Accounting Manager Financial

CARMEN PALENSKE, CPA

*** ****** **** *****, *** Jose, CA 95123 408-***-**** ********@*******.***

BS Accounting – San Jose State University, August 1989 CPA license granted – January 1995

APRIL 2011 – CURRENT PALENSKE POWERSPORTS AND BENDING THE LIGHT, SAN JOSE, CA

Principal

Set up, start up and participate, in two new businesses, one with my husband and son, and one for myself. Palenske Powersports buys,

restores or renovates, and sells, various power sport vehicles. For Bending the Light, I hand craft and sell prism (sun catcher) chains and

various other items made using Swarovski prisms and crystals.

JANUARY 2010 –APRIL 2011 SMALL BUSINESS CAPITAL CORP., LOS ALTOS, CA

Corporate Controller

Two publicly audited investment funds, one subsidiary and the corporate managing entity of a commercial real estate lending and newly

approved SBA lending company. The entities experienced high growth in 2010, both in assets, capabilities and number of employees.

• Reconciled accounting software and investor/lending database and prepared financials for tax accountants, to file five years

of corporate tax returns in one year.

• Used various accounting techniques (including forensic) to determine and post many transactions and reconcile Oct 2006

forward for corporate entity including stockholder’s basis accounts.

• Reconciled investor transaction database to audited financial statements for Oct 2006 forward.

• Set up processes and procedures for corporate transactions and investor/lending transaction database. Restructured Chart of

Accounts. Set up new entity to account for Small Business Administration loan transactions and requirements.

• Ensured auditor and outside reporting requirements were met and prepared timely. Re-filed a number of incorrectly filed

reports to the Department of Real Estate.

• Current year reconciliations and documentation enabled the company to improve from being the last audit of the year to

being scheduled the first audit of the next year.

• One of two people handling investor relations and correspondence and posting, of investor and lending transactions.

• Responsible for payroll and human resources, accounts payable, general ledger, and financial reporting and analysis.

MARCH 2008 – DECEMBER 2009 BELLAVISTA CAPITAL INC., LOS GATOS, CA

Corporate Controller

Publicly reported and audited, commercial and residential real estate investment, lending and development company during a highly

transitional period. The Company had 489 shareholders, four consolidated entities and over $36 million in assets. Working with the

President of Cupertino Capital, responsible for:

• Compilation and preparation of 10Q and 10K SEC reporting, including MD&A, consolidated financial reports and other

governmental required reports and filings.

• Tax return schedules preparation and tax return review.

• Monthly Board of Director reporting packages including budget compilations, calculations and analysis reports.

• Set up on accounting software of three additional new entities.

• Initial set up and monthly maintenance of reconciliations, analysis and consolidation procedures for all four entities.

• Transaction posting and reconciliation of Shareholder database. Investor/shareholder relations and correspondence.

• Accounts payable and receivable transactions, including Construction in Process and construction lending requirements

compliance.

• Involved in all phases of auction of completed real estate projects and preparation of analysis reports.

AUGUST 2006 – NOVEMBER 2007 SVB FINANCIAL GROUP, SANTA CLARA, CA

Senior Regulatory Reporting Analyst

Parent Company of Silicon Valley Bank. Financial services entities offering financial products and services including commercial,

investment, merchant and private banking and private equity services. SVB serves over 10,000 clients with 28 domestic offices and three

international subsidiaries. With one other person:

• Prepared and filed weekly, quarterly and annual, financial regulatory reports, as required by the Federal Reserve Board

and other governmental agencies by the required dead-lines. Prepared SOX documentation.

• Preparation and review with CFO and Director of External reporting, analysis reports on most of the filed reports.

• Evaluation and analysis of reporting compliance requirements and reporting effects of new business initiatives.

• Maintained supporting documentation of all reports, analysis and compliance research.

• Respond quickly to the Federal regulatory reporting authorities, internal and external auditor requests.

• Procedure analysis, development, and documentation.

• Participated in software set-up and transition to automated reporting.

