CHICAGO — Change is afoot as Chicago-based Women in Public Finance heads into its third decade with plans to broaden its reach and refresh its mission.
The organization was launched 19 years ago by four Chicago-based public finance professionals — Sarah Eubanks, Nancy Remar, Lois Scott, and Courtney Shea. It hosted 75 public finance professionals at its first conference.
Its evolution was highlighted last week.
The group, which has expanded from its Chicago base to include 12 chapters that serve more than 1,500 women across the country, hosted more than 500 at its 2015 conference last week. It was at the conference that the group's leadership laid out a new strategic plan to be implemented over the next 18 months.
The aim of the new plan is to keep the organization fresh and attuned to members' needs while cementing its position as a national group, said co-founder Shea, a managing director at Columbia Capital Management.
Highlights of the new plan include the decision to rotate the location of the annual conference, which has always traditionally been held in Chicago, requiring more board members to come from individual chapters, and making the Chicago community a chapter.
An executive director will be hired in the coming years and the organization will shift to a membership-based structure that requires a small annual fee. The organization intends to produce newsletters and improved networking directories and professional opportunities.
"This strategic plan includes an updated mission statement that reflects the increased visibility and status of women in the industry as well as the diverse needs and goals for members in joining an organization like WPF," the group said in a statement. "The plan's key components are to make WPF a truly national organization and to involve as many women in the industry as possible, meeting member needs that are relevant not only today but into the future."
A mix of past and current leaders and the co-founders launched the effort to retool the organization's mission and governance earlier this year by forming a strategic planning advisory committee. It was led by Katherine Koster, a managing director at Piper Jaffray. The committee sought to settle on changes that would enhance the original mission of the organization as a networking aid and educational activities and forums.
Shea said the changes reflect the positive advancements women have made in the field. When she and the other co-founders first launched Women in Public Finance there were far fewer women at the managing director level at firms or at the chief financial officer or finance chief level in government. At the same time, the group wants to ensure it's a go-to venue for young professionals.
"We want to make sure that WPF is still relevant in meeting the needs of all women in the business," Shea said.
Shea said the goal of moving the annual conference to other chapter cities is to allow more members to attend, especially on the issuer side where many must foot their own bill to come to the conference. Regional conferences also will continue.
The organization and its various chapters currently host conferences, brown bag luncheon discussions on public finance and other topics, and offer other educational opportunities, scholarships and other charitable support.
Aside from dramatic growth in attendance, the annual conference has grown more sophisticated from its modest roots, offering prominent national keynote speakers that have ranged from historian and author Doris Kearns Goodwin to Republican political consultant Mary Matalin to journalists Carl Bernstein and Jane Pauley, who gave this year's keynote.
WPF expanded its bylaws in 2010 to recognize regional chapters. It also launched nearly a decade ago its founders' awards to recognize women with a range of experience for their contributions to the field. The categories include lifetime achievement, rising star, and a "she's our hero" awarded for balancing work, career, and civic contributions. The awards are typically given out during a reception early in the year.
