JOHN J. D’AMATO

Austin, TX ***** / 860-***-**** – Mobile / ad2l75@r.postjobfree.com

linkedin.com/in/john-d-amato-cpa-cfe-193a45

SUMMARY AND SKILLS

Performance-driven CPA with extensive qualifications in the insurance industry[1]. Practical, articulate, and creative with a proven ability to solve difficult business challenges. Innovative planning, organization, and conceptual abilities. Decision maker with a direct approach to solutions. Served as and been deposed multiple times as an Expert Witness. Professional with “Big Four” Public Accounting, Private, Regulatory, and Consulting experience. Strong working background in Process, Operational, and Internal Control Improvement; Audit, and Financial Consulting; Accounting and Shared Services Operations. Respected leader with a demonstrated ability to motivate and inspire teams.

INDUSTRY EXPERIENCE

Property & Casualty Insurance

Life & Health Insurance

Solvency & Operational Reviews

Workers’ Compensation

Medicare Advantage

Claim Process Redesign

Unclaimed Property Analysis

Expert Witness Matters

Shared Services Review/Design

AREAS OF EXPERTISE

Financial Modeling

Financial Risk Management

Operational Risk Management

Risk Identification

Risk Prioritization

Shared Services Operations

Risk Validation

Risk Monitoring

Internal Audit

Financial Reporting & Analysis

Forensic Accounting

Forensic Investigations

Internal Controls (COSO)

Financial & Internal Audit

Sarbanes-Oxley

Expense Management

Statutory Examinations

Market Conduct

PROFESSIONAL EXPERIENCE

Texas Property & Casualty Insurance Guaranty Assoc. (TPCIGA) - Austin, TX www.TPCIGA.org

Chief Financial Officer

1/2020 to Present

Lead the Finance, Information Technology (IT), Human Resources (HR) and Planning & Business Services (P&BS) Divisions.

Partner with the Executive Director, Claims Director, and IT Director.

Manage a $7 million operating budget.

Manage the Investment program (nearly $500 million), investment policy, and money managers.

Stay current with financial, information systems, and operating issues.

Serve as liaison to the Board of Directors’ Finance and Audit and Human Resources Committees.

Direct, plan, and organize financial reserves programs, allocation of funds, and accounting systems.

Provide oversight of administrative, operational, and financial functions, including Finance, Accounting, IT, HR, P&BS, and Claims Management.

Prepare and implement annual budget, including reviewing expenditures to ensure compliance with approved budget guidelines. Lead the annual strategic plan.

Manage financial aspects of program planning and liaise annual audits, insurance policy audits, etc.

Provide technical guidance and direct the selection and implementation of various accounting applications and claims systems and issues.

Review Special Deputy Receivership (SDR) funding requests & establish SDR expense allocation policy.

Establish and monitor staff performance and progress toward developmental goals. Make recommendations regarding hiring, disciplining, and terminating employees.

RISK & REGULATORY CONSULTING, LLC - Austin, TX

(Former Regulatory Insurance Practice @ RSM US / McGladrey) www.riskreg.com

Director

7/2011 – 1/2020

Perform NAIC (National Association of Insurance Commissioners) risk focused statutory financial and market conduct examinations of insurance companies on behalf of state insurance departments (Property & Casualty, Life, and Health Insurers).

Perform solvency & operational reviews on behalf of health / life / property & casualty insurance companies or state insurance departments.

Provide internal audit services to the insurance and healthcare industries (SOX; ACA, Model Audit Rule).

Provide expert witness services related to insurance company transactions.

Served as a lead project manager on the Federal Health & Human Services (HHS) Medical Loss Ratio (MLR) examination project related to 25 to 45 insurance companies at any one time.

Work closely with Financial Operations, IT Operations, and Actuarial Operations on behalf of insurance companies in the development of process improvements related to underwriting, claims, policy administration, and fraud risk management matters.

Perform insurance company rehabilitation & receivership work on behalf of state insurance departments.

Conduct financial and market conduct reviews of unclaimed property and state escheatment processing.

Provide Form A (Insurance Company Change of Control) services on behalf of state insurance departments, with a keen emphasis on the impacts of competition.

Participate in proposal development and responses to requests for proposal.

Maintain strong client relationships through frequent client contact and development.

Responsible for all aspects of project management including mentoring, managing, and inspiring teams.

Responsible for achieving annual sales and utilization goals.

RECTOR & ASSOCIATES, INC. – Austin, TX

www.rector-associates.com

Senior Financial Consultant

1/2010 – 6/ 2011

Served as a lead engagement manager representing health / life / property & casualty insurance companies, state insurance regulators, the NAIC, law firms, and accounting firms.

Provided insurance regulatory consulting services with emphasis on corporate/business transactions, financial solvency matters, statutory accounting issues, internal control, and fraud risk matters.

Served as expert witness on multiple claim and workers’ compensation matters.

Resolved ad hoc requests along with client challenges/concerns through necessary research.

Managed multiple concurrent engagements and the Firm consultants according to project needs.

Participated in proposal developments and responses to requests for proposal.

Maintained strong client relationships through frequent client contact and development.

INDEPENDENT CONTRACTOR – Austin, TX

8/2008 – 12/2009

Served as an expert witness responsible for analyzing various accounting transactions, including applying forensic accounting techniques.

