Insurance Accounting

David A. Skup, CPA

Senior Finance and Operations Executive

*** ********* ***** ********* ****, MI 48390 Tel: 734-***-**** Fax: 248-***-****

******@*******.***

Qualification Summary

An innovative and energetic leader, skilled communicator/team builder with previous experience as Controller/CFO, Chief

Operating Officer and VP-Internal Audit. Recognized for broad strengths in finance and accounting management, with a

record of success in enhancing shareholder value through consummating transactions for organizations undergoing rapid

change and experiencing increasing competitive pressures. Proven ability to use strong analytical, planning, and

organizational skills in development and implementation of innovative solutions to complex financial challenges and

business problems. Highly proficient at negotiating agreements and developing partnerships. Published financial author.

Core Competencies

Finance and Accounting Management Start Up Entity Experience

Operations Management Contract Negotiation

Treasury/Investment Management Strategic Planning

IPOs Budget Controls & Variance Analysis

GAAP/SEC Debt/Equity Capital Raising

Big 4 Experience Accounting/IT systems Best Practices

Fortune 500 Experience Leadership and Teambuilding

Career Background

Controller/CFO 2005-

2009

American Community Mutual Insurance Company, Livonia, MI.

Health insurance company licensed in 40 states.

Responsible for all financial reporting, accounting, investment, tax, agent administration, policy administration, and

building services functions of the Company and its direct marketing subsidiary, including relationships with lenders,

auditing, budgeting, internal and external reporting, all investment functions, and agent licensing and compliance. Oversee

all financial relationships, including rating agencies, external auditors and internal audit outsourcer.

Major Accomplishments:

Obtained $30 million of additional capital through two surplus note debt offerings.

Established subsidiary holding company system designed to market products through the internet.

Secured improved A.M. Best financial rating of B+ (Secure).

Reduced administrative overhead expense by 24% over a two-year period.

Implemented total electronic policy administration from receipt of application to policy issuance.

Senior Vice President and Chief Operating Officer 2001-2005

Aon Service Center, Fort Wayne, IN.

Service Center providing backroom (accounting, financial reporting, information technology and project

management) services to Aon Corporation’s marketing and distribution network - safety/loss control

consultants, insurance providers and MGA sales network - throughout the world.

Responsible for day to day operations of the Service Center, including direct supervision of the accounting, training,

Sarbanes-Oxley, and audit and quality control units. Oversee legal and compliance, including forms production, consumer

complaint resolution, and system training.

David A. Skup, CPA

Senior Finance and Operations Executive Page 2

Major Accomplishments:

Member of executive team providing direct support for administering/processing $700 million in premium.

Key member of winning proposal team for a 1/3 share in administering/processing the State of Illinois’ and the District

of Columbia’s assigned risk workers compensation pools ($180 million in annualized premium).

Achieved significant operational expense savings through the successful migration of ten standalone company

accounting and IT system backroom operations to a common platform, selecting best practices from each entity.

Improved average collection days outstanding by 18%.

Chief Financial Officer 1997-

2001

Regan Holding Corp., San Francisco, CA.

High-growth, start-up marketing and administrative holding company. Subsidiaries include a 500-employee

marketer and administrator of insurance annuities, a registered broker-dealer, an internet portal services

provider, and an advanced insurance concept educational provider.

Responsible for all financial and accounting functions, including investment and M&A activities, relationships with lenders

and Wall Street investment bankers, auditing, budgeting, and internal and external reporting. Supervise backroom

operations, including physical operation of facilities in California, Iowa and Georgia, imaging operations, and reception.

Oversee legal and compliance, including product filing in 48 states, consumer complaint resolution, and producer

compliance training.

Major Accomplishments:

Guided organization to record net income of $9.8 million in first year of employment, achieving 200% increase over

previous year.

Negotiated of partnership agreement with a major insurance carrier in 1998, leading to increased sales of

approximately $45 million in 1998 and $150 million in 1999.

Directed IPO activities, including interviewing/selecting investment banking firm, Wall Street law firm, and financial

printer.

