STEPHEN PAGANO, CPA

Freehold, New Jersey ***** • 908-***-**** • ac70k1@r.postjobfree.com

FINANCE EXECUTIVE CONTROLLER CONTRACT CONSULTANT

Builds Financial Excellence Controls Risk Drives Operational Integrity& Process Improvements

Senior executive with broad financial and operational experience at both the corporate and business unit levels including U.S. and international operations. Hands-on leader with strong inter-personal skills and expertise in: GAAP, Statutory and Tax accounting & reporting; financial planning & analysis; strategic analysis and business plan development; internal controls; Sarbanes-Oxley (SOX) / Model Audit Rule (MAR) compliance; systems implementation and project management. Enhances profits by implementing process efficiencies, best practices and developing high performance teams. Mitigates risk by building well-controlled and fiscally responsible organizations that are operationally sound, accountable and compliant with all laws and financial standards.

PROFESSIONAL EXPERIENCE

CONTRACT CONSULTANT January 2017 to Present

Most Recent Clients: METLIFE / GLOBAL ATLANTIC FINANCIAL / CHURCH PENSION GROUP

Provide management advisory services to clients in the insurance and retirement benefits sectors.

Implement best practices to strengthen controls and oversight, and improve systems and processing efficiency.

Deliver a wide-range of financial and operational services to clients including accounting, reporting & analysis, SOX / MAR compliance, internal control assessments, process improvements and project management.

GUARDIAN LIFE INSURANCE COMPANY 2005 to October 2016

INDIVIDUAL MARKETS CONTROLLER ($4B in premiums/$40B of valuation reserves)

Accounting Oversight & Close Process, Financial Reporting, Accounting Policies & Procedures

Oversaw all aspects of financial accounting, reporting and analysis for the Individual Life and Agency Distribution business on a GAAP, Statutory and Tax basis. Maintained best practices and regulatory compliance.

Managed the monthly and year-end financial close process creating journal entries and account reconciliations, and preparing financial statements, analyses, and key performance metrics presented in the monthly Flash Report and Quarterly President’s Report to the Board of Directors, senior management, regulators and rating agencies.

Led the Financial Planning & Analysis function and its charge to develop and deliver annual plans, prepare reforecasts, analyze variances, conduct expense studies and address cost management issues.

Served as single point of contact with external auditors and state regulators for all audit matters and requirements.

Leveraged new technology, coaching and staff training to improve competence, efficiency and processes.

Reengineered the financial close process resulting in a 33% decrease in duration from 12 to 8 business days by increasing automation, streamlining workflows and formalizing account analyses and reconciliations.

Championed new data warehouse and use of querying tools to facilitate centralized reporting and analytics in support of the Company’s Enterprise Resource Planning (ERP) and finance transformation efforts.

Developed a series of new financial reports to satisfy a 67% growth in management reporting requirements over a 2-year period while improving data control and integrity and reducing staff by 25%.

Internal Controls, Risk Management, Process Improvement

Maintained strong internal control environment to ensure balance sheet integrity and reliable financial processes.

Managed SOX / MAR testing and compliance and all other internal control issues serving as point person for all Internal Audit examinations and as a member of the Individual Markets Risk Management Committee.

Acted as Identity and Access Management (IAM) lead and performed oversight of Individual Markets’ IT application provisioning, entitlement reviews and maintaining a proper segregation of duties among users.

Established strong alliances with business partners and other key stakeholders across the Company to play a lead role in planning and directing a number of team projects that built and implemented new systems software and advances in technology to improve efficiency, reporting, internal controls and transparency.

SOX / MAR – Devised process, created initial framework and rolled-out Paisley administrative software to ensure compliance.

IAM – Designed and instituted automated approach to granting IT application access, tracking changes and reporting user status by installing SailPoint management software.

Valuation Reserving – Built and implemented financial controls and automated management reports for new Triton Actuarial Reserving System to calculate and report life reserves of $33B. New system provided greater precision and scalability, reduced turnaround time and lowered required reserves resulting in improved earnings of $36M.

