Director Capital Markets & Treasury in Toronto

The City of Toronto is seeking an accomplished and forward-thinking financial leader to serve as the Director, Capital Markets & Treasury. This is a pivotal executive role responsible for guiding the City’s investment strategy, overseeing its multi‑asset portfolios, and ensuring Toronto’s financial stability through prudent, well‑timed debt issuance and long-term financing decisions.

As one of Canada’s largest and most complex public‑sector issuers, Toronto operates in sophisticated and constantly evolving capital markets. The Director plays a critical role in positioning the City to navigate risk, preserve liquidity, safeguard public funds, and support major city‑building initiatives through responsible financial management.

Reporting to the Chief Financial Officer & Treasurer, the Director is a trusted advisor to City Council, senior leadership, and the Toronto Investment Board, shaping financial strategies that influence both near‑term operations and long‑term economic resilience. The role requires exceptional judgment, political acuity, and the ability to operate confidently in high‑visibility settings, from Council chambers to boardrooms with banks, rating agencies, and large institutional investors.

The Director will provide guidance and leadership in the areas of:

• Strategic direction and oversight for the City’s capital markets, investment, and treasury functions.
• Development, implementation, and ongoing maintenance of investment, debt, liquidity, and treasury policies in alignment with legislative and regulatory requirements.
• Advising the CFO & Treasurer, the Toronto Investment Board, City Council, and senior leadership on complex financial, capital market, and economic matters.
• Overseeing the City’s full suite of investment portfolios, including short-term, long-term, sinking fund, and both internally and externally managed assets.
• Delivering expert analysis, recommendations, and comprehensive materials to support the Toronto Investment Board in fulfilling its fiduciary responsibilities.
• Evaluating external investment managers, consultants, and custodians, negotiating key contracts, and rigorously monitoring performance.

Capital Markets, Debt, and Financing:

• Leading the planning, structuring, and execution of the City’s debenture issuance program, ensuring alignment with market conditions and corporate financial needs.
• Monitoring capital market trends and providing advice on optimal timing, structure, and scale of debt issuance.
• Negotiating financing arrangements with banks, rating agencies, and major institutional partners such as the Canada Infrastructure Bank, FCM, and CMHC.
• Overseeing liquidity, cash management, hedging strategies, and comprehensive financial risk management across the corporation.

Stakeholder & External Relations:

• Representing the City to institutional investors, credit rating agencies, and major financial partners, serving as a key ambassador for the City’s financial strategy and performance.
• Delivering presentations on financial results, economic outlook, and investment strategy, ensuring clear and credible communication.
• Supporting transparent investor relations practices to maintain a strong, reputable presence in capital markets.

Leadership & Operational Excellence:

• Directing, developing, and motivating a team of senior professionals overseeing capital markets, investments, and treasury operations.
• Ensuring high standards of financial controls, compliance, reporting, and risk management, maintaining adherence to the Municipal Act, City bylaws, and all corporate financial policies.
• Championing psychological safety within the team, while encouraging innovation, continuous improvement, and operational efficiency across the division.

Key Qualifications:

• Extensive experience developing and leading large‑scale investment, capital markets, and treasury programs within a public‑sector, financial institution, or institutional asset‑management environment.
• Extensive experience overseeing or managing complex portfolios that may include fixed income, equities, real assets, or externally managed funds, with responsibility for performance evaluation and risk management.
• Proven success in public‑sector or large‑scale debt issuance, including bond programs, negotiating with investment banks, managing credit‑rating processes, and determining strategic issuance timing and structure.
• Proven knowledge of regulatory requirements governing municipal investments, debt limits, risk management, financial controls, and fiduciary responsibilities associated with public funds.
• Considerable experience preparing and presenting complex financial information to senior decision‑makers, Boards, or elected bodies, including the ability to provide clear recommendations based on financial analysis and market insights.
• Considerable experience leading teams in a complex environment, including workforce planning, performance management, and promoting a culture of accountability and continuous improvement.
• Post‑secondary degree in finance, economics, business administration, or a related field. Designations such as CFA, CPA, or an MBA are considered strong assets.

Equity, Diversity and Inclusion:

The City is an equal opportunity employer, dedicated to creating a workplace culture of inclusiveness that reflects the diverse residents that we serve.

Accommodation:

The City of Toronto is committed to creating an accessible and inclusive organization. We are committed to providing barrier-free and accessible employment practices in compliance with the Accessibility for Ontarians with Disabilities Act (AODA). Should you require Code-protected accommodation through any stage of the recruitment process, please make them known when contacted and we will work with you to meet your needs. Disability-related accommodation during the application process is available upon request.