Leadership. Responsibility. Growth. Sustainability.

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

Celebrating 10 Years of Empowering Public Finance Leaders | July 20–23, 2025 | Pepperdine University | Malibu, CA

Celebrating 10 Years of Empowering Public Finance Leaders | July 20–23, 2025 | Pepperdine University | Malibu, CA

2025 Curriculum

Leadership Responsiveness and Risk Mitigation in the New World of Treasury Management

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

All Tracks and Sessions

Day 1: Sunday, July 20, 2025

12:00–2:00 p.m.
Registration and Light Welcome Lunch
2:00–3:00 p.m.
Welcome and Opening Remarks
3:00–4:15 p.m.
Introduction to the Track  (PFDM)
3:00–4:15 p.m.
Treasurers’ Perspective (ETM)
Leadership in the Face of Change
Faculty/Speakers:
3:00–4:15 p.m.
Overview of the Public Pension Investment Governance Process (IP)
Examine the roles of key stakeholders—Board members, Executive Directors, CIOs, and internal investment teams—in establishing effective governance structures for public pension investments.
4:30–5:30 p.m.
NIPF Opening Keynote: Former Deputy Treasury Secretary Justin Muzinich (Core)
Faculty/Speakers:
6:00–8:00 p.m.
Welcome Dinner: Novo Café
Novo Café (Italian) - Westlake Village

Day 2: Monday, July 21, 2025

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.
Current Market Trends and Outlook (PFDM)
Provide an overview of current market dynamics and outlook while highlighting relevant financing structures observed in the market.
10:30–11:45 a.m.
Organizational Structures: Strategies, Goals and Best Practices (ETM)
Concept – strategy means understanding mission (e.g., public demands and / or legislative expectations) and defining vision, and establishing key goals and milestones for measurement (which includes the importance of policies and procedures). Another way to capture this is “SMART,” which includes Specific, Measurable, Achievable, Relevant, Time-bound Goals.
10:30–11:45 a.m.
Defining Success in Public Pension Systems (IP)
Explore essential metrics for evaluating pension fund performance—such as investment returns, funded status, and long-term sustainability—to ensure alignment with stakeholder objectives.
11:45 a.m.–1:00 p.m.
Lunch
12:45–2:00 p.m.
Investor Roundtable (PFDM)
This is an opportunity to hear directly from institutional investors regarding their perspectives on the municipal sector and subsectors. They will explore market forces driving their investment strategies as well as new products which are driving demand for various structures.
Faculty/Speakers:
12:45–2:00 p.m.
Human Resources and Capital Management: Assessment, Development, and Empowerment (ETM)
Effective management requires an assessment of human capital (i.e., personnel), particularly from the perspective of where we need to be in the future (“how to scope your needs”). Can we use data to identify personnel gaps, empower teams, and create succession plans? Could also include the importance of policies and procedures.
12:45–1:45 p.m.
Investment Policy Setting and Strategic Asset Allocation (IP) 
Discuss the formulation of investment policy statements, strategic investment planning, risk tolerance assessments, and asset allocation frameworks to align investment activities with pension fund objectives.
Faculty/Speakers:
2:00–3:15 p.m.
Data Analytics: Using Data to Drive Decisions (ETM)
Data can justify (or not) policies and programs imposed upon or initiated by Treasury Offices. How do we identify and address data needs (e.g., internal build or through external opportunities) and how do we deploy data to make decisions, evaluate sustainability and build support for programs and initiatives? This session could be a natural build from the assessment concepts discussed in Session 3.
Faculty/Speakers:
2:00–3:00 p.m.
External Manager Selection and Due Diligence (IP)
Delve into industry best practices for selecting and overseeing external investment managers across various asset classes, emphasizing rigorous due diligence processes and structured evaluation frameworks.
2:00–3:15 p.m.
Federal Funding Landscape: Changes, Challenges, Risks, and Opportunities (PFDM)
This session is an opportunity to hear insights from industry experts regarding the rapidly changing federal policy environment.
Faculty/Speakers:
3:15–4:30 p.m.
Regulator Roundtable (PFDM)
Representatives from the SEC and MSRB discuss current regulations and emerging initiatives.
Faculty/Speakers:
3:15–4:30 p.m.
Technology Innovation: Assessing Systems and Implementing Change (ETM)
Technology advancements force us to assess legacy systems and processes. When change is imminent, how do we create an action plan to “close the gap”? In doing so, are there cultural or other factors that inhibit change effectiveness?
3:15–4:30 p.m.
Managing Risk in an Era of Market Volatility and Geopolitical Uncertainty  (IP) 
Explore strategies for managing investment risk amid heightened market volatility and geopolitical uncertainty. This session will examine how deglobalization and geopolitical tensions impact asset allocation and long-term investment strategies, providing investors with practical insights for navigating uncertainty.
6:30–9:30 p.m.
Dinner and Reception at The Sunset Malibu
The Sunset Restaurant - Malibu

