2021 CMTA Conference - Agenda by SMA Launch

AGENDA

11 CPE Credits and CMTA Specialized Training will be Available for Keynote and General Session Presentations

WEDNESDAY, APRIL 28, 2021 12:30 pm – 1:30 pm

Welcome Remarks and Opening Keynote with California State Treasurer Fiona Ma and Deputy Treasurer Tim Schaefer

1:30 pm – 2:00 pm

Break / Visit Exhibit Hall

2:00 pm – 2:50 pm

GENERAL SESSION 1: Economic Update (1 CPE credit)

In this 2021 Economic Outlook presentation, we will look back at the historic events of 2020, discuss where the economy is in its recovery, and look forward to the challenges ahead. We will also discuss the economic policy implications of the 2020 election results. The outlook is improved, although challenges remain. Field of Study: Economics Program Level: Intermediate Prerequisite: Two years of treasury, finance, or capital markets education and/or experience Learning Objectives: • Identify the current factors influencing the U.S. economy. • Understand the historical and current factors that drive U.S. interest rates. • Apply an outlook for interest rates to various aspects and roles in government finance. Craig Dismuke, Economist, Vining Sparks

2:50 pm – 3:00 pm

Break / Visit Exhibit Hall

3:00 pm – 3:50 pm

GENERAL SESSION 2: Diversity – HR (1 CPE credit)

Diversity is a multi-faceted endeavor that should permeate all that we do as entities serving the public, from HR to procurement practices. This session offers three examples of how diversity plays out: in the workforce, 2) in policy creation, and 3) in practice. This session will include a look at PFM’s DEI strategy, now five years in practice, which includes recruitment, talent development and retention, culture, and external relationships. We’ll provide some practical takeaways for any agency considering a DEI strategy for the workplace. CDIAC will look at diversity through an SRI and ESG lens – summarizing the potential adoption of SRI strategies and ESG criteria; providing an overview of fundamental SRI and ESG concepts from CDIAC’s publication, Socially Responsible Investing – What Does It Mean and What’s the Risk?; and describing how some California local agencies have integrated SRI objectives and ESG criteria. Finally, the City of Oakland will offer its firsthand public agency perspective of how diversity looks in practice of selecting personnel, selecting broker/dealers and complying to ESG objectives.

Field of Study: Personnel/Human Resources Program Level: Intermediate Prerequisite: Two years of treasury, finance, or capital markets education and/or experience Learning Objectives: • List hiring practices and employee engagement strategies that support an internal culture around diversity, equity and inclusion (DEI) • Explain how DEI initiatives can create impactful teams and lead to innovations in the workplace • Identify restrictions and policy provide a framework for ESG investing strategies -- [statutory laws, policy, procedures, screening methods] • Compare and contrasts factors to consider when incorporating ESG investing -- [complexity, informal practice, flexibility, focus of criteria] David Jones, Treasury Administrator, City of Oakland Bonnie Levitt, Director of HR Strategy, PFM Financial Advisors LLC Monique Spyke, Managing Director, PFM Asset Management LLC Tara Dunn, Manager - Technical Assistance Section, CDIAC Moderated by Deborah Higgins, President, Higgins Capital Management Inc.

3:50 pm – 4:00 pm

Break / Visit Exhibit Hall

4:00 pm – 4:50 pm

GENERAL SESSION 3: Taxable Municipal Market Trends and Implications for Issuers and Investors (1 CPE credit)

Debt issued by state and local governments, other public agencies, and some non-profit institutions is primarily tax-exempt, right? Well, yes generally, but…there was the phenomenon in 2009 and 2010, prompted by the federal Build America Bonds program, that led to increases in taxable municipal supply. Recently the municipal market has experienced a similar surge in taxable bonds. In 2020, taxable municipal issuance comprised 36% of total municipal issuance – up from an average of 12% of total issuance over the last five years1. Is this yet another blip in the municipal issuance environment or a sign of an evolving municipal debt issuance landscape? This panel will explore what’s behind the recent surge in taxable municipal supply and discuss the implications for the taxable municipal issuer and investor. Some of the factors driving the current taxable issuance trends to be explored are: • Taxable Advance Refunding Bonds • Pension Obligation Bonds • Housing, Homeless, and other ESG (environmental, social and governance-oriented) Oriented Projects and Financings Source: Bloomberg.