Agent Compensation – Established proper financial and operating controls for a new Agency Compensation System to process and report $500M in annual commissions paid to agents and brokers.

Benefit Claims – Defined and guided implementation of financial controls around new FINEOS software installed to process, track and report on $1.2B in contract benefits paid out annually.

FINANCIAL SECURITY ASSURANCE (a financial guaranty insurer) 2003 to 2005

VICE PRESIDENT & INTERNATIONAL CONTROLLER

Accounting Oversight - International Accounting & Reporting

Directed all aspects of internal and external accounting and reporting for the Company’s foreign operations. Generated consolidated quarterly and annual U.S. GAAP financial statements and analyses presented to senior management. Prepared and submitted local GAAP and IFRS financial statements and statutory filings required by foreign regulators and tax authorities in the UK, France, Japan, Singapore, Australia and Bermuda. Coordinated with external auditors in the U.S. and foreign markets in addressing and resolving U.S. and foreign accounting policy problems and issues, and completing required financial audits and tax filings.

Modeled and monitored capital solvency, net worth maintenance, loss reserves, reinsurance and other financial measures to ensure ongoing compliance with local regulatory requirements and agreements.

Worked with businesses in modeling key metrics to maximize EBITDA and returns, and to optimally manage working capital and cash flows.

Project Management - SOX Implementation

Used strong leadership skills and my ability to influence, motivate and educate team members and senior management to lead the Company’s efforts to ensure initial and ongoing compliance with Sarbanes-Oxley 404.

Formed project team, set timeline and milestones and established a Steering Committee to provide guidance.

Defined methodologies and created actionable steps to meet project objectives and remediate control gaps.

Developed a framework and installed a software tool to document and assess risks and internal controls by mapping financial statements to accounting cycles, functional areas and business processes.

NEW YORK LIFE INSURANCE COMPANY 1987 to 2003

INTERNATIONAL VICE PRESIDENT - Finance, Strategy & Development (2000 – 2003)

Reported directly to the Executive Vice President & CFO, responsibilities included business strategies and accounting oversight for Company’s Taiwan insurance operations and its Chinese and Indian Investment Funds.

Led project team that generated $80M in projected savings in taxes and other expenses by converting the Company’s Taiwan Branch operations to a subsidiary.

Generated a $25M tax savings as a key member of team that converted a corporate holding company to a limited liability corporation.

INTERNATIONAL VICE PRESIDENT - Financial Planning & Analysis (1998 – 2000)

Managed business and financial planning reporting process across 10 global markets to meet Company and Corporate Parent needs including developing annual plans and managing working capital and cash flows.

CORPORATE VICE PRESIDENT - Investment Reporting (1992 – 1998)

Served as chief financial and operations officer in Corporate Investment Department. Supervised support staff responsible for investment accounting and reporting provided to management, state regulators and SEC.

ASSISTANT VICE PRESIDENT - Business Development (1989 – 1992)

Held Controller role for Company's start-up international insurance and asset management operations.

PROJECT CONSULTANT - Controller's Department (1987 – 1989)

Recruited as senior member of project team implementing a company-wide Expense Management System.

ADDITIONAL EXPERIENCE:

GENERAL ELECTRIC

CORPORATE AUDIT MANAGER

Planned, organized and administered financial and operational audit examinations of various GE businesses.

PRICEWATERHOUSECOOPERS

SENIOR FINANCIAL AUDITOR

Planned and supervised audit examinations of financial statements and internal control systems for a number of service industry and manufacturing clients, including SEC regulated companies.

EDUCATION

Rutgers University: MBA in Accounting and BA in Economics & Business Administration

CERTIFICATIONS

Certified Public Accountant: Member AICPA and NJ State Society of CPAs

Lean Six Sigma Green Belt

Wharton School of Executive Education: Mergers & Acquisitions Program

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