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Accounting/Finance Vice President

Location:
Manassas, Virginia, United States
Posted:
January 10, 2017

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DAVID M. FIORITO

Bristow VA ***** / (732) ***-**** / acx7ie@r.postjobfree.com

PROFESSIONAL EXPERIENCE

Highly accomplished, results driven accounting and financial management executive with significant experience in finance, operations analysis, start-ups and mergers & acquisitions for national banking institutions. Demonstrated ability to turn around and streamline business operations to drive growth and improve efficiencies. Career interaction at executive management levels with solid communications and interpersonal skills to build a team atmosphere at all staff and management levels in fast-paced environments.

Core Competencies

- Profit & Loss Responsibility - Strategic Planning & Analysis

- Organizational Leadership - Performance Optimization

- Revenue Forecasting - Crisis Management

- Policies & Procedures Development - Expert in Excel & QuickBooks JETdebit, LLC

Vice President, Finance & Accounting (April 2016 - Current) Bristow, VA Start-up private aviation company specializing in worldwide private jet charter brokerage.

Drafted policies & procedures covering sales & accounting flow

Created specialized accounting architecture in QuickBooks

Prepare monthly statements and interface with clientele

Manage all accounting and finance activities

Annual revenue forecast to exceed $3 million dollars METROPOLITAN AVIATION, LLC

Vice President, Finance & Accounting (April 2012 – March 2016) Manassas, VA Turned around and managed the accounting and finance departments of a struggling regional private air carrier. Reorganized departments, establishing an environment of accountability, and consensus building

& teaming. Established new QuickBooks Enterprise accounting architecture for streamlined data entry, robust reporting and cash flow analysis. Created the company’s trademarked owner Recap Statements providing monthly financial analysis on the performance and profitability of each plane in the fleet.

Drafted comprehensive policies & procedures manual to establish best practices & benchmarking for consensus building & teaming

Profitability Improvement: Doubled fleet to 10 planes growing revenue from $6.5 mil to $18 mil

Developed Excel based private label jet card quoting platform

Successfully led a comprehensive FET audit with the IRS resulting in savings of over $300k in fines/penalties

SOVEREIGN BANK

Vice President, Work Out Division (October 2010 – March 2012) Princeton, NJ Responsible for working out of an diverse portfolio totaling $280 million of defaulted loans ranging from aircraft loans to letters of credit backing private schools.

Successfully divested three aircraft at double expected liquidation value

Restructured two expiring private school letters of credit totaling more than $30 million resulting in market rate loans backed by new equity infusions TALL BRIDGE ASSET BACKED FUND, LP

Founding Partner (December 2004 – September 2010) Red Bank, NJ Launched a fund with an alternative asset-backed investment strategy. Raised capital from a variety of accredited investors, private equity and venture capital.

Drafted comprehensive policies & procedures for company covering underwriting, document flow and closing procedures

Funded more than 600 loans totaling more than $90 million with cumulative return of 56% through 2009

Established and negotiated joint ventures & alliances

Managed an organization with staff of more than 30 individuals across 13 states FLEET CAPITAL CORPORATION (1995 – 2004)

SVP, Portfolio Manager (October 2000 - May 2004) Chicago, IL & New York, NY Managed a team of loan officers with over $500 million in loan commitments. Portfolio consisted of various stand-alone manufacturing and service companies as well as platform companies owned by venture capital firms in the Chicago and New York markets involved in mergers, acquisitions, recapitalizations and refinancings. Maintained and created extensive communication and interaction with executive management teams of customers and the venture capital firms. Responsible for developing strategies to support customer growth, underwriting customer acquisitions, negotiating modifications to the deal restructure, negotiating and executing legal documents, cross sell bank products including cash management, derivatives and high yield products and train junior loan officers.

P&L responsibility over a portfolio of $150 million

Responsible for a staff of loan officers with combined portfolios exceeding $400 million

Produced over $12 million in fee income over the period Vice President, Portfolio Administration (October 1995 - September 2000) Chicago, IL

Underwrote three transactions totaling over $120 million in commitments

Negotiated and closed ten transactions totaling over $320 million in commitments and syndicated commitments totaling $90 million to seven participants

Responsible for new business origination in Chicago and Michigan markets

Reviewed 30 deals, issued nine letters of intent, and closed one deal while responsible for business development in the Chicago market from February 1999 through October 1999 BANKAMERICA BUSINESS CREDIT, INC.

Vice President, Portfolio Administration (September 1992 - September 1995) Chicago, IL

Successful workout of three non-performing loans totaling $27 million

Produced $504 thousand additional income through negotiated fees

Re-underwrote three transactions totaling $98 million

Underwrote $18.7 million of a $125 million commitment and secured co-agency status resulting in a more attractive closing fee of 75 basis points ($141 thousand) EDUCATION

James Madison University, Harrisonburg, VA:

Bachelor of Business Administration: Major in Finance / Minor in Economics.



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