Field of Study: Finance Program Level: Intermediate Prerequisite: Two years of treasury, finance, or capital markets education and/or experience Learning Objectives: • List the factors leading to an increased issuance of taxable municipal debt over the last several years. • Name the variables a governmental agency would want to consider before issuing taxable debt. • Identify the trade-offs or pros-cons of a taxable debt issuance in meeting policy and/or financial objectives of your organization. • Evaluate the value of taxable municipal debt as a component of your agency’s investment portfolio. Luke Brewer, Debt Specialist, City and County of San Francisco Nikolai J. Sklaroff, Deputy Director, Debt & Treasury Management, City of San Jose Melissa Shick, Director, KNN Public Finance

5:00 pm – 6:00 pm Social Event – Networking Breakouts Join Zoom breakout rooms to connect with colleagues on conference topics/sessions or casual conversation! 5:00 pm – 6:30 pm

Social Event – Game Night

Enjoy playing your favorite game shows while simultaneously meeting fellow colleagues. If that isn’t enough to be excited about, winners get an awesome prize! Join on a Zoom call with your laptop (preferred) or phone to experience numerous types of game shows in small group settings (with or without your camera on). An upbeat host will enthusiastically lead you and your new friends through exciting and engaging entertainment that will have you smiling big throughout.

THURSDAY, APRIL 29, 2021 10:00 am – 10:50 am GENERAL SESSION 4: Agency Panel (1 CPE credit) What do you need to know from Agency-Land to make better informed choices for your portfolios? Representatives from FHLB, Fannie Mae, Farmer Mac and Farm Credit, several of the largest GovernmentSponsored Enterprises (GSEs) will give an overview of their business results, funding program highlights including issuance trends. In addition to these factors affecting the supply of debt securities, the GSEs will discuss the impact of COVID 19 on their balance sheets and the response of their businesses to the pandemic. Field of Study: Finance Program Level: Intermediate Prerequisite: Two years of treasury, finance, or capital markets education and/or experience Learning Objectives: • Compare and contrast the business models of several of the largest GSEs and the differentiating factors among them. • Identify the funding programs and drivers of issuance of the individual GSEs to better understand the supply of Agency debt securities. • Recognize how the pandemic has impacted the GSEs and how their businesses responded to changes in the market. Denise DeBombelles, SVP Global Investor Relations, FHLB Office of Finance Tyra Whelton, AVP Investor Relations, Farm Credit Funding Corporation Diane Asuncion, Manager, Fixed Income Strategy, Farmer Mac Anthony Silva, Director, Treasury Capital Market, Fannie Mae

10:50 am – 11:00 am Break / Visit Exhibit Hall 11:00 am – 11:50 am GENERAL SESSION 5: The Intersection of Geopolitical & Macro (1 CPE credit) Major General James A. “Spider” Marks will address and discuss the major geopolitical themes, tensions, and issues driving international policy and creating macro‐economic risk. He will open by discussing the era of great power competition and what we can expect from a new Biden administration. He will examine the continued importance of labelling China a “Strategic Competitor” and how this shift in policy towards a more multinational approach will impact strategies across the main elements of national power; diplomacy, information, military, and economics (DIME). General Marks will also highlight other significant geopolitical issues that may create risk or have policy implications, including current events at the time of the conference. Peter Tchir, Head of Marco Strategy will give a brief overview of his macro-outlook while contextualizing the geopolitical landscape’s potential impact on the economy and markets. They will address how Rare Earths, ESG and even cryptocurrency is shaping policy, both creating new challenges but also presenting new opportunities for businesses, investors and local governments. General Marks has deep expertise in the historic and ongoing challenges with North Korea, security issues in the Middle East, and the growing competition and opportunity for partnership in the South China Sea. General Marks is a charismatic and dynamic speaker. Questions from the audience and suggestions on topics of interest are highly encouraged.

