JOSEPH B. LOFOCO, MBA Director of Finance
203-***-**** acw3ep@r.postjobfree.com 515 West Avenue PH03 Norwalk, CT 06850
Detail and results-oriented executive with extensive accounting and financial management experience including taxation, operational management and internal and external audit procedures. Analytical professional skilled at successfully developing long-term financial plans, implementing process improvements, and developing effective audit procedures to ensure the achievement of corporate goals. Collaborative communicator focused on building relationships and promoting cooperation across business lines and global units to drive positive change and comprehensive financial approaches for enhanced profitability. Areas of Expertise include:
Generally Accepted Accounting Principles
General Ledger Structure
Statutory Accounting
Financial Reporting
Internal Audit Procedures
Forensic Accounting Skills
Policies & Procedures
External Audit Procedures
Internal Controls
Strategic Budgeting & Forecasting
Financial Analysis
Revenue & Profit Growth
Process Improvements
Problem & Conflict Resolution
Property Accounting
Cash Flow Management
Operations Management
Tax Preparation
EXPERIENCE & NOTABLE CONTRIBUTIONS
WP Capital LLC Norwalk, CT June 2016 – September 2016
Private Equity Company in Commercial Real-Estate & Property Management $250 Million in annual revenues
INTERM CHIEF FINANCIAL OFFICER/CHIEF OPERATIONS OFFICER/CONTROLLER
Formulates strategic operational efficiency in collaboration with long-term financial planning to keep the managing partner and board of directors well informed.
Directs all financial activities including accounting functions, outsourcing activities, internal employee activities, general ledger entries and maintenance, accounts payable, accounts receivable and banking relationships.
Manages and forecasts cash flow ensuring the prompt payment of vendors and implementing collection actions for accounts over 90 days past due
Partner with outside information technology contractor to maintain infrastructure and plan future modifications
Proctored business plan and start-up funding
Develop future growth projections for investor portfolio
Leads client initiatives to improve financial operations, identifying accounting problems and proposing solutions
Develops audit procedures and conducts internal audits to identify and resolve any reconciling discrepancies
Plans and implements strategic budgeting and accounting procedures and overall operational efficiency
KEY ACCOMPLISHMENTS:
Implementing new accounting and management outsourcing program that improve the processes and efficiency of the finance and accounting department
Saved investors and board of directs (high net worth individual) thousands in tax liability through the expert completion and review of income tax filings and related investment vehicles
Develop and support of US GAAP and IFRS Accounting responsibilities that span multiple operating subsidiaries and special accounting projects. Recommendation and implementation of accounting policy in conjunction with regulatory requirements including the disposition of various rate deferrals, amortization, etc.
Planned and forecasted short- and long-range goals, objectives, policies, and operating procedures, designing and building the organizational structure and staff to effectively accomplish goals
Develop and Implement new policies and procedures for internal and external management functions
Joseph B. Lofoco, MBA Resume, Page 2
Affineco Companies New York, NY 2013 – 2016
Private Equity Company in Property Management & Maintenance $167 Million in annual revenues
DIRECTOR OF FINANCE/CORPORATE CONTROLLER
Formulates strategic long-term financial plans in collaboration with CFO and Founders managing a team of eight direct reports and thirty external managers to achieve corporate goals for a multi-level corporation with seven subsidiary companies
Directs all financial activities including all accounting functions including processing weekly payroll for 2800+ employees, general ledger entries, accounts payable, accounts receivable, and controls inventory levels
Manages and forecasts cash flow ensuring the prompt payment of vendors and implementing collection actions for accounts over 90 days past due
Collaborates with department managers to identify opportunities to improve sales, reduce costs, and implement process improvements utilizing a proactive approach to reviewing accounting and finance procedures and workflows
Partners with outside information technology contractor to maintain infrastructure and plan future modifications
Proctored two acquisitions, a merger and two new startups
Leads client initiatives to improve financial operations, identifying accounting problems and proposing solutions
Develops audit procedures and conducts internal audits to identify and resolve any reconciling discrepancies
Plans and implements strategic budgeting and accounting procedures
KEY ACCOMPLISHMENTS:
Saved $30K by implementing new accounting and management software that improve the processes and efficiency of the finance department
Saved high net worth individual clients thousands in tax liability through the expert completion and review of income tax filings and related investment vehicles
Nominated to 401(k) Committee to participate in quarterly review of plan investments, lead employee education meetings, ensure fiduciary obligation, assign optimal third party administrators, and comply with regulations
Improved efficiency, increased revenues, and reduced man-hours, building a productive network of over two hundred institutional clients, representing relationships with independent investment equity research providers with sales ranging from $5 million to $20 million
Support of US GAAP and IFRS Accounting responsibilities that span multiple operating subsidiaries and special accounting projects. Recommendation and implementation of accounting policy in conjunction with regulatory requirements including the disposition of various rate deferrals, amortization, etc.
