Position	Director of Finance
Location Confidential	Yes
Willing to Relocate	Yes
Industry	Financial-Banks-Commercial/Retail&CreditCards
Function	FINANCE--CFO/Control/Acctg./Treas./Tax,etc.
Compensation	$150,000 to $300,000
Resume Summary
Financial Executive (CPA,MBA,Series 27)with a proven record of achievement in financial and administrative management.Demonstated abilities in establishing a quality compliance function,substantially improving financial reporting and implementing accounting policy and internal controls to ensure a well managed organization.
Resume Body      DIRECTOR OF FINANCE
SUMMARY Financial Executive (CPA, MBA, Series 27) with proven record of achievement in financial and administrative management. Demonstrated abilities in establishing a quality compliance function, substantially improving financial reporting and implementing accounting policy and internal controls to ensure a well managed financial organization. Solid experience in accounting, financial reporting and process improvement. Skilled problem solver; excellent at motivating people. EXPERIENCE Financial Holding Company 1998- 2003 Director of Finance Responsible for the management, accounting, tax and regulatory reporting of the US Operations of a Financial Holding Company with 28 subsidiaries in the US, assets in excess of $ 8 billion and revenue in excess of $ 120 million. Reported to the Chief Financial Officer and managed staff of ten professionals. Activities in the US include Banking, Broker Dealer and Merchant Banking. Profitability Analysis and Improved Financial Reporting • Developed a monthly reporting package which showed by Business Line and the US Operations the Net Revenue, Direct and Indirect Expenses, Provisions, Return on Equity and Efficiency Ratio of actual vs. budget. • Created a flash report which reported the daily, month to date P(L), position to limit variance analysis and highlighted major variances for senior management. • Initiated quarterly detailed written analysis of the performance of the US Operations and each Business Line. • Performed cost/benefit analysis on proposed sale of assets resulting in a prudent business decision. • Managed Operational and Capital Budget; prepared three year financial forecasts. • Implemented quarterly roll over year-end estimates and budget projections to track short and medium term targets. • Developed methodology to allocate indirect costs to Business Lines and Subsidiaries which improved profitability reporting. Implemented Accounting Policies Based on US GAAP • Wrote detailed accounting procedures with examples and accounting entries for the use of staff, auditors, and regulators; presented to Senior Management a summary of the accounting policies by asset class to ensure understanding and compliance. • Managed month-end close by legal entity and consolidation of the US Operations. Established procedures to improve the timeliness and integrity of financial information. • Managed General Ledger and financial reporting to ensure accounting and reporting compliance with internal accounting policy, US GAAP, Regulatory GAAP, French GAAP and International Accounting Standards. • Liaison to external auditors. Established Compliance Function • Developed a compliance plan which incorporated the review of over 25 regulatory requirements; plan included but not limited to the Patriots Act, Sarbanes-Oxley Act, money anti-laundering. • Performed a review of each regulatory requirement for compliance to bank policy and regulatory guidelines. • Served as Chairman to the Compliance Committee; presented to senior management and members of the Committee new developments in the Compliance arena. • Prepared the Compliance Policies of the US Operations. • Coordinated regulatory examinations initiated by various regulators. Page 2 Member of the Credit Committee • Reviewed deal/product pipeline; advised Business Lines on the booking of new products, risk based capital requirements and calculation of impairment. • Calculated after tax cost/benefit analysis on sale of impaired assets. • Reviewed adequacy of the loss allowance. Improved Operations and Control Initiatives • Reviewed the Business Processes used by Operations, Finance and Middle Office. • Implemented corrective action by automating and restructuring processes that required manual intervention or created a bottle neck. • Reduced the monthly reporting timeframe from eight business days to five business days. • Achieved cost savings of 10% or $ 700 thousand of controllable operating expenses in 2002. • Negotiated and reviewed vendor contracts; managed relationships. Management of Subsidiary Activities • Served on the Board of Directors of the Broker Dealer, Investment Corp. and various limited liability companies. • Analyzed, budget and forecast the cash flows to determine operations needs and optimize investment opportunities. • Provided oversight and recommendations regarding capital adequacy and capital structure. Member of the Information Technology Committee • Systems Implemented  ACBS – Lending Back Office  PAM- Asset Backed Security and Fixed Income Back Office System  MUREX- Off Balance Sheet Product Back Office System  Safe Banking- Money Anti Laundering Software  CRS- Customer Profitability System  Great Plains Accounts Payable and Fixed Asset System  IDOM- Regulatory Reporting System Deal Structuring • Worked with attorneys and business line managers to establish:  A $ 500 million securitization structure to reduce risk based capital  Subordinated debt structures to increase tier I capital  A collateral lending program to enhance revenue • Formed legal entities to record the activities of the above mentioned structures. • Performed due diligence for a major US acquisition by Head Office. Branch of the Japanese Bank 1997-1998 Vice President - Controller Reported to the Deputy Manager. The Bank was under a ‘cease and desist order’ from the Regulators and operating under an action plan at the time I was hired. Responsibilities included the accounting, financial and regulatory reporting for the US Operations of the Branch of a Japanese Bank with assets in excess of $ 6 billion. • Member of the Bank’s ALCO, Budget and Internal Control Committees. • Issued procedures on reconciliations covering responsibilities of preparation, review, aging of open items and operational write-offs. • Developed management information reports such as liquidity position, profitability by profit center and preparation of budget. • Implemented MIDAS ( G/L, Dealing, Off Balance Sheet, Lending). • Developed detailed specifications for the automation of US GAAP and Japanese GAAP reporting. Page 3 Financial Holding Company 1978- 1997 Vice President – Controller 1988-1997 Responsible for all accounting, financial and regulatory reporting systems of the Bank, Asset Securitization Company, Private Equity Investment Company and the Leasing Company with assets in excess of $60 billion and revenue in excess of $ 500 million. Reported to the Chief Financial Officer and managed staff of eleven professionals. Activities in the US include Banking, Broker Dealer, Investment Banking and Merchant Banking. Created the Treasury Liaison Function • Drafted internal control policies and procedures to monitor the activities of Treasury. • Developed methodology to calculate by Desk the Net Interest Income and the Revaluation Gain (Loss) on Trading Positions on a daily basis; calculation was validated by both the Head of each Desk and the Treasurer. • Established reporting methodology to view each Desk as an independent entity to enable the Bank to calculate the contractual bonus based on the “net result” of each Desk. • Reviewed hedge effectiveness of off balance sheet products designated as hedge. Member of the Credit Management Committee • Reported on the non performing and impaired loan portfolio. • Prepared policy on loan impairment with a template on the calculation of impairment using guidelines set up by FASB 114. • Signed off on all restructured loans using guidelines set up by FASB 15. • Reviewed with the external auditors the adequacy of the loan loss allowance. Member of the New Products Committee • Provided accounting guidance to Business Lines. • Advised on Risk Based Capital Usage. • Prepared an accounting and reporting profile for all new products. Other Achievements • Created a daily flash report for senior management which reported the daily and month to date P(L) and Balance Sheet exposure. • Liaison to external auditors; prepared financial statements on a legal entity basis, including footnotes for the review and opinion of the independent auditor, thus reducing the fees $ 50K annually. • Cross trained staff of the Controller’s group with staff from the Back and Front Office to enable them to view their function from a different perspective. Accounting Officer 1978-1988 Trust Company of New York 1975-1978 Senior Accountant Reported to Controller. Prepared regulatory and management reports. EDUCATION MBA in Financial Management, Pace University, New York, 1979 BA in Accounting, Queens College, New York, 1975 Passed the NASD Series 27 Exam (Financial Operations Principal) PROFESSIONAL MEMBERSHIPS American Institute of CPAs, NY State Society of CPAs
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