MARCH 2000 – JULY 2006 PEERY/ARRILLAGA, SANTA CLARA, CA

Accounting Special Projects

Commercial leasing and property management company consisting of at least eight million square feet of commercial property and

various related businesses that comprised over forty entities.

• ERP software set-up, implementation, report writing, maintenance and trouble shoot assistance.

• General ledger reconciliations, month-end closings and financial reporting and analysis, of multiple entities.

• Tax return schedule preparation and tax return reviews of multiple entities.

• Lease and lease amendment analysis to determine accounting implications and tenant’s initial billings.

• Tenant lease audits, common area reconciliation’s billed to tenants.

• Accounting procedure analysis, development, and documentation. New property accountant employee training.

• Organized, designed, documented and maintained extensive investment portfolio information reports.

• Fixed Asset implementation and report writing on FAS software.

• Determination and set-up of owners’ personal financial statements for reporting and analysis.

APRIL 1998 - FEBRUARY 2000 MARCUS & MILLICHAP COMPANY, PALO ALTO, CA

Corporate Assistant Controller

The largest investment real estate brokerage firm in the United States with offices in 34 cities, over one billion in net revenue, and more

than 1,500 employees. Part of core management of a twelve person corporate accounting team producing financial statements for as

many as ten related entities, one of which was a construction entity.

• Project manager for selection of new enterprise wide, Tier I, full accounting software.

• Co-Project manager for data conversion and implementation of new accounting software, including report

writing and database integration.

• Supervised and trained accounting department employees for both accounting functions and new software

implementation. Initially on Oracle software, then switched to a second ERP software.

• Fully responsible for Chart of Accounts re-structuring and mapping of five entities for consolidations.

• Fully responsible for set-up, conversion and implementation of fixed assets for five entities.

• Developed, implemented and monitored, compliance and audit procedures for brokerage offices.

• Identified, evaluated and investigated fraud symptoms and designed appropriate detection procedures.

• Participated in the budget process, including forecasts and financial projections for divisional, regional and

local offices, as well as corporate.

• Handled audit engagement, prepared and analyzed audit and tax return schedules.

JUNE 1996 - JANUARY 1998 HOPKINS & CARLEY, A LAW CORPORATION, SAN JOSE, CA

Controller/401(k) Plan Administrator

A full service law firm with close to 100 personnel, including more than 40 attorneys, with over 10 million in annual revenue. Direct

supervision of a six person accounting department and preparation of monthly financial statements and statistical reports.

• Fully responsible for data conversion and implementation of full accounting software. (Specialized for a Law

firm). Converted G/L and A/R. Set-up and implementation training of attorney billing system.

• Co-responsible for budgeting, finance and leasing arrangements, shareholder compensation structure.

• Prepared quarterly cash to accrual basis financial reports for outside parties.

• Bank contact person, managed short-term cash flow and prepared cash flow forecasts.

• Modified, designed and implemented policies and procedures. Hired and trained accounting staff.

• Handled Review engagement and prepared and analyzed review and tax return schedules.

• Handled various audits by tax authorities (IRS, DOL, EDD, etc)

• Responsible for the 401(k) Plan Administration (with an outside firm), and the merger of two plans.

NOVEMBER 1992 - MAY 1996 BROOKS, STEDNITZ & RHODES ACCOUNTANCY, SAN JOSE, CA

Senior Accountant

Full service Regional CPA firm. Extensive client contact and job autonomy, including the supervision of others.

• Tax return preparation included: personal, partnership, fiduciary, S and C Corporations, non-profit, ERISA,

payroll, property and sales tax. Contact with tax authorities when required.

• Planning, execution and reporting of operational, internal, ERISA and non-profit audits, reviews and

compilations for various types of entities. Some included consolidations and intercompany transactions.

• Financial statement preparation, including full disclosure statements.

• Business consulting, client computer implementations and preparation of management advice letters.

• Preparation and presentation of tax training seminars.

• Fixed Asset set-up on and maintenance for clients on BNA (later FAS) software.

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