Leadership. Responsibility. Growth. Sustainability.

Program in partnership with the National Association of State Treasurers (NAST) Foundation

2023 Curriculum Theme

Leadership Responsiveness in the New World of Work

*Faculty and speakers are being announced daily. Sessions, faculty, and speakers are subject to change.

All Tracks and Sessions

Day 1: Sunday, July 16

11:00 a.m.–2:00 p.m.
3:00–4:15 p.m.
Introduction to Public Finance & Debt Management Track: The State of Public Finance (PFDM)
Treasurers and public finance experts lead a discussion of the issues facing public finance in the wake of COVID, the increasing impact of public policy, demographic changes, inflation and economy, focusing on obstacles and solutions.
3:00–4:15 p.m.
Treasurers Leadership (ETM)
Topics on Leadership in the New World of Work – A Chat with Four Treasurers
3:00–4:15 p.m.
Overview of the Public Pension Investment Governance Process (IP)
Investment Governance Process and Models Reviewed: A consideration of the key actors in the process and their roles, particularly among the Board, Executive Director, CIOs and the internal investment teams.
4:30–5:30 p.m.
NIPF Opening Keynote: 76th United States Secretary of the Treasury Jack Lew (Core)
Jack Lew was confirmed by the United States Senate on February 27, 2013, to serve as the 76th Secretary of the Treasury. Secretary Lew previously served as White House Chief of Staff. Prior to that role, Lew was the Director of the Office of Management and Budget (OMB), a position he also held in President Clinton's Cabinet from 1998 to 2001. Before returning to OMB in 2010, Lew first joined the Obama Administration as Deputy Secretary of State for Management and Resources.

Day 2: Monday, July 17

8:00–9:00 a.m.
Continental Breakfast
9:00–10:15 a.m.
Keynote Panel Discussion: “From the Treasurers’ Perspective” (Core)
10:30–11:45 a.m.
Today’s Market Conditions and Their Implications for Financing (PFDM)
Market experts will frame the landscape of the capital market’s structure and current conditions with a special focus on the changes in interest rates, liquidity and investor demand. Additionally, they will invite discussion on how optimize resources from increased revenues and federal stimulus towards capital planning, in light of the above conditions.
10:30–11:45 a.m.
Recruiting and Retention Challenges (ETM)
• Articulating Goals and Objectives for Treasury operations

• How do we set HR policies and procedures (what are the process considerations)?

• How do we attract or cover non-traditional pools of professionals (focus on broad representation)

• Are there salary and benefit components to consider in light of the change in the work force?

• "Cost of doing business” - how do you handle the dichotomy of wages for new versus longer tenured employees

• What is the engagement strategy for our team?

• How do you frame attrition as a leadership issue?

• This will be Solution Driven!
10:30–11:45 a.m.
Investment Policy Setting Process (IP)
A discussion about setting the goals and processes for the plan, including the investment policy statement, strategic plan, risk tolerance level, and asset allocation.
11:45 a.m.–1:00 p.m.
1:00–3:00 p.m.
The Impact of Macro Events on the Public Finance Mission (PFDM)
Part I: An overview on how the mission of public finance – delivering essential services and public infrastructure - has evolved with an emphasis on navigating policy, access to resources and challenges to delivery of services. This session will use case studies from different jurisdictions to profile successes and challenges.

Part II: Breakout for specific sector discussions on housing, broadband, energy transition, water availability and education.
1:00–1:45 p.m.
Leadership Development Strategies (ETM)
• How do you develop professionals from within / how do you build your bench?

• What are the dynamics of the work force today – particularly what drives succession planning – how do we identify and plan for succession?

• What management training opportunities should be considered

• Are there differences between large and small offices and how do we balance political versus professional staff, particularly on development issues?
1:00–1:45 p.m.
Implementation of Investment Policy (IP) 
Assembling and managing the investment team. Deciding what investing should be done internally versus externally and actively versus passively. Determining parameters of delegated authority to staff. Use of co-investments, secondaries and other investment structures. Deciding which external experts should be retained and why and how (e.g., consultants (general versus specialist), attorneys, appraisers).
2:00–3:00 p.m.
Change Management for the Office—A Teaching Session (ETM)
• What is change management (you can’t make good decisions amid chaos so how do you manage change)?

• How do we prepare for transitions, particularly when we know it is coming in advance (e.g., term limits versus election results)

• How do we make sure change initiatives don’t fail?

• What are the steps to effective change?

• Are there operational considerations for a new work environment?

