Strategic and Seasoned CPA Controller
25 + years of Professional Experience and a CFO mindset and approach to solving complex challenges and a proven track record
Professional Experience
SVP Controller - Global Supply Chain Financing - Nov 2021 - Current
• Manage monthly close for UK Parent(IFRS Stand Alone and Consolidated) and its global subsidiaries (30+ entities) including; US entity (US GAAP), Switzerland (Swiss GAAP), Brazil, Mexico, Germany (German GAAP), Canada, South Africa, Spain, Hungary, Luxemburg, India, Singapore, Korea, Malaysia, China, Italy, Australia, Japan, Hong Kong, Netherlands managing a global team of 22 Accounting/Finance, FP&A and Tax professionals in the US, Germany, Switzerland, Hungary and Brazil– reporting to CFO
• Oversight and responsible for the NetSuite ERP (Accounting System) Implementation in 2021 when the company was purchased from IBM and migrated from Arcessium ERP. Manage and deliver continuous improvements, efficiency related projects in close collaboration with RSM (NetSuite SME) who are our externally managed application services provider. Maintain primary admin user role in NetSuite with end-to-end ownership of all NetSuite static data management (Chart of Accounts, Entities, Employees, Expense Reports, Month End Close Workflows etc..).
• Direct and manage all M&A Accounting and Finance related activities, including planning and on-boarding of new companies into existing companywide accounting processes and policies. Recent transactions include a German Regulated Banking Entity (2024) and Swiss Regulated entity in 2022, which also entails alignment of local GAAP to IFRS/US GAAP Accounting standards as part of ongoing month end/year and reporting and annual audits.
• Oversight and management of Global Treasury function for all operating/sweep accounts (60+ accounts across 30 entities) including liquidity management, preparation and presentation of liquidity analysis, 26-week cash flow forecasts to CFO/CEO, Intercompany/International settlements, coordination with legal dept & external legal advisors on upstreaming of capital/dividends/capital related settlements
• Responsible for successful delivery of audited financials across 9 International entities working closely with external audit partners (BDO) across all facets in the end-to-end audit planning and execution in each country. Work closely with PWC to deliver Consolidated Financial Statements and stand-alone financials for UK parent entity compliant with IFRS standards and the UK Companies act.
• Responsible for Global Tax department and tax compliance (Direct and Indirect) across 30 countries in close coordination with E&Y, PWC and several outside local advisors in countries where PWC/E&Y do not operate across (India, Chile)
• Work closely with external advisors (PWC and E&Y) to ensure successful and timely delivery of global compliance related deliverables across all jurisdictions revolving around statutory financials, Corporate Income Tax, VAT/GST
• Responsible for Global FP&A Team located in Hungary with oversight and control over annual budgets, variance analysis and deck presentations to CFO/CEO and Blackstone partners which entails monthly presentation of key financial metrics to the board of directors related to financial performance, balance sheet review and liquidity analysis
• Define, develop and deliver strategic vision for Accounting Department workflow management in line with best-in-class available tools in the market that focus on balance sheet substantiation, automated flux analysis, journal entry workflow management by implementing the FloQast system that helped shorten month end close window by 8 business days while allowing for full transparency and KPI reporting of all accounting related deliverables which was critical for management of remote teams
• Responsible for end-to-end accounting, Financial Reporting and month end close inclusive of standalone local GAAP financials and global consolidation (IFRS) at the UK parent level. Ownership of all GL bookings at the local GAAP level for each entity in NetSuite ERP.
• Team responsible for global payroll accounting for 20 countries that spans over 340 employees in coordination with external payroll providers that oversees local payroll and compliance reporting, including outside employers of record related payments
• Ownership of global AP/AR functions, Concur expense management and several Global Corporate AMEX programs for all employees across various jurisdictions
• Responsible for all Technical accounting matters and accounting policy memos in close coordination with PWC
• Initially the first hire in the accounting department was after CFO and was responsible for the entire end to end build-out of the back office and new hires with a staff of 3 through current staff of 22.
VP Finance –Legal Entity Controller - Deutsche Bank, NYC/Jacksonville FL - Jan 2020 – Oct 2021
• Controller for NY Banking Branch and Cayman Islands Branch of Deutsche Bank AG. Both entities combined Balance Sheet size ~$200bb and regulated by either the Federal Reserve or CEMA and engages in a wide array of Investment Banking, Corporate Banking and Trading market making related activities in the capital markets space. Products range from traditional banking offerings through complex and structured derivative transactions geared in offering clients the ability to manage their risks and provide for liquidity.
• Manage a small team of 8 team members across US and India region. Report directly to head of US region Accounting and Finance and US CFO of Deutsche Bank. Businesses covered off include Derivative Rates, Credit Markets, Commodities, Commercial Real Estate, Global FX and Emerging Markets and Distressed Products Group.
