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Stewart Simon, Ph.D.Beacon Lights Research & Advisory, LLC
Experience & Professional Qualifications
November 4, 2016
Cumulative Experience & Competencies
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Consultant
Investment Mngt Beacon Lights
Bond Insurance UBS UBS
Municipal Ratings FGIC FGIC FGIC
Local Government FITCH FITCH FITCH FITCH
State Government NYC HPD NYC HPD NYC HPD NYC HPD NYC HPD
Academia NYS DOB NYS DOB NYS DOB NYS DOB NYS DOB NYS DOB
Ph.D. Ph.D. Ph.D. Ph.D. Ph.D. Ph.D. Ph.D.
1979 - 1986 1979 - 1986 1988 - 1989 1989 - 1994 1994 - 2009 2010 -2011 2012 - Present
Ph.D. Public Administration &
FinanceSenior Budget
AnalystAssistant
Commisioner Chief Financial Officer
Vice President Managing Director Director Principal Consultant
► Research Critical Thinking ► Problem Solving ►
► Public Policy Analysis ►Budget Planning Credit ►Workouts
► Organization Mngt Budget ►Execution ►Negoiation
► Capital Markets Credit Analysis ► Due ►Dilligence
► Investment Mngt Risk Management ► ►Underwriting
► Relative Valuations Portfolio Construction ►
Series 7 & 63 ►
► Research & Advisory Exploit Technology ► ►Guarantor Accounting
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Beacon Lights Advisory, LLCStewart Simon, Principal
Beacon Lights Research & Advisory, LLC is a public sector finance consulting practice providing municipal advisory services to state & local governments, municipal bond investment managers, and public policy researchers
Direct and Other Government- Related Work Experience
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New York City Department of Housing & Development (FT)New York State Division of the Budget (FT)New York State Department of Agriculture & Markets (FT)New York State Assembly Ways & Means Committee (Internship)Ulster County, New York, District Attorney Consumer Fraud (Internship)Federal – State – Local Task Force: Ft. Drum, NY Military RealignmentFederal – State Task Force: Voluntary Metric System ConversionRye Brook, NY, Westchester Co. Airport Advisory Board (Representative)US Dept. of Labor, CETA Project (NYS Dept. of Agriculture & Markets)Albany, New York Transportation Commission (Community Representative)Nassau County, New York, Dept. of Parks & Recreation (Summer Positions)
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Public Finance Consulting Assignments2012 - 2016
Company Subject
Bain & Company Bond pricing and Evaluation
Bank of America Merrill Lynch Municipal Default & Ch. 9 Bankruptcy
Coleman Research Detroit and Puerto Rico
Goldman Sachs Municipal Default & Ch. 9 Bankruptcy
Legg Mason Bond Insurance & Ch. 9 Bankruptcy
GLG Research Public Finance
Lumesis Socio-Economic-Finance indicators
McKinsey & Co. Bond Pricing & Credit Stress Tests
Perella Weinberg Partners Puerto Rico Financial Stress
Savader Asset Advisors Portfolio Surveillance
Taconic Capital Puerto Rico Economic Situation
Western Asset Portfolio Surveillance
Och-Ziff Bond Mechanics & Default
Municipal Credit Analysis: Demonstrated analytical proficiency in a broad-range of bond sectors, including tax-backed, higher education facilities, housing agencies, transportation projects, utility systems, and 501(c)(3) entities
Special Projects: City of New Haven, CT property tax collections and securitization; Orange County HEFA permitted investments (GICS) and debt defeasance; and City of Philadelphia, Pa insurance policy contract dispute
Risk Management: Developed earthquake risk policy based on the Mercalli Scale
Special Projects: City of New Haven, CT property tax collections and securitization; Orange County HEFA permitted investments (GICS) and debt defeasance; and City of Philadelphia, Pa insurance policy contract dispute
Workouts, Remediation And Advisory, Cont.
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Intergovernmental Relations: Served on special committees, including the National Bureau of Standards to implement metric system conversion in New York State, and the federal-state-local task force that developed the plan to implement the huge expansion of the U.S. Army’s Ft. Drum, New York Management and Program Reviews: Conducted management reviews that enhanced the capability of the NYS Department of Environmental Protection to improve statewide wastewater treatment plant performance and strengthened the Department of Banking oversight of state-chartered banks
Data Base Construction: Developed database systems that strengthened New York State’s ability to monitor finances of 1,600 local entities
Workouts, Remediation And Advisory, Cont.
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Workouts, Remediation & Advisory
Workouts: Led New York State efforts to develop specific solutions and remedial courses of action for fiscally distressed local governments to reduce the need for state financial assistance, including New York City, Yonkers and Utica
Transaction Structuring: Negotiated terms, conditions, and protective covenants for the issuance of bonds and insurance policies Financial Analysis: Strong ability to analyze GAAP and GASB financial statements, analyze cash flows, pro forma statements and projections
Municipal Credit Analysis: Demonstrated analytical proficiency in a broad-range of bond sectors, including tax-backed, higher education facilities, housing agencies, transportation projects, utility systems, and 501(c)(3) entities
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The Working Group For The Fiscal and Economic Recovery of Puerto Rico
June 27, 2016
Puerto Rico Restructuring Counterproposal
Bonistas Del Patio
Stewart Simon, Ph.D.Beacon Lights Research & Advisory, LLC
Stewart Simon: Team Leader
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Municipal Marketplace Update
Has A Tumultuous 2013 Created Opportunity In The Muni Market?
Stewart Simon, Ph.D.February 26, 2014
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Detroit Bankruptcy Filing: Implications for Bond Insurers
and Municipal Market
Stewart Simon, Ph.D.August 21, 2013
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UBS Municipal Research
Stewart Simon
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PUBLIC POLICY RESEARCH
INFRASTRUCTURE FINANCING
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City of New York1988
NEW YORK CITY DEPARTMENT OF
HOUSING PRESERVATION &
DEVELOPMENT
ASSISTANT COMMISSIONER FISCAL
PLANNING AND CONTROLS. SIMON
BUREAU OF FISCAL AFFAIRS COMPTROLLER
A. CLARK
PAYMENT OPERATIONCONTRACT COMPLIANCE
AND VOUCHERING ENGINEERING AUDIT AUDIT BANKING AND REVENUE FISCAL ANALYSISK. SAMPSON H. ANTHON J. ROSSBACH S. ORLANDO D. BURTON D. BURTON
PROCESS INVOICES LESS THAN $10,000 MONITOR CONTRACTS
APPROVE CONSTRUCTION CONDUCT AUDITS BANKING FUNCTIONS CONDUCT FISCAL ANALYSIS
● FUEL & UTILITIES ● PROGRAM PAYMENTS ● LOANS ● INTERNAL AUDITS ● ACCOUNTING & BILLING ● MITCHELL-LAMA TAX● DRAWSLIPS ● LOANS ● DEMOLITION ● COMMUNITY MNGT. ● BANK RECONCILIATIONS ● DEVELOPMENT FINANCE● OTPS ● CAPITAL CONTRACTS ● SYSTEM CONTRACTS ● TAX SYNDICATION ● MORTGAGE COLLECTION ● SPECIAL PROJECTS
● SECTION 8 SUBSIDIES ● COMMUNITY ● RECEIVERSHIP● HANDYMAN & ● 7-A ● LAND SALES
Stewart Simon CFO
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