Director, Debt Management

POSITION PURPOSE
The Director, Debt Management is responsible for managing CHW's centralized debt program. Primary responsibilities include overseeing the day-to-day operations of the debt program, including managing all areas of compliance and regulatory requirements, coordinating external debt as well as monitoring CHW's derivatives program, and working with CHW's facilities regarding financed assets and internal debt. Development of CHW's capital structure is a key component of this role, conducted in collaboration with VP, Treasury Services and Senior Director, Treasury Services. Other duties include coordinating the preparation of continuing disclosure and presentation materials to external parties such as rating agencies and investors, and performing debt analyses associated with merger and acquisition activity.

PRINCIPAL RESPONSIBILITIES

1. Manage the ongoing financial and operational aspects of the centralized debt management program, and (as part of the Treasury Services re-organization) participate as needed in re-engineering of current processes, which include:
   • Allocation of debt to CHW facilities
   • Blended cost of capital
   • Information required for CHW facilities' budget
   • Information needed to support for the annual financial audit
2. Actively participate in issuance of tax-exempt (and taxable) municipal bond debt, in collaboration with VP, Treasury Services and Senior Director, Treasury Services. Principle responsibilities include:
   • Identification of assets eligible for tax-exempt financing
   • Coordination with CHW's financial advisor, investment bankers and other parties, for the optimal debt structure for the organization
   • Coordinate development of Appendix A and other bond related documents.
3. Assist the Senior Director, Treasury Services in the creation and renewal of credit and liquidity agreements needed for certain financing vehicles. Develop strong banking contacts and relationships, assist with credit agreement terms, participate in credit review meetings, and work with counsel in the review of legal documents.
4. Responsible for compliance reporting and monitoring, including non-hospital cap, private use limitation, master trust indenture covenants, bond insurer covenants, and liquidity provider covenants.
5. Produce continuing disclosure information for annual and quarterly requirements as required through bond covenants, credit agreements and insurance agreements.
6. Manage the spend-down of tax-exempt financed assets and completion of any construction election or arbitrage rebate calculations and ensure compliance with IRS rules for spend down.
7. Assist in monitoring of CHW's derivatives program, including working with CHW's derivatives consultant, tracking valuation and cash flows of the program, and preparing presentations to senior management and governance as needed.
8. Take a leadership role in innovation in debt management, including implementation of Treasury Workstation technology for debt management, and ongoing exploration of new systems and technologies for enhanced monitoring and reporting.
9. Support Vice President, Treasury Services communications with preparation of presentations to bond rating agencies, credit providers, bond insurers and other interested financial parties.CHW's Board of Directors and Executive Management Team through preparation of materials for meetings and presentations
10. Together with Senior Director, Treasury Services, provide consultative services to facilities in financing of assets.

CONTACTS
Regular contact with internal constituents in Finance as well as CHW facility CFOs and group CFOs. External contacts include financial advisors, investment bankers, commercial bankers, bond insurers, internal and external bond and tax counsel, CHW's auditors, and investors.

REPORTING RELATIONSHIP
The Director, Debt Management will report to the VP, Treasury Services and also have a Ôdotted line' reporting relationship with the Senior Analyst, Treasury Services. Collaboration on capital structure and banking relationships is essential. It is anticipated that this position will be supported by a Senior Analyst Ð Debt Management position that is planned to be created by fiscal year-end 2008.

JOB REQUIREMENTS
Qualifications: MBA or comparable.
Knowledge/Skills: Experience and knowledge of debt markets. Strong analytical, interpersonal and presentation skills required. A minimum of 5+ years of experience in Treasury or Debt Management required.

To apply, go to www.chwcareers.org and follow the instructions below:

Select 'Job Search / Apply Login' from right-hand navigation bar
For location, select 'CHW System Office - San Francisco'
Click 'View Job Openings' (on right-hand navigation bar)
Select 'Accounting/Finance'

Fixed Income Credit Analyst / Portfolio Manager

Description:
RNC Genter Capital Management, an independent investment advisory firm located in West Los Angeles, seeks a motivated and experienced credit analyst with expertise in the analysis of municipal securities.

The candidate must have 8+ years successfully providing research on credits, with a total understanding of trading and relative value for the various security types and structures. The individual will be involved in the selection / retention process of our team approach in the management of client portfolios.

The candidate must be a well organized self-starter with excellent written, verbal and computer skills. Experience with BondEdge and the FIN System is a plus. CFA / MBA desirable.

