Laurence Wadler
Adjunct Professor of Public Administration
Laurence Wadler is the founder and manager of Precision Analytics Inc, a successful consulting practice specializing in the design and development of structured bond transactions and financing programs primarily for governmental and non-profit entities. He possesses expertise in all areas of structured finance including housing, health care, infrastructure and education and routinely provides strategic assessments of structured finance opportunities available to large governmental and non-profit issuers. He also serves as one of the nation's premier cash flow verification agents.
Adjunct Professor Wadler previously served as Vice President of Public Finance at Bear, Stearns & Company in charge of quantitative analysis and Director of Financial Analysis at Hawkins, Delafield & Wood. He earned a Bachelor of Arts with a major in Political Science from the University of Rochester and a Masters in Business Administration with a major in Financial Management from Iona College.
Professor Wadler has authored the following industry publications:
"Toward a New Financial Architecture", The Municipal Finance Journal, Volume 30, Number 2,
"An Introduction to Revenue Curve Analysis", The Municipal Finance Journal, Volume 21, Number 3 ,
"The Impact of Lending Velocity on Revolving Fund Performance", The Municipal Finance Journal, Volume 16, Number 1, and
"The Municipal Finance Opportunity Cost Index", The Municipal Finance Journal, Volume 14, Number 3
He is currently in the process of writing a three book series entitled "Finance as Architecture - A Picture on the Wall."
This course examines the process by which financing objectives are transformed into municipal bond transactions and other opportunities to utilize structured finance products in the health and corporate finance sectors. The course will center on a case study of an actual bond transaction that financed multiple new money (construction) and refunding projects. We will learn the mathematics underlying financial structure and the governing conventions and vocabulary of structured finance. We will study the instruments of structured finance and how they manifest into structural form. Once we have developed this core understanding, we will review in detail the Official Statement related to the case study to begin our exploration of the structuring process.
All cash flow elements of the structuring process will be discussed in detail and formulated in EXCEL. Once a sufficient understanding of the purpose and protocols associated with the structuring process is developed, we will explore the bond structuring process using DBC Finance, the industry standard bond structuring software.
This course will focus on the issuance and management of debt by state and local governments as well as nonprofit institutions. The course will serve as an overview of how municipal and nonprofit borrowers access the capital markets, primarily through the issuance of tax-exempt bonds. Students will understand the role of the various participants in the capital markets, including but not limited to the issuer, underwriter, financial advisor, legal counsel, rating agency, insurer and investor. Discussion and assignments will explore historical events in this niche market that have shaped the current approach to debt management for municipal and nonprofit institutions, investor sentiment and regulatory changes. Students will become familiar with related financial analyses including calculations for debt service, credit metrics and financial covenant compliance.
The assignments and exams will feature quantitative exercises that require proficiency with accounting concepts, financial math, budgeting models and Microsoft Excel applications.
This course examines the process by which financing objectives are transformed into municipal bond transactions and other opportunities to utilize structured finance products in the health and corporate finance sectors. The course will center on a case study of an actual bond transaction that financed multiple new money (construction) and refunding projects. We will learn the mathematics underlying financial structure and the governing conventions and vocabulary of structured finance. We will study the instruments of structured finance and how they manifest into structural form. Once we have developed this core understanding, we will review in detail the Official Statement related to the case study to begin our exploration of the structuring process.
All cash flow elements of the structuring process will be discussed in detail and formulated in EXCEL. Once a sufficient understanding of the purpose and protocols associated with the structuring process is developed, we will explore the bond structuring process using DBC Finance, the industry standard bond structuring software.
This course will focus on the issuance and management of debt by state and local governments as well as nonprofit institutions. The course will serve as an overview of how municipal and nonprofit borrowers access the capital markets, primarily through the issuance of tax-exempt bonds. Students will understand the role of the various participants in the capital markets, including but not limited to the issuer, underwriter, financial advisor, legal counsel, rating agency, insurer and investor. Discussion and assignments will explore historical events in this niche market that have shaped the current approach to debt management for municipal and nonprofit institutions, investor sentiment and regulatory changes. Students will become familiar with related financial analyses including calculations for debt service, credit metrics and financial covenant compliance.
The assignments and exams will feature quantitative exercises that require proficiency with accounting concepts, financial math, budgeting models and Microsoft Excel applications.
This course examines the process by which financing objectives are transformed into municipal bond transactions and other opportunities to utilize structured finance products in the health and corporate finance sectors. The course will center on a case study of an actual bond transaction that financed multiple new money (construction) and refunding projects. We will learn the mathematics underlying financial structure and the governing conventions and vocabulary of structured finance. We will study the instruments of structured finance and how they manifest into structural form. Once we have developed this core understanding, we will review in detail the Official Statement related to the case study to begin our exploration of the structuring process.
All cash flow elements of the structuring process will be discussed in detail and formulated in EXCEL. Once a sufficient understanding of the purpose and protocols associated with the structuring process is developed, we will explore the bond structuring process using DBC Finance, the industry standard bond structuring software.
This course will focus on the issuance and management of debt by state and local governments as well as nonprofit institutions. The course will serve as an overview of how municipal and nonprofit borrowers access the capital markets, primarily through the issuance of tax-exempt bonds. Students will understand the role of the various participants in the capital markets, including but not limited to the issuer, underwriter, financial advisor, legal counsel, rating agency, insurer and investor. Discussion and assignments will explore historical events in this niche market that have shaped the current approach to debt management for municipal and nonprofit institutions, investor sentiment and regulatory changes. Students will become familiar with related financial analyses including calculations for debt service, credit metrics and financial covenant compliance.
The assignments and exams will feature quantitative exercises that require proficiency with accounting concepts, financial math, budgeting models and Microsoft Excel applications.