State Treasurer Colleen Davis Named to Market Transparency Advisory Group

The Municipal Securities Rulemaking Board (MSRB) announced the members of its new Market Transparency Advisory Group (MTAG). Treasurer Davis is one of 13 members of the group which will help identify objectives for the modernization of the MSRB’s systems and provide input on potential data and technology tools for the market.

“I’m honored by my appointment from the MSRB,” said Treasurer Davis. “Our group will work to advise the Board on initiatives to enhance the free Electronic Municipal Market Access (EMMA®) website and related systems in support of market transparency.”

“Especially in these times of unprecedented market volatility and uncertainty as a result of the coronavirus pandemic, we appreciate the outpouring of support for this new advisory group from everyone who volunteered their time, creativity and forward-thinking in support of municipal market transparency,” MSRB Board Chair Ed Sisk said. “The perspectives of our new MTAG members will help us leverage our migration to the cloud by identifying and prioritizing initiatives that enable big data analytics and other tools, which in turn will allow the EMMA website and our other market transparency systems to deliver ever-increasing value to market stakeholders.”

The group consists of 13 market professionals representing a broad and diverse cross-section of the industry who will help identify objectives for the modernization of the MSRB’s systems and provide input on potential data and technology tools for the market.

Joining Treasurer Davis in the group are:

  • Cynthia Evangelisti, Treasurer, Chicago Park District
  • Christopher Ferreri, Partner, Chief Operating Officer, Hartfield, Titus & Donnelly, LLC
  • Suzanne Finnegan, Chief Credit Officer, Build America Mutual
  • Charles Giffin, Managing Director – Public Finance, J.P. Morgan
  • Chris Kendall, Vice President – Fixed Income Trading, Charles Schwab & Co., Inc.
  • Mike Olander, Fixed Income Business Manager, Bloomberg LP
  • Hillary D. Phelps, Partner, Chapman and Cutler LLP
  • Susan Borries Reed, Director, Baker Tilly Municipal Advisors, LLC
  • Jason Richter, Deputy Treasurer of Debt Management, State of Washington
  • Paula Stuart, Chief Executive Officer, Digital Assurance Certification (DAC)
  • Lisa Washburn, Managing Director and Chief Credit Officer, Municipal Market Analytics
  • Sean Wilkoff Ph.D, Visiting Assistant Professor, Penn State University

State Treasurer Celebrates Victory in Route 9 Banking Desert Initiative and Community’s 1st Financial Service Center

State of Delaware Treasurer Colleen Davis

WILMINGTON, DE (December 5, 2019) – Delaware’s Route 9 corridor is unique. It’s history, diversity, and sense of community are a beacon that shines as an example throughout the state.

The Route 9 corridor has been through many decades of disadvantage. There have been a number of plagues on progress over the years including environmental challenges, institutional racism, and housing inequality. But these troubles have developed a steadfast resolve among residents – one that not only helps neighbors battle these conditions, but has created a confidence and independence in the community to create ideas on how to solves these problems themselves, growing communal solutions from within.

But, some parts of Route 9 are not as advanced, like the area lacking access to banking – not invested in by financial institutions for several years, while check-cashing intuitions and predatory lending runs rampant.

That is not to say that there isn’t economic opportunity in the area – there is. You might say that there is more opportunity than ever, with the Port of Wilmington producing $436 million in business revenue and $409 million in personal income for the region through jobs. There has been very little institutional and economic empowerment here – that is, until now.

Route 9 community leaders like Ron Handy Sr. brought people together to solve their own problems, as they have found themselves doing for decades. This month, the community will realize the opening of not one, but three reputable financial institutions throughout the corridor. It has been my honor to talk with community leaders, to hear their story, and to learn of their self-efficacy. By empowering themselves and doing this entirely on their own, their achievement is that much more significant.

I hope you’ll join me in celebrating this incredible work at 11 am on Wednesday December 11th at Rosehill Community Center, 19 Lambson Lane, New Castle, DE 19720, as the Banking Desert Initiative opens its first financial service center with Del-One. Rosehill will host an interactive teller machine (ITM), as well as in-person with a teller three days a week. Gulftainer’s Training Facility at Elbert Palmer Elementary School and William Penn High School will also host credit union services soon – and with the passion of this community behind the effort, I know we will see many more openings in the future.

State Treasurer Attends Closing Bell at NASDAQ

Event featured World Trade Center Delaware and the Port of Wilmington

State Treasurer Colleen C. Davis visited the NASDAQ Stock Exchange on Monday with World Trade Center Delaware and the Port of Wilmington. The Treasurer and Delawareans attended the iconic Closing Bell ceremony at the Exchange, which celebrated Delaware’s significant contributions to the global economy.

“Delaware’s unique economic environment was on display to an international audience at the stock exchange on Monday,” said Treasurer Davis. “The collaboration between various industries, nonprofits, and governments makes our business atmosphere one-of-a-kind, and is one of the reasons that most companies are incorporated in our state.”

The Treasurer was interviewed by Nasdaq Inc. Director of Global Accounts, Rob Phillips, along with Carla Sydney Stone, President of World Trade Center Delaware, and Dave Harriss, Commercial VP of GT USA Wilmington, the operator of the Port of Wilmington.

Event participants traveled to New York City to meet with private equity investors and international companies with interest in trade, ports, and logistics, as well as attend the closing bell ceremony.

State Treasurer’s Office Brings Tableau Day to Delaware

Event encourages innovation in government

State Treasurer Colleen C. Davis, along with the University of Delaware and Tableau Software, a leading visual analytics platform, hosted an event for state government and university participants today. The event promoted data gathering and governance, while sharing interactive tools and visualization opportunities through engaging use case presentations from Delaware partners and hands-on trainings for beginner and intermediate users.

“Tableau Day is a great step in making data work for the residents of our state. Walking away from this event, participants can better gather and govern data, and they can take those rows of numbers and translate data into something easy for the public to understand, and use,” said Treasurer Davis.

The event was attended more than 75 participants across more than a dozen agencies of state government and the University of Delaware participants. Tableau Day featured presentations from the Department of Services for Children, Youth and their Families (DSCYF), the University of Delaware, and the Office of the State Treasurer. Tableau led trainings for participants, and Navigator Management Software shared advice and examples of visual analytics use within public entities while promoting data governance.

In April, the Office of the State Treasurer released their interactive Available Income Calculator, created by staff using Tableau. The tool is hosted on Tableau Public, allowing other jurisdictions to use the framework and insert their own consumer data and tax information to make the tool specific to their residents. Since its release, the tool has been used more than 8,000 times.

“The success of the Available Income Calculator is a testament to the State of Delaware’s strong commitment to extending data transparency to their residents,” said Steve Spano, Regional Vice President, Public Sector at Tableau. “We’re delighted to team up with the Treasurer’s office to help other organizations around the state see and understand their data, and use visual data stories to communicate more effectively with their residents.”

Visual analytics products aim to make data useful, internally helping with measurement and decision-making, and externally providing a medium through which the complex can be made simple and readily available for residents. The University of Delaware presented on their efforts to create internal dashboards, while the DSCYF discussed the dashboards they created and have shared with the public to track and visualize data and performance of various programs overtime.

“With respect to technology, government is often viewed as being behind the private sector,” said Susan Steward, Office of the State Treasurer and a Tableau user. “But today we’ve proven that government is moving to the forefront of innovation in order to empower residents to interact with the state.”