• Are there tools we can share to manage change (this comes from the July 2022 meeting with the Advisory Board)

• Physical operating changes (brick and mortar vs WFH)

• Biggest challenge is engagement … it’s not just rolling out new policies and procedures but it’s getting people to adopt them

• This would be the “how-to” session
2:00–3:00 p.m.
Setting Performance Goals and Expectations (IP)
Benchmarking the different asset classes and monitoring tracking error against the benchmarks. Investment pacing and dry powder.
3:00–4:15 p.m.
Joint Session - A Discussion with Regulators (PFDM)
A joint session with the Executive Treasury Management Track (ETM) where Treasury, SEC and MSRB leaders will review priorities, offer insights on the key regulatory topics of the day, and engage in Q&A.
3:00–4:15 p.m.
Joint Session - A Discussion with Regulators (ETM)
A joint session with the Public Finance and Debt Management Track (ETM) where Treasury, SEC and MSRB leaders will review priorities, offer insights on the key regulatory topics of the day, and engage in Q&A.
3:00–4:15 p.m.
External Manager Selection (IP) 
A granular discussion led by consultants and CIOs about how external managers are selected and retained by asset class.

Day 3: Tuesday, July 18

8:00–9:00 a.m.
Continental Breakfast
9:00–10:15 a.m.
Embracing and Integrating Generational Workforce Elements (Core)
10:30–11:45 a.m.
Addressing Risk Factors That Impact the Cost of Issuance (PFDM)
How to identify and address enterprise risk factors that contribute to higher or lower costs of financing, including climate risk, demographics and governance.
10:30 a.m.–12:00 p.m.
Organizational Design for the Delivery of Constituent Services (ETM)
• How do we “build a better mousetrap for the public?” (e.g., how do you develop, manage and improve call centers)

• What’s the “change” impact in the delivery of services? (consider, too, language and accessibility issues)

•How do we gauge, measure and test User Experience?

• How do we blend technology with constituent services (e.g., benefits payments, payment alternatives – even for consumer facing programs)?

• An important element here is that States are responsible for the work provided by the private sector, so there is a delivery of services to the States and then the delivery of services to the constituents. The Advisory Board would like both points addressed

• How do partners manage both the state’s expectations and the retail consumer

• [Gary will share an article on Organizational Design]
10:30–11:45 a.m.
Understanding Investment Terms and Concepts in the Investor-Manager Relationship (IP)
A discussion of some of the key economic and legal terms involved in the investor-manager relationship, e.g., commingled funds, separately managed accounts, drawdown structures, management fees, carried interests, waterfalls, hurdles, clawbacks, catch-ups, key person provisions, sidecars, and gating. Role and importance of LPACs.
11:45 a.m.–1:00 p.m.
1:00–1:45 p.m.
Technology’s Growing Role in Public Finance (PFDM)
A panel of technology solutions providers will discuss the use cases for specific technologies like public safety management, water system efficiency, blockchain applications and using market data
1:00–2:15 p.m.
Governance and Oversight (ETM)
• An opportunity to identify from the top a variety of risks faced by Treasury organizations or as managers of public fund programs (e.g., financial institutions, economic markets, litigation, cybersecurity and related fraud)

• What factors or indicators should administrators look for?

• How do the factors get assess?

• What is the appropriate response to complex situations (it may depend on the risk itself) and how do you respond to complex situations
1:00–1:45 p.m.
Investment Performance Monitoring and Measurement (IP)
Understanding financial reporting terms, e.g., IRR, equity multiple, time-weighted return, and denominator effect.
2:30–3:45 p.m.
Policy Initiatives (ETM)
• Topics to be determined by the Deputies / COS Committee

• Is there a policy initiative here? How do we gauge, measure and test User Experience?

• Employment policies?
3:00–4:15 p.m.
Joint Session - Building resilient infrastructure (PFDM)
In a joint session with the Pensions & Investing track, investors and allocators will discuss the need for and value of integrating sustainability into US public infrastructure projects
3:00–4:15 p.m.
Joint Session - Building resilient infrastructure (IP)
In a joint session with the Pensions & Investing track, investors and allocators will discuss the need for and value of integrating sustainability into US public infrastructure projects.

Day 4: Wednesday, July 19

7:30–8:30 a.m.
Continental Breakfast
8:30–9:45 a.m.
On the Horizon - Technology Integration into Treasury – Highlighting AI and ChatGPT (Core)
10:00–11:45 a.m.
Key Takeaways and General Q&A (PFDM)
Leading treasurers will moderate a discussion of the key insights and takeaways from the Public Finance and Debt Management track’s sessions and curriculum.
10:00–11:45 a.m.
Lessons Learned / Take-aways (ETM)
• Are there particular policies or lessons that can be implemented right away or in the near term?

• Part of this discussion should also be how NAST or other entities (maybe even the Corporate Sponsors) can help deliver or facilitate solutions to issues raised.

• Ultimately, the content of this session will be driven by the Deputies / Chiefs assigned as Panelists
10:00–11:45 a.m.
Investor Roundtable Recap (IP)
This closing session will feature a recap led by members of the NIPF Investor Board. It will include a real time survey of the Treasury officials about which sessions they found most useful. It will also elicit which topics the Treasury officials which to discuss post-NIPF. A goal will be to keep the discussion alive and to have the NIPF serve as an ongoing resource for Treasury officials involved in the investment process.