Field of Study: Economics Program Level: Intermediate Prerequisite: Two years of treasury, finance, or capital markets education and/or experience Learning Objectives: • Identify how China being labelled as a strategic competitor to the US will impact strategies across the main elements of national power • Compare and contrast how the Biden administration’s foreign policies may differ from the previous administration. • Identify current geopolitical risks and how our relationships with our allies, adversaries and partners may evolve. Major General (Ret.) James A. “Spider” Marks, Head of Geopolitical Strategy, Academy Securities Peter Tchir, Head of Macro Strategy, Academy Securities

11:50 am – 12:00 pm Break / Visit Exhibit Hall 12:15 pm – 1:30 pm

Board Installation, Business Meeting, and Keynote: “We’ve Always Done It That Way Is Over: What’s Next?” (1 CPE credit)

During these times of unprecedented and disruptive change, leaders must improve their ability to manage a perplexing paradox - how to stay focused on today’s business while building tomorrow’s. To move forward, leaders must themselves, and develop in their employees, the ability to toggle between being responsive and proactive. In this session, three degrees of change will be shared along with next practices about reimagining their community, redesigning the consumer experience, resetting their workplace culture, and refreshing talent management. Field of Study: Business Management & Organization Program Level: Intermediate Prerequisite: Two years of treasury, finance, or capital markets education and/or experience

Learning Objectives: • Recognize the type of change their department should actively pursue. • Describe opportunities to work with elected officials in reimagining your community. • Identify ways to improve the value of the consumer experience they provide both online and in person. • Define ways to modernize an approach to attracting and developing their talent - workforce. • List ways to strengthen workplace culture as a driver of organizational effectiveness. Patrick Ibarra, Co-Founder and Partner, The Mejorando Group

1:30 pm – 2:00 pm

Break / Visit Exhibit Hall

2:00 pm – 2:50 pm

GENERAL SESSION 6: Put a Spin on Those Investments: Embracing Diversification in Your Portfolio (1 CPE credit)

Game on! This interactive game will spin you through the various ways you can diversify your fixed income portfolio. Our wheel will select one of our contestant panelists (or will it land on the audience?) to answer multiple choice questions followed by a brief discussion of the correct answers. Who will the wheel land on? Join us to find out! Field of Study: Finance Program Level: Intermediate Prerequisite: Two years of treasury, finance, or capital markets education and/or experience

Learning Objectives: • Describe diversification practices as they relate to California Government Code • Identify strategies for diversifying fixed income investments • List the types of risks reduced by diversification • Describe the potential impact of diversification on return and yield

Lauren Warrem, Director of Finance, County of San Diego Carlos Oblites, Senior Portfolio Strategist, Chandler Asset Management Sarah Meacham, Managing Director, PFM Asset Management LLC

2:50 pm – 3:00 pm

Break / Visit Exhibit Hall

3:00 pm – 3:50 pm

GENERAL SESSION 7: Where Do You Go with Your Money? (1 CPE credit)

This session will discuss current interest rate expectations and look back to past economic, monetary and rate cycles in disinflationary, zero-rate and inflationary environments. This session will also provide insight into the current cash management and ongoing expectations from LAIF, one of your cash management tools in the current environment. Field of Study: Finance Program Level: Intermediate Prerequisite: Two years of treasury, finance, or capital markets education and/or experience Learning Objectives: • Identify how interest rates may trend in disinflationary, zero-rate or inflationary conditions. • Describe how to use LAIF as a money market cash management tool. • Garner the insight needed to assess where LAIF may be headed. Doug Robinson, Principal, RCM/Securities America, Inc. Jeff Wurm, Assistant Director of Investments, LAIF

4:00 pm – 5:30 pm

Social Event – Game Night Round 2

FRIDAY, APRIL 30, 2021 9:00 am – 9:50 am

GENERAL SESSION 8: Real World Case Studies: Investing and Portfolio Management (1 CPE credit)

