About Us

The Debt Management Branch provides centralized liability management and project finance services to the government and its Crown corporations and agencies. In addition to borrowing funds to meet client requirements, the branch manages all principal and interest payments and enters into derivative transactions to manage interest rate and foreign currency risk exposure.

A/Executive Director: Darshi Klear

tel:	250 387-8815
fax:	250 387-3024
email:	Darshi.Klear@gov.bc.ca

The Branch is structured into four groups:

• Capital Markets
• Legal and Corporate Affairs
• Reporting and Analysis, and
• Risk and Performance Measurement

Capital Markets:

The group's principal role is to ensure that individual corporate liability management objectives are successfully met through the centralized liability management operations of the branch. In this regard, it consults with the branch's clients to establish performance benchmarks; set operating and risk parameters; and develop broad liability management strategies. In conjunction with developing client-specific plans, the group provides advice to ministry executive regarding the general terms for the branch's overall liability management operations. The group is also responsible for effecting portfolio management strategies through the use of derivative products and manages and monitors the province's Provincial Treasury Revenue (matched-book) Program.

The group is also responsible for the execution of all domestic and international financing transactions in the short, medium and long term. The group maintains these programs including negotiation of fees, selection of firms, determination of allocations, syndicate evaluation and daily monitoring of market conditions.

The group’s activities are overseen by a Risk Committee which ensures that all liability management practices are based on sound financial principles and are conducted in a prudent manner, balancing costs and risks within acceptable control standards. The Committee is comprised of the Deputy Minister of Finance, Deputy Minister of Provincial Revenue, Assistant Deputy Minister, Provincial Treasury and two members from the academic and financial communities.

Senior Manager: Tim Pierce

tel:	250 387-7132
fax:	250 387-3024
email:	Tim.Pierce@gov.bc.ca

Legal and Corporate Affairs:

The group manages and negotiates legal agreements, legislation and borrowing documentation for the government and its Crown corporations and agencies; implements the branch strategic systems plan; and manages the administration of all financial transactions pertaining to the outstanding debt and derivatives portfolio of the government and its Crown corporations and agencies. The group is accountable for developing documentation for the province’s financing programs and ensuring their success through maintaining the province’s good credit rating, as well as engaging in the development of an extensive investor relations program to market the province’s credit story to attract investors and enable the province to borrow the lowest-cost funds. Legal and Corporate Affairs is the primary liaison with credit rating agencies - responsible for ongoing communication strategies including annual management reviews and ongoing issues management.

Senior Manager: Vacant
Please contact Darshi Klear, A/Executive Director

Reporting and Analysis:

The group provides consultation, accounting and financial reporting support for the province's borrowing programs. The unit develops accounting policies and procedures and is responsible for recording government debt transactions, and prepares audits, schedules and notes for the Public Accounts . Accounting and reporting support is also provided for the Provincial Treasury Revenue Program and the Warehouse borrowing program, as well as systems development and enhancement testing for all debt related systems. Budgeting support is provided to Treasury Board Staff, including the development, monitoring and analysis of the Management of Public Funds and Debt vote. The unit also prepares the forecast provincial net debt for inclusion in the annual provincial budget.

A/Senior Manager: Patty Hughes

tel:	250 386-8023
fax:	250 387-3024
email:	Patty.Hughes@gov.bc.ca

Risk and Performance Measurement:

The group is responsible for developing and maintaining enterprise-wide risk management policies to guide debt management by the branch. The group identifies, assesses, measures and controls debt management risks of the province including market, credit, operational and portfolio performance risk.

Senior Manager: Vacant
Please contact Tim Pierce, Senior Manager Capital Markets