SUMMARY:

Financial Executive with a progressive career in the securities and trading industries. Highly detail - oriented with a reputation of ensuring total accuracy in all reports and documentation. Offer a strong, self-motivated work ethic and results-focused mindset.

EXPERTISE AREA:

GAAP Accounting, SEC Reporting, Corporate Budgeting and Forecasting, Cash and Credit Management.

TECHNICAL SKILLS:

Windows OS, Microsoft Word, Excel (Pivot tables and V lookups), D-Base, Sap Crystal Reports, QuickBooks, ADP, FRX Reporting, Winteam, Sage 100, Acuity, Sage500, Vendor Liaison.

PROFESSIONAL EXPERIENCE:

Confidential 

Controller / Executive Vice President 

Responsibilities:

• Processed month end closing and all related journal entries, including: securities, cash, commissions, prepaid, currency exchange for London office, payroll, clearing, registrations, depreciation and amortization, chargebacks, accruals and other adjustments.
• Performed daily/monthly reconciliation of cash management, bank accounts, trading accounts and commission accounts.
• All entries were created in excel and imported to Sage500 for posting to the general ledger through delimited format to insure month end closes on a timely basis.
• Strong understanding of the P&L statement as well as strength in financial modeling, accounting, pricing and negotiations with vendors for additional cost savings.
• Established a standard product costing system using the accounting system natural accounts capable of providing reporting for various banking deals to provide a profit and loss statement to control the costs associated with the deals.
• Profit & Loss analysis on fixed costs and variable costs to explain monthly fluctuations and extra ordinary expenses.
• Perform cash projections to effectively manage cash balances and maximize the return.
• Budget and forecasting incorporating historical results and future assumptions.
• Analyzed back office activities (clearing firm statement) to insure all activity fees which include inactive fees, postage & handling fees, margin interest and others to insure transactions are accurate.
• Worked hand in hand with the human resource department to adhere to all labor laws that apply to W2 and 1099 employees and independent contractors and oversee 401k plan to ensure proper legal compliance.
• Worked with legal counsel to manage hourly logs to control legal costs and book necessary legal contingencies under ASC 450 for X-17A-5 under 15c3-1.
• Prepared contractual agreements between firm and sales representatives and halp recruit potential reps to explain the financial aspects of the contract which include: accelerated payouts, ticket charges, E&O, processing costs etc.
• Recruited, managed and developed staff members building a strong work environment with finance team, and management.
• Responsible for coordinating the annual audited financial statements with external auditors and providing: the final year end expense accruals, revenue accruals and write-offs to prepare for year-end audit with outside auditors.
• Documented walkthroughs (flow charts) on all departments including: accounts payable, operations and general ledger to insure proper internal controls.
• Briefed senior management to discuss financial statements before filing the focus report to insure internal controls.
• Overall responsibility for budget preparation and monitoring, working with departments and business leaders, preparing and implementing the firm’s budget inclusive of revenues and expenses.
• Maintained the commission payout program, including monthly maintenance, commission adjustments, preparation of statements and finally review with all sales representatives for final approval for submission to the payroll department for processing.
• Drafted and reviewed required schedules for income statements and balance sheet reconciliations.
• Managed a staff of 3 which included the accounts payable manager, the payroll manager and the human resource manager.
• Reconciled intercompany balances to insure accurate expense allocations between the parent company and its affiliates.
• Developed and maintained technical accounting policies in accordance with GAAP and SOX.
• Ultimate responsibility for oversight and ensuring the integrity, timeless, transparency and legal regulatory compliance regarding all financial functions.
• Maintained strong relationship with key regulatory agencies, auditors and financial institutions which include the clearing firm and banks.
• Followed up on inquiries from FINRA and SEC representatives on questions concerning net capital computation of allowable and non-allowable assets.
• Performed a moment to moment net capital computation for overnight syndicate deals which included underwritings, IPO’s to assure the firm is in net capital requirement under 15c3-1.
• Lead all regulatory audits with FINRA and the SEC for US offices and London branch with the FCA.
• Spearheaded the end of year independent audit with outside auditors to comply with all GAAP and regulatory regulation to focus filing X-17A-5, SIS, Custody, SSOI and year end Schedule 1 so that the independent auditors sign off on the year end audited financials to mail to all states required under FINRA and SEC rules.
• Filed all regulatory forms with FINRA and the SEC under 15c3-1 which includes forms X-17A-5, SIS, Custody, SSOI and year end Schedule 1 and prepare SIPC 6 for first half of the year and SIPC 7 for year end.
• Calculated monthly net capital computation which includes: Analyzing all allowable and non-allowable assets for accuracy, liabilities for aggregate indebtedness or non-aggregate indebtedness. Calculating all required haircuts with or without undue concentrations if necessary and perform net capital calculation to make sure firm is adhering with capital requirements under 15c3-1 focus filing X-17A-5.

Confidential 

Controller/Staff Accountant/Payroll Manager/Accounts Payable Manager

Responsibilities:

• Processed journal entries, including depreciation, amortization, chargebacks, escrow accounts, trading, adjustments, unsecured debts, reclassified accounts and accruals
• Responsible for yearend close, 1099’s, yearend back up for audits and year end accrual expenses
• Reviewed accounts payable and receivable accounting entries; reviewed invoices and accounts payable cutoff and completion