Member Spotlight

June 2022

Managing Director

Kaufman, Hall & Associates, LLC

Terri Wareham, Managing Director and a founding partner of Kaufman Hall, has provided management consulting services to hospitals and health systems of all types and sizes nationwide for more than three decades.

Benefitting from Ms. Wareham’s guidance, Kaufman Hall has been one of the leading financial advisors to not-for-profit healthcare organizations, as determined by Thomson Reuters based on direct representation of healthcare debt issuances. Her areas of expertise and focus include: the development and execution of strategic capital plans; the development of integrated strategic and financial plans; business planning; financial advisory services; and facilitation of mergers, acquisitions, divestitures, joint ventures, and affiliations.

Her clients range from community hospitals and AMCs to multihospital systems, specialty providers, physician groups, non-acute businesses, and research institutes.

Ms. Wareham is a frequent lecturer and author on healthcare capital-related topics for organizations including the American College of Healthcare Executives, Healthcare Financial Management Association, American Hospital Association, Health Management Academy, Florida Institute of CPAs, National Federation of Municipal Analysts, and The Governance Institute.

Ms. Wareham has an M.B.A. with concentrations in Hospital Administration and Finance from The University of Chicago Booth School of Business. She received a B.S. from the University of Notre Dame. She is a member of the Chicago Booth Council of The University of Chicago Booth School of Business, currently serves on the Board of Directors of Solis Mammography and is the President of her local school district foundation.

What advice would you give yourself as new college graduate starting your career?

Try everything. Understand you will make mistakes and fail-it’s about learning to get up and keep going. Don’t be afraid to make changes and have courage-the first choice isn’t always the best choice. Don’t measure yourself against others-everyone’s paths, desires and capabilities are different, and there will always be people of greater and lesser talents. Be patient and stay calm. Absorb as much as you can from those around you-you need to be open to gaining as much experience and wisdom as possible.

If you had one day left to live, how would you spend it?

On a quiet beach in the Turks & Caicos with my family, and a Tanqueray and tonic in hand. Or maybe several… That’s my Happy Place.

How do you think people would communicate in a perfect world?

The ability to communicate is so important to every aspect of our lives. In a perfect world, people would approach each other openly, accepting and respecting each other’s differences. Some people are not as articulate as others, which makes our ability to listen and hear, as important as our own ability to express our views. In a perfect world, we would listen, hear, embrace and be humble.

How did you learn to embrace risk-taking?

In 1985, I was a founding partner of Kaufman Hall. I was 25 years old. I walked out of the door of the firm for which I was working, and into a shared office space with my partners, Ken Kaufman and Mark Hall, to start a new company. I had to embrace certain realities of my personal life, like paying the rent and bills, while putting amazing energy into creating a business with a unique value proposition for the non-profit healthcare sector. Stepping out like that was a huge risk. I learned to manage risk by first identifying it, then evaluating it in order to understand it, then balancing it against the other risks in my “basket of uncertainties” in my life. If acceptable, I would embrace it and move forward. We worked hard and focused. We made decisions, some right and some, not so much. We have had great success but also experienced mistakes and failures. Fortunately the successes have outweighed the failures!

What’s the most important leadership lesson you’ve learned and how has it proven invaluable?

Be humble and learn from others. Acknowledging and respecting the strengths, talents and ideas of others on your team is incredibly important to receiving the highest level of respect from them in return. Humility is knowing that someone else may be smarter or have a better plan. I am intelligent and experienced, but I make a point to listen to all thoughts from all places. People are more willing to offer ideas and input if they believe I don’t think I’m the smartest person in the room. Everyone brings a different perspective and expertise. As a leader, it’s then my job to select the path and lead through it. I learn from people every single day, from junior and senior levels at KHA to pretty much people I meet anywhere. I learned that you can only be a leader if people will follow you.

April 2022

Comptroller

City of Milwaukee - Office of the Comptroller

Aycha Sawa was elected to the office of Comptroller for the City of Milwaukee on April 7, 2020. Prior to becoming Comptroller, she served the City as Deputy Comptroller for three years. She started in the Comptroller’s office as an auditor hired in July 2010, moving up to Audit Manager and then Accounting Director. She was sworn in as Deputy Comptroller in 2017. Before that, she worked for Baker Tilly auditing various local governments, and as an auditor for the State of Wisconsin Department of Transportation. She has, at the time of her election, 14 years of local government auditing, accounting, and management experience. Comptroller Sawa is a Certified Public Accountant and Certified Internal Auditor. As such, she is professionally committed to, and thus leads the Comptroller's office, with a code of ethics that transcends political will; standards that require integrity, independence, and accuracy. The Comptroller's office is dedicated to putting the City of Milwaukee's residents first. Aycha holds an Accounting Bachelors of Business Administration degree from the University of Wisconsin Madison (2006). After 150 college credits and 4 exams later, she received her CPA in 2010. Additionally, after 3 more exams, she received her auditing certification (CIA) in 2015.

