Lomax Elected NAFOA President

PHOENIX--(BUSINESS WIRE)--The membership of the Native American Finance Officers Association (NAFOA) by acclamation elected Bill Lomax the Association’s new president at its 25^th Annual Conference – “The Wall Street Summit” – last week in Jersey City, N.J.

“If all of these sister organizations are working together, exchanging ideas, participating in and adding value to one another’s events, the result can only be a plus-plus for every Tribal Nation and First Nation in North America”

Taking over Lomax’s previous position as 2^nd Vice President of NAFOA’s all-Native Board of Directors is Derrick Watchman, a member of the Navajo Nation and a Vice President at JPMorgan Chase, who won a very close race over three other strong candidates.

Lomax assumed management of the Association’s 25^th Anniversary conference last year, laid the groundwork to bring the conference to the New York metropolitan area, and arranged the historic bell-ringing by Tribal leadership at the New York Mercantile Exchange that concluded the conference. The event attracted four times as many financial services industry sponsors than last year’s conference and Tribal participation dramatically increased.

“As Tribes continue to strengthen and diversify financially, the time for a stronger NAFOA is now,” Lomax said. “We need to be there for the Tribal leaders and their finance officers, and for the professionals in the industry who are looking for a better understanding of doing business in Indian Country. This conference was an enormous success. Tribal participant excitement at seeing NAFOA succeed was palpable and we intend to build on that as we continue to evolve as an organization over the next 25 years and beyond.”

In the build-up to NAFOA’s conference, Lomax fostered unity with other national Native associations, initiating discussions that led to working partnerships with NCAI and NIGA, and furthered NAFOA’s relationship with the Aboriginal Finance Officers Association (AFOA) of Canada.

“If all of these sister organizations are working together, exchanging ideas, participating in and adding value to one another’s events, the result can only be a plus-plus for every Tribal Nation and First Nation in North America,” Lomax said. “I don’t think that Tribes are going to be confused anymore about where to get their financial information and where to network with financial professionals. They’re going to know to come to NAFOA and our conferences.”

Lomax intends to strengthen and grow NAFOA’s presence in Indian Country, and the first priority is education. Along with delivering relevant and valuable conferences, NAFOA will move forward on a partnership with Arizona State University and the University of Arizona to provide a Tribal finance officer certification program. Additionally, Lomax is looking into ways that NAFOA can increase Native American participation in finance by providing meaningful scholarships for Native students in finance.

An enrolled member of the Gitxsan Nation, Lomax is a former attorney with an MBA from Columbia Business School. He has been actively working with Tribal governments his whole career and has several years experience working on Wall Street, helping tribes with financing and investments. Lomax also worked as an attorney for the Canadian Department of Justice and currently serves as a Board member of Indian Dispute Resolution Services and the Northwest Indian College Fund.

Lomax was featured as one of “Seven Native American Standouts” by USA Today during the opening of the National Museum of the American Indian in Washington, D.C.

The Native American Finance Officers Association builds the financial strength of tribal governments and their enterprises by providing educational forums and resources, and by instilling finance and accounting best practices. NAFOA is a national not-for-profit organization with members in positions such as tribal finance officers, controllers, treasurers, accountants, auditors, financial advisors, tribal leaders, and many in the financial services industry.

NAFOA is unique because it focus solely on the financial success of tribal entities, providing a central source for the latest in financial management information and professional idea sharing. Members connect with experts in various financial areas, specifically as they apply to tribal governments and organizations.

NAFOA believes that sound financial management strengthens tribal governments and organizations. This creates strong Native American communities now and for generations to come.