Day 3: Tuesday, July 22, 2025

8:00–9:00 a.m.
Continental Breakfast
9:00–10:15 a.m.
Fireside Chat with Wesley Bull (Core)
CEO Sentinel Resource Group
10:30–11:45 a.m.
Innovative Financing Strategies to Manage Social and Environmental Challenges: (PFDM)
States, Local governments and higher education institutions continue to seek policy and financing solutions to stabilize insurance markets and address the multitude of headwinds facing higher education. The objective of this session is to take a deep dive the higher education sector and insurance markets.
Faculty/Speakers:
10:30 a.m.–12:00 p.m.
Vendor Management: Choosing the Right Team and Smooth Transitions (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
10:30–11:45 a.m.
Private Credit, Risk, and Yield in a Higher-for-Longer Interest Rate Environment (IP)
Examine the evolving role of private credit in diversified portfolios within a persistently elevated interest rate landscape. The session will highlight current trends in direct lending, asset-based finance, and opportunistic strategies, addressing implications for credit risk, liquidity, and portfolio resilience.
11:45 a.m.–1:00 p.m.
Lunch
1:00–2:15 p.m.
Managing Through Economic and Policy Uncertainty (PFDM)
This session will explore strategies to manage through federal policy and economic uncertainty.
Faculty/Speakers:
1:00–2:15 p.m.
Governance: How to Accomplish Objectives and Strategies (ETM)
What impact does change have on our fiduciary duties as fiscal stewards; what are the considerations and implications for Treasury Departments?
Faculty/Speakers:
1:15–2:30 p.m.
Real Assets, Public Purpose, and Portfolio Strategy in a Shifting Market (IP)
Discuss the strategic role of real assets such as real estate and infrastructure within institutional portfolios, balancing financial returns with public purpose objectives amid shifting market conditions and stable valuations.
2:15–3:30 p.m.
Private Capital & Infrastructure (PFDM)
Discuss the applications of both the established Private Equity market and the fast-growing Private Credit market to transportation and social infrastructure. Topics span P3 models for various project types and the new landscape for privately sourced capital for projects.
Faculty/Speakers:
2:30–3:45 p.m.
Policy Initiatives: Blending Operations and Aspirations – Policy Initiatives (ETM)
Could include financial empowerment and education, savings programs, other income-driven initiatives, ideally showing how data can drive the policy decisions Treasury leaders make).
3:00–4:15 p.m.
From Theory to Practice: Navigating Real-World Investment Challenges in Liquidity and Portfolio Construction  (IP)
Senior institutional investors share practical insights into managing the operational and strategic challenges of implementing investment strategies amid market volatility and shifting macroeconomic conditions.
Faculty/Speakers:
3:30–4:45 p.m.
Financing Resilient Infrastructure (PFDM)
Discussion focused on challenges, opportunities and financing tools within the transportation and utilities sectors.
Faculty/Speakers:
5:00–9:30 p.m.
Dinner and Reception at the Reagan Library
Reagan Presidential Library and Museum

Day 4: Wednesday, July 23, 2025

8:30–9:00 a.m.
Continental Breakfast
9:00–10:15 a.m.
Straus Institute Session with Thomas J. Stipanowich (Core)
Thomas J. Stipanowich is William H. Webster Chair in Dispute Resolution and Professor of Law at Pepperdine University, as well as Professor of Law at the Straus Institute for Dispute Resolution (ranked number one among academic dispute resolution programs in thirteen of the last fifteen years by U.S. News & World Report), where he teaches courses in negotiation theory and practice, mediation, arbitration practice and advocacy, international commercial arbitration and international dispute resolution.
Faculty/Speakers:
10:30–11:45 a.m.
Senior Investor Roundtable: Key Takeaways and the Road Ahead (PFDM)
TBD
10:30–11:45 a.m.
Lessons Learned: Bringing the ETM Back Home (ETM)
Featuring deputies, chiefs of staff to highlight takeaways from the week's sessions.
10:30–11:45 a.m.
Digital Assets and Blockchain in Public Finance: Portfolio Innovation, Policy Momentum, and Operational Efficiency (IP)
As digital assets and blockchain technology mature, state treasuries and public pension systems are increasingly exploring their role in diversified investment portfolios and operational infrastructure. This session will examine the emerging investment case for digital assets, including Bitcoin ETFs, tokenized securities, and on-chain private market products, as well as the growing legislative momentum in statehouses across the country that authorizes public investment in digital assets.

Panelists will also discuss how blockchain can drive operational efficiencies in areas such as payment systems, cash management, and recordkeeping. With participation from leaders in both asset management and blockchain infrastructure, this session will provide a practical, policy-aware roadmap for public finance professionals considering exposure to this evolving asset class.
10:30–11:45 a.m.
Senior Investor Roundtable: Takeaways and the Road Ahead (PFDM)
12:00 p.m.
Closing Remarks