2023 LAIF Webinar Speakers
Fiona Ma, CPA
California State Treasurer
Fiona Ma is California’s 34th State Treasurer. She was first elected on November 6, 2018, with more votes (7,825,587) than any other candidate for treasurer in the state's history and reelected on November 8, 2022. She is the first woman of color and the first woman Certified Public Accountant (CPA) elected to the position. The State Treasurer’s Office was created in the California Constitution in 1849. It provides financing for schools, roads, housing, recycling and waste management, hospitals, public facilities, and other crucial infrastructure projects that better the lives of residents. California is poised to become the world’s fourth-largest economy and Treasurer Ma is the state’s primary banker. Presently, her office processes more than $3 trillion in banking transactions. She provides transparency and oversight for the government’s investment portfolio and accounts, as well as for the state’s surplus funds. Treasurer Ma oversees an investment portfolio that currently averages over $200 billion—a significant portion of which is beneficially owned by more than 2,200 local governments in California. She serves as agent of sale for all State bonds and is trustee of billions of dollars of state indebtedness.
Vanessa McMichael
CTP, Director
Wells Fargo & Company
Vanessa McMichael is the head of Corporate and Public Entity Strategy within the Fixed Income Strategy team at Wells Fargo Securities, LLC. She is based in Charlotte, North Carolina. Vanessa has more than 13 years of financial industry experience. She joined Wells Fargo through a predecessor firm, Wachovia Securities, and began her career in 2007 specializing in public finance as an investment banking analyst. In her current role, she partners with corporate and public entity cash investors. Vanessa publishes daily commentary on front-end fixed income markets titled The Daily Short Stuff. She also speaks at a wide variety of regional and national conferences such as GIOA, GFOA, and AFP, amongst others. Outside of day-to-day work responsibilities, Vanessa is an active part of the Women GoFar Network at Wells Fargo and participates in various mentorship programs. In her free time, Vanessa enjoys snowboarding and salsa dancing. Vanessa has a Bachelor’s of business administration from Howard University and a Master’s in business from the University of Chicago Booth School of Business. She holds Series 7, 24 and 63 securities licenses and is a Certified Treasury Professional as designated by the Association for Financial Professionals.
Jeff Wurm
Director of Investments
State Treasurer's Office
Jeff Wurm is the Director for the Investment Division. He has been working in the Treasurer’s Office for the past 22 years, with the past 17 years in the Investment Division. Over his tenure in the Investment Division, he has been an Authorized Trader, the Time Deposit Program Manager, and the Credit Manager for the PMIA. Jeff began working at the Treasurer’s Office in the Securities Management Division where he cleared and settled the trades for the PMIA. He also worked in the Cash Management Division managing Vault Services and assisted with the long-range cash forecast. Prior to starting his career at the State Treasurer's Office, Jeff spent two years at E*Trade Securities and two years at Franklin Templeton Investments. He earned his BS in Business Administration (Business Management) from California State University, Fresno.
Kim McCorstin
Assistant Director of Investments
State Treasurer's Office
Kim McCorstin has over 22 years of experience working for the State of California in various capacities. Prior to her current position, she spent over five years as an Investment Manager overseeing the Pooled Money Investment Account (PMIA) operations, managing the treasury and agency portions of the portfolio, acting as a liaison to the broker-dealer community, and actively trading securities an authorized trader for the PMIA. She spent another five years as the Local Agency Investment Fund (LAIF) Administrator. Prior to joining the Investment Division, Kim spent 10 years working in the Conduit Financing and Investor Relations Section of the Public Finance Division where she managed conduit bond sales for various State Agencies and Authorities. She also spent two years working in the Estimates Branch at the California Department of Social Services. Kim earned her Bachelor of Science in Business Administration (Management) from San Diego State University and her Master of Science from National University, San Diego.
Tracey Paine
Credit Manager/PMIB Administrator
State Treasurer's Office
Tracey Paine has 25 years of experience with the State Treasurer’s Office. As the PMIA Credit Manager for the last six years, Tracey monitors and evaluates the credit quality of the PMIA portfolio and all approved issuers. She also provides recommendations for new investment opportunities and is an authorized securities trader for the PMIA. In addition, Tracey is the Pooled Money Investment Board Administrator, responsible for providing oversight of the board. Prior to this, Tracey managed the programs in the Securities Clearance Section for 20 years. She provided expertise in securities management programs, oversaw the clearance and settlement of trade operations for the investment, pledge and collateral operations and developed and implemented improved business processes across the Section. Tracey earned her Bachelor of Science in Business Administration (Strategic Management) from California State University, Sacramento.
Lily Osorio
LAIF Administrator
State Treasurer's Office
Lily Osorio is the Local Agency Investment Fund (LAIF) Administrator of the Investment Division. She has been working in the Treasurer’s Office since 2014, the past six years in the Investment Division as the LAIF Operations Manager. Lily represents the Treasurer and the LAIF program at California Municipal Treasurers Association (CMTA) throughout the year and is an authorized securities trader for the Pooled Money Investment Account (PMIA). Prior to this, Lily spent three years working in the Conduit Financing and Investor Relations Section of the Public Finance Division of the State Treasurer's Office. Lily earned her Bachelor of Science in Business Administration (Finance) from California State University, Sacramento.