
and debt reporting.

Knowledge of GAAP.
ABILITIES / SKILLS:

Excellent communication skills (e.g. written, presentation and interpersonal) with the ability to
communicate complex financial issues in a clear, concise manner using diplomacy and tact when
dealing with executive management, clients, work peers and industry representatives.
Career Group:
Job Family:
Job Stream:
Role:
Revised
Finance
Debt Management
Capital Markets
Senior Management
September 9, 2015

Ability to mediate, negotiate, consult and manage issues to achieve financial objectives and business
needs.

Solid leadership, change management and influence management skills.

Ability to build and foster effective and collaborative relationships with clients, executive members and
industry professionals.

Ability to accurately price complex bond and derivative products.

Ability to work on a variety of projects, under critical time frames in a high pressure, at times intense,
environment where impact of error is significant.

Ability to formulate and implement innovative solutions to solve problems and achieve goals.
COMPETENCIES

Analytical Thinking is the ability to comprehend a situation by breaking it down into its components
and identifying key or underlying complex issues. It implies the ability to systematically organize and
compare the various aspects of a problem or situation, and determine cause-and-effect relationships
("if...then…") to resolve problems in a sound, decisive manner. Checks to ensure the validity or
accuracy of all information.

Planning, Organizing and Co-ordinating involves proactively planning, establishing priorities and
allocating resources. It is expressed by developing and implementing increasingly complex plans. It also
involves monitoring and adjusting work to accomplish goals and deliver to the organization's mandate.

Problem Solving/Judgement is the ability to analyze problems systematically, organize information,
identify key factors, identify underlying causes and generate solutions.

Relationship Building is working to build or maintain ethical relationships or networks or contacts with
people who are, or may be, potentially helpful in achieving work-related goals and establishing
advantages. These people may include customers, clients, counterparts, colleagues, etc.

Results Orientation is a concern for surpassing a standard of excellence. The standard may be one’s
own past performance (striving for improvement); an objective measure (achievement orientation);
challenging goals that one has set; or even improving or surpassing what has already been done
(continuous improvement). Thus, a unique accomplishment also indicates a Results Orientation.

Service Orientation implies a desire to identify and serve customers/clients, who may include the
public, co-workers, other branches/divisions, other ministries/agencies, other government
organizations, and non-government organizations. It means focusing one’s efforts on discovering and
meeting the needs of the customer/client.
Career Group:
Job Family:
Job Stream:
Role:
Revised
Finance
Debt Management
Capital Markets
Senior Management
September 9, 2015