Women in Finance Fellowship-
Debt Management Summer 2022
Please Note: This fellowship is open to female identifying undergraduate students attending an institution of higher education located in Massachusetts or female identifying undergraduate students who reside in Massachusetts but attends an institution of higher education located in the United States but not in Massachusetts. Due to COVID-19, the fellowship may adopt an in-person, remote, or hybrid schedule depending on safety protocols. This 9-week fellowship will begin on Tuesday, May 31st, 2022 and conclude on Friday, July 29th.
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 commercial paper 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. 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.
v 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.
v 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.
v 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.
Education and Background:
v Candidates must be currently pursuing an undergraduate degree in Business Administration or Finance
Knowledge and Skills:
v Must be proficient with MS Office (Excel, Word, PowerPoint).
v 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.
v Interpersonal skills are required as the incumbent will interact with various company personnel, at all levels, as well as external partners.
v Ability to work independently and as part of a team.
v Strong attention to detail.
v As the incumbent is exposed to confidential financial results, the applicant should have a high degree of integrity and professionalism.
☑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
In addition to professional experience, Fellows will be offered the opportunity to gain further exposure to leadership programming as well as the opportunity to attend virtual Office of Economic Empowerment events, including informational seminars, resume workshops, financial education discussion, and Path to Possibilities career information sessions hosted by the Treasury Human Resources division, in order to gain organization wide understanding regarding the work of the Office of the State Treasurer and Receiver General.
Program Details: Fellows will receive a stipend 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
All applicants must include in their application a resume, cover letter, and one Letter of Recommendation. Applicants must answer the following questions:
1. Why are you interested in the Women in Finance Fellowship?
2. What department are you most interested in and why?
3. What do you hope to get out of this fellowship experience?
*Please note applications will be considered incomplete if not all materials are submitted.