Salary: Open; commensurate with experience

Please send resume and salary requirements to: sbradasich@rncgenter.com.

Head of Municipal Research

Gannett Welsh & Kotler, LLC (GW&K), is an investment management subsidiary of the Bank of New York Mellon with $8.1 billion in equity and fixed income assets under management.

GW&K has been managing money for individuals and small institutions since 1974. We are dedicated to delivering a high level of investment expertise and helping our clients reach their financial goals. To keep pace with the ever-changing landscape of the investment community, we are continuously looking for individuals who can contribute to GW&K's growth. At GW&K we believe our people are our most valuable assets. Employees thrive in a dynamic work environment that promotes growth and opportunity.

We are seeking a Head of Municipal Research who will be responsible for managing and directing Gannett Welsh & Kotler's municipal research efforts.

Responsibilities:

• Provide leadership for establishing and modeling best practices and for managing workflow.
• Design, develop and implement processes, reports and other tools to produce and deliver analytical results and recommendations.
• Demonstrate creative and strategic thought on investment issues and generate credit ideas that add value.
• Manage research agenda and build an investment track record.
• Interact extensively with Traders and Portfolio Managers.
• Communicate with clients and consultants on a regular basis.
• Analyze and interpret municipal economic and market data that could impact portfolio performance.
• Conduct research and make value added investment recommendations.
• Deliver persuasive oral and written communications regarding investment recommendations and rationale.
• Monitor a diversified portfolio of existing credits.

Qualifications:

• 10 plus years of municipal research experience.
• Strong management skills and oversight of research staff.
• Bachelor's degree required, MBA or CFA strongly preferred.
• Seasoned and proven judgment in the field of research.
• Consistent and strong performance record.
• Strong written and oral communication skills.

Qualified candidates should send resumes to careers@gwkinc.com.

Assistant Vice President/Vice-President,
Municipal Credit Risk
Global Risk Management

LOCATION
New York, NY

Merrill Lynch seeks a qualified candidate for a municipal credit officer within the Global Risk Management ("GRM") group. The position will be at the Assistant Vice President or Vice President level, depending on experience. GRM reflects the recent merging of Global Credit & Commitments and Market Risk.

THE ROLE
The candidate will be responsible for the following:

• Providing credit assessment of municipal counterparties for financing and derivative trading activities;
• Monitoring of diversified portfolio of existing municipal accounts;
• Review of credit exposures, including daily oversight of system-generated credit exposure alerts;
• Interacting with various intra-firm constituencies including municipal sales and trading, investment banking, legal and collateral management groups

KEY QUALIFICATIONS:
The ideal candidate will have approximately three to five years of municipal experience, including capital markets, rating agency, financial guaranty or government finance related work, or a combination thereof. Candidates with a background in general obligation backed debt are preferred. The candidate should have an interest and general understanding of municipal finance markets and documentation, and possess strong quantitative, analytical, oral presentation and writing abilities. MBA/MPA, related graduate degree, or CFA is helpful, but not required.

THE COMPANY
Merrill Lynch is one of the world's leading wealth management, capital markets and advisory companies, with offices in 38 countries and territories and total client assets of approximately $1.8 trillion.

Merrill Lynch offers a broad range of services to private clients, small businesses, and institutions and corporations, organizing its activities into two interrelated business segments - Global Wealth Management and Global Markets & Investment Banking.

It is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide.

Merrill Lynch owns approximately half of BlackRock, one of the world's largest publicly traded investment management companies, with more than $1 trillion in assets under management.

In short, Merrill Lynch is a fast and agile organization Ð able to capitalize quickly on a wide range of market opportunities across economic cycles. The company places a high value on talent and on maintaining a culture defined by meritocracy. For these reasons, it is deeply committed to professional development, opportunity and accountability at all levels of the organization.

CONTACT INFORMATION
Suparna Basu
Telephone 212-670-0926
Email suparna_basu@ml.com

Associate VP/Vice President, Research Analyst, Municipal Bonds

Overview of the Position
Based in Hartford, CT, the AVP/VP Research Analyst, Municipal Bonds will conduct research and make value added investment recommendations to $13.5B of municipal bond investments, both taxable and tax-exempt, covering investment grade and non-investment grade munis. The muni portfolio consists of general account assets, mutual funds and separate accounts. The AVP/VP will regularly interact with the Portfolio Manager, trader, and other analysts to discuss credits and make investment recommendations.

