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| The NAST Treasury Management Conference meets annually and
features sessions on banking, cash management
& investments, college savings,
debt management,
unclaimed property, and
financial literacy. Descriptions of sessions held during the
2008 conference are listed below. Click on a speaker's name to
view their presentation. (More presentations will be posted
throughout the week of Dec. 15) |
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College Savings and Prepaid
Tuition Programs |
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Implementing the CSPN Strategic Plan
This session will examine the goals identified in the CSPN
strategic plan and provide an overview of the planning process
to develop the Federal Initiatives Strategy, the National
Communications Strategy and the Membership Plan for the network.
Speakers:
Hon. Tate Reeves, Mississippi State Treasurer
Jacqueline Williams, Executive Director, Ohio Tuition
Trust Authority & Past CSPN Chair
Joan Marshall, Executive Director, College Savings Plans
of Maryland
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How to Approach and Educate Elected
Officials on 529 Federal and State Issues
A review of the impacts of recent election results and an
in-depth discussion of the Federal Initiatives Strategy of CSPN
and an examination of the role each member of CSPN will have in
the successful implementation of the plan.
Speakers:
Sue DiLandro, Vice President, Federal Government Relations,
TIAA-CREF
Susan B. Hirschmann, Principal, Williams & Jensen
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State of the States
This session will provide a comprehensive review of program
changes, innovations, major concerns and future issues with an
emphasis on strategies to reach low/moderate income families.
Moderator: Betty Lochner, Director, Washington Guaranteed
Education Tuition
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Targeting Low and Moderate Income
Populations
This session will examine what 529 plans are currently doing to
increase participation in this important section of the
population and will explore new opportunities. Moderator:
Rosemary Becchi, President, Becchi Consulting
Speakers:
Zeny Marie Agullana, Executive Director, California
ScholarShare Investment Board
Margaret M. Clancy, Policy Director, Center for Social
Development, Washington University
Hon. Alexi Giannoulias, Illinois State Treasurer
Maureen O’Brien, Director of Marketing, Ohio Tuition
Trust Authority
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The Student Loan Crisis: What’s the
Impact?
What is the current status of the student loan industry and how
has that created opportunities for the 529 savings industry?
This panel will look at how the college savings industry can
incorporate planning and education about the entire higher
education finance picture into 529s.
Speakers:
Raymond D. Loewe, Founder, College Money
Bill Raynor, Vice President, National Sales,
OppenheimerFunds, Inc.
Kenneth B. Roberts, Partner, Hawkins, Delafield & Wood
LLP
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Innovative Marketing
Examine the current marketing initiatives for 529 plans and
learn about new approaches, such as outside marketing,
Geo-targeting, search and banner optimization, and e-mail
effectiveness.
Speakers:
Mary Cusick, Director of Marketing, TIAA-CREF Tuition
Financing, Inc.
Lillian Kennedy, Vice President Media Services,
Purple@Epsilon
Marsden Watson, Senior Account Manager, Google, Inc.
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Emerging Managers
How are minority managers adding products and value to 529 plans
(especially prepaid) and will this be a growing trend? Can this
trend help plan sponsors broaden participation in 529 plans by
diverse constituents?
Speakers:
Charles L. Curry, Jr., Sr. VP & Director of Fixed Income,
Piedmont Investment Advisors, LLC
Hon. Alexi Giannoulias, Illinois State Treasurer
Mellody Hobson, President, Ariel Investments
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Unraveling the Mystery of Section 529
Plan Administrative Costs
This session will examine the administrative expenses that are
unique to Section 529 plans and evaluate the impact of
variations in those costs on the success of the plans.
Speakers:
Raquel Granahan, Senior Vice President, OppenheimerFunds,
Inc.
Jeff Howkins, Chief Administrative Officer, Upromise
Investments, Inc.
