| Monday, June 3 |
| 10 a.m.-5 p.m. |
Registration and Information Desk (El Cabildo) |
| Iberian Ballroom |
| 1 p.m. |
Welcome |
| 1:10-2 p.m. |
Ethical Decision Making in Investments
Ethical dilemnas are a normal and predictable part of most jobs and can be dangerous to your career. If you aren't prepared, they can test your personal values, moral beliefs and committment to doing the right thing.
This interactive presentation examines several real life ethical dilemmas that professionals working in the investing industry may face in the course of their careers. These cases challenge participants to consider the various courses of action to address the issues involved.
Dr. Michael McMillan, Director, Ethics Education, CFA Institute |
| 2-2:10 p.m. |
Break (Iberian Foyer) |
| 2:10-3 p.m. |
Texas Economic Outlook
At the end of 2018 economic conditions in Texas began to slow as oil prices declined and there was increased uncertainty about the global economy and trade restrictions. While the forecast has improved since January, it still suggests weaker job growth this year than in 2018. The three primary factors facing the Texas economy in 2019 remain historically tight labor markets, lower oil prices and continued uncertainty about trade restrictions. Overall Texas will likely have a good year in 2019 – just not quite as strong as last year.
Mr. Keith Phillips, Assistant Vice President and Senior Economist, Federal Reserve Bank of Dallas, San Antonio Branch |
| 3-3:50 p.m. |
Diversification of Portfolio & Risks
The Public Funds Investment Act requires training in portfolio diversification and types of investment risks. This session covers the basics of the theory and practice of diversification and how diversification can help address market, strategy, and security risks in the context of PFIA authorized investments.
Dr. Holland Toles, Ph.D., CFA, Department of Finance and Economics, McCoy College of Business Administration, Texas State University |
| 3:50-4:10 p.m. |
Break (Iberian Foyer) |
| 4:10-5 p.m. |
Navigating Through a Bank Failure
A panel discussion on everything you should know about avoiding a bank failure or successfully navigating through one. The panel will prepare you with an easy checklist so you know what to do in advance, during and after a bank failure announcement.
Mr. Kevin Franks, Director of Pricing and Profitability, Cadence Bank, N.A.
Ms. Katrina King, Executive Vice President of Treasury Management, Cadence Bank, N.A.
Ms. Kacy Owsley, EVP Director of Client Consulting, Cadence Bank, N.A.
Ms. Cathy K. Davis, Resolutions and Closings Manager, Federal Deposit Insurance Corporation (FDIC), Division of Resolutions and Receiverships |
| 5-6:30 p.m. |
Welcome Reception (El Capistrano)
Here's a great opportunity to network with fellow attendees over beverages and hors d'oevres. |
| Tuesday, June 4 |
| 7:30-8 a.m. |
Coffee and Continental Breakfast (Iberian Foyer) |
| 7:30 a.m.-5 p.m. |
Registration and Information Desk (El Cabildo) |
| Iberian Ballroom |
| 8-8:50 a.m. |
How I Learned to Stop Worrying and Love Losses
No topic seems to tongue-tie a public fund portfolio manager faster than having to explain, defend or rationalize why a portfolio reported a loss on their financial statements. This session coaches attendees in how to respond whenever concerns have been raised around the risk of a mark-to-market loss.
Mr. Benjamin Finkelstein, Managing Director/Public Funds, Cantor Fitzgerald |
| 8:50-9:40 a.m. |
MBS Reforms: Changes and Consequences
The session will cover the reforms of GSE's that have already occured, as well as the direction of future reforms. We will discuss consequences of the reforms, including the effect of the diminishing availability of GSE securities for collateral purposes.
Mr. Christopher Mier, Managing Director, Loop Capital |
| 9:40-10 a.m. |
Break (Iberian Foyer) |
| 10-10:50 a.m. |
Investment Accounting
During this session we will review the basics of accounting for investments permitted under the Public Funds Investment Act. We will touch on the process of actively investing County funds and how to properly document and record investments made.
Emily Upshaw, Associate, Valley View Consulting, LLC |
| 10:50-11:40 a.m. |
Investing In Municipal Bonds
Cover the basics of investing in Municipal bonds, brief history, the market, things to consider and look out for.
Mr. Michael Medanich, Vice President, HilltopSecurities Inc. |
| 11:40 a.m.-1 p.m. |
Recognition Luncheon (Madero)
All conference attendees are invited to this special luncheon honoring those who have pursued excellence in investment education for 5, 10, 15, 20 and 25- years. Those who just completed the Basics of County Investments Course and are new members of TAC’s County Investment Academy, as of February 2019, will also be recognized. |
| 1-1:50 p.m. |
Effective Managing Across Generations in Investing
Are your soon-to-be-retiring senior managers transferring knowledge to junior employees? Are your multigenerational teams functioning at a highly-effective level? Is it challenging to recruit, motivate, and retain your early career employees? Is communication flowing effectively throughout all parts of your organization? This session will provide several insights and practical tips on how you can optimize knowledge transfer before it is too late. According to the Pew Research Center, 10,000 Baby Boomers are turning 65 years old each day in the U.S. Act now before all of their "know who" and "know how" walks out the door.
Dr. Rob Konopaske, Director, Institute for Global Business, Department of Management, McCoy College of Business, Texas State University |
| 1:50-2:40 p.m. |
Common Mistakes Managing Investment Portfolios
This session will explore several mistakes and misconceptions commonly made in key areas of portfolio management, including: investment policies and procedures; banking, cash management and safekeeping; selection of brokers and advisors; investment strategies; trading; and reporting.
Mr. Greg Warner, Director, Senior Portfolio Manager, HilltopSecurities Asset Management |
| 2:40-3 p.m. |
Break (Iberian Foyer) |
| 3-3:50 p.m. |
Roundtable Discussions by Portfolio Size
Here’s a great opportunity to discuss with your peers timely topics in county investments. Take advantage of this guided discussion to learn what other counties of similar portfolio size are doing and share your ideas.
- Small Portfolio: Fewer than $5 million (Iberian A)
- Medium Portfolio: $5 to $25 million (Iberian B)
- Large Portfolio: $26 million or greater (Iberian C)
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| Wednesday, June 5 |
| 7:30-8 a.m. |
Coffee and Continental Breakfast (Iberian Foyer) |
| 7:30-11:40 a.m. |
Registration and Information Desk (El Cabildo) |
| Iberian Ballroom |
| 8-9:40 a.m. |
Anatomy of Cyber Attacks
As more companies and government agencies are becoming cyber dependent, the outbreak of malware attacks and their sophistication are growing exponentially. This presentation will showcase live demonstrations of multiple malware threat vectors and provide sobering examples of the ease at which attackers can compromise your data.
Mr. Thomas Ervin, Computer Scientist, FBI |
| 9:40-10 a.m. |
Break (Iberian Foyer) |
| 10-10:50 a.m. |
Brokered CDs: A Deeper Dive
In this session, we will explore the concept of brokered CDs in greater detail. We will look at the different types of CDs available through a broker, review the different processes related to each type and discuss how they may or may not meet your specific needs for safety, liquidity, diversification and yield.
Mr. Sam Vaughan, Vice President, Financial Northeastern Companies |
| 10:50-11:40 a.m. |
Vetting Financial Professionals
Do you know what you need to know about a financial professional? The Texas State Securities Board will discuss how to request a free background report, how to decipher it, and what information is not on the report.
Mr. Robert Elder, Communications & Investor Education Coordinator, Texas State Securities Board |
| 11:40 a.m. |
Closing Remarks and Adjourn |