Q: What is your greatest professional success and why?

A: I would say there are 2 – one is passing all 4 parts of the CPA exams on the first try. The other is winning the election as the first independently elected female Comptroller in the City of Milwaukee. I think it was a professional success as well as breaking through a glass ceiling as the first woman in a City-wide elected position in Milwaukee.

Q: What advice would you give to yourself as a new college graduate starting your career?

A:

1. Don’t be afraid to speak up – as a young person and a woman – we need our voices heard more and know that we have valuable opinions.
2. Don’t be afraid to ask for more/ defend yourself when something isn’t right or you are being shortchanged for some reason.
3. Don’t be afraid to take chances/risks… life is short - this could be with changing jobs/positions within a company etc… slight career change – don’t let your career just happen to you. If you want to try something else, just go for it.

Q: What superpower would you choose for yourself? How would you use this superpower in your current job?

A: Being able to read between the lines/read what others are thinking/feeling. Emotional intelligence is a key to success. If I knew where others were coming from, getting certain tasks/projects done in an organization would be so much easier and getting along with others would make life/work more productive and happy.

Q: Think back to five years ago. Did you envision your career as it is today?

A: Five years ago, I did not think that I would find myself in a place of City leadership. My position as the Comptroller is to be the independent fiscal watchdog of the City of Milwaukee. This means that I am always charged with thinking and advising about the City’s financial health for its current state and for its future finances. It was not what I might have necessarily thought about as the next step in my career, but I enjoy using my knowledge and experience to help move the City forward.

Q: What is the most important leadership lesson you’ve learned and how has it proven invaluable?

A: I think the most invaluable leadership lesson is the concept that you are not smarter/better than your team or your department. The moment you feel/think that way, you cannot achieve a good work environment and a place where people will feel that they can come to you with ideas or initiatives to make processes better or do things differently.

March 2022

Partner / National Chair, Public Finance Practice Group

Quarles & Brady LLP

Since 2013, Rebecca Speckhard has been the national chair of Quarles & Brady’s Public Finance Practice—a group that annually provides opinions on approximately $3 billion of bond obligations, including close to $1 billion in health care and nonprofit financings. A graduate of the University of Wisconsin and the University of Wisconsin Law School (Phi Beta Kappa and Order of the Coif), Rebecca has served as bond counsel on hundreds of municipal and governmental financings in the State of Wisconsin. Her areas of experience include general obligation financings, public utility revenue bond financings, community development authority and redevelopment authority financings, and related tax incremental financing and development matters. She has also served as bond counsel on Clean Water Fund, Safe Drinking Water and Land Recycling Loan financings. Rebecca has been widely recognized by her peers and independent ranking organizations, including by Best Lawyers® as the Milwaukee Public Finance Law “Lawyer of the Year” (2022) and the Milwaukee Project Finance “Lawyer of the Year” (2020). Rebecca is also a Fellow in the American College of Bond Counsel.

Q: What advice would you give to yourself as a new college graduate starting your career?

A: As a new college graduate just starting my career, I would encourage myself to work hard and immerse myself in my work. Being busy is the best way to learn and advance, and doing good work will bring more work your way. Don't be afraid to stretch and take risks. Trust that you have the skills and ability to succeed.

Q: Describe the purpose of your job to someone from another planet.

A: At its highest level, the purpose of my job is to participate in a small way in the enormous and critical societal enterprise of providing essential services to our communities at a local, state and federal level, including health care, education, public safety, transportation, clean water, environmental, and much, much more. As I have traveled through the state over the course of my 30 year career, it always gives me a special feeling of pride and satisfaction to see the communities where we have participated in putting in place financing for a project, be it a wastewater treatment plant upgrade, a hospital expansion, a new elementary or high school, a road improvement project, or sports facility. Part of that feeling of pride extends to the teams of dedicated and unsung professionals from both the public and private sectors who work with us on those projects.

Q: Which leadership skills were the most difficult to develop?

A: For me, the leadership skill that was the most difficult to develop was listening and truly hearing team members' concerns and making sure everyone feels valued for their contributions while at the same time pressing forward with the group mission. That balancing act requires the devotion of time, thoughtful consideration and energy, but has been very rewarding in terms of developing a cohesive team focused on achieving group goals.

Q: As a kid, what did you want to be when you grew up?

A: I grew up in rural Wisconsin, and as a kid, my favorite day of the week was the day my mom would take us to the local public library. I loved reading, and thought the job of librarian would be the best job you could possibly have, being around books all day and helping people check out books. I particularly loved how they stamped books to check them out.

Q: What is your favorite indulgence and why?

A: After a long day, I still love to curl up with a good book, some chocolate and a glass of red wine. It's a great way to unwind, and learn something new about the world in an entertaining way.