Joe Hurley, Vice President, Bankrate, Inc. & Founder of
Savingforcollege.com
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Operational Issues: Developing
Industry Standards
Studies suggest that one of the impediments to increasing
participation in 529 plans has been the complexity of the
operational processes and procedures. Why are operations so
complex and why can't 529s use the mutual fund model? Does the
complexity result in extra costs? The panel will examine this
complexity, highlight the roles that each of the private and
public sector parties play, and look at ways to work together to
achieve uniformity.
Speakers:
Steve Cutka, Vice President, Operations Relations Manager,
American Funds
Arthur Dunn, Division Vice President, Boston Financial
Data Services, Inc.
Deborah Goodkin, Director, Legg Mason Investor Services
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Unclaimed Property
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Pre-conference NAUPA Compliance
& Education Course
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Safe Deposit Box Innovations
Financial institutions send the contents of thousands of safe
deposit boxes each year to state unclaimed property programs. As
custodians, states work hard to preserve the original items as
the chances of finding the owners grow dimmer every day and the
amount of valuables increase. A facilitator will help
participants to thoroughly explore the issues surrounding this
vital component of reporting and outreach.
Speaker:
Jackie Schroeter, Manager of Safebox Operations, Texas
Comptroller of Public Accounts
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Reciprocity Today
After years of agreements and past study, what is the status of
reciprocity between the state programs, does it work and what
improvements would states like to see? State moderators will
sort out the details and make viewpoints known for all
participants to consider and comment.
Speakers:
Valerie M. Jundt, Senior Manager, Deloitte & Touche LLP
Barbara Rice, Assistant State Treasurer, South Carolina
Treasury
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How States Interact With The Asset Locater
Community
A panel of administrators will examine all aspects of their
offices’ practices in working with this growth industry. An open
forum will be held to discuss related issues and fraudulent
activity.
Speakers:
Carolyn Atkinson, Esq., Assistant General Counsel, West
Virginia Treasury
Walter Graham, Chief of Unclaimed Property, Florida
Department of Financial Services
Barbara Rice, Assistant State Treasurer, South Carolina
Treasury
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Unclaimed Property Systems Security:
Preventing and Detecting Fraud
Colleagues will share the common components of preventing,
detecting, and eliminating fraud in the unclaimed property
claims process. Model procedures and methodologies will be
discussed.
Speakers:
Malissa Hohmann, Director of Internal Audits, West
Virginia Treasury
Yaw Obeng, Superintendent of Unclaimed Funds, Ohio
Department of Commerce
Ken Wagers, Senior Vice President, ACS Wagers Unclaimed
Property Systems
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Optimizing Your Unclaimed Property Program
with Technology
What will the unclaimed property office look like in ten years,
maybe even next year? A panel of experts will answer this
question by presenting tools that are available now that can
dramatically improve the efficiency of your program.
Accomplishing more through software, skip-tracing, paperless
claims, electronic fund transmissions, and database matching
will be thoroughly explored. Leave the session with information
that can streamline your state’s operation.
Speakers:
Joshua Joyce, Esq., Director of Unclaimed Property,
Illinois Treasury
Ken Wagers, Senior Vice President, ACS Wagers Unclaimed
Property Systems
Patty White, Unclaimed Property Program Director,
Colorado Treasury
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New Legislation and Evolving Unclaimed
Property Statutes
Informed colleagues will present a comprehensive overview of
legislative activity of the past year. The Canadian viewpoint
will be included as well as the importance of your active
involvement in the legislative process.
Speakers:
Suzanne Darling, Vice President of Strategic Initiatives,
ACS Unclaimed Property Clearinghouse
Rob Huarte, Chief, Unclaimed Property Division,
California State Controller
Roch Lemay, Directeur principal, Revenu Québec
Stephen Larson, Deputy Treasurer, Iowa and NAUPA
President
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Defining NAUPA’s Modern Role
Within a few years, NAUPA will be 50 years old. This forum will
allow members to share their vision for moving the association
forward while continuing to fulfill its mission. Suggested
topics include but are not limited to training, coordinated
positive media exposure, compliance communication,
law-enforcement interaction, and international participation. A
tutorial of NAUPA’s new Web site features will also be
presented.
