Finance Manager
Content
ROBERT S. EASTON III 506 Rolling Brook Lane * Cedar Park, TX 78613 * Cell: (512) 809 2388 [email protected] ACCOMPLISHED FINANCE MANAGER Self-motivated Finance manager with proven ability to organize, lead, and execut e in a fast paced environment. Over five years of experience applying Statutory Accounting Principles with the largest property/liability insurer in the United States. Positions have demanded effective combination of superior analytical, interpersonal, and leadership skills to generate accurate and timely financial s tatements in full compliance with all internal and external regulations. PROFESSIONAL EXPERIENCE STATE FARM INSURANCE COMPANIES 2005 - Current
Treasury Supervisor: February 2010 - Current Responsibilities * Manage staff of 13 tenured Finance Technicians accounting for over $16 million in miscellaneous premium receipts and over $261 million in total cash disbursem ents per month related to over 5.2 million auto, fire, life, and health insuranc e policies in our Texas Zone. * Responsible for monthly management approval of 446 ledger account reconciliati ons involving 5 affiliate companies and 2 regional offices. o Accounting for cash movement related to premium receipts transactions from ini tial deposit clearing accounts to affiliate investment custody accounts. o Accounting for cash disbursed payments from affiliate investment custody accou nts to redemption by insureds/claimants. o Balancing payable/receivable accounts and corresponding cash settlements betwe en affiliates and regional offices. o Clearing suspense account listings and balancing to ledger: ensuring all premi um is applied to policy master records and all subrogation proceeds/recoveries a re applied to claim files. o Balancing statistical premium and loss records to various ledger accounts to e nsure accurate recording of unearned premium and loss reserves. * Responsible for maintaining Tax Identification Number database (TIN) for vendo rs' payments to periodically match IRS records and send W-9 & 1099 notices in co mpliance with IRS regulations. Significant Business Results * Led turnaround of underachieving business unit/function o Selected to lead merger of underperforming Banking & Cash Disbursed teams into one cohesive Treasury unit. o Developed synergies with integrated cross training grid, resulting in improved productivity/capacity utilization and ultimately staff reduction. o Resolved significant interpersonal conflict and attendance issues. * Led strategic business initiatives o Developed and piloted innovative electronic draft issuance process making majo r Teller Positive Pay change to encashment platform seamless to Agents/Policyhol ders. Success with Texas pilot led to a companywide implementation. o Redesigned draft inventory database for better compliance & efficiency. o Replaced paper suspense follow-up with new automated system using Excel macros . o Led stored value card project to improve catastrophe encashment options. Cash Disbursed Business Analyst: May 2007 - January 2010
Responsibilities * Served as primary Business Analyst providing final level support for companywi de cash disbursed database and ledger for 13 zone office Finance Departments emp loying over 480 associates. o Regularly leveraged superior technical skills to resolve complex out of balanc e situations between listings, ledger, and statistical loss/premium records trac king over 2.1 million individual payments per month from issuance (check/draft, EFT, stored value card) to closure (redemption by payee or escheat to state). o Provided final level support for companywide compliance with unclaimed propert y statutes. * Responsible for writing and maintaining accounting operating procedures to ens ure ongoing compliance with internal best practices and external regulations. * Communicated complex accounting requirements to System Analysts to develop new business functionality and finance applications. Significant Business Results * Identified and/or implemented process improvements o Identified and resolved intricate cash reporting compliance concerns with ledg er/bank account configurations related to cash settlement and journalization of inter-company transfers. o Contributed to expense reduction by identifying multiple bank accounts eligibl e for closure. * Ensured compliance with regulatory mandates o Served as chairperson of catastrophe committee responsible for coordinating co mpanywide compliance with DOI directives mandating temporary suspension of billi ng/cancellations during catastrophes. Audit/Cash Management Supervisor: May 2005 - April 2007 Responsibilities * Administered regular audit program for over 900 Agent premium fund accounts (P FA). Involved in multiple integrity investigations and defalcations. Developed and administered PFA class for Agency Interns. * Managed staff of 8 tenured Finance Technicians accounting for over $10 million in miscellaneous premium receipts per month related to over 3.1 million auto an d fire insurance policies for our Great Lakes Zone. o Led transition from manual check encoding and courier pick-up to automated Rem ote Deposit Capture technology compliant with Check 21 legislation. * Responsible for monthly management approval of 253 ledger account reconciliati ons involving 3 affiliate companies and 3 regional offices. o Accounting for cash movement related to premium receipts transactions from ini tial deposit clearing accounts to affiliate investment custody accounts. o Balancing payable/receivable accounts and corresponding cash settlements betwe en affiliates and regional offices. o Clearing suspense account listings and balancing to ledger: ensuring all premi um is applied to policy master records and all subrogation proceeds/recoveries a re applied to claim files. o Balancing statistical premium and loss records to various ledger accounts to e nsure accurate recording of unearned premium and loss reserves. Significant Business Results * Integrated company goals into business practices o Developed and implemented Finance scorecard tying employee performance ratings to key Finance metrics under their control, resulting in measurable improvement s to the following company results over a 18 month period: * Reduced outstanding suspense account items requiring review by 77%. * Reduced bank pending items by 63%. * Reduced repeat significant audit findings by 25%. * Reduced paid not issued records by 23%. * Led restructure/realignment of business/function o Managed unit through significant transition including office closing and migra
