Professional Summary: More than ten years of experience with major financial services companies in financial reporting, control, and auditing. Proficient in US GAAP, valuation of businesses and financial assets, accounting and financial analysis of Fixed Income and Equity Securities, Securitization transactions and Derivatives.
Core Competencies include: Financial Analysis, Reporting and Control Technical Accounting Policy Fresh Start Accounting - FASB ASC 852 (SOP 90-7) Structured Transactions Review Distressed Business Valuation Bankruptcy Analysis and Restructuring Advisory
Notable Achievements: Located $12.5M in undercharged funding costs to trust investors through adept analysis of funding cost for distressed loans. Managed the development of a Commitments Accounting system that generated 80% savings in personnel cost. Generated 40% cost savings for a financial department by implementing a new fully computerized accounting system and developing a new chart of accounts.
PROFESSIONAL EXPERIENCE:
INDEPENDENT MANAGEMENT CONSULTING / ADVISORY: 2001 Present
Bank of America: 2008 2009 New York, NY Navigant Consulting, Inc.: 2008 2008 New York, NY Fannie Mae: 2005 2007 Washington D.C. Bearing Point Inc.: 2003 2005 New York, NY JP Morgan Chase: 2001 2003 New York, NY
Managed financial accounting and impairment analysis for Auction Rate Securities and other Asset-Backed Securities; calculated liquidity and valuation reserves for multi-billion dollar ABS portfolio Computed risk weighted assets and risk based capital charge for multi-billion dollar portfolio in line with Basel I and II accords Performed FAS 140 and FIN 46R analyses and disclosure for on and off balance sheet Tender Option Bonds (TOBS) trusts. Strategic analysis and accounting for collapse and consolidation of multi billion dollar off balance sheet trusts Managed daily and monthly Profit and Loss and Balance sheet analyses. Prepared fair value disclosure and Level 3 roll-forward report in compliance with FAS 157 Resolved key technical issues and prepared transaction memos regarding complex real estate debt and equity acquisition, disposal, restructuring and securitization transactions. Prepared purchase price allocation for acquisition transactions. Researched and developed accounting policy memos for a multi-billion dollar real estate and solar energy finance and investment management company. Prepared financial statements for real estate limited partnerships, solar energy and high yield funds. Interfaced with Ernst and Young and KPMG external auditors. Provided accounting guidance and impairment analysis on non-performing loans and Real Estate Owned (REO) properties Key role in research and development of correct accounting policy and guidance for Fannie Maes earnings restatement and future state efforts. Analyzed and accounted for complex structured loans and securitization transactions. Managed the development of Business Requirements and Accounting rules to implement Fannie Maes restatement accounting policy for commitments, financial assets purchase and sale. Liaison with business and technology and provided guidance to system development to ensure that application development is in compliance with Business requirement and minimize exceptions Lead role in the development of Business Requirements and Accounting rules to implement FAS 157 Fair Value accounting (mark-to-market) and disclosure for Whole Loans and Mortgage-Backed Securities (MBS) purchases and sales. Liaison with business and technology and provided guidance to system development to ensure that application development is in compliance with Business requirement and minimize exceptions Ensured that performing and non-performing securities, originating fees, gains or loss, funding cost and pay downs, and financial reporting for the referenced fixed income portfolio were in compliance with FAS 65, FAS 91, 115, and 133
Edgix Corporation New York, NY Corporate Controller 2000 2001 Managed corporate consolidated financial reporting, treasury, and control functions Established an accounting policies and procedures manual, including solid internal controls procedures that protected the companys assets and ensured integrity of financial records Developed financial forecasts for venture capitalists. Worked with the CFO to obtain $50M venture capital financing. Supervised 15 accounting staff. Designed and instituted monthly reporting requirements for all foreign subsidiaries
Paul J. Cooper Inc. Brooklyn, NY Controller 1996 2000 Prepared and maintained budgets, including modifications and variance analysis Managed month-end closing and developed monthly, quarterly, and annual financial statements Monitored cash flows and created cash flow projections. Oversaw five staff members in charge of accounts payable, accounts receivable, payroll, and general ledger and reported directly to CEO
Frye, Williams & Co., CPAs Newark, NJ Audit Manager 1994 1996 Oversaw audit engagements and prepared and analyzed GAAP financial statements and footnotes clients industry exposure includes manufacturing, real estate, retail, non-profit, and government
Union Bank Securities PLC Lagos, Nigeria Senior Financial Analyst 1991 1994 Conducted fundamental analysis resulting in investment recommendations on equity securities that were suitable for inclusion in portfolios. Evaluated portfolio performance Participated in portfolio construction and asset allocation decisions
KPMG Lagos, Nigeria Supervisory Audit Manager 1987 1990 Planned, coordinated, and completed audit engagements Clients included manufacturing companies, commercial and investment banks, and pension funds
EDUCATION AND CERTIFICATIONS
Certified Insolvency and Restructuring Advisor candidate (CIRA) - Passed parts 1 and 3, result for part 2 pending Certification in Distressed Business Valuation candidate (CDBV) result for part 3 pending Chartered Financial Analyst (CFA) Certified Public Accountant (CPA) Certified Management Accountant (CMA)
New York University, Leonard N. Stern School of Business New York, NY Masters of Business Administration GPA 3.6 December, 2007 Specialization in Finance and Financial Instruments Graduated top 10% of class Beta Gamma Sigma honorary
Ogun State Polytechnic Abeokuta, Nigeria B.S. Accounting GPA 3.4 June 1987
Wall Street Prep New York, NY Intensive restructuring and distressed valuation modeling training program August 2009 Performed financial modeling and valuation of financially distressed business in the context of an out-of-court restructuring or Chapter 11 bankruptcy Developed a Plan of Reorganization including the new capital structure, and the estimation of recovery values for various stakeholders. Integrated various restructuring elements into the model including DIP financing, assessment of creditor claims, divisional reorganization, Section 363 asset sales and other structural adjustments
ADDITIONAL
Investment Banking Institute New York, NY Assistant Instructor - financial modeling and valuation training program Performed company valuations utilizing (i) comparable public company analysis, (ii) precedent transactions analysis and (iii) discounted cash flow (DCF) analysis Built fully-integrated financial statements projection model, LBO model, accretion/dilution merger models, including ability to run operational and capital structure sensitivities within models and data tables for sensitivity analysis
Skills: Expert Level MS Excel, Access, Word, Power Point and Visio, Lawson, Dynamics, Oracle SQL, Bloomberg, QuickBooks Pro, Saturn (Fixed income portfolio management system), PeopleSoft and M3 (credit derivative risk management system), Fluent in Yoruba
Affiliations/Activities: American Institute of Certified Public Accountants Association for Insolvency and Restructuring Advisors Chartered Financial Analyst Institute New York Society of Security Analysts Soccer coach |