Moderator:
Hon. Shane Osborn, Nebraska State Treasurer
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Administering the State’s Unclaimed Stock &
Mutual Funds
Experienced state administrators will examine the increasingly
difficult management of a stock portfolio. Topics may include
what to look for in a custodian, integrating stock into your
unclaimed property software, balancing corporate actions,
retirement fund stock, and dividend payments.
Speakers:
Michael J. Ryan, Vice President of Escheatment, SMS Group
LLC
Rob Scott, Unclaimed Property Division Manager, Arkansas
State Auditor
Dana Terry, Senior Regulatory Compliance Analyst, DST
Systems, Inc.
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Mastering the Stock Portfolio
Reconciliation Process
States will present their experience reconciling stock and
mutual fund portfolios and the best practices to keep them in
balance.
Speakers:
John Gabriel, Director of Unclaimed Property, Tennessee
Treasury
Kathleen Lobell, Accountant Supervisor, Louisiana
Treasury
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High Performance Outreach and Claims
According to the most recent data, unclaimed property programs
returned $1.8 billion with 1,335 staff positions doing the work.
Learn what innovations will deliver even more money back into
the hands of rightful owners.
Speakers:
Kristi Carlow, Director of Internal Operations, Maine
Treasury
Kathy Janes, Unclaimed Property Director, Oklahoma
Treasury
Alex Kauffman, Director of Unclaimed Property, Nebraska
Treasury
Benny Spann, Unclaimed Property Director, Louisiana
Treasury
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When Does a 529 Plan Account Become
Unclaimed Property and What Happens Then?
This joint session with NAUPA and CSPN members will present the
work of the joint NAUPA/CSPN task force which is exploring how
the unclaimed property laws of each state apply to section 529
accounts, what issues that application creates, and how those
issues could be addressed.
Moderator: Kathleen McGrath, Director,
Pennsylvania Tuition Account Program & CSPN Treasurer
Speakers:
Scott Gates, Director of Learning Quest and General
Counsel
Stephen Larson, Deputy Treasurer, Iowa and NAUPA
President
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Why States Should Adopt the 1995 Uniform
Unclaimed Property Act
The Uniform Act will be thoroughly presented and discussed
to include many advantages for all states to adopt it.
Speaker:
Nicole Julal, Legislative Counsel, Uniform Law Commission
Unanswered Questions and Comments
Participants are invited to offer topics for further study by
the association or at future meetings and to make comments about
the conference.
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| Banking, Cash Management &
Investments |
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The Financial Crisis of 2008
This session will sketch the development of the financial
crisis, aiming to explain why what started as a realization that
a limited number of mortgages were bad has mushroomed into a
worldwide threat to prosperity and growth. It will outline the
measures that have been taken to resolve the crisis, discuss
whether they are likely to succeed, and consider the probable
longer-term impact of the crisis.
Speaker:
John Williamson, Senior Fellow, Peterson Institute for
International Economics
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Future of the Banking Industry
Major changes are rolling across the banking landscape -
including consolidation, recapitalization, globalization,
refocusing and re-pricing. How will these changes impact the
availability of credit, the level of customer service and the
cost of treasury services?
Speaker:
Steven O. App, Chief Financial Officer, Federal Deposit
Insurance Corporation
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Fixed Income Investment
Explore two divergent approaches to Fixed Income investing; this
session will compare investments based on treasury yield curve
forecasting and high yield bonds and the opportunities that
exist in the current marketplace for these types of assets.
Speakers:
Bill Gordon, Managing Member, Dix Hill Partners
Cheryl Rivkin, Director of Client Services, Muzinich &
Co.
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Improved Treasury Optimization
Learn to re-design treasury operations to significantly shorten
cycles, reduce costs, manage counterparty and liquidity risk,
ensure compliance and provide better visibility to critical
information.
Speaker:
Michael Berkowitz, Director, North America Liquidity,
Investments & Information Market Management Head, Citi
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Ethnographic Study of Treasury
Operations
See how to document and improve the daily operation of your
treasury through a Case Study of the New Mexico Treasury’s
experience with Ethnography.
