Vice President of Finance
Equity Bank
Total years of experience :24 years, 6 Months
Direct the implementation of corporate financial accounting and general ledger activities in order to ensure accurate measurement and recording of financial transactions so that accurate accounting information can be provided to assist management decision-making. Saved the Bank at least $1 million over three years by renegotiating several contracts and employed cost containment strategies.
• Prepare monthly legal lending limit and capital calculations for the regulators and the Board of Directors.
• Prepare quarterly regulatory reports.
• Prepare quarterly Allowances for Loan Losses (ALLL) reports.
• Buying/Sell government securities (US Agencies, CMO and MBS).
• Maintain Fixed Assets, Accruals and Prepaid.
• Prepare daily GL entries, close Month End & Quarter End.
• Monitor due from banks & ATM.
• Supervised Payroll Process, Accounts Payable and Accounts Receivable.
• Accountable for the development and coordination of the bank’s internal auditing activities.
• Supervised and conducted independent audits of bank records and activities, and prepared varied analysis of the departments, and branches for management.
• Investigated and determined causes of irregularities, and errors.
Assisting in setting up accounting functions for Local Small Business. Developed and managed external financial relationships (e.g., banks, insurers, IRS). Performed A/P functions and set up inventory control procedures. Trained owner’s in best accounting practices and procedures to have up to date record keeping.
Responsibilities:
• Successfully managed Purchasing, Inventory and warehouse operations through development of new methodologies for procurement and inventory management of all raw, manufactured and purchased materials.
• Continually worked closely with all departments, vendors and suppliers to reduce costs, increase efficiency and profitability through negotiating new transportation, and supplier contracts and pricing agreements.
• Aided in the selection, testing and successful implementation and training of the company’s Software package while designing all warehouse and stock areas for maximum efficiency, asset protection and inventory management.
• Prepare quarterly State Regulatory Reports.
Responsible for all financial activities of the bank and holding company, including internal management reports, external regulatory reporting, and balance sheet management. Supervised daily work and monitor cost control activities and implement cost control strategies. Saved the Bank at least $3.5 million over the past several years by renegotiating several contracts and employed cost containment strategies.
Managed the following functions:
• Supervised Accounts Payable, Accounts Receivable and Payroll Process.
• Reconcile the entire General Ledger, due from banks & ATM.
• Prepare monthly legal lending limit and capital calculations for the regulators and the Board of Directors.
• Preparation of annual budget and tax-related reports.
• Prepare quarterly regulatory reports (TFR, CMR & COF) for the bank and holding company.
• Make out daily Liquidity Position (Fed Funds Sold/Purchase)
• Maintain Fixed Assets and Depreciation.
• Prepare quarterly Allowances for Loan Losses (ALLL) reports.
• Purchase/Sell government securities (US Agencies).
• Combined the activities of the various functional areas of the business to achieve organizational objectives.
• Accountable for the development and coordination of the bank’s internal auditing activities.
• Supervised and conducted independent audits of bank records and activities, and prepared varied analysis of the departments, and branches for management.
• Investigated and determined causes of irregularities, and errors.
Managed day-to-day accounting activities, including funds flows, payable and receivables, correspondent relationships and payroll, supervise daily work and monitor cost control activities and implement cost control strategies, also responsible for financial analysis, cash management and forecasting. Saved the Bank $12 million by clearing numerous outstanding items that were to be charged off and creating new procedures for balancing the due from accounts; supervised the following accounting functions:
• Maintain Incoming/Outgoing Wire & prepare FRB 2900 reports.
• Reconcile entire General Ledger, due from banks & ATM.
• Managed Payroll Process, Accounts Payable and Accounts Receivable.
• Maintain Fixed Assets and Depreciation.
• Managed Bank Interest Rate Risk.
Responsible for day-to-day accounting activities, including credit and collections, billings, cash flow analysis and financial project reviews. Supervise the following accounting functions:
• Fund Management
• Letter of Credit Financing against Imports
• Control of Foreign Currency Accounts
• Bank Reconciliation/ Leasing
• Price Circulars / Pricing
• Cash Flows-Sales Reconciliation
• Accounts Receivable/Payable
Member of the purchasing committee, and to assist in product development to ensure customer satisfaction and financial institution profitability recommends up grades, elimination or future development of under-performing products and development or introduction of new products.