tion of transactional job duties to centralized processing locations. o Maintained high Employee Opinion Survey results and productivity with focus on cross training/stretch assignments resulting in replacement of transactional ac tivities with higher value analysis work. * Implemented compliance enhancements o Defined and validated key controls capable of impacting the integrity of finan cial statements. o Performed self-assessment testing on key controls and documented issues/result s prior to sub-certification and executive certification. o Worked with underwriting, claims, and legal departments on sensitive issues in volved in compiling annual zone compliance plans and reports for upper managemen t. EDUCATION * Chartered Financial Consultant (ChFC) Designation. The American College, Bryn Mawr, PA. Graduation date: September 1, 2008. * MBA - Finance Major, GPA: 4.0/4.0. Bradley University Graduate School, Peoria, IL. Graduation date: May 14, 2005. * B.S. in Business Administration - Marketing Major, GPA: 4.0/4.0. Bradley Unive rsity, Peoria, IL. Graduation date: May 17, 2003. TECHNOLOGY SKILLS * Highly proficient with all Microsoft Office applications including Excel, Acce ss, Word, Outlook, PowerPoint, and SharePoint. Expert at managing massive amoun ts of data with Microsoft Excel and Access. * Over 5 years of experience with Oracle's PeopleSoft Enterprise Applications in cluding General Ledger and Accounts Payable. * Experienced with basic Standard Query Language (SQL) and Visual Basic programm ing. OTHER EXPERIENCE * Bradley University Graduate Assistant, 2003-2005: Competitively based Graduat e Assistantship/Scholarship position. Activities included business and financial research, teaching assistance, coordination of class activities, and online rec ord management. * Assistant Business Consultant, 2003-2005: Dr. Aaron Buchko, PhD., Bradley Univ ersity. Activities included business research and analysis, survey development and administration, strategic business planning, and providing recommendations t o clients in written and oral presentation. * Personal Portfolio Manager, 1998-Current: Owner and manager of high net worth online securities portfolio. Activities include investment strategy development , security screening and analysis, diversification and risk assessment, purchase and sale of securities, and cash management. (1998-2004 annualized rate of retu rn: 22.38%). * Sole Proprietorship, Owner, 1998-2004: Landlord and manager of rental propert y business Activities included assessing real estate investment opportunities, tenant screening, negotiating and enforcing lease contracts with private indivi duals and government organizations (HUD), and conducting maintenance and improve ments on properties. * Personnel Manager, 1991-2005: Michael and Harriet Rucker, Peoria, IL. Initiall y hired as a general caretaker for invalid with Multiple Sclerosis. Position res ponsibilities escalated to include comprehensive homemaking activities, personne l management, and financial affairs management.
Treasury Supervisor: February 2010 - Current Responsibilities * Manage staff of 13 tenured Finance Technicians accounting for over $16 million in miscellaneous premium receipts and over $261 million in total cash disbursem ents per month related to over 5.2 million auto, fire, life, and health insuranc e policies in our Texas Zone. * Responsible for monthly management approval of 446 ledger account reconciliati ons involving 5 affiliate companies and 2 regional offices. o Accounting for cash movement related to premium receipts transactions from ini tial deposit clearing accounts to affiliate investment custody accounts. o Accounting for cash disbursed payments from affiliate investment custody accou nts to redemption by insureds/claimants. o Balancing payable/receivable accounts and corresponding cash settlements betwe en affiliates and regional offices. o Clearing suspense account listings and balancing to ledger: ensuring all premi um is applied to policy master records and all subrogation proceeds/recoveries a re applied to claim files. o Balancing statistical premium and loss records to various ledger accounts to e nsure accurate recording of unearned premium and loss reserves. * Responsible for maintaining Tax Identification Number database (TIN) for vendo rs' payments to periodically match IRS records and send W-9 & 1099 notices in co mpliance with IRS regulations. Significant Business Results * Led turnaround of underachieving business unit/function o Selected to lead merger of underperforming Banking & Cash Disbursed teams into one cohesive Treasury unit. o Developed synergies with integrated cross training grid, resulting in improved productivity/capacity utilization and ultimately staff reduction. o Resolved significant interpersonal conflict and attendance issues. * Led strategic business initiatives o Developed and piloted innovative electronic draft issuance process making majo r Teller Positive Pay change to encashment platform seamless to Agents/Policyhol ders. Success with Texas pilot led to a companywide implementation. o Redesigned draft inventory database for better compliance & efficiency. o Replaced paper suspense follow-up with new automated system using Excel macros . o Led stored value card project to improve catastrophe encashment options. Cash Disbursed Business Analyst: May 2007 - January 2010
