David Erdman

Strengthening the Deal: Credit Enhancement & Refundings
Tuesday, October 6, 12:25 - 1:20 PM

Managing Director
Baker Tilly

David Erdman is a managing director at Baker Tilly Municipal Advisors, LLC. David is nationally recognized public finance executive with more than 35 years advising governmental issuers, managing large-scale debt portfolios, and leading complex municipal finance transactions. David is an active advocate for municipalities in the municipal bond market and leads the national large issuer team and supports other Midwest issuers. He has extensive working relationship with many regulatory agencies along with significant experience with multiple types of credits and transactions.

David directed all aspects of the State of Wisconsin debt and financing programs overseeing approximately 300 State of Wisconsin bond/notes issues in aggregate par amount of nearly $50 billion – strategy, sale, issuance, disclosure, regulatory compliance, and investor communications. He played a key role in the legislative authorization, sale, and issuance of obligations for large projects in the State of Wisconsin, including the Fiserv Forum, Foxconn Development in the Village of Mount Pleasant and expansion of the Wisconsin Center District.

As municipal advisor, David maintains relationships and leads financial alternative discussions with states, large cities, and Wisconsin municipalities, completing new money transactions and various refunding approaches. He is a past Chair of the State Debt Management Network (SDMN), past member of GFOA’s Committee on Governmental Debt Management, and current member of the National Association of Municipal Advisors (NAMA). He is also a current member of the Disclosure Industry Workgroup organized by GFOA and on the Board of Advisors for the University of Chicago Center for Municipal Finance. David is currently a registered municipal advisor (Series 50 and Series 54) with the Securities and Exchange Commission.

Ernesto Lanza

Regulatory Environment: What Issuers Need to Know
Tuesday, October 6, 1:30 - 2:00 PM

Chief Regulatory and Policy Officer
Municipal Securities Rulemaking Board

Ernesto A. Lanza is Chief Regulatory and Policy Officer of the Municipal Securities Rulemaking Board (MSRB). He leads the Market Regulation Department, which is responsible for MSRB rulemaking activities, professional qualifications program, and regulatory coordination and enforcement support to the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority and federal banking regulators. He also provides strategic insight and counsel on regulatory policy matters.

Ernie previously served in private practice representing market participants on municipal bond, 529 college savings plan and related regulatory, transactional, policy, examination, and enforcement matters. Prior to that, he served as acting director of the SEC’s Office of Municipal Securities as well as with the MSRB as its former deputy executive director and chief legal officer, leading the initial design, development and launch of the EMMA website.

Ernie received a BA from Harvard University and JD from the University of Pennsylvania Law School.

Emily Metzler

Building the Deal Team: Selecting & Managing Professionals
Tuesday, October 6, 4:20 - 4:55 PM

Managing Director
Stifel Nicolaus & Company, Inc.

Emily Metzler brings nearly two decades of experience to her role as a Public Finance Managing Director at Stifel. Prior to joining Stifel, she served as Chief Operating Officer and Chief Compliance Officer at MuniCap, Inc., a registered municipal advisor. Throughout her career, Emily has supported catalytic real estate public finance development projects in over thirty states and has been involved in the issuance of more than $2 billion in development district bonds.

Her expertise spans the full lifecycle of financial structures for public and private investment projects—from initial concept and capitalization to post-issuance administration. Emily is particularly well-versed in a variety of financing and revenue mechanisms, with a strong focus on tax increment financing, special assessments, and special taxes.

An active leader in the industry, Emily contributes her insights to several professional organizations, including the Association of Public Finance Professionals, the Urban Land Institute, Lambda Alpha International, and Women in Public Finance. She serves on the board of the Council of Development Finance Agencies (CDFA). Additionally, she has completed two terms on the MSRB Compliance Advisory Group, offering municipal market expertise to the MSRB.

Emily holds her Series 50, 54, 53, and 62 licenses, as well as the Securities Industry Essentials (SIE) credential, to support her expanded role at Stifel.

Nicole Riggs

Strengthening the Deal: Credit Enhancement & Refundings
Tuesday, October 6, 12:25 - 1:20 PM

Senior Vice President & Relationship Manager
U.S. Bank

Nicole Riggs is a Senior Vice President and Relationship Manager in U.S. Bank’s Government and Higher Education Division covering government and university clients and prospects in New York and Massachusetts. With nearly 20 years of public finance experience in both government and banking roles, Nicole is adept at identifying financial solutions offered by the bank, with expertise in funded and off-balance sheet lending. Nicole joined U.S. Bank in December 2022, upon the completion of its acquisition of MUFG Union Bank’s public finance business. Prior to joining MUFG Union Bank in 2014, Nicole spent 7 years with the Port Authority of New York and New Jersey. As the Manager of Aviation Capital Financial Services, she oversaw the financial aspects of the Aviation Department’s multi-billion-dollar capital plan and Passenger Facility Charge (PFC) program. Nicole also managed the annual strategic business planning process, analyzed and consolidated unit and facility operating budgets, and supported procurement and Board approval processes. Nicole is a regular speaker at municipal industry and educational conferences, and a member of the Municipal Analysts Group of New York and the Northeast Women in Public Finance. Nicole earned Master’s Degrees in Public Affairs and Urban and Regional Planning from the School of Public and International Affairs at Princeton University, and a B.A. in Communications, with minors in Political Science and Spanish, from the University of California Los Angeles (UCLA). She holds Series 52, 63, and 79 securities licenses and resides with her family in New York City.

Jay Saunders

Interest Rate Swaps: Strategy, Risk & Execution
Tuesday, October 6, 3:45 - 4:20 PM

Managing Director
KPM Financial, LLC

Jay finds job satisfaction in helping clients really understand financial products and sharing in their successes. He has worked in the fixed income derivatives market since 1994 in a diverse number of roles including advisor, managing director, and national head of municipal derivative origination at one of the nation’s largest banks. Knowing the industry from many vantage points helps him educate his clients about how to minimize risk and avoid inflated prices.

Jay holds an active Series 50 Municipal Advisory license, inactive Series 7, 52, and 63 FINRA licenses, and a Business Administration degree from the University of North Carolina at Charlotte. He is a life-long Charlottean who enjoys getting into the mountains, working on home renovation and landscaping projects, and actively supporting charities focused on the treatment and cure of childhood cancer.

Mike Steinbrook

Arbitrage & Rebate: The Rules That Drive Compliance
Tuesday, October 6, 3:10 - 3:45 PM

Director of Arbitrage & Tax Compliance Group
PFM Asset Management

Mike Steinbrook joined PFM Asset Management in 2004 as an arbitrage rebate analyst in the Harrisburg office and was promoted to director in 2014. Mike is the director of the firm's Arbitrage and Tax Compliance Group, managing client relationships nationally including arbitrage rebate compliance services provided to participants in the local government investment pools (LGIPs) for which the firm serves as investment advisor. Mike is responsible for business development and client management efforts, staff development, internal and external training, quality control and developing the methodologies, approaches and strategies utilized by the group.

Mike has prepared and reviewed thousands of analyses including arbitrage rebate and yield restriction calculations, spending exception analyses, cash flow analyses, transferred proceeds calculations, commingled funds analyses, variable-rate yield computations, liability optimization strategies, and other arbitrage related services. He also assists issuers in the development and implementation of post-issuance compliance policies and procedures and investment strategies for tax-exempt bond proceeds. Additionally, Mike is the leader of the firm’s verification practice, providing verification agent services for refunding and defeasance escrow transactions. Mike provides on-site group and individual client staff training regarding arbitrage rebate and post-issuance compliance and is a frequent speaker at conferences.