The New York City Municipal Water Finance Authority named Olga Chernat as its executive director.
Chernat, a chartered financial analyst who previously served NYW as treasurer and deputy treasurer, will start in her new position on Wednesday, the authority said.
She currently serves as Deputy Director of Finance at the Metropolitan Transportation Authority, where she helps the Director of Finance manage a $38 billion multi-credit portfolio and implement the MTA’s bond issuance.
Chernat was the water finance authority's treasurer and deputy treasurer between 2006 and 2009.
“We are extremely pleased Olga has agreed to return to NYW, this time as executive director,” Alan Anders, NYW’s chief executive officer, said Tuesday. “She has increasingly assumed a leadership role in the municipal bond industry, both as a deputy director at MTA and in her work at the government debt and fiscal policy committee at the national [Government Finance Officers Association].”
Anders said Chernat would report to him and would be responsible for the execution of the NYW’s bond financings. The authority is the largest water and sewer authority in the United States in terms of bond issuance.
Chernat will also be responsible for coordinating with the Mayor’s Office of Department of Environmental Protection.
"It's hard to think of anyone who has better qualifications for the job," Anders said.
Previously, Chernat was Assistant Vice President at Roosevelt & Cross, Inc. She received her CFA designation in 2008 and has a Bachelor of Business Administration from Baruch College.
In 2013, she won the Women in Public Finance’s Rising Star Award.
Chernat replaces Thomas Paolicelli who has moved on to become the Chef Deputy Treasurer for San Diego County, Calif.