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Board of Director Bios

Lawrence Mundy

Lawrence Mundy is the Chief Financial Officer of the Public Employees’ Retirement Association of Colorado (Colorado PERA). He is responsible for managing the operational cash flows and the systems to process, analyze, interpret, and report financial information. In addition to his work at Colorado PERA, Lawrence serves on the Colorado Society of CPAs Government Issues Forum and on the GFOA Committee on Retirement and Benefits Administration. Lawrence is also a member of the AICPA and treasurer of the Denver Mile High Rotary Club. Previously, Lawrence worked at a custodian bank as a Business Systems Analyst, Accounting Analyst and Trust Administrator and has worked with a number of U.S. and International Government-Sponsored Funds and Corporate-Sponsored Funds.

Lawrence received a B.S. degree in Commerce from DePaul University and a M.S. degree in Accounting from University of Illinois at Chicago. Lawrence is a licensed Certified Public Accountant in Colorado.

Karen Carraher

Karen Carraher is the Executive Director and the Interim Director of Finance for the Ohio Public Employees Retirement System. Karen previously was the Finance Director for the system since 2002. In this capacity, she has been responsible for oversight of the System's financial information, including annual financial statements, budgets, actuarial analyses, and investment accounting. Additionally, she has been responsible for managing the System's relationships with employers and the administrative support areas of the organization.

Ms. Carraher earned her Bachelor of Science degree in Business Administration from The Ohio State University and her Masters from Capital University. She is a certified public accountant.

Karen is a founding member of the Public Pension Financial Forum (P2F2), a national organization representing the financial operations of public pension systems throughout North America. She has served as President, Treasurer and is currently a Board member of the organization.

Ms. Carraher began her career as an Audit Manager with the accounting firm Ernst & Young. She served as Controller for both Mt. Carmel Health and Riverside Methodist Hospitals, and she was the Director of Business Services for the Ohio Education Association. She joined the Ohio Public Employees Retirement System as its Director of Finance in 2002. She was named Interim Executive Director in March 2011.

Karen has two children – Amanda and David.

Rhonda H. Covarrubias

Rhonda H. Covarrubias, CPA has over 20 years of experience in the pension industry with the Texas Municipal Retirement System (TMRS) in Austin. TMRS is a hybrid defined benefit, cash-balance plan, available to municipalities and their employees across the state of Texas. Rhonda began her pension career as the organization’s Investment Accountant, was later promoted to Controller, and is currently serving as the System’s Director of Finance. Prior to her employment with TMRS, Rhonda spent five years as an auditor with KPMG, focusing on the government and banking industries. Rhonda is a graduate of Texas A&M University.

Rhonda is currently serving as a Board Member of the Public Pension Financial Forum (P2F2) . Rhonda has been an active contributor to the OnSite/Hospitality Committee and serves as one of the CPE coordinators. Rhonda also serves on the board for the Hays County Aggie Mom’s Club and as Treasurer for the Buda (Texas) 4-H Club.

Rhonda is married and has three children. She enjoys watching sports, playing cards and board games, and swimming. When finding some alone time (which is rare), Rhonda enjoys a day at the spa and reading.

Dave DeJonge

Dave DeJonge, CGFM, CTP is the Deputy Administrator at Arizona’s Public Safety Personnel Retirement System (PSPRS). He started his career at PSPRS in 1985, then moved to Minnesota in 1996 to become the CFO and then the Deputy Director at Minnesota’s Public Employees Retirement Association (PERA). After 20 years in Minnesota, Dave moved back to Arizona, where he hopes to finish out his career. Dave is a member of the GFOA and the Association of Government Accountants. He has served on GFOA’s Special Review Executive Committee and is a Board member and past-president of P2F2. He also sat on Governmental Accounting Standards Board’s implementation guide advisory committee for GASB Statements 67 and 68, as well as the Pension Communication Resource Group coordinated by GASB. Dave earned BA degrees in both business administration and music education from Concordia College in Moorhead, Minnesota and an MBA degree from Arizona State University. Dave and his wife, Janet, have two children who have finally flown the nest. Dave is active in Boy Scouts and his church, and loves music and being outdoors.

