Stephen is a nationally experienced arbitrage and post-issuance compliance specialist who works with school districts, cities, counties, and special districts to manage the full lifecycle of tax-exempt bond compliance. With over 16 years of experience, Stephen helps issuers translate complex IRS regulations into clear, actionable strategies whether navigating spending exceptions, rebate liabilities, or investment decisions. His approach is highly proactive, helping clients identify risks early, maintain compliance, and optimize financial outcomes. As Director of Arbitrage Consulting at Ehlers, Stephen leads engagements across a wide range of financings, including new money, refunding, and multipurpose bond issues, and frequently collaborates with finance officers, auditors, municipal advisors, investment advisors, and bond counsel. Prior to joining Ehlers in 2018, Stephen helped lead the national arbitrage practice at Arbitrage Compliance Specialists, where he developed deep expertise in complex compliance structures and large-scale client portfolios.

Outside of work, Stephen enjoys spending time with his family, as well as coaching, gaming, reading, and watching movies.

Education

Bachelor’s Degree in Financial Management, University of Colorado – Denver

Licenses & Certifications

Series 6: Investment Company & Variable Contracts Products Representative (Inactive)
Series 63: Uniform Securities Agent (Inactive)

Professional Affiliation & Memberships

National Association of Bond Lawyers
Minnesota Government Financial Officers Association
Wisconsin Government Financial Officers Association

Community Involvement

American Cancer Society – Donor
Gulf Coast Blood Center – Donor
Junior Achievement – Volunteer
i9 Sports – Coach/Volunteer