Planned and forecasted short- and long-range goals, objectives, policies, and operating procedures, designing and building the organizational structure and staff to effectively accomplish goals.
Management Resources-Temporary Contract Positions 2005 – 2016
Provider of finance and business guidance to individuals and businesses
Executive Consultant
WP Capital – Business Consultant
HEI Hotels – Manager FP&A
Reynolds & Rowella CPA Firm- Senior Tax Accountant
First Command Financial Services – Financial Analysis
Walgreens – Business Analysis
Bucci Law Offices Group - Corporate Controller – Tax Manager
Provided managerial resources to companies on a temporary contact basis
Manage overall operations of the state finance department, including accounting, facilities management and human resources.
Created quarterly budget and expense reports, managed chart of accounts, and coordinated company’s monthly income and expense calculations on profit and loss analysis
Identified and analyzed accounting problems to develop and implement financial solutions and audit procedures
Supervise Administrative and Accounting staff and processes including accounts payable, accounts receivable, billing and general ledger maintenance.
Analyzed financial statements, general journals and supporting documentation to ensure the financial information reported was accurately reflected on returns and in compliance with state law and local ordinances.
Analyzed Property and Casualty Insurance Regulations and Underwriting Policy and Procedures for large commercial insurance companies.
DIRECTOR OF FINANCE / CORPORATE CONTROLLER
Joseph B. Lofoco, MBA Resume, Page 3
Manage overall operations of the state finance department, including accounting, facilities management and human resources.
Created quarterly budget and expense reports, managed chart of accounts, and coordinated company’s monthly income and expense calculations on profit and loss analysis
Identified and analyzed accounting problems to develop and implement financial solutions and audit procedures
Supervise Administrative and Accounting staff and processes including accounts payable, accounts receivable, billing and general ledger maintenance.
Analyzed financial statements, general journals and supporting documentation to ensure the financial information reported was accurately reflected on returns and in compliance with state law and local ordinances.
KEY ACCOMPLISHMENTS:
Increased the efficiency of financial reporting system for transition from SL to SAP software upgrades to integrate critical enterprise systems, customized financial reports, and redesigned general ledger
Reduced invoice processing time and assured timely processing of accounts payable and accounts receivable by creating a billing spreadsheet
Create central hub processing system to increase efficiency of operations
Implement and oversee new system migration and software updates
Developed a new internal finance team and implemented policies and procedures to manage the department’s assets and liabilities
Performed operational efficiency review, reduced operating expenses by 32%, including the reduction of bank maintenance and transaction fees 75% by utilizing banking relationship and changing financial institutions.
Self-generated approximately 50% of caseload as a result of identifying additional issues leading to the expansion of audits to include subsequent years and/or related returns such as examination of vendors and discovery of non- filers
ADDITIONAL ACCOMPLISHMENTS
PALM BEACH COUNTY SHERIFF’S OFFICE, Financial Crimes Investigator, Palm Beach, FL, 1998 – 2013
UNITED STATES ARMY/US ARMY RESERVES, Captain, 1994 – 2014
SKILLS
Windows, Microsoft Office, MS Dynamics SL, V-lookups, Pivot Tables, MySQL, Macros, QuickBooks, Peachtree, Reynolds & Reynolds, ADP Workforce, Sage, PeopleSoft, ProSeries FX, Oracle, SAP, Yardi, AppFolio, BI360, Cost-Benefit Analysis, Variance Analysis, Cost Inventory Accounting, Budgeting and Accruals, Financial Reporting, Case-ware, LexisNexis, Westlaw.
EDUCATION & TRAINING
Master of Business Administration and Management/Public Administration
STRAYER UNIVERSITY Herndon, VA
Bachelor of Science in Business Administration and Management/Psychology
STRAYER UNIVERSITY Herndon, VA
Associate of Science in Para-Legal Studies
FLORIDA TECHNICAL COLLEGE Orlando, FL
CPA License Candidate, State of Connecticut, Anticipated Completion 2017
DBA Candidate, Keiser University, Anticipated Completion 2020