Life Insurance Financial

Jonathan Torgusen

815-***-**** adhgdi@r.postjobfree.com

EXECUTIVE SUMMARY

Proven experience implementing IIA framework for internal auditing, COSO framework for internal control, GAAP standards for financial reporting and Sarbanes-Oxley requirements for internal control over financial reporting. Strong analytical skills effective in assessing risk, control design, control effectiveness and operating efficiency. Able to design, collaborate and obtain buy-in for appropriate control and operational enhancements. Exercise a collaborative management approach based on leading in-step with the strategic objectives of the overall business. Practically speaking, setting a plan consistent with the overall business plan; not building staff and organization for the sake of it. Rather, meeting the business where it is at with the appropriate resources to address key risks that the organization faces.

Internal audit work should set an example for how business is conducted. Non value add check-the-box audits should be avoided; likewise, critiques and gotcha moments. The importance of working with management to deliver a service with real and perceived value cannot be overstated. Audit methodology needs to be streamlined and efficient.

Prior experience also includes leadership of functional teams in finance and business development. These responsibilities (product P&L, commodity supply, spend targets, material/product performance metrics, etc.) don’t fit the normal mold of an audit professional. But, they do provide a refreshing perspective into the challenges facing operating and business leaders. This creates a durable foundation for collaboration with management that won’t typically be found with audit and risk leaders.

PROFESSIONAL EXPERIENCE

ACAP Fund GP, LLC

October 2020 - Present

Loan Review Consultant

•Review SBA PPP loan forgiveness applications for completeness and appropriate due diligence necessary to ensure proper documentation is provided. Includes review of the end to end application to ensure borrower provides proper evidence related to loan usage, expenses, and employee retention.

•Monitor workflow queue to ensure all applications are actioned and reviewed in accordance with defined service levels.

•Identify errors and raise potential compliance concerns with applications and documentation necessary to protect the bank's interest.

Independent Contractor

December 2019 - Present

Management Consultant

•Advise and educate clients on various concepts of risk management and internal audit.

•Deliver assigned projects within deadlines, ensuring the work is focused on delivering the highest level of quality and value-add.

•Aid in the creation and delivery of risk management changes and policies throughout the clients opeations.

Old Second National Bank

February 2016 – December 2019

Vice President Internal Audit

•Direct all efforts of the internal audit function by bringing a systematic, disciplined approach to the evaluation and improvement of the effectiveness of risk management, internal controls and corporate governance.

•Set overall audit strategy and lead the execution of activities necessary to ensure an effective risk based audit plan.

•Assist in the presentation of the annual audit plan to the Audit Committee.

•Provide independent assessment on the adequacy and effectiveness of the company’s internal controls over financial reporting, disclosure controls and procedures, the integrity of its financial process and compliance with regulatory requirements.

•Consult management on the development of tools and techniques to strengthen risk management and internal control.

•Provide input to policy development to manage risk and exposure for the company.

•Present to executive management key issues and matters of significance to the organization.

•Directly provide guidance and develop leaders for the Internal Audit Department.

GateHouse Media, LLC

December 2014 – February 2016

Regional Accounting Director

•Directed the financial strategy for the Community East Publishing Division, consisting of 13 states and 27 districts.

•Directed a team of 118 district controllers, office managers, supervisors, and administrative employees.

•Developed business planning strategies to reach revenue goal of over $477 million while controlling a $242 million expense budget while maintaining full adherence to Sarbanes-Oxley standards.

•Generated over $10 million in cost savings in 2015 by constantly identifying expense reduction opportunities.

•Realigned roles to reduce staffing, controlled expenditures and ensured managers maximized performance of all employees.

Wipfli, LLP

January 2012 – November 2014

Senior Risk Advisory Services Consultant – Financial Services

•Lead outsourced internal audit engagements and managed co-sourced arrangements, tailoring risk management consulting assistance to the individual circumstances of the client.

•Provided recommendations for business and process improvements based upon knowledge gained relative to the client's operations, processes, and business objectives.

•Proactively built relationships and communicated effectively with the client to provide superior client service.

•Actively participated in business development efforts to include working collaboratively with Senior Managers, Partners, and Marketing to target and build relationships with client prospects and acquire additional business.

•Managed, supervised, trained and lead the staff through counsel, guidance and coaching. Evaluate performance and participate in individual's performance appraisal process.

•Managed engagements and projects in order to achieve specific revenue and profit objectives and deliver designated engagement realization through the management of the client's budget, invoicing for time incurred and collecting fees billed.

•Invested in professional development through active participation in training sessions and networking events both internally and externally.

AMCORE Bank/BMO Harris Bank

January 2007 – December 2011

Audit Manager

•Worked closely with the audit leadership to develop and perform the annual risk assessment and audit plan and to plan, conduct, and evaluate the results of internal audits performed.

•Managed the day-to-day activities of the internal auditors and co-sourced auditors.

•Reviewed and approved audit staff workpapers and finalized audit reports for subsequent issuance; and served as liaison with senior management and third party auditors.

•Identified control weaknesses in audits, via internal control testing and operational procedures company-wide to ensure compliance, which led to improved efficiency for the Bank in various operations.

•Participated in corporate projects to improve business systems/processes, identification of emerging risks, and made recommendations to improve the control design and operating effectiveness/efficiency or compliance with company policies and legal/regulatory requirements.

•Lead projects related to reducing audit fees from the external auditors.

•Coordinated audit activities with external auditors ensuring proper audit coverage, eliminating duplicated efforts, and improved efficiency of audit activities.

Guarantee Trust Life Insurance Company

January 2002 – January 2007

Internal Auditor

•Preformed reviews to evaluate and improve the effectiveness of Control Systems, compliance monitoring, financial risk management and fraud recognition.

•Worked with management and staff to identify feasible resolutions to control weaknesses and opportunities for improvement.

•Provided audit assistance to external auditors in their performance of other annual financial statement audits.

•Identified new risks and provide assistance in developing controls.

•Planned, developed and conducted due diligence reviews of subsidiary and third party claim administrating locations.

•Lead cross-functional efficiency improvement teams designed to identify opportunities for procedural improvement, risk mitigation and cost savings.

EDUCATION AND PROFESSIONAL DEVELOPMENT

Bachelor of Science in Accounting, DeVry University

Certified Internal Auditor (CIA) – expected completion 2020

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