Speaker: Paul Kizirian, Vice President, Wells Fargo
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Custodial Services
As financial markets fluctuate, state treasuries are required to
more aggressively monitor the market value of collateral within
their custodial banks. This session will examine the services
that custodial banks offer and strategies to implement those
services while assuring that the market value of the collateral
is always there.
Speakers:
Neil Wright, Senior Vice President, State Street
Tom Motley, Head of US Cash Management, State Street
Global Advisors
Scott H. Linden, Vice President, BNY Mellon
Michael Ruggiero, Vice President, BNY Mellon
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Short Term Investment – Managing
Credit Risk in a Volatile Marketplace
States are dealing with even greater challenges in managing the
liquidity of their operating funds. Liquidity challenges and
concerns with money funds “breaking the buck” have focused
attention on fundamental research. How do you evaluate the
complex multi-dimensional research structure of the funds you
invest in?
Speakers:
Andy Windmueller, Director of Institutional Portfolio
Management, Fidelity
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Alternative Long-term Investment
Portfolio
This session will discuss the diverse investment opportunities
available for the long-term investor as well as a forecast of
future investment opportunities coming out of the current
economic environment.
Speakers:
Robert Finkel, Managing Partner, Prism Capital
Tom Capasse, Principal, Waterfall Asset Management
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The Remaking of Financial Services
Recent events have touched every aspect of financial services
from companies to asset classes. Critical implications of these
changes for investment banks, commercial banks, mortgage
lenders, insurance companies, traditional asset managers and
hedge fund managers.
Speakers:
Barbara Novick, Vice Chairman, Blackrock Inc.
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Outsourcing Document Processing
This session will discuss the potential efficiencies and cost
savings when outsourcing document processing. The session will
highlight current and future techniques and how the process
could positively impact your treasury office.
Speaker: Eddy Whichard, Senior Vice President and
Director of Sales, Bank of America
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Payment Innovation - The Future
vision of E-Payments
This session will outline Oregon's approach to meeting the
challenges of E-Payments and their plans for the future. The
discussion will include highlights of technological advances,
mobile communications, security issues, and concepts for
addressing the payment needs of all constituents.
Speakers:
Brigid O'Callaghan, Senior Vice President and Western
Manager, U.S. Bank
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| Debt Management |
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Capital Markets Meltdown: What does it mean for the
Municipal Marketplace?
Macroeconomic upheaval has produced significant problems for the
municipal marketplace. This session will explore recent trends
in the muni market and what may be ahead with regard to
underwriters, bond insurers, rating agencies, debt purchasers
and more. This broad discussion will set the stage for more
specific topics throughout the conference.
Speaker: George Friedlander, Managing Director and
Fixed-Income Strategist, Citigroup
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Who is Buying our Bonds, Part 1: Institutional Sales
Part Two of “Who is Buying our Bonds” focuses on the
institutional investor. Given market liquidity concerns, will
such investors continue to be substantial purchasers of state
debt? Additionally, this session will explore ways to maximize
institutional sales, and when to issue competitively or by
negotiation.
Speakers: Mark Perry, Managing Director, Bond Logistix
Luke Gilroy, Research Analyst, Fidelity Investments
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Who is Buying our Bonds, Part 2: Retail Sales
As rates rise and institutional investors curtail purchases
in light of the unwinding of some Tender Option Bond programs
and liquidity concerns – especially among insurance companies –
retail sales will be increasingly important to issuers. In an
effort to better understand our customers, this session (first
of two) will focus on the retail buyer and ways to maximize
demand among this class of investors. This session will also
consider whether retail sales achieve better rates than
institutional sales and review innovative ways states market to
the retail investor.
Speakers: Katie Carroll, Executive Director, Public Finance
Division, CA Treasury
Monika Conley, Public Resources Advisory Group
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Public Private Partnerships: Privatizing Roads Case Study
With revenues shrinking and budgets under stress, states are
increasingly turning to alternative financing techniques to
address infrastructure needs. This session will present a case
study to examine the pitfalls and potential benefits of P3s.
