Our Story

Otaras is a regulatory and financial technology company formed for the specific purpose of developing powerful and streamlined workflow management, data management, and regulatory compliance solutions for all professionals across the municipal market.

We developed MuniVisor to help municipal advisors focus on important solutions rather than on forms. We collaborated with municipal compliance experts to create an interconnected, seamless, and professional experience that works for the industry.

Our Team

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Matthew Roggenburg

Chief Executive Officer

Matt is a 35-year veteran of the municipal market with broad industry experience. He held senior positions at JP Morgan Securities, PNC Capital Markets, UBS Securities, and Goldman Sachs. While at JP Morgan, he led the Municipal Capital Markets team, which developed industry-leading bespoke debt and derivative solutions for municipal clients. At PNC, he managed the East Coast public finance investment banking team. In addition, Mr. Roggenburg co-founded an MSRB-registered municipal advisory firm, Cityview Capital Solutions. During that time, he served on the MSRB’s Professional Qualifications Committee charged with the development of its municipal advisor qualification exam. Matt also spent several years in the municipal credit enhancement sector with an affiliate of MBIA, assisting with the formation of both Financial Security Assurance (now a part of Assured Guaranty) and Connie Lee Insurance Company. Mr. Roggenburg has held FINRA Series 7, 52, 53 and 63 Licenses. Matt is a graduate of The Wharton School of the University of Pennsylvania

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Deepak Adinarayana

President & Chief Operating Officer

Deepak is a founding member of Otaras. During his 18 years in technology and management consulting, Deepak held senior roles helping clients like Goldman Sachs, Bank of America, UBS, Morgan Stanley, Citi, PNC, etc. in developing and delivering software products, solutions and services in the Capital Markets and Wealth Management. Most recently, he was Director and Financial Services Practice Head at Iris Software where he took to market an enterprise product to automate presale processes in municipal bond underwriting. He has robust understanding of the financial advisory and underwriting business processes in the Municipal Market. He can discover needs/gaps in the market, understand business processes and follow through with technology solutions. Deepak is a graduate in Operations Research from The University of Texas at Austin.

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Naveen Balawat

Chairman & Chief Technology Officer

Naveen is a founding member of Otaras. Data enthusiast and a strong statistician, he specializes in building data-driven solutions/products using Machine Learning, Big Data and Analytics. During his 18 years in technology and management consulting, Naveen has run several large programs, rolled out industry utilities, led analytics teams and established Centers of Excellence for large clients like Goldman Sachs, Citi, Clarient, Fidelity, Legg Mason, etc. He has helped leading firms on Wall Street in developing technology solutions in the areas of Asset / Wealth Management, Compliance, Operations / On-boarding and Equities Middle Office. Most recently, he built an Analytics Consulting practice and took several solutions to market in areas of Asset Management and Anti Money Laundering (AML). Naveen is a graduate in Applied Statistics from The Colorado State University

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Carol Hargrave

Chief Marketing Officer

Carol is a seasoned marketer with experience in startup marketing and in FinTech. Carol has held a variety of senior marketing and leadership roles. Most recently she was the Chief Marketing Officer at Klarna, a global provider of e-commerce payment solutions, based in Stockholm, Sweden. At Klarna Carol led a major growth initiative to help position the Klarna brand with both merchants and consumers. Prior to Klarna, Carol led high-achieving teams at Citibank, Bill Me Later and PayPal. She was part of the Bill Me Later team which was successfully acquired by PayPal in 2008. She has a proven track record across a variety of areas including business development, marketing strategy, B2B marketing and consumer marketing. Today, Carol advises a variety of startups in verticals that include FinTech, EdTech, and SaaS products. She enjoys building strategies for businesses to go-to-market and to develop their growth engines

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Robert Fine

Head, Analytics

Bob is a 30-year veteran of the municipal finance industry with significant experience across a range of areas including start-ups, financial advisory, and investment banking. He has worked for some of the largest firms within the industry including JP Morgan, Goldman Sachs, PFM, and PRAG. For the better part of his career, he has specialized on cash flow structuring and analytics, having developed and marketed debt structuring models for some of the country’s largest issuers of tax-exempt debt including the City of New York and the New York State Metropolitan Transit Authority. His current focus is on devising ways of leveraging cutting-edge data science and internet tools to automate workflow processes across the industry. He views the industry as awash in antiquated and inefficient workflows, particularly in the area of managing and analyzing data. As a result, he thinks the industry is ripe for a sea-change. He thinks that the ongoing decline in volumes and revenues will force industry participants to focus on more efficient management of the expense line of their P&Ls, driving them to develop efficiencies across regulatory, compliance, and marketing processes. Mr. Fine has held FINRA Series 7, 52, and 63 licenses. He holds an MBA from the Johnson School, Cornell University

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Kapil Gahlot

Vice President of Technology

Kapil is a results-driven software engineering executive with the ability to create and manage complex execution plans. Kapil is passionate about technology and innovation. He is a technology executive with over 15 years of experience in software development. He has consistently delivered next generation software applications in FinTech, EdTech, IoT, and Artificial Intelligence. He has worked at a variety of banking and financial services companies in different geographies; GE Money in the UK, Citigroup in the US and RBS in India to name a few. In his previous role as the Head of Operations at Citrus Payments, he was instrumental in payment processing growth of 400% breaching 40 million transactions at USD 1.2 billion per year. Kapil is an undergraduate from the Indian Institute of Technology (IIT-BHU) and a graduate of the Indian Institute of Management (IIM-Ahmedabad)

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John Buckman

Vice President of Legal Affairs

John is a corporate attorney and the company’s Vice President of Legal Affairs. An entrepreneur at heart, John has lent a hand in founding a number of startup companies, while maintaining a strong foothold in legal transactional and compliance matters. During his 20+ year legal career, John has worked as an associate with two multi-national law firms and has represented a number of clients, including Fortune 100 companies. Mr. Buckman is ACAMS certified and is licensed to practice law in New Jersey and New York. He is a graduate of the University of Connecticut and Creighton University School of Law

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