Eric Spencer CPA, MBA
Denver, Colorado adcdi3@r.postjobfree.com 720-***-****
Mr. Spencer is a senior executive with 20+ years of experience in finance and leadership. He has developed a philosophy of finding maximum effectiveness through a balance of managing people and systems. He utilizes a principled approach of goal setting through KPI’s / OKR’s to inspire performance of individuals and teams. A passion of his is to be actively engaged with new developments in technical accounting and cutting edge technologies.
SUMMARY OF QUALIFICATIONS
Experience
Chief Financial Officer – SALT Lending, 8/2018 to 3/2020
Senior Vice President & Controller – Computershare Loan Services, 8/2013 to 8/2018
Vice President of Finance & Accounting – Broe Real Estate Group, 10/2008 to 8/2013
Manager Capital Transactions Team – AIMCO, 3/2006 to 10/2008
AVP of Budgeting and Forecasting & Assistant Controller – GMAC, 2/2005 to 3/2006
Assistant Manager Financial Analysis – Great West Life, 2/2002 to 2/2005
Education/Credentials
CPA License – Colorado, active
MBA – University of Louisville, May 2001 - Full time student 9/2000 - 5/2001
BA Economics – Rutgers University
DETAILED PROFESSIONAL EXPERIENCE
SALT Lending - a FinTech company offering innovative blockchain backed lending solutions and products; 45 employees
Chief Financial Officer - 8/2018 to 3/2020
Managing Accounting, Finance, Treasury/Banking, A/P, A/R; total Staff of 6
Coordinating Audits and solving complex technical accounting issues
Budgeting/Forecasting/Modeling
Creating transparent transactions via the Blockchain / managing and reconciling cryptocurrency assets
Financing & Debt Facilities
Managing Company Equity: Equity Incentive Plans, Cap Table, Stock Options, Convertible Bonds
Corporate Governance / Internal Controls / Risk Mitigation & Insurances
Financial Systems: Installation, Integration, Automation
Establishing Corporate Strategy: Short, Medium & Long Term Goals using OKR’s & KPI’s. Reporting progress to Board and employees.
Process Improvement / Adding Value
Accomplishments
oCleaned up 3 prior years of accounting records & 140,000 cryptocurrency transactions
oCompleted the first consolidated audit
oReduced income taxes by $2.5M
oInstalled new G/L Software Sage Intacct, integrated with other internal systems
oDeveloped Accounting, Finance, Forecasting departments and staff
Computershare Loan Services - a residential mortgage loan servicer with $275MM revenue, 1300 employees, 500,000 loans with balances over $75Billion
Senior Vice President & Controller - 8/2013 to 8/2018
In charge of Accounting Department, Finance Unit, Treasury Unit, A/P & A/R Units; total Staff of 25
Budgeting/Forecasting/Modeling
Debt Facility Financing totaling over $1.5 Billion
Coordinating Big 4 Audits: US GAAP, IFRS, Government Audits, Agreed Upon Procedures: managing costs, timelines
Systems integration
Reporting on Key Performance Indicators and metrics involving Weighted Average Cost of Capital (WACC) and Return on Invested Capital (ROIC)
Implementing Policies and Procedures
Tax reporting and planning – Federal, State & Local requirements
Corporate Insurances – overall risk mitigation and cost reduction
Accomplishments
oImplemented new revenue recognition requirements (ASC 606/IFRS 15) by analyzing over 300 contracts
oSuccessfully managed growth of company over 5 years of revenues from $150M to $275M
oBuilt automation into complex calculations of servicing fee revenue on 500,000 loans, reducing labor and errors
Broe Real Estate Group - Private Equity Firm with International and Institutional Joint Ventures; 65 employees
Vice President of Finance & Accounting - 10/2008 to 8/2013, Broe Real Estate Group; total Staff of 11
Responsible for finances & reporting on 80 Real Estate assets worth over $400MM in Gross Value & $50MM annual revenue
Averaged over $100MM of Acquisitions & Dispositions annually
3,750,000 square feet of Office & Retail; 2300 units of condos/apartments
2000 acre multiuse Development Project (Residential & Heavy Industrial with rail access)
38 Medical Office Buildings (MOB’s)
Single Family Home “fix and flip” program of 170 houses
In charge of: Accounting Department; Finance Unit; Treasury Unit; A/P & A/R Units
Managing relationships with lenders, sourcing debt
Managing Joint Venture Equity relationships