Provided outsourced accounting; budget & planning; process mapping; controls testing; organizational design; and process redesign services for various clients.

Provided advisory, financial solvency, statutory examination, fraud risk management, and internal controls services to industry and state agencies. Emphasis includes the insurance industry and state insurance departments. Recent engagement performing a statutory financial examination of a Medicare Advantage health insurance company, which was subsequently acquired by United HealthCare.

FIC INSURANCE GROUP, INC. – Austin, TX

www.ficgroup.com

NOTE: Americo Life acquired the Company on 7/17/08 and provided me with a 1-year severance.

Director – Internal Audit

6/2007 – 7/2008

Company was a financially troubled publicly held life insurance company based in Austin, Texas.

Reported directly to and worked effectively with a demanding and risk-sensitive Independent Audit Committee, while fostering a productive relationship with the CEO.

Established the Company’s first ever risk-based internal control audit function and complied with the Public Company Accounting Oversight Board’s (PCAOB) Auditing Standard #5 (AS-5).

Constructed, delivered, and independently compiled the results of the Audit Committee’s individual director bi-annual self-evaluations. Provided suggested areas of improvement and or development.

Constructed, launched, and managed the Company’s 2007 Sarbanes-Oxley documentation, testing, and conclusion process. External auditor reliance saved the Company 20% in audit fees.

Evaluated and drove the adequacy of the Company Operation’s solutions to remediate all six of their 2006 10-K Section 9A material operating weaknesses.

Influenced and advised the Senior Management Team in the development of both a Fraud Risk Management Plan and a Quarterly SEC Disclosure Control Committee Process.

Developed and delivered training programs on internal controls, ethics & compliance, and fraud risk management in both small groups and at the full Company level.

Served as the Company’s subject matter expert, investigation co-lead, and liaison with law enforcement related to an employee’s embezzlement of $250,000.

Worked with the transition team following the Company’s July 2008 acquisition by Americo Life (Kansas City, Missouri).

KPMG LLP – Hartford, CT / New York, NY

www.kpmg.com

Director – Financial Advisory Services – Forensic

6/2000 – 6/2007

Promoted from Senior Associate to Manager to Director within five years.

Developed $1.5 million in annual individual revenue.

Appointed by the Insurance Regulatory Practice as the lead project director for financial statutory and market conduct examinations.

Performed claim, provider contracting, and utilization management reviews leading to process improvement and cost savings initiatives.

Developed a relationship with the New State Workers’ Compensation Board, which progressed into a five-year contract to perform financial /operational reviews and examinations of self-insured funds.

Conducted internal control “gap analysis,” in conjunction with Sarbanes-Oxley standards.

Collaborated with both Firm and external Actuarial and Information Technology Teams.

Assigned by the Firm’s Office of General Counsel and Department of Professional Practice to provide risk management reviews related to possible illegal acts by audit clients.

Managed investigations in response to regulatory subpoenas, as well “fraud in the audit” (SAS 99), with a strong emphasis on the insurance, healthcare, and consumer goods industries.

Developed and reviewed anti-fraud & compliance and business ethics programs for financial services companies, insurance companies and insurance-related entities.

Led multi-site investigations of finite reinsurance, bid rigging, and stock options backdating.

Developed a long-standing relationship with a prominent New York-based international law firm.

Monitored the quarterly National Association of Insurance Commissioners (NAIC) Conferences.

Motivated, mentored, and developed succession plans for junior staff.

THE HARTFORD – AFFINITY PERSONAL LINES – Southington, CT, www.thehartford.com

General Accounting Manager – Expense Management (Controllers Division)

5/1999 – 6/2000

CIGNA HEALTHCARE – Bloomfield, CT, www.cigna.com

Audit Assistant Director – HealthCare Financial Reporting Division

10/1997 – 5/1999

STATE OF CONNECTICUT DEPT. OF INSURANCE – Hartford, CT, www.ct.gov/cid/

Insurance Accredited Financial Examiner

4/1994 – 10/1997

PRICE WATERHOUSE – Hartford, CT, www.pwc.com

Senior Accountant

11/1992 – 4/1994

AETNA LIFE & CASUALTY COMPANY – Hartford, CT, www.aetna.com

4/1991 – 11/1992

Senior International Internal Auditor

COOPERS & LYBRAND – San Jose, CA / Hartford, CT, www.pwc.com

Senior Audit Associate

9/1988 – 4/1991

EDUCATION AND OTHER

Bachelor of Science in Business Administration (BSBA) - Major: Accounting

University of Hartford, West Hartford, Connecticut [magna cum laude – May 1988]

CREDENTIALS / MEMBERSHIPS:

Certified Public Accountant (CPA) Licensed in the State of Texas

Member of International Association of Insurance Receivers (IAIR)

Member of the National Conference of Insurance Guaranty Funds (NCIGF)

Member of the Financial Executive International (FEI)

Certified Financial Examiner (CFE) - Society of Financial Examiners (SOFE) [Inactive]

Special Deputy Receiver (SDR) Eligible Bidder with Texas Department of Insurance [Inactive]

Market Conduct Management (MCM) designee – Insurance Regulatory Examiners Society

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