• Main deliverables include a detailed month end analytics package with detailed write ups/commentaries around major Balance Sheet and Income Statement drivers (based on thresholds) that help explain to senior management business and macro/micro economic drivers that contribute to financial performance of Deutsche Bank NY and Cayman Islands branches.
• Oversight of IFRS deltas reporting, which are separately booked amounts in GL that overlay US GAAP results and allow for EUR IFRS Financial Statement. Our LEC team is responsible for ensuring all IFRS deltas are properly recorded, understood and synthesized for proper senior management monthly reporting.
• Oversight of HGB GAAP deltas reporting, which are separately booked amounts in GL that overlay US GAAP and IFRS results and allow for EUR HGB (German GAAP) Financial Statement. Our LEC team is responsible for ensuring all HGB deltas are properly recorded, understood and synthesized for proper senior management quarterly reporting.
• Responsible for all divestitures and dissolutions for any related legal entity that rolls up through either one of the main branches. This includes coordination and resolution of operational and all technical accounting items as well as ensuring the systems (GL, Subledgers, LE Database) all reflect accurate information. Directly responsible for booking all relevant standalone and consolidating journal entries for proper group reporting.
• Direct involvement and approvals for any new products/new entities changes that relate to either entity. Responsible for due diligence around any technical accounting implications (which at times involves working closely with the accounting policy group) as well as operational concerns that may be impacted by new products/businesses and/or changes to existing products/businesses.
• Responsible for oversight of month end close for US GAAP and IFRS Financials for both entities that produce consolidated financial statement (+stand alone for Reg Reporting) which also encapsulates > 50 subsidiaries across the US and Cayman region.
• Oversight of end-to-end control framework that encompasses balances sheet and P&L controls geared at identifying various issues that prohibit the ability to perform a streamlined close. Team is responsible for non-recurring/one off journal entries as needed to properly finalize financials for month end.
Vice President Finance –Product Control – Energy Markets Macquarie Energy, Houston, TX - Apr 2014 - Dec 2018
• Manage energy product control team that covers US Gas, US Power, Global Oil & Distillates, UK Power and Gas, Global Uranium, Global Coal trading desks with mandate of producing daily P&Ls for all trading desks.
• Production of Global Energy consolidated daily commercial P&Ls to trading desk heads and senior management along with detailed risk-based commentaries (new deals, optimization, actualization, delta, gamma, modifications, theta) covering off a wide range of physical and financial energy products in the OTC and cleared markets.
• Leverage ETRM Right Angle for Oil and Distillate trade level, curves, pricing, settlements, deal actions, actualizations understanding to help middle office produce accurate P&L and Risk reporting.
• Heavy daily interactions with trading desk around myriad of technical issues - understanding specific trading strategies, new deals and structures, flash to actual P&L variances and key drivers, emerging risks inherit in deal capture and valuation, trade bookings, deal life cycle events mismatch between trade capture system and G/L, price curves mismarking, pricing quotes delays, trade capture errors as well as system/IT related process deficiencies, IFRS Day 1 pricing/reserves, curve builds and pricing methodology, Interest Rate risk, FX risk and hedging.
• Production of detailed monthly commentaries around major P&L drivers for the month to senior management focusing on isolating large customer flow deals (notional, tenor, product types, margin, fees, reserves), main flat price and basis risks (time & product) and associated price movements along with commercial desk’s rationale for risk taking strategies, with linkage to market-based commentaries and macro P&L drivers.
• Manage month end accounting (G/L) profit and loss reporting tie out to economic P&L reported to desk throughout month, inclusive of month end swing factor reporting ensuring final desk P&L matches GL based P&L exclusive of ACVEC adjustments.
• Manage daily/monthly accounting to economic P&L calculations (ACVEC) to ensure accurate amounts of unallowable GAAP/IFRS P&L is properly reserved in central business units.
• Ownership of G/L postings, including all auto posting logic algorithms from trade capture and valuation system into G/L along with ownership around manual journal entries, while working within a 3-business day deadline to close the books for month end.
• Lead Operational Excellence Practitioner (OPEX) overseeing financial/product control best practices and adherence to internal product and financial control guidelines.
• Manage daily balance sheet and P&L mitigating controls that ensure P&L communicated to desks/senior management properly flow into GL, life-to-daily cash balances between trading system and GL match, Clearing broker position/open equity/total equity reconciliations, ensure proper trade capture reflected in financial results.
Sr Manager/VP Finance – Product and Risk Control World Fuel Services, Miami, FL - Apr 2010 - Mar 2014
• Managed in development of companywide Supply and Trading MVAR reporting process and managed day-to-day global management reporting function for consolidated P&Ls and Risk.
• Budgeting and forecasting for FP&A functions for Inventory business and led initiative around performing EVA (Estimate vs. Actual) variance analysis to understand key drivers.