One of the best forms of education is learning from the successes and struggles of others. This session will walk through several real-life examples, both good and bad, of issues faced by fiscal officers and provide practical advice on how you can avoid those pitfalls. Field of Study: Finance Program Level: Intermediate Prerequisite: Two years of treasury, finance, or capital markets education and/or experience Learning objectives: • Describe the importance of having an investment strategy. • Identify factors that need to be considered to “right-size” your investment portfolio. • Identify investment constraints and parameters to ensure responsible continuity within an investment program. Jason Headings, Sr. Vice President, Meeder Investment Management Donald Patterson, CCMT, Director of Finance & Administration, Las Virgenes Municipal Water District Hubert R. White III, CFA, CTP, Investment Officer/Assistant Portfolio Manager, City and County of San Francisco

9:50 am – 10:00 am

Break / Visit Exhibit Hall

10:00 am – 10:50 am GENERAL SESSION 9: Fraud - Cyber Security (1 CPE credit) Overview of Financial Fraud and Money Laundering schemes perpetrated in the San Francisco area while highlighting several FBI priorities. We will provide the basics of a financial investigation and ways to avoid being a victim of Financial Fraud.

Field of Study: Information Technology Program Level: Intermediate Prerequisite: Two years of treasury, finance, or capital markets education and/or experience Learning Objectives: • Identify the basics of financial investigations. • Recognize the threats that affect businesses that include Business Email Compromise and Embezzlements. • Name the indicators to avoid being a victim of Financial Fraud. SSA Lester Kwok, Supervisory Special Agent, FBI SSA Michael Roldan, White-collar Supervisor, FBI

10:50 am – 11:00 am Break / Visit Exhibit Hall 11:00 am – 11:50 am GENERAL SESSION 10: Treasurers’ Panel (1 CPE credit) The duties performed by treasury professionals across the State are as diverse as the individuals responsible for doing them. Still, no matter your role, your duty as a steward of public funds is paramount. Join us for a behind the scene look at the economic challenges and financial concerns facing both elected and appointed treasurers and treasury professionals today. Field of Study: Specialized Knowledge Program Level: Intermediate Prerequisite: Two years of treasury, finance, or capital markets education and/or experience Learning Objectives: • Identify the most pressing challenges currently facing treasury managers. • Compare and contrast the process of developing cash and investment management strategies based on your entity’s size, goals, and available tools. • Name the techniques experienced practitioners use to increase productivity while optimizing internal resources. Connie Mobley-Ritter, Director/Treasurer, San Mateo County Transit District Henry “Hank” Levy, Treasurer, Alameda County Shaun Farrell, CCMT, Elected City Treasurer, City of Galt Moderated by Susan Munson, Managing Director, Cantor Fitzgerald & Co.

11:50 am – 12:00 pm Closing Remarks 12:00 pm

Conference Concludes

CMTA’s Annual Conference has become the premier event for treasury education in California. The safety of our members, sponsors, and staff is of paramount importance to the CMTA Board and as such we have made the decision to have the 2021 Annual Conference virtually. The 2021 Conference theme is Embracing Diversity and we will be presenting topics that focus on diversity of portfolio, leadership, strategy, staffing, and social equality from April 28-30, 2021.

REGISTRATION RATES - ENDS APRIL 23, 2021 • Member Registration (Government / Commercial): $175 • Non-Member Registration (Government / Commercial): $290 Become a Member of CMTA! Current Municipal Members can apply for a Conference Scholarship here: https://www.surveymonkey.com/r/NTPHSLH (Deadline is April 23, 2021)

REFUND POLICY

$25 fee for cancellations received on or before Wednesday, April 14, 2021. No Refunds after April 14th. All cancellation requests must be submitted in writing to Kristina at kristina@cmta.org.

CANCELLATION POLICY

In an event of cancellation of the 2021 Annual Conference, all registrants will be notified by email. All registration fees will be refunded in full in the form that the payment was submitted. Refunds will be processed within two weeks of the cancellation notification.

COMPLAINT RESOLUTION POLICY

For more information regarding administrative policies such as complaints, please contact Yelena Martynovskaya at (916) 231-2144 or yelena@cmta.org. 8