Developing Business Strategies (1, 3, 5 year planning)
IRR Projections for Acquisitions, Dispositions; Waterfalls, Sales Promotes
Coordinating Big 4 Audits: US GAAP, IFRS, Shari’ah compliance, Agreed Upon Procedures: managing costs, timelines
Worked closely with Tax Department on 1031 issues, K-1’s, distributions, debt forgiveness, Use Tax issues, and reducing overall tax burden
Achievement – received special bonus from Tax Director for accomplishments in reducing taxes
Managing IT – accounting software upgrades, enhancements, training for staff
Motivating employees in tough economic environment - lead to exceptionally low turnover
Job Cost Tracking for Projects such as Capital Jobs, Construction Management Jobs, Land Development Jobs
Accomplishments
oAutomated monthly reporting processes & eliminated costs of contractors and errors. Reports became institutional quality in appearance
oCost savings initiatives
oForensic Accounting: top to bottom clean up of two prior poor G/L system conversions. Managed the project team that reconciled and corrected over 100 Intercompany and Equity / Investment In imbalances
oSimplified banking structure & eliminated commingling of funds. Implemented Check verification system on 80 bank accounts to prevent check fraud
oReduced routine errors by implementing a system of monthly peer review of each other’s work which also improved cross training, motivation and controls
AIMCO - Fortune 1000 company in 2006 & Largest US Multifamily REIT with 250,000 units; 6,000 employees
Manager of Accounting - 3/2006 to 10/2008
Managing the accounting for the disposition of multifamily housing properties (disposed over $1 billion, annually)
Coordination for Acquisitions, Tenders, Mergers, and 1031 exchanges.
Communication of important data for SEC Reporting related to Cash, Special Income, Gain on Sale
Monthly and Quarterly close processes: entries, reports, lists, rollforwards, variance analysis
Impairment Analysis of 1200 properties (quarterly & yearly review and related entries)
Other processes related to Dispositions (analysis & production of sales models, Promotes, Commissions, Goodwill)
Accomplishment – Developed system to ensure that all models tie to the ledger, thereby eliminating errors and audit issues
GMAC / CapMark - Real Estate Investment Banking division; lender on large real estate projects & owner of select real estate assets; #3 on the Fortune 500 list in 2005 (part of General Motors)
Assistant Vice President of Budgeting & Forecasting / Asst Controller - 2/2005 to 3/2006
Performed Modeling and Forecasting related to GMAC’s Real Estate Investment Banking loan origination and proprietary trading desk operations
Monthly Close process (standard close was Noon on the 2nd business day)
Preparing weekly P&L forecasts for 40 departments
Investigating & explaining variances for actuals vs. forecast
Preparing yearly budget - collaborating with each of 40 department heads to produce a final budget
Accomplishment - produced a new dynamic model with all of the drivers and assumptions for each group’s revenue & expenses, a major enhancement in predicting future outcomes (shock and sensitivity analyses)
Supporting the Warehouse and Cold Storage Division’s activity
Booking entries for all real estate acquisitions and dispositions ($260 million in 2005)
Facilitating the payment of interest on loans, and receipt of rent
Great West Life - Large Health Insurance Company (later bought by Cigna); 3000 employees
Assistant Manager Financial Analysis - 2/2002 to 2/2005
Monitoring and reporting on the operations, billing and administration of 20,000 group health insurance plans
Supervised a team of three responsible for Accounts Receivable and Allowance reporting and analysis
Accomplishment - Dramatically reduced on-going systems exceptions by implementing permanent solutions.
Aided in G/L systems conversion to SAP
Implementing processes that affected operational improvements
Achievement – Earned 2 promotions in 3 years.
COMPUTER PROFICIENCY
Essbase, Hyperion, Sage Intacct, PeopleSoft, SAP, Yardi, Argus, Epicor, Excel, Access, Word, PowerPoint, others.
HOBBIES / INTERESTS
Golfing; Triathlons; Reading; Skiing; Hockey, Performing Improv – graduate of Bovine Metropolis Theater, Denver CO.
View profile - www.linkedin.com/pub/eric-spencer-cpa-mba/19/834/921