• Mandated in rolling out global T+1 P&L and Risk reporting for all supply and trading businesses across all three major segments, including prop trading activities. Along with month end financial close responsibilities by leveraging Triple Point ETRM.
• Played primary role in leading transition of supply and trading activities from Allegro into Triple Point ETRM. Responsible for data migration, parallel phase, valuation alignment, data set up, exceptions monitoring, process redesign, change management & process streamlining.
• Designed and tested Dodd Frank Position Limit reporting process (PLR) and heavily assisted in other Dodd Frank initiatives.
• Design, build and maintain various Crude and distillate pricing curves within Triple Point to ensure accurate daily market prices for various crude and distillate trading books (Bakken Crude, Brent, WTI, BIO, RINs, etc…).
• Manage day-to-day operations of global middle and back office. Trade capture, confirmations, global settlements on Paper/Physical products, credit monitoring, margining, custodial reconciliations, pricing, Daily P&L and Risk reporting, P&L attribution, (Greeks) risk limit monitoring, Internal compliance monitoring by leverage capabilities from Allegro and Triple Point.
• Responsible and oversee global trade capture into new ETRM, with mandate to ensure the highest level of data integrity by designing various trade capture risk mitigating controls, aided by rule-based trade capture exceptions reporting.
• Developed/implemented/managed trade-capture & valuation system within excel for new Crude Oil trading activities. Eventually, led efforts to moving entire Crude by Rail business into Triple Point and discontinued manual excel based processes.
• Led integration-based project initiatives that encompass transitioning newly acquired companies back office/middle office operations into corporate risk control models, which involves process redesign, change management and training. Currently leading business in integration of new natural gas supply and trading acquisition into corporate risk framework
Associate Director –Product Control - LATAM Derivatives - Barclay’s Capital, New York, NY Jan 2007 - Dec 2008
• Manage Emerging Market Interest Rate and FX derivatives department, financial reporting, month end accounting close, journal entries, Balance Sheet substantiation, Fair Value Reporting, Sarbanes Oxley related protocols, management reporting, reserves, price testing, intercompany tie outs, publishing yield curves and closing rates.
• Manage Emerging Markets Interest Rate business line, consisting of six staff. Oversee production of daily P&L for entire trading desk (including Greeks) which had 25 traders. Products include cash, Energy and Agricultural Commodities, FX, NDF and interest rate derivatives, LATAM inflation linked products, structured deals involving any combination of offered products. Manage department budget, staffing levels, staffing decisions.
• Manage Emerging Markets middle office operations staff embedded within PCG group (2 direct reports), manage complex trade bookings, cash settlements, resets, structured deal analysis, trade settlements, exotics reserves calculations, option expiries, non-deliverable currency conversions, FX hedges, risk analytics.
• Primary driver for establishing infrastructure support for all new business initiatives by liaising with operations, front office, tax, legal, compliance, audit and other PCG areas.
• CO-Manage EM IT pipeline that consists of all open IT initiatives and deliverables from the technology front that either enhances current infrastructure or facilitates organic growth with new products.
• Oversight of Brazil and Mexico offices product control with dotted line responsibilities over their month end close, management reporting, maintaining proper staffing levels, daily P&L support and new business support
Product Control – Muni Derivatives - Lehman Brothers, New York, NY Jan 2004 – Jan 2007
• Controller for Municipal derivative business within FID umbrella that engages in highly structured and customized derivative transactions geared towards municipal customers. Products include swaps, swaptions, caps, floors, cash debt instruments, FX forwards, and direct equity participation.
• Perform Daily P&L, month end closings, daily reporting, new deal analysis, daily cash analysis of all derivative flows.
• Daily risk metrics analysis performed for trading desk that is used as the source of gauging all market risk used for trading purposes and macro hedging. Daily risk prepared before the open of market and is used by entire desk as benchmark for quantifying exposure to market risk variables
Education, Skills and Achievements
MBA - Baruch College- Zicklin School of Business, New York (honors)
BS - Long Island University, New York – C.W. Post (honors)
Certifications:
Certified Public Accountant
Florida # AC54045 (95% grade)
QuickBooks Advanced
IFRS/US GAAP
NetSuite Implementation
Floqast Implementation
International Team Management
Energy Derivatives
Fixed Income Derivatives
Commodity Derivatives
English, Portuguese and Spanish
Advanced Excel
International Consolidation
Managing Audits
Team Build Out
Start Up
Fintech
Managing Lean Teams
Transfer Pricing
Controls Design and Implemenation
Hedge Accounting
Author:
Making Bank – The Financial Lessons they never taught us in School – 2010
C.W. Post Division 1 Baseball Scholarship, Basketball
Long Island Sun Devils MSBL - 1999 - 2024