Negotiated purchase, financing and development of new headquarters facility.

Implemented successful stock option and deferred compensation programs for producers and key employees during

1999.

Completed successful S-1 Registration Statement during 1998.

Vice President

1984-1997

Independent Insurance Group, Inc., Jacksonville, FL.

Publicly traded insurance/consumer finance holding company with subsidiaries in the life, health, property-

casualty and consumer finance industries.

Dual reporting responsibility to CFO and Chairman of the Board/ CEO. CFO reporting responsibilities included assisting

with bank negotiations, loan portfolio reviews, profitability studies, annual statement/shareholders' report preparation, and

M&A activities. Reported to Chairman of the Board/CEO on managing Internal Audit/Compliance functions. Directed

operational, financial, IT, and compliance audit functions for all 8 operating subsidiaries, including a large heath and life

insurer, a consumer finance company, 4 property/casualty companies, 2 service companies, and 3 employee benefit plans.

As the chief compliance officer, managed overall corporate compliance auditing function, acting as liaison between

company and all outside examiners. Administered audits of 2 independent certified public accounting firms. Coordinated

state insurance department financial and market conduct examinations, various state rate examinations, and all other outside

agency reviews. Served as chairman of the company’s credit union supervisory board.

Major Accomplishments:

Successfully automated Internal Audit Department with desktop PCs, laptops, and audit software, significantly

improving response time and quality of audit results and presentations and enabling 20% reduction in audit staff.

Coordinated all state financial and market conduct examinations. Negotiated settlements with state authorities,

resulting in only 1 minimal fine over 12-year period.

David A. Skup, CPA

Senior Finance and Operations Executive Page 3

Key member of acquisition team for 3 successful acquisitions.

Saved $1 million in 1995 through audits of premium taxes and tangible personal property taxes.

Led development of disaster recovery plan. Successfully planned and coordinated full-scale surprise disaster test,

enabling company to restore processing capabilities within 72 hours at remote site.

Senior Audit Manager 1974-

1984

Deloitte Haskins & Sells, CPAs (now Deloitte & Touche), Jacksonville, FL.

Joined firm as Assistant Accountant and progressed to Senior Manager. Specialized in the supervision of audit

engagements in the insurance, nonprofit, health care and financial services industries. Representative clients included Big

Brothers/Big Sisters, Girls Inc., March of Dimes, Independent Life, Gulf Life, Memorial Hospital, Shands Hospital, CSX

Corporation, Atlantic National Bank, Koger Equity, British Fidelity Assurance, Metropolitan Life, State Exchange Bank,

and First Federal S&L of Jacksonville. Worked closely with all levels of client management during audit and consulting

engagements. Trained, scheduled, and directed professional audit staff.

Major Accomplishments:

Practice development activities generated 2 large consulting clients and 2 audit engagements.

Participated in successful IPOs of 2 financial services companies and 5 debt and equity offerings of a large real estate

development corporation.

Co-authored firm’s nationwide constructive service manual for insurance companies.

Publications

"Market Conduct Addendum." IASA Accounting Textbook, 1995.

"Market Conduct Exams Could Get Ugly." Insurance Regulator, 1995.

"Market Conduct - Company Perspectives." IASA Conference Proceedings, 1995.

"Chapter 24 - Internal Control." IASA Accounting Textbook, 2001.

“Place Your Bets: Risk Management and the Gaming Industry.” Risk Management Magazine, October 2004.

Education

Bachelor of Science in Accounting, Florida State University, Tallahassee, FL.

Master of Science in Management, Florida State University, Tallahassee, FL.

Professional Memberships

Financial Executives Institute

American Institute of Certified Public Accountants

Florida Institute of Certified Public Accountants

Insurance Accounting and Systems Association (IASA), International President, 1997-1998

Phi Kappa Phi Honor Society

Beta Gamma Sigma Honor Society

Community Involvement

Girls Inc. Board of Directors

Florida State University College of Business Board (Chairman 1994-1996)

United Way of Northeast Florida Allocations Panel Chairman

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