Responsibilities * Served as primary Business Analyst providing final level support for companywi de cash disbursed database and ledger for 13 zone office Finance Departments emp loying over 480 associates. o Regularly leveraged superior technical skills to resolve complex out of balanc e situations between listings, ledger, and statistical loss/premium records trac king over 2.1 million individual payments per month from issuance (check/draft, EFT, stored value card) to closure (redemption by payee or escheat to state). o Provided final level support for companywide compliance with unclaimed propert y statutes. * Responsible for writing and maintaining accounting operating procedures to ens ure ongoing compliance with internal best practices and external regulations. * Communicated complex accounting requirements to System Analysts to develop new business functionality and finance applications. Significant Business Results * Identified and/or implemented process improvements o Identified and resolved intricate cash reporting compliance concerns with ledg er/bank account configurations related to cash settlement and journalization of inter-company transfers. o Contributed to expense reduction by identifying multiple bank accounts eligibl e for closure. * Ensured compliance with regulatory mandates o Served as chairperson of catastrophe committee responsible for coordinating co mpanywide compliance with DOI directives mandating temporary suspension of billi ng/cancellations during catastrophes. Audit/Cash Management Supervisor: May 2005 - April 2007 Responsibilities * Administered regular audit program for over 900 Agent premium fund accounts (P FA). Involved in multiple integrity investigations and defalcations. Developed and administered PFA class for Agency Interns. * Managed staff of 8 tenured Finance Technicians accounting for over $10 million in miscellaneous premium receipts per month related to over 3.1 million auto an d fire insurance policies for our Great Lakes Zone. o Led transition from manual check encoding and courier pick-up to automated Rem ote Deposit Capture technology compliant with Check 21 legislation. * Responsible for monthly management approval of 253 ledger account reconciliati ons involving 3 affiliate companies and 3 regional offices. o Accounting for cash movement related to premium receipts transactions from ini tial deposit clearing accounts to affiliate investment custody accounts. o Balancing payable/receivable accounts and corresponding cash settlements betwe en affiliates and regional offices. o Clearing suspense account listings and balancing to ledger: ensuring all premi um is applied to policy master records and all subrogation proceeds/recoveries a re applied to claim files. o Balancing statistical premium and loss records to various ledger accounts to e nsure accurate recording of unearned premium and loss reserves. Significant Business Results * Integrated company goals into business practices o Developed and implemented Finance scorecard tying employee performance ratings to key Finance metrics under their control, resulting in measurable improvement s to the following company results over a 18 month period: * Reduced outstanding suspense account items requiring review by 77%. * Reduced bank pending items by 63%. * Reduced repeat significant audit findings by 25%. * Reduced paid not issued records by 23%. * Led restructure/realignment of business/function o Managed unit through significant transition including office closing and migra
tion of transactional job duties to centralized processing locations. o Maintained high Employee Opinion Survey results and productivity with focus on cross training/stretch assignments resulting in replacement of transactional ac tivities with higher value analysis work. * Implemented compliance enhancements o Defined and validated key controls capable of impacting the integrity of finan cial statements. o Performed self-assessment testing on key controls and documented issues/result s prior to sub-certification and executive certification. o Worked with underwriting, claims, and legal departments on sensitive issues in volved in compiling annual zone compliance plans and reports for upper managemen t. EDUCATION * Chartered Financial Consultant (ChFC) Designation. The American College, Bryn Mawr, PA. Graduation date: September 1, 2008. * MBA - Finance Major, GPA: 4.0/4.0. Bradley University Graduate School, Peoria, IL. Graduation date: May 14, 2005. * B.S. in Business Administration - Marketing Major, GPA: 4.0/4.0. Bradley Unive rsity, Peoria, IL. Graduation date: May 17, 2003. TECHNOLOGY SKILLS * Highly proficient with all Microsoft Office applications including Excel, Acce ss, Word, Outlook, PowerPoint, and SharePoint. Expert at managing massive amoun ts of data with Microsoft Excel and Access. * Over 5 years of experience with Oracle's PeopleSoft Enterprise Applications in cluding General Ledger and Accounts Payable. * Experienced with basic Standard Query Language (SQL) and Visual Basic programm ing. OTHER EXPERIENCE * Bradley University Graduate Assistant, 2003-2005: Competitively based Graduat e Assistantship/Scholarship position. Activities included business and financial research, teaching assistance, coordination of class activities, and online rec ord management. * Assistant Business Consultant, 2003-2005: Dr. Aaron Buchko, PhD., Bradley Univ ersity. Activities included business research and analysis, survey development and administration, strategic business planning, and providing recommendations t o clients in written and oral presentation. * Personal Portfolio Manager, 1998-Current: Owner and manager of high net worth online securities portfolio. Activities include investment strategy development , security screening and analysis, diversification and risk assessment, purchase and sale of securities, and cash management. (1998-2004 annualized rate of retu rn: 22.38%). * Sole Proprietorship, Owner, 1998-2004: Landlord and manager of rental propert y business Activities included assessing real estate investment opportunities, tenant screening, negotiating and enforcing lease contracts with private indivi duals and government organizations (HUD), and conducting maintenance and improve ments on properties. * Personnel Manager, 1991-2005: Michael and Harriet Rucker, Peoria, IL. Initiall y hired as a general caretaker for invalid with Multiple Sclerosis. Position res ponsibilities escalated to include comprehensive homemaking activities, personne l management, and financial affairs management.
