Mark J. Palastro, CPA
Scott Township, PA 15106
Finance and Accounting professional with significant and diverse financial accounting and reporting and internal audit experience. Very dedicated, enthusiastic, people oriented professional with very strong technical, organizational and communication skills.
Holy Family Institute January 2010 – Present
Chief Financial Officer
Directing and supervising the finance staff
Oversee cash flow, investments and asset management
Provide capital flexibility that allows for grow and investment opportunities during downturns without putting the bottom line at risk
Ensure the balance-sheet strength allows us to pursue our strategies while continuing to invest in our infrastructure and improve performance – all while protecting financial stability
Review financial statements and budget variances with appropriate management staff
Prepare analysis of the key performance indicators (dashboard) of the Corporation at a consolidated and program level
Represent the organization to financial partners, including financial institutions, foundations, auditors, etc
Review projections and variance reports with the Finance Committee and Board of Directors
Coordinate the development and monitoring of budgets
Review and execute contracts
Maintenance of appropriate internal controls and financial procedures
Coordinate audits and proper filing of tax returns
Contribute to the development of strategic goals
Designs and maintains metrics to ensure business objectives are obtained
Set goals, manage execution and measure results for programs
Unison Administrative Services September 2001 – November 2009
Director of Internal Audit
Directing and supervising the Internal Audit and Special Investigation Unit (eight direct reports) of a $900 million Medicaid HMO.
Oversee the planning and execution of financial and operational audits to include but not limited to appropriate reimbursement of procedures, identifying provider and member issues that appear to be out of the norm, assisting the external auditors, meeting and working with government agencies, coding issues and identifying contract terms inaccurately followed.
Making recommendations for the correction of unsatisfactory conditions and preparing audit reports.
Performing fraud and abuse training.
Developing data mining reports, analyzing contracts, and other special projects requested by senior management.
Oversee SOX function.
Audit efforts resulted in over $25,000,000 of cost savings or revenue generating income for the organization.
Children’s Hospital July 1997 - September 2001
Director of Finance, Children’s Community Care
Directing the entire accounting function including billing, collections, payroll, customer service, contract negotiations and budgeting for a large medical group practice that is a wholly owned subsidiary of Children’s Hospital.
Planned and conducted financial and operational audits, analyzing managed care contracts, training and supervising staff, preparing audit reports, making recommendations for the correction of unsatisfactory conditions and other special projects requested by the CFO.
Audit efforts resulted in over $2,500,000 of revenue generating income for the Hospital related to unbilled or incorrectly billed procedures, appropriate pricing of procedures, and managed care contract terms inaccurately followed.
Siemens Medical Systems June 1996 - July 1997
Analyzed the general ledger and P & L statement for significant variances from budget and prior year figures, prepare forecasts, financial reports, special analytical reports including cost analysis, and reviewing expenses on a monthly basis.
Ohio Valley General Hospital October 1991 - June 1996
Planned and conducted financial and operational audits, preparing audit reports, making recommendations for the correction of unsatisfactory conditions and other special projects requested by the President or Board of Directors.
Special projects involved negotiations of contracts, analyzing the financial statements for significant variances from budget or prior year figures and analyzing the pricing of Hospital services.
Audit efforts resulted in over $2,100,000 of annualized revenue generating or cost saving findings and recommendations for the Hospital related to unbilled or incorrectly billed procedures, appropriate pricing of procedures, contract terms inaccurately followed, investment strategies, capitation agreement analysis and implementation of new cost saving or revenue generating procedures.
USAir, Inc. July 1989 - October 1991
Senior Internal Auditor December 1984 - January 1987
Planned and conducted financial and operational audits, supervising audit assignments, preparing audit reports, assisting the external auditors and making recommendations for the correction of unsatisfactory conditions.
Trained staff auditors and maintaining an effective working relationship with operating management.
One of my major accomplishments at USAir was an audit of the self-funded health plan that indicated overcharges of as much as $3,800,000.
Spring Hill Savings and Loan May 1988 - July 1989
Established an internal audit program that consisted of reviewing policies and procedures for all departments of the Association.
Ensured compliance with Federal and State Regulations and assisting management with special projects.
Held positions of Compliance and Security Officer along with a seat on the Asset/Liability Committee.
Federal Home Loan Bank of Pittsburgh January 1987 - May 1988
Assessed the overall safety and soundness of institutions by analyzing capital adequacy, quality of management, asset quality, earnings, liquidity, compliance with applicable regulations and evaluation of policies and procedures.
Prepared examination reports and trained and evaluated assistant examiners.
First Federal Savings and Loan of Pittsburgh June 1981 - December 1984
Senior Staff Auditor
Prepared quarterly audit report, supervised staff auditors, prepared bank reconciliation’s, reviewed the general ledger for posting discrepancies, performed surprise cash counts, and calculated share loans. Balanced bonds, travelers' checks, cash on hand, home improvement loans and mortgages.
Education, Professional Memberships & Activities
BS in BA – Accounting
Robert Morris University, Pittsburgh, PA
Successfully completed numerous continuing education courses and seminars in order to meet the requirements to retain CPA license.
Pennsylvania Institute of Certified Public Accountants
Association of Healthcare Internal Auditors
Association of Certified Fraud Examiners – Pittsburgh Chapter
Assistant Scoutmaster and Treasurer – Troop 262
Carlow University – Adjunct Faculty, Advanced Accounting I and II (2006 -2007)
Scott Township Civil Service Committee
Member of the Board of Directors of Clearview Federal Credit Union
Member of the PCCYFS Board of Directors
Member of the Rate Methodology Task Force which was convened as a result of a law passed in 2013 in which state, county and private provider members worked in a very collaborative manner to develop a proposed process that is built on accountability and transparency in the use of federal, state and local county dollars to support the delivery of services that counties choose to purchase from private providers