February 2022

Chief Financial Offer

Wisconsin Housing and Economic Development Authority

Sherry was named Chief Financial Officer at the Wisconsin Housing and Economic Development Authority (WHEDA) in February 2017. She has been with WHEDA since 1989 and served most recently as the Treasury Manager. She has spent most of her career focused on raising capital to provide affordable mortgages for first-time home purchasers, multifamily developers providing housing to low and moderate income families and small businesses. Her areas of expertise include the issuance of tax-exempt and taxable bonds, interest rate swaps, oversight of WHEDA’s credit rating, budget and financial statements and new product development. She holds a Bachelors of Business Administration in Finance and Masters of Science in Accounting from the University of Wisconsin Whitewater.

Q: What’s the very first job you had (that’s not on your resume) and what did you learn from the experience?

A: I grew up on a family dairy farm in Wisconsin. I didn’t know it at the time, but it taught me the value of team work. The work required good communication and everyone working together. It also taught me the value of doing something that you are passionate about with people who share your passion and goals.

Q: What’s the most important leadership lesson you’ve learned and how has it proven invaluable?

A: The most important leadership lesson I have learned is to pause when making decisions. It can be easy to make a quick decision and move ahead, but the best decisions are made when leaders take time to listen, ask questions and consider all points of view before moving forward. Even when you think you know the “right” path, taking some extra time to reflect is invaluable.

Q: What advice would you give to yourself as a new college graduate starting your career?

A: I would tell myself to embrace change and be ok with being uncomfortable. There have been many times in my career that have been filled with change. They have been challenging, uncomfortable and seemed risky at the time. In the long run, these times have caused me to grow, develop new skills and have been the most rewarding in my career.

Q: Think back to five years ago. Did you envision your career as it is today?

A: Yes and no. Looking back longer than five years, I did not expect to have a 30+ year career at one organization. My career goals have always been about enjoying the work and having opportunity, not working towards a specific title. Over the years, I have had great opportunities to learn and be challenged while working with great people at WHEDA. Enjoying the work and my co-workers has made the 30+ years go very fast.

Q: As a kid, what did you want to be when you grew up?

A: As a kid, I wanted to be a math teacher. I enjoyed math and wanted to help others like math. During my general studies in college, I was learning about different career opportunities and made a change to the business school and a finance degree. Finance has allowed me to work with numbers, just in a different way. One of the things I find very rewarding about my current role is to mentor and train others – so maybe I have come full circle on the teaching role.

January 2022

This month the inaugural “Spotlight” is on Debby Brunett, Director of Public Finance, School Business Specialist at Robert W. Baird & Co. Incorporated, a founding sponsor of our Wisconsin Chapter.

Director of Public Finance, School Business Specialist

Robert W. Baird & Co.

Debby leads Baird’s School Business Solutions team in Wisconsin as a School Business Specialist. She joined Baird in July 2009, bringing several years of experience as a business manager and independent consultant for school districts across the state. Debby has helped school districts throughout Wisconsin with budget forecasting and various business office needs. She specializes in anticipating and communicating budget impacts, business office training on best practice and day-to-day tasks, and supporting Business Officials and Superintendents as they navigate complex school finance environments. She also continues to serve as Business Manager for the Fall Creek School District. Debby earned her Master of Science in Education and School Business Management and her Bachelor of Science in Elementary Education from the University of Wisconsin-Whitewater.

Q: What advice would you give to yourself as a new college graduate starting your career?

A: This is interesting because I have reflected on this concept from time to time. I feel, and would tell myself, that you must set and work toward goals, but you can’t be so focused that you miss opportunities that may come along. Without this philosophy, I would have missed my opportunity at BAIRD.

Q: Was there ever a role you applied for and landed, but weren't 100% qualified to do? How did you proceed?

A: Yes! I don’t know if I’ve ever felt 100% qualified as I’ve moved into any new role. In one specific example, they connected me with a mentor on day one. Personally, I drew on my strengths and learned what was needed to fill in the gaps. I put in a lot of time and was determined to do well. This experience shaped my passion around mentoring and training others, something key to my current role.

Q: How did you learn to embrace risk-taking?

A: I started asking myself if, a year from now, I would be disappointed if I didn’t try it. I also adopted the theory that I’ll try almost everything once (the second time I’ll know better 😊). Additionally, I believe that only when you’re uncomfortable, are you growing. Such wonderful opportunities arise when you take a chance and, while putting yourself out there may be tough, often it’s the most rewarding.

Q: What is the most interesting thing about you that we cannot learn from your resume?

A: As a hobby, I spent about ten years learning and teaching ballroom dance. It was one of the best things I’ve done, both personally and professionally. Many of the professional interpersonal skills I relay on today were honed during my time there.

Q: How do you think people would communicate in a perfect world?

A: In my ideal world people would communicate clearly and kindly. I would also suggest we not treat others as we would like to be treated, but, instead, treat others how they would like to be treated. Meeting others in their space and building from there is often a much better place to start.