Rob Dolphin

Rob Dolphin is currently the Finance Manager of Utah Retirement Systems (URS) in Salt Lake City, Utah. He has over 20 years experience working in accounting and finance management for non-profits and public entities and started his career at URS in 2000. He specializes in Public Defined Benefit, Defined Contribution, and Health Care financial management and financial reporting. Rob has a bachelors’ degree in Accounting from Utah State University and also has a Master of Business Administration Degree. Rob has been an active member of P2F2 since 2008 and holds the designation of Certified Public Accountant in the State of Utah and also is a Charted Global Management Accountant. He is a member of the Utah Government Finance Officers Association, Utah Association of CPAs, and the AICPA. He is married to his wife Traci for 20 years and has 4 children. He is the father of three boys and one daughter and enjoys mountain biking and coaching super league basketball and watching his daughter play soccer.

Karl Greve

Karl Greve, CGFM, CPA is the Chief Financial Officer for the Colorado PERA and has over 25 years of experience with the Association. Karl has served on the AICPA Employee Benefits Expert Panel, GFOA Committee on Retirement and Benefits Administration, and is a Board member and was a past President of the Public Pension Financial Forum. He has served on several GASB task forces, including the OPEB standards task force. Karl was one of the preparers of the AICPA publication Checklists and Illustrative Financial Statements for Governmental Employee Plans. He received an undergraduate degree in finance from the University of Illinois and has an MBA with an emphasis in finance from the University of Colorado at Denver.

Darla Iverson

Darla Iverson is the chief financial officer for Iowa Public Employees’ Retirement System (IPERS) in Des Moines, Iowa. She oversees human resources, financial management, budgeting, investment accounting, employer reporting, property management and office services. A graduate of the University of Northern Iowa, Darla holds a BA in Management/Business Administration. Darla is also a Certified Public Manager. Prior to joining IPERSin 1995, Darla worked for the Iowa Department of Administrative Services where she was responsible for the department’s budgeting and accounting processes.

Robin Madsen

Robin Madsen is the chief financial officer for CalSTRS where she is responsible for providing leadership, strategic planning and policy guidance to CalSTRS financial services functions. Her areas of responsibility include Financial Accounting, Investment Accounting, Pension Accounting, Budgets and Cost Accounting, Enterprise Risk Management, and Continuous Improvement.

Ms. Madsen joined CalSTRS in June 2009 as a special consultant to the CFO. In November 2009, she began her tenure as the acting CFO. Before joining CalSTRS, Robin was involved in financial and information technology consulting for public and private sector entities in California, Oregon and Washington for more than 20 years. She began her consulting career with Peat Marwick, and later owned and operated two consulting organizations based in Sacramento for 13 years. Prior to her consulting work, she served as the assistant controller and assistant vice president for Kaufman and Broad’s Mortgage Company, and was the loan accounting manager for a wholesale mortgage banker, Farmers Savings Bank. Ms. Madsen holds a Bachelor of Arts in economics from the University of California, Davis. She continued her economics education with graduate coursework at the Massachusetts Institute of Technology, and accounting coursework through the University of California, Los Angeles extension program.

Michele Nix

Michele Nix is currently employed by the City of Columbia, Missouri as the Director of Finance and CFO where she represents the City of Columbia Police and Firefighter Pension Plan as the Administrator. Michele holds a Bachelor’s degree from the University of Missouri and a Master of Business Administration degree from William Woods University. Michele’s experience includes working as CFO for Missouri State Employees’ Retirement System, Director of Plan Administration for Financial Institutions Consulting Corporation, as well as experience in the public accounting and banking industries. She has served as a past Missouri Quality Award examiner for the state Baldrige award and on the Special Review Executive Committee for GFOA. Michele has served on the Board of P2F2 (Public Pension Financial Forum) since 2008 and is a past-president of the organization. Michele is married to Matt and enjoys travel, golf, and entertaining.

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