Speakers:
Hon. Robin Wiessmann, Pennsylvania State Treasurer
Eric Petersen, Partner, Hawkins, Delafield & Wood
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Innovative Finance
Get a big picture look at non-traditional financing techniques
available to issuers to address their capital needs, including:
Pension/OPEB obligation bonds; GARVEE bonds; securitization; tax
increment financing; energy bonds; and public private
partnerships.
Speakers:
Cherian George, Managing Director-Americas, Fitch Ratings
Adam Stoll, Vice President, Public Sector Infrastructure
Banking, Goldman Sachs
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Coping with Disruptions to the Auction Rate and Variable
Rate Markets
The short-term debt markets have experienced considerable
disruption in recent months and present issuers and managers a
host of concerns regarding pricing, put features, credit
enhancement, liquidity, or lack thereof, and disclosure
obligations related to events in the short-term market.
Speakers:
Noreen White, Co-President, Acacia Financial
Bernard Beal, Chief Executive Officer, M.R. Beal & Co
Edith Behr, Vice President, Senior Credit Officer,
Moody's Investors Service
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Credit Ratings: Evolving Scales and Keys to Upgrades
This session will examine recent moves among credit rating
agencies to refine their credit analysis to reflect the
creditworthiness of municipal debt relative to corporate debt.
Panelists from each rating agency will discuss the criteria they
use when evaluating credits and the keys to a credit rating
upgrade.
Speakers:
Robert Kurtter, Moody's Investors Service
Robin Prunty, Senior Director, Standard & Poor's
Richard Raphael, Executive Managing Director, Fitch
Ratings
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Regulatory and Compliance Update
Review developments related to municipal market disclosure
and recent IRS enforcement actions including post issue
compliance and issuer obligations, dealing with audits, and
engaging and educating the Service regarding financing programs.
Speakers: Clifford J. Gannett, Director, Tax-Exempt Bond
Division, Internal Revenue Service
Michela Davis, Partner, Hawkins, Delafield & Wood
Tom Howard, Member, Municipal Securities Rulemaking Board
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The Future of Bond Insurance
The downgrades of many of the monoline insurers have affected
the credit quality of wrapped bonds and the future viability of
this industry. This session will consider the future for credit
enhanced bonds and what alternatives may be available as well as
disclosure when enhanced bonds are downgraded.
Speaker:
Mike Ross, Senior Vice President, Municipal Credit and
Strategies, Morgan Keegan
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Managing Bond Proceeds
The federal bailout of AIG and other market participants and the
withdrawal or failure of a number of investment banks has
dramatically impacted the ability of issuers to structure
Guaranteed Investment Contracts for the reinvestment of bond
proceeds and reserve funds. This session will focus on
alternatives for the investment or reinvestment of these funds.
Speaker:
Michael Harris, Managing Director, Public Financial
Management
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Financial Literacy |
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Activating Advocacy: Using Your Office to Spur Greater
Emphasis on Financial Education
A case study on how the North Carolina State Treasurer engaged
the NC Department of Public Instruction and corporate partners
to impact financial education efforts in North Carolina.
Speakers:
Jennifer Cohen, Chief of Staff, North Carolina State
Treasury
Bruce Nofsinger, Principal/Co-Founder, Topics Education
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Working Within the Existing Structure for Comprehensive
Financial Education
Learn how the West Virginia State Treasury has developed an
initiative to provide personal finance education to students
from kindergarten to the 12th grade.
Speakers:
Charles Bockway, Deputy Treasurer, West Virginia State
Treasury
Lynn Bennett, Program Manager, Net Worth Initiative
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Keeping Financial Literacy Tools Current for Your State
Residents in Fast Changing Environments
When market conditions are volatile and the economy is in a
downturn, how do you help your state residents understand and
manage their financial situations?
Speakers:
Hon. Alexi Giannoulias, Illinois State Treasurer
Kathryn Edmundson, Executive Director, SIFMA Foundation
for Investor Education
Dee Lee, Certified Financial Planner, Harvard Financial
Educators
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