Responsibilities

• Conduct independent fundamental research with to support specific, insightful, and timely credit research opinions, including buy/sell recommendations, interacting extensively with Portfolio Manager. This will include security specific research; collateral and counterparty credit risk.
• Demonstrating independent, creative, and strategic thought on investment issues and generating credit ideas that add value.
• Research, develop and apply quantitative and mathematical models to assess risk and return and evaluate portfolio efficiency.
• Design, develop and implement processes, reports, and other tools to produce and deliver analytic results and recommendations.
• Analyze and interpret Global, US and municipal economic and market data for trends that could impact portfolio performance risk or investment opportunities.
• Independently identify and recommend investment opportunities that improve portfolio returns and/or reduce risk.
• Maintain successful track record of investment recommendations.
• Deliver persuasive oral and written communications regarding investment recommendations and rationale.
• Develop relationships with securities dealers an industry peers and organizations.
• Establish and maintain a reputation both internally and externally as a knowledgeable and ethical investment professional.
• May support sales and service activities for clients. With guidance, prepare for and conduct meetings and presentations to investors, industry peers and other internal and external constituents.
• Provide leadership for establishing and modeling best practices and for managing workflow.
• Independently manage research agenda, building an investment track record and gaining internal and external recognition/prominence.

Candidate Profile

• 7+ years in credit or investment research, with a minimum of 3-5 in the municipal sector.
• Bachelor's degree in Mathematics, Finance, Economics, Accounting, or related field with a CFA and/or MBA preferred.
• Collaboration and teamwork skills.
• Strong analytical skills, attention to detail and accuracy.
• Sound judgment and decision making skills.
• Strong verbal and written communication skills.
• Technology savvy.
• Negotiation skills.
• Business knowledge, intellectual curiosity about investments and the municipal sector, proactive learner.
• Muni experience in High Yield and/or the following sectors is a plus: tobacco, housing.

As part of one of the oldest financial services companies in the United States, HIMCO has developed a strong results-oriented culture based on delivering superior investment solutions to our clients. We thrive on our ability to harness the insights and experience we have garnered over several decades to help our clients face the challenges of today's financial markets. While experience is an important contributor to our success in investment management, we also realize the importance of innovation and evolving markets. Accordingly, we have created a structure and culture for our firm that we believe positions our clients to benefit from tomorrow's opportunities and challenges.

What Is The Compensation Opportunity?
This opportunity will pay competitively. Our compensation philosophy is simple: we pay competitive base salaries and we reward performance. In addition, you will be eligible to participate in our comprehensive benefits program including medical insurance, a 401K Plan, an Employee Stock Purchase Plan and more.

We are an affirmative action - equal opportunity employer

Qualified candidates only, please email resume in Word or PDF format to maura.burton@himco.com. No phone calls please.

Senior Analyst-Municipal Credit Research

Location: Valley Forge, PA

Description:
Vanguard, one of the world's largest investment companies, is seeking a Sr. Municipal Credit Analyst to join the Fixed Income Credit Research Group to contribute to investment decision making and strategy.

You will provide the Fixed Income Group with coverage of governmental securities; familiarity with TOBS is a plus. You will interact regularly with portfolio managers, and will need to develop and maintain productive relationships with these individuals, as well as with investment banks, issuers, rating agencies, and fellow analysts. Based on your timely and accurate assessments of the credit quality of issuers, you will recommend to portfolio mangers the purchase and sale of securities in your assigned coverage universe.

Position Qualifications:

• Bachelor's degree; Graduate degree in a related field and/or professional certification (CFA) is a major plus.
• Seven to ten years of progressive analytic experience with a minimum of five years of direct municipal credit research experience.
• Excellent communication skills, both verbal and written.
• A demonstrated record of initiative and career advancement.
• The ability to work independently at a high level of performance.

At Vanguard, you'll be part of the essential core of an industry-leading company known for its strong ethical practices and client focus. The environment is collaborative and team-oriented, yet individual achievement is recognized and rewarded. Set your goals high, and explore this dynamic position with Vanguard.

Vanguard, a leading financial company, offers a competitive Total Rewards package of cash compensation, benefits, work-life programs, and conveniences. Employment is contingent on a successful drug-screening result, and we maintain a smoke-free work environment. We are an equal opportunity employer committed to diversity in the workplace.

Apply Method:
Please email resume and cover letter to